AMC Networks Earnings

AMC Networks Inc. reached 9.5 million streaming subscribers, the company reported Thursday in its first-quarter earnings report.

Its advertising revenues increased 1% to $201 million. The company attributed that to higher pricing and digital growth, partially offset by lower linear ratings.

“AMC Networks had solid first quarter performance, highlighted by 3% total company revenue growth and continued growth of our streaming portfolio to end the quarter with 9.5 million total subscribers,” Matt Blank, AMC Networks interim CEO, said in a statement.

He continued, “We continue to advance our differentiated strategy of offering streaming services that appeal to audiences with distinct affinities and passions, which is leading to strong consumer loyalty and low churn. 2022 is the biggest year of original programming in AMC Networks’ history and our content continues to break through, including the recent final season premiere of Better Call Saul, which drove record levels of subscriber acquisition for AMC+. With our content cost advantages, our ability to super serve audiences, and our clear path to profitability by virtue of our unique strategy, we are reaffirming our full year 2022 financial outlook and our target of achieving 20 million to 25 million streaming subscribers in 2025, as we continue to reconstitute our revenue mix and as we remain focused on profitability.”

More to eat….

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