AMC Networks reported fourth-quarter revenue of $599 million, down 12 percent from the same period a year ago, and adjusted earnings per share of 64 cents down from 72 cents.
Both numbers missed Wall Street earnings expectations.
In its domestic operations unit, AMC Networks said subscription revenue fell 4 percent to $314 million in the fourth quarter as the company cited declines in linear subscribers, partially offset by streaming revenue growth. Streaming revenues increased 8 percent to $156 million due to year-over-year subscriber growth and price increases.
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The company’s total streaming subscribers reached 12.4 million at the end of 2024, including subscribers to AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE, up from 11.4 million subscribers a year ago.
AMC Networks took a $268.7 million goodwill impairment charge on its domestic operations reporting unit due to “continued softness
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