AMC Networks — the company behind such cable channel brands as AMC, IFC and Sundance TV, as well as such streaming services as AMC+, Acorn TV and horror streamer Shudder — reported a 10 percent drop in third-quarter U.S. advertising revenue to $133 million on Friday. It cited “linear ratings declines and a challenging ad market, partly offset by digital and advanced advertising revenue growth.”
Quarterly affiliate revenue decreased 13 percent to $164 million, “primarily due to basic subscriber declines.”
After returning to streaming subscriber growth in the third quarter of last year after two quarters of declines, the company added around 200,000 users in the latest quarter to end September with a total of 11.8 million subs, compared with 11.6 million as of the end of June.
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