AMC Networks, the US media and entertainment company, has reported Q4 revenue of $599 million (€570.9m), down 12 per cent on the same period a year ago, missing Wall Street expectations.

In its domestic operations AMC Networks said subscription revenue dropped 4 per cent to $314 million in the quarter, as the company cited declines in linear subscribers, partially offset by streaming revenue growth. Streaming revenues increased 8 per cent to $156 million due to year-over-year subscriber growth and price increases.

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 – an increase on 1 million on the end of 2023.

AMC Networks took a $268.7 million goodwill impairment charge on its domestic operations, due to “continued softness in the domestic linear marketplace and across the International television broadcasting markets, resulting in lower expected future cash flows, as well as a decrease in the valuation multiples.”

AMC Networks took $399.5 million in impairment and other charges overall, which also comprised of a $102 million charge for international division AMCNI, and $29.2 million for long-lived asset impairment charges at BBC America, which AMC Networks acquired in Q4 2024.

AMC Networks CEO, Kristin Dolan, commented: “We are pleased and encouraged by our results in the fourth quarter and across all of 2024. We achieved our full-year guidance across all key financial metrics, including generating healthy free cash flow of $331 million. Our free cash flow performance to date has been strong and we are increasing our expectations to approximately $550 million of cumulative free cash flow over the ’24/’25 two-year period. We forged and expanded innovative partnerships that are helping to drive our company forward amidst a period of change that is challenging all media companies. In addition, we continued to delight fans by delivering high-quality and distinctive shows and films across our own targeted offerings as well as an array of partner platforms, and to expand our targeting capabilities to differentiate our advertising business.”

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Tags: AMC, AMC Networks, bbc america