AMC Networks Ends Q2 With 10.8M Streaming Subscribers, Ad Revenue Dips

AMC Networks said streaming subscribers jumped 46% to 10.8 million in the June quarter, up from 7.4 million, driven in part by the AMC+ premium streaming bundle launch in Spain. The company said it…

said streaming subscribers jumped 46% to 10.8 million in the June quarter, up from 7.4 million, driven in part by the AMC+ premium streaming bundle launch in Spain. The company said it’s on track to achieve long-term subscriber goal of 20 million to 25 million streaming subscribers by 2025.

The parent of AMC, BBC AMERICA , IFC, SundanceTV, WE tv, IFC Films and AMC Studios said total revenues fell 4% to $738 million. Of that, advertising sales were down 5% to $202 million due to lower linear ratings, partially offset by higher year-over-year AMC Originals impressions, pricing, and digital growth.Streaming growth beat expectations, but revenue was a miss, with the stock trending lower in pre-market trading.

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