AMC Networks reported a 10% drop in the third-quarter U.S. advertising revenue, citing linear rating declines and a challenging ad market. Known for a number of brands such as AMC, IFC, and Sundance TV, the company’s affiliate revenue also decreased by 13%, which is kind of odd as the viewer base has definitely grown since the last quarter.
It was even suspected that the decline was primarily due to basic subscriber declines. However, AMC Network’s streaming subscriber base grew to 11.8 million from 11.6 million in the previous quarter. A growth of about 200,000 subscribers.
Recently, the company has been focused on non-exclusive deals that allow it to monetize content across multiple platforms, both its own and those of partners. The company had entered into negotiations with platforms like Netflix and Charter to bring in more of the content to lure in subscribers.
AMC Networks has also been expanding its ad-supporting offerings, launching an ad-supporting version of AMC+, and planning to do the same for its other streaming services. The company’s CEO, Kristin Dolan, emphasized the company’s strategic focus on programming, partnerships, and profitability in the changing media landscape. Stating the company has been “very pleased by its performance on this massive streaming platform (Netflix).” As of now, 15 AMC series are being hosted by the streaming giant. Still, it is quite obvious that the shift from the TV networks to streaming services has caused the shift in ad revenues as well.
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