AMC Networks hurt by ad slump
November 7, 2025
AMC Networks posted a 17 per cent drop in its Q3 US advertising revenue to $110 million (€94.9m) due to ‘linear ratings declines and lower marketplace pricing’.
Domestic subscription revenue of $316 million were unchanged from the prior-year period “as growth in streaming revenues offset declines in affiliate revenues,” the media and entertainment company said. The company added streaming subscribers year-over-year to end the latest quarter with a total of 10.4 million subscribers, compared with 10.2 million as of the end of September 2024.
Total domestic operations revenues decreased 8 per cent from the prior year to $486 million.
CEO Kristin Dolan stated that the company’s streaming revenue would be its largest single revenue driver for 2025, with streaming revenue growth predicted as AMC transitions from its legacy linear TV business.
“Our performance in the third quarter marks a key milestone in our transition from a cable networks business to a global streaming and technology focused content company. Streaming revenue growth accelerated and will represent our largest single source of domestic revenue this year. We again delivered healthy free cash flow and remain on track to achieve our increased outlook of $250 million in free cash for the full year. We have built the components of a modern media business that is nimble, independent and well suited to today’s environment and whatever comes next,” said Dolan.
Focusing on advertising, CFO Patrick O’Connell, speaking to analysts, said: “The ad market remains challenging for everyone. We are encouraged by our strong upfront performance, the strength of our programming and our significant advanced and digital advertising capabilities.” AMC is also focused on advertising growth from 33 FAST channels across 22 platforms, in part to use FAST and AVoD channels to allow audiences to sample AMC TV series and possibly take up streaming subscription services.”
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