AMC Q2 streaming revenue up, US ad revenue down
July 31, 2026
AMC Global Media has reported financial results for the second quarter ended June 30th 2026.
Chief Executive Officer Kristin Dolan, commented: “We are pleased to announce today an expansion of our relationship with a key long-term partner, Netflix. We have reached a global co-exclusive licensing agreement for the streaming rights to the entire Walking Dead Universe, which will provide a meaningful source of cash flow for years to come. We renewed distribution agreements with major partners Comcast and YouTube. We are increasing our guidance for the full year as we leverage the value of our IP, the importance of our studio and the strength of our partner relationships, particularly in the area of distribution.”
Q2 Domestic results
- Domestic Operations revenue decreased 11 per cent from the prior year to $470 million (€408m).
- Subscription revenue decreased 5 per cent to $306 million primarily due to a decline in affiliate revenue, partially offset by streaming revenue growth.
- Streaming revenue represented over a third of Domestic Operations segment revenue in Q2. Streaming revenue increased 6 per cent to $180 million primarily due to the impact of price increases across AMC’s services.
- Affiliate revenue declined 17 per cent to $126 million primarily due to basic subscriber declines.
- Advertising revenue decreased 11 per cent to $109 million. Advertising revenue included the one-time impact of a now resolved system integration issue in the second quarter. Excluding this one-time impact, advertising revenue declined in the mid-single digit per cent area, due to lower ratings and marketplace pricing, partially offset by digital advertising growth.
- Content licensing revenue decreased 34 per cent to $56 million primarily due to the timing and availability of deliveries in the period.
- Segment Adjusted Operating Income decreased 52 per cent to $61 million. The decrease in segment Adjusted Operating Income was primarily driven by revenue declines and increased marketing investments related to the timing of premieres.
- International revenue increased 4 per cent from the prior year to $79 million. Excluding the favourable impact of foreign currency translation, International revenue increased 2 per cent.
- Subscription revenue decreased 1 per cent to $47 million primarily due to the previously disclosed wind-down of a joint venture that operated primarily in Poland and Africa, partially offset by the favourable impact of foreign currency translation. Excluding the favourable impact of foreign currency translation, subscription revenue decreased 3 per cent.
- Advertising revenue increased 13 per cent to $29 million primarily related to revenue from the outperformance of advertising in the fourth quarter of 2025 that has since returned to normal levels and the favorable impact of foreign currency translation. Excluding the impact of foreign currency translation, advertising revenue increased 11 per cent.
- Segment Adjusted Operating Income decreased 3 per cent to $14 million. The decrease in segment Adjusted Operating Income was primarily driven by lower subscription revenue and higher selling, general and administrative expense, excluding the impact of foreign currency translation.
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