{"id":25813,"date":"2024-02-13T22:41:34","date_gmt":"2024-02-13T22:41:34","guid":{"rendered":"https:\/\/radiantmedia.io\/?p=25813"},"modified":"2024-02-13T22:41:35","modified_gmt":"2024-02-13T22:41:35","slug":"amc-networks-reports-a-21-8-million-q4-loss","status":"publish","type":"post","link":"http:\/\/34.197.49.85\/?p=25813","title":{"rendered":"AMC Networks Reports A $21.8 Million Q4 Loss"},"content":{"rendered":"\n

AMC Networks reported a loss in the fourth quarter due to a challenging ad market and a drop in traditional distribution income.<\/strong><\/h2>\n\n\n\n

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Streaming revenue increased 4% to $145 million as the number of AMC’s direct-to-consumer members increased.<\/p>\n\n\n\n

READ MORE: AMC Networks Has Successfully Implemented Programmatic Ad Buying On Linear Networks, Marking A Significant Milestone Inside The Industry<\/a><\/strong><\/p>\n\n\n\n

The corporation reported a net loss of $21.8 million, or 50 cents per year, compared to a $264.7 million loss, or $6.11, the previous year, when restructuring charges were incurred.<\/p>\n\n\n\n

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The 2024 results included a $42 million impairment charge for BBC America, a joint venture with BBC.<\/p>\n\n\n\n

Revenue decreased 30% to $678.8 million.<\/p>\n\n\n\n

READ MORE: The Price Of AMC+\u2019s Ad-Supported Tier Has Been Revealed<\/a><\/strong><\/p>\n\n\n\n

AMC’s earnings fell short of analysts’ predictions, but revenue above Wall Street estimates.<\/p>\n\n\n\n

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AMC’s domestic businesses generated $59.9 million in operational income, up from a $287 million deficit the previous year.<\/p>\n\n\n\n

Domestic revenues fell 32.4% to $581.7 million.<\/p>\n\n\n\n

Advertising revenue fell 23%, to $158 million. AMC’s shows had fewer original episodes, which contributed to lower ratings. Distribution sales dropped 35% to $582 million.<\/p>\n\n\n\n

The firm announced that it has renewed carriage agreements with Charter Communications and Dish Network.<\/p>\n\n\n\n

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Subscription sales declined 8% to $327 million.<\/p>\n\n\n\n

Content licensing income dropped 68% to $96 million.<\/p>\n\n\n\n

Content licensing revenue fell 68% to $343 million.<\/p>\n\n\n\n

“In the fourth quarter and across 2023, we continued to see success in the areas that will drive this company forward \u2014 programming, partnerships and profitability,” said Kristin Dolan, the company’s chief executive officer.<\/p>\n\n\n\n

“Nearly a year since joining AMC Networks as CEO, I am proud of the progress we have made in a fast-changing environment, and the new and innovative ways we are engaging with viewers and our commercial and creative partners.”<\/p>\n\n\n\n

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