November 4, 2022
AMC Networks Nov. 4 reported it ended the third quarter (ended Sept. 30), with 11.1 million subscription streaming VOD subscribers. That’s an increase of 44% from 7.7 million subs in the prior-year period.
The media company’s streaming properties include AMC+, British-themed Acorn TV, horror-themed Shudder, Sundance Now, ALLBLK (formerly Urban Movie Channel) and the anime focused HiDive.
“Anne Rice’s Interview With the Vampire” premiered in October and is the biggest new series in AMC+ history. The SVOD service launched operations in Australia, New Zealand and Spain.
Net revenue decreased 16% from the prior year to $682 million, from $811 million, largely driven by the timing of content licensing revenue, lower affiliate and advertising revenue, and unfavorable foreign currency translation, partly offset by streaming revenue growth of 41%. Operating income in the quarter decreased 13% to $187 million, from $215 million a year ago.
“Our focus to transform to a consumer-focused multi-platform premium content company is taking hold with strong digital distribution growth,” CEO Christina Spade said in a statement. “Our ability to break through the competition with our content, as we further reconstitute our revenue mix, positions us well for long-term success and value creation.”