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AMC Networks Sees 23% Drop In U.S. Advertising Revenue; Adds Streaming Subs; Stock Takes A Hit
AMC Network posted a 23% drop in domestic advertising for the fourth quarter amid ongoing woes of linear television, but streaming subscribers grew.
AMC Network posted a 23% drop in advertising for the fourth quarter as total revenue fell 30% to $679 million. “In the fourth quarter and across 2023, we continued to see success in the areas that will drive this company forward – programming, partnerships and profitability. “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.”
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