AMC Networks Faces Revenue Decline Amid Streaming Growth

Despite a 13% fall in ad revenue, AMC Networks sees an uptick in streaming subscribers, reaching 11.5 million in Q1 2024.

First-quarter financials reveal a 17% drop in total revenue to $596 million, with adjusted earnings per share at $1.16.
Streaming revenue increased by 3% to $145 million, driven by subscriber growth and strategic price hikes.
Content licensing revenue plummeted by 40% due to the absence of high-profile deliveries like 'Silo'.
AMC Networks announces plans to launch standalone ad-supported versions of its streaming services by 2025.
CEO Kristin Dolan emphasizes strategic initiatives to adapt to consumer-driven industry changes, including strengthening the company's balance sheet.