AMC Networks Reports $29.2 Million Q2 Loss as Linear TV Struggles Persist

Streaming subscriber growth and new partnerships offer bright spots amid declining ad revenues and significant impairment charges.

AMC Networks posted a net loss of $29.2 million in Q2 2024, compared to a $70.2 million profit a year ago.
U.S. advertising revenue fell 11% year over year due to linear TV challenges.
Streaming subscribers increased by 5% to 11.6 million, driven by price hikes and new offerings.
The company recorded $97 million in impairment charges, including $68 million for its international division.
AMC Networks expanded its content partnerships, notably with Netflix and Sky, to bolster streaming revenue.