AMC Networks saw a decline in revenue in the fourth quarter, resulting in a drop in stock prices. The company reported that its content licensing revenues fell by 68% to $96 million, primarily due to timing and availability issues with deliveries. In the prior year, the company had significant revenue from the delivery of Silo, an AMC Studio series, which accounted for $126 million. Some episodes of “The Walking Dead” were also included in the previous year’s revenue.
Additionally, AMC Networks reported an 8% decrease in subscription revenue, which amounted to $327 million in the fourth quarter. However, there was some offset with a 4% increase in streaming revenue, reaching $145 million.
Overall, the company’s revenue for the quarter ended December 31 decreased from $964.5 million to $678.8 million compared to the same period a year ago. Despite these challenges, analysts surveyed by FactSet were expecting slightly less revenue at $676 million.
AMC Networks reported a net loss of $21.8 million, or 50 cents per share, which is an improvement from the previous year’s loss of $264.7 million, or $6.11 per share. Adjusted earnings were 72 cents per share, exceeding analysts’ forecast of 68 cents per share.
These results indicate a mixed performance for AMC Networks in the fourth quarter. The decline in content licensing and subscription revenue did impact the company’s overall financials, but the growth in streaming revenue provides some hope for future success.
