AMCX - AMC Networks' Q3 Streaming Business Provides Bright Spot On Otherwise Muted Q3 Growth Stock Soars | Benzinga
AMC Networks Inc (NASDAQ: AMCX) reported a third-quarter FY23 revenue decline of 6.6% Y/Y to $636.95 million, missing the consensus of $657.80 million.
Meanwhile, U.S. ad sales were down 18% at $147 million, blaming "anticipated linear ratings declines, a challenging ad market and fewer original programming episodes within the quarter."
Affiliate revenue decreased 13% due to basic subscriber declines, including the 3% revenue impact of a strategic non-renewal that occurred at the end of 2022.
Despite these ...