By Andy Fry

AMC Networks has reported robust results for Q4 2022 – but remains concerned about the
impact of the shift from linear to streaming on its business. For Q4, net revenues increased 20
per cent year on year to US$965 million while the figure for the full year was just over US$3
billion (up 1%). The company now has 11.8 million streaming subscribers, which is up 700,000
on Q3, 2022. However, its operating loss stood at US$392m.
AMC Networks interim executive chairman James Dolan used an earnings call to say that the
industry still needs to do more work to improve its ROI from streaming. For its own part, he said
AMC Networks “is focused on maximising the value of our high-quality, popular content
through optimised content monetisation as we reduce costs and drive cash flow. We believe
this will position the company well to navigate industry dynamics and enable us to generate
long-term shareholder value.”
Comparing domestic (US) performance with international, AMC said domestic revenues in Q4
increased 26 per cent year on year to US$861 million, while ‘international and other’ revenues
decreased 12 per cent to US$108 million. Internationally, advertising revenues decreased 33
per cent to US$22 million “due to the wind-down of two channels in the UK, the unfavorable
impact of foreign currency translation and softer ratings in the UK.”
In terms of operational highlights, AMC lauded the success of its new Anne Rice Universe
franchise with Anne Rice’s Interview with the Vampire the number one new series launch in
AMC+ history and the number two new basic cable drama in 2022. The extension of The
Walking Dead universe was also flagged up. The company said it had also tested an “innovative
new pricing and packaging offer with Verizon’s +play Early Access, where Verizon mobile and
5G Home customers were offered 12 months of Netflix Premium for free with the purchase of a
12-month subscription to AMC+”.
https://www.digitaltveurope.com