AMC Networks Q2 2025: Streaming Revenue Grows 12% Despite Ad Decline
AMC Networks reported a significant boost in streaming revenue during its second quarter of 2025, reaching $169 million – a 12% increase from the previous year. This growth was primarily attributed to strategic price increases across their streaming platforms.
Key Performance Highlights
- Streaming subscribers increased to 10.4 million (up from 10.2 million)
- Total net revenue: $600 million (4% year-over-year decline)
- U.S. advertising revenue dropped 18% to $123 million
- Content licensing revenue grew 26% to $84 million
Streaming Growth and Subscriber Metrics
The company’s domestic streaming subscriber base showed steady growth, with services including AMC+, Acorn TV, and Shudder contributing to the expansion. AMC Networks has refined its subscriber calculation methodology to focus on direct-pay customers rather than bundle-access users.
Revenue Streams and Performance
While streaming showed strong performance, traditional advertising faced challenges with an 18% decline in U.S. ad revenue due to lower linear ratings. However, content licensing revenue saw significant growth, boosted by the sale of AMC Networks’ music catalog and producer fees from Apple TV+’s “Silo.”
Financial Outlook
The company has increased its free cash flow outlook for 2025, projecting approximately $250 million for the full year. Despite lower adjusted earnings per share (69 cents compared to $1.24 year-over-year), the results exceeded analyst expectations.
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