AMC loses 200,000 streaming customers in first quarter
AMC loses 200,000 streaming customers in first quarter
The company is also suffering from continued declines from its linear channels.
AMC continues to navigate a pay-TV and streaming environment that seems to be working against it at every turn. Cord-cutters continue to eat into revenues on the company’s linear side, and its streaming services can’t seem to make any headway against the industry giants. Those issues were highlighted by AMC’s first quarter 2025 earnings report, which was released on Friday.
Key Details:
- Streaming downturn: AMC has around 200,000 fewer streaming customers than in the previous quarter.
- Revenue shortfall: Domestic operations revenue saw a 7% decline year-over-year.
- Accounting changes: AMC is changing the way it counts streaming subscribers.
Starting on the streaming side, AMC lost around 200,000 customers during the first quarter, ending at 10.2 million. That’s more or less consistent with its number in the first quarter of 2024; AMC streamers include AMC+, BritBox, Shudder, HIDIVE, and other services.
Domestic operations revenue at the company fell 7% compared to Q1 2024, totaling $486 million. Content licensing dipped 13%, and ad revenues dropped by 15%, mostly thanks to continued viewership losses from AMC cable networks. AMC executives did note in their earnings call with investors that a licensing deal originally intended to occur in Q1 has now been shifted to Q2 2025.
Streaming revenues did increase in the first quarter, primarily thanks to a price increase on AMC+, which went into effect for existing subscribers in January. However, as a segment, subscription revenues decreased 3%, thanks to further declines in pay-TV.
Starting in the first quarter and moving forward, AMC is changing the way it counts streaming subscribers. Customers who get AMC streaming services through a service that also gives them access to AMC linear channels. That would seem to include viewers who get their AMC+ content through Philo, as well as those who get a free AMC+ account via a Spectrum TV plan.
AMC may not be the biggest player in linear or streaming distribution these days, but the company isn’t throwing in the towel.
AMC+
AMC+ is a premium subscription streaming bundle owned by AMC Networks. It offers curated access to award-winning originals, indie films, and prestige television. Launched in June 2020, the service combines content from AMC with flagship brands such as BBC America, IFC, Sundance TV, Shudder, Sundance Now, and IFC Films Unlimited, delivering a rich library of exclusive programming and early episode access.