AMC achieves key streaming milestone in Q4
AMC achieves key streaming milestone in Q4
The company now pulls in more revenue from its various streaming services than it does from its linear networks.
AMC Networks’ fourth-quarter 2025 earnings are a microcosm of the entertainment industry in general; linear TV is on its way out, and streaming has to make up the difference for major entertainment companies to stay afloat. That’s clearer than ever at AMC, which now generates more revenue from its streaming services than it does from its linear channels.
Key Details:
- No change: AMC streaming services stayed flat in the fourth quarter at 10.4 million subscribers.
- Streaming success: Streaming revenue rose to $177 million during the quarter.
- New deal incoming?: AMC’s licensing deal with Netflix could soon be renewed.
AMC Networks saw streaming customers across AMC+, IFC Films Unlimited, Shudder, and Sundance Now remain flat during the quarter at 10.4 million, the same number it had in the third quarter of last year. AMC’s collection of niche streaming services will never attract the same number of subscribers that streaming giants like Netflix can boast, but its customer base is a dedicated one.
Streaming revenue rose 14% year-over-year for AMC, hitting the $177 million mark in Q4. In a first for AMC Networks, the company now makes more revenue from its streaming services than it does from its linear cable networks, and that revenue is likely to jump higher, as AMC has announced a wave of price increases for its streamers is coming soon.
That isn’t to say that AMC isn’t benefitting from its relationships with pay-TV distributors. The company saw more than 1.1 million Spectrum TV subscribers activate free AMC+ accounts since the carriage deal between the companies in 2024. AMC+ on-demand content will roll out free for select DIRECTV customers in the coming months, as well.
During her conference call to discuss AMC’s earnings with Wall Street Analysts, company CEO Kristin Dolan said it was “in conversations” with Netflix to extend the licensing deal between the two that allows “The Walking Dead” to stream on the service. The current agreement is nearing its end, and while Dolan wouldn’t say much on the state of talks with Netflix, she did drop the reminder that the rights are “very valuable.”
The shift toward streaming represents “a significant milestone and inflection point in the ongoing transformation of our business” for AMC, according to Dolan. The company still seems ripe for acquisition by a bigger entertainment entity in the coming years, but if that does happen, whichever buyer emerges will be purchasing an AMC with a healthy streaming operation.
The company’s flagship streamer, AMC+, is also introducing a price increase. Effective immediately, the price on all plans is increasing, with the hike hitting existing customers in March.
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.