AMC streaming subs hold steady, ad revenue dips in Q3
AMC streaming subs hold steady, ad revenue dips in Q3
The company saw streaming revenue rise during the quarter, but those gains were offset by ad revenue declines.
AMC Networks may be surrounded by much bigger companies that are trying to work out what to do with their streaming services and cable channels in a period of evolution for the entertainment industry, but it isn’t slowing down. The company is still plugging ahead, and reported its third quarter 2025 earnings on Friday.
Key Details:
- Slight gains: AMC now has 10.4 million streaming subscribers.
- Revenue yo-yo: Streaming revenue increased during the quarter, but ad revenue slumped.
- Sticking with Netflix: In September, AMC expanded its licensing deal with Netflix.
On the streaming side of the balance sheet, the third quarter was mostly positive for AMC. Its services AMC+, ALLBLK, Shudder, and others now combine to number 10.4 million subscribers, a gain of around 200,000 from the year-ago quarter.
Streaming revenue was up for AMC Networks during the quarter, as well. It rose 14% to $174 million based on gains from subscriber growth. During her conference call with analysts, AMC CEO Kristin Dolan said that streaming revenue would be the company’s biggest driver of revenue this year.
AMC didn’t do quite as good a job collecting ad revenue during the quarter, as this revenue stream dropped 17% in Q3 to $110 million. Dolan cited continued declines in ratings for AMC’s linear channels, as well as lower marketplace pricing, as the reason for the pullback in ad revenue.
The company is trying to supplement its ad revenues with free ad-supported streaming TV (FAST) channels. It now has 33 FAST channels available across 22 different platforms, which in an ideal world will drive more viewers to consider a paid AMC streaming subscription.
AMC didn’t make a ton of major headlines in the third quarter, but it did announce an extension of its licensing deal with Netflix, which will send a number of AMC’s new titles and seasons that weren’t previously available to the world’s largest streamer.
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.