AMC Networks Streaming Subscribers Dip to 10.2 Million in Q1 as Company Moves to Only Count Direct, Paid Sign-Ups

On Friday, AMC Networks disclosed their earnings for the first quarter of 2025, introducing a fresh approach to calculating their overall subscriber base, encompassing AMC+, Shudder, and additional streaming platforms.

As stated by AMC Networks, during the first quarter, we revised the definition for our streaming subscribers. Now, only those individuals who register on an individual basis and pay for one of our streaming services, either directly through our own apps or indirectly through partnerships with other streaming platforms, will be counted as subscribers. This change in definition means that people who received access to our streaming services from distributors as part of a video package that also included our programming networks are no longer included in our subscriber count.

As per the latest structure, AMC Networks reports a total of 10.2 million subscribers for their streaming platforms such as AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE by March’s end. This is a decrease from the 10.4 million subscriptions recorded at the close of 2024, according to AMC Networks’ revised calculation that replaced the earlier figure of 12.4 million under the old format.

Most of AMC Networks’ earnings come from their U.S. cable stations, such as AMC, BBC America, IFC, SundanceTV, WE tv, and IFC Films.

During the quarter spanning January 1st to March 31st, AMC Networks’ domestic advertising earnings decreased by 15%, amounting to $119 million, due to a drop in cable viewership ratings. On the other hand, their streaming income experienced an 8% rise, reaching $157 million, mainly because of price hikes on AMC Networks’ streaming platforms.

All in all, the income generated domestically during this quarter was approximately $486 million, representing a 7% decrease compared to Q1 of 2024. Subscription earnings dipped by 3%, affiliate earnings dropped by 12%, and content licensing sales decreased by 13%.

As a discerning film enthusiast, I’ve taken a closer look at the financial performance of AMC Networks’ global wing. Regrettably, there was a 7% dip in overall revenue, landing at approximately $70 million. The most significant drop occurred in our subscription sales, plummeting a disappointing 12%. However, a silver lining emerged in the form of a 5% increase in advertising sales.

Analysts predict an EPS of 81 cents and a revenue of $567 million, as per the data from LSEG. However, AMC Networks recently reported an adjusted EPS of 52 cents with revenue amounting to $555 million.

In a letter to our shareholders, AMC Networks CEO Kristin Dolan stated that we are persistently leveraging our key abilities while adapting to the evolving landscape of media. During the initial quarter, we provided top-tier premium content to our audience, debuted ad-supported AMC+ on Charter, and generated $94 million in free cash flow. We remain flexible and proactive in dispersing our popular content across all accessible platforms to enhance value for our collaborators, viewers, and shareholders.

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2025-05-09 15:40