AMC Networks' Q4 performance exceeds expectations, with streaming becoming the largest source of revenue

LootboxPhobia · 2026-02-12T00:23:39+00:00

AMC Networks reported an adjusted EPS of $0.64 for the fourth quarter, beating expectations, with streaming services becoming the largest source of domestic revenue. Streaming revenue grew by 14%, with stable subscription numbers. Domestic advertising and affiliate revenue declined. The company completed several major contract renewals and acquired the remaining shares of RLJ Entertainment.

LootboxPhobia

2026-02-12 00:23:39

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New York - AMC Networks Inc. (NASDAQ:AMCX) reported that its adjusted fourth-quarter earnings exceeded analyst expectations, reaching an important milestone as its streaming business became the largest source of revenue within its domestic operations.

The entertainment company’s adjusted earnings per share for the fourth quarter were $0.64, surpassing the analyst estimate of $0.58. Revenue was $594.8 million, above the consensus estimate of $582.7 million, but slightly down 0.8% compared to the same period last year. Following the announcement, the company’s stock price dipped slightly by 0.27%.

“AMC Networks achieved success in 2025. Streaming is now our largest single revenue source within our domestic business, marking an important milestone and turning point in our ongoing business transformation,” said CEO Kristin Dolan. “Our free cash flow significantly exceeded previous upward revisions and once again met our full-year financial guidance.”

Streaming revenue in the fourth quarter grew 14% to $177 million, mainly driven by price increases across the company’s services. Streaming subscriber numbers remained stable at 10.4 million, unchanged from the previous quarter and the same period last year. Meanwhile, traditional affiliate revenue declined 13% to $138 million due to a decrease in basic subscribers.

Domestic advertising revenue fell 10% to $125 million, reflecting declines in linear viewership and market pricing. Content licensing revenue increased 12% to $75 million due to scheduling of content delivery.

The company’s international division revenue declined 5% to $81 million, with subscription revenue up 1%, but advertising revenue decreased 13% compared to the same period last year.

AMC Networks also completed significant affiliate renewal activities in 2025, covering over one-third of its subscriber base in the U.S. and Canada, including long-term agreements with companies like DirecTV. In the fourth quarter, the company acquired the remaining 17% stake in RLJ Entertainment, gaining full ownership of assets such as Acorn TV and ALLBLK.

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