AMC Networks, the company behind such cable channel brands as AMC, IFC and Sundance TV, as well as such streaming services as AMC+, Acorn TV and horror streamer Shudder, reported a 10 percent drop in fourth-quarter U.S. advertising revenue to $124.8 million on Thursday.
U.S. subscription revenue of $314.8 million was up slightly from a year-ago $314 million on higher streaming revenues offsetting the 13 percent fall in affiliate revenues to $138 million.
Streaming revenue, which is driving growth at the company, rose 17 percent to $177 million on gains from sub price increases.
The company, led by CEO Kristin Dolan, saw its streaming subscriber numbers at the end of the fourth quarter stand at 10.4 million customers, which was unchanged from the streaming subscriber tally for the end of the third quarter of 2025 and the end of the fourth quarter in 2024.
Overall revenues for the fourth quarter total revenues fall 1 percent to $595 million, compared to $599 million in the same period of 2024. That beat an analyst forecast for AMC Networks’s revenues to reach $585.2 million. The company shrunk its operating loss for the fourth quarter to $50.8 million, against a year-earlier operating loss of $254.2 million.
AMC Networks in its domestic operations saw total revenues reach $515 million, down 1 percent from a year-earlier $520.2 million. Total international revenues for the latest financial quarter fell 5 percent to $81.3 million, with subscription revenues rising 1.2 percent to $48.5 million, while advertising revenue dropped 12.7 percent to $29.5 million.
AMC Networks has leaned on its streaming services (AMC+, Shudder, Sundance Now, Acorn TV, ALLBLK, HIDIVE and All Reality for subscription revenue growth as the company pivots from its legacy linear TV business.
“AMC Networks had a successful 2025. Streaming is now the largest single source of revenue in our domestic segment, a significant milestone and inflection point in the ongoing transformation of our business,” CEO Dolan said in a statement that accompanied its latest financial results.