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AMC Networks Inc. (AMCX-2.24%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in total revenues to $2,421,314,000 from $2,711,877,000 in the previous year, a decline of 10.7%. This decrease is attributed to declines in subscription and advertising revenues.
Subscription revenues dropped by 5.7% to $1,472,051,000 due to a decline in affiliate revenues, partially offset by an increase in streaming revenues.
Advertising revenues decreased by 5.5% to $676,634,000, primarily due to linear ratings declines and lower demand in the entertainment advertising market.
Content licensing and other revenues fell by 37.4% to $272,629,000, reflecting fewer content deliveries in the period.
Operating expenses increased by 5.9% to $2,460,914,000, driven by impairment and other charges of $399,513,000, compared to $96,689,000 in the prior year.
The company reported an operating loss of $39,600,000, compared to an operating income of $388,412,000 in 2023.
Interest expense increased by 8.8% to $166,186,000, due to higher average interest rates.
Net income (loss) attributable to AMC Networks' stockholders was reported as a loss of $226,546,000, compared to a net income of $215,464,000 in the previous year.
The company reported a decrease in cash provided by operating activities to $375,615,000 from $203,919,000 in 2023.
AMC Networks highlighted its strategic focus on developing high-quality original content and expanding its streaming offerings, despite the challenges in the linear television market.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AMC Networks Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.