AMC Networks posted a 17% decrease in domestic advertising revenue in the second quarter, preventing the company from meeting Wall Street revenue expectations.
Total revenue slipped 8% from the same quarter a year ago, coming in at $679 million. The company blamed the ad downturn as well as lower affiliate and 25/7 Media production services revenue.
The drop in advertising revenue resulted from “anticipated linear ratings declines, softness in the ad market and fewer original programming episodes within the quarter, partly offset by digital and advanced advertising revenue growth,” the company said in its earnings release.
As with Warner Bros Discovery in its quarterly report Thursday, AMC Networks saw free cash flow jump, hitting $147.6 million from $30.7 million in the same period in 2022.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.