AMC adds 431,000 paid streaming subscribers in 1Q 2022Thursday, May 5th, 2022
NEW YORK — AMC Networks Inc. (“AMC Networks” or the “Company”) (NASDAQ: AMCX) today reported financial results for the first quarter ended March 31, 2022.
Interim Chief Executive Officer Matt Blank said: “AMC Networks had solid first quarter performance, highlighted by 3% total company revenue growth and continued growth of our streaming portfolio to end the quarter with 9.5 million total subscribers. We continue to advance our differentiated strategy of offering streaming services that appeal to audiences with distinct affinities and passions, which is leading to strong consumer loyalty and low churn. 2022 is the biggest year of original programming in AMC Networks’ history and our content continues to break through, including the recent final season premiere of Better Call Saul, which drove record levels of subscriber acquisition for AMC+. With our content cost advantages, our ability to super serve audiences, and our clear path to profitability by virtue of our unique strategy, we are reaffirming our full year 2022 financial outlook and our target of achieving 20 million to 25 million streaming subscribers in 2025, as we continue to reconstitute our revenue mix and as we remain focused on profitability.”
AMC Networks Inc. Q1 2022 results earnings call
On the Q1 2022 results earnings call Chris Spade, Chief Operating Officer and Chief Financial Officer, said “Streaming subscribers and streaming revenue increased 37% and 43%, respectively, versus the prior year. We ended the first quarter with approximately 9.5 million paid streaming subscribers, representing first quarter net streaming subscriber additions of 431,000.”
Links: AMC Networks