Welcome to our dedicated page for AMC Networks news (Ticker: AMCX), a resource for investors and traders seeking the latest updates and insights on AMC Networks stock.
AMC Networks Inc. (NASDAQ: AMCX) is a renowned global entertainment company with over 30 years of experience producing quality programming and movie content. The company owns and operates several prominent and award-winning brands in cable television including AMC, IFC, SundanceTV, WE tv, and IFC Films. These brands deliver distinctive, compelling, and culturally relevant content that captivates audiences across a multitude of platforms. AMC Networks also operates AMC Networks International, its global division.
As of December 2023, AMC Networks reached nearly 65 million pay-TV households in the US with its most widely distributed network, AMC. The company's streaming subscribers also grew to nearly 11.5 million, with AMC+ as the flagship platform. AMC Networks focuses on original scripted programming through AMC Studios and earns revenue from licensing content.
The company has adapted to industry changes, recently introducing an ad-supported version of AMC+ and pioneering programmatic ad buying on its linear networks. AMC Networks continues to secure partnerships, including a pop-up on Max and presence on Xumo. The firm has maintained strong financial health, reporting year-over-year increases in free cash flow and streaming revenue, despite some declines in net revenues and operating income.
The company has announced exciting new content such as 'The Walking Dead: Daryl Dixon' and 'The Walking Dead: The Ones Who Live', which are set to premiere soon. AMC Networks also engages in strategic partnerships with major distributors and enhances its streaming offerings through innovative packaging and expanded distribution channels. These efforts ensure AMC Networks remains a profitable and influential player in the entertainment industry.
AMC Networks (AMCX) reported Q3 2024 financial results with net revenues of $600 million, down 6% year-over-year. Streaming revenues increased 7% to $152 million, with subscribers growing 5% to 11.8 million. The company generated $293 million in free cash flow year-to-date. Operating income was $94 million, while Adjusted Operating Income was $131 million with a 22% margin.
Key developments include renewing major affiliate agreements with Charter, launching AMC series on Netflix, and acquiring the remaining 50.1% of BBC America joint venture. Domestic Operations revenues decreased 2% to $530 million, while International revenues declined 24% to $74 million. Diluted EPS was $0.76, and Adjusted EPS was $0.91.
AMC Networks (NASDAQ: AMCX) has announced it will report its third quarter 2024 results on Friday, November 8, 2024. The company will hold a conference call at 10:00 a.m. Eastern Time, following the release of results before market opening. The call will be webcast live on the company's investor website, with replay available approximately two hours after completion. Pre-registration is required for telephone access to the conference call.
AMC Networks and Charter Communications have announced an early multi-year renewal of their distribution agreement. Key points include:
1. Charter will continue to carry AMC Networks' linear cable networks.
2. The ad-supported version of AMC+ will be included at no additional cost for Spectrum TV Select customers.
3. AMC+ will be available for purchase by Charter's Internet-only customers.
4. Spectrum TV Select Plus customers will receive over $40/month in retail value for streaming apps.
5. The deal includes continued access to AMC Networks' cable portfolio, featuring popular shows like The Walking Dead Universe and Dark Winds.
This agreement aligns with Charter's strategy of enhancing its content offerings and AMC Networks' goal of expanding viewer access to its programming.
AMC Networks Inc. (NASDAQ: AMCX) reported Q2 2024 financial results, highlighting strategic progress in programming, partnerships, and profitability. Key developments include:
1. A new content licensing agreement with Netflix for 15 AMC branded shows.
2. A licensing partnership with Sky for The Walking Dead Universe in the UK.
3. Inclusion in Optimum's new Entertainment TV package.
4. Price increases for Acorn TV and HIDIVE streaming services.
Financial highlights:
- Net revenues: $626 million (8% decrease)
- Streaming revenues: $150 million (9% increase)
- Operating income: $11 million
- Adjusted Operating Income: $153 million (24% margin)
- Diluted EPS: $(0.66)
- Adjusted EPS: $1.24
- Free Cash Flow: $95 million
The company remains focused on generating strong free cash flow and is on track to meet its full-year guidance.
AMC Networks General Counsel and EVP Jamie Gallagher will retire at the end of 2024 after more than 16 years of service. Gallagher played a important role in guiding AMC Networks through significant milestones, including taking the company public in 2011, creating AMC Studios, and establishing the company's targeted streaming portfolio, led by AMC+. CEO Kristin Dolan praised Gallagher's exceptional leadership and contributions, highlighting his instrumental role in navigating the dynamic media landscape. Gallagher expressed gratitude for his experience at AMC Networks, calling it the greatest professional experience of his life. The company has initiated a search for a successor and will provide updates as appropriate.
AMC Networks Inc. (NASDAQ: AMCX) has announced it will report its second quarter 2024 results on Friday, August 9, 2024. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results, which will be issued in a press release before the market opens. The call will be webcast live on the company's investor relations website.
Interested parties can pre-register for the conference call to obtain dial-in information and a passcode. Internet replays will be available approximately two hours after the call ends. AMC Networks is known for creating and curating celebrated series and films across various brands, including targeted streaming services like AMC+ and Acorn TV, as well as cable networks such as AMC and BBC AMERICA.
AMC Networks (Nasdaq: AMCX) announced the pricing of its $125 million offering of 4.25% convertible senior notes due 2029. The private offering targets qualified institutional buyers under Rule 144A of the Securities Act. An option allows initial purchasers to buy up to an additional $18.75 million worth of notes within 13 days of issuance, expected to close on June 21, 2024. The net proceeds are allocated for general corporate purposes including debt repayment. The notes are senior unsecured obligations guaranteed by AMC Networks' domestic subsidiaries, paying interest semi-annually. The initial conversion rate is 78.5083 shares per $1,000 of notes, equating to $12.74 per share—a 25% premium over the June 17, 2024, closing price. Conversion conditions apply until November 15, 2028, after which conversion can occur anytime until maturity.
On June 17, 2024, AMC Networks announced a private offering of $125 million in convertible senior notes due 2029. These notes will be offered to qualified institutional buyers under Rule 144A of the Securities Act. An additional $18.75 million option may also be available to initial purchasers. The proceeds will be used for general corporate purposes, including debt repayment. The notes are senior, unsecured obligations guaranteed by AMC Networks' domestic subsidiaries. Conversion terms will be determined through negotiations, and the notes will mature on February 15, 2029, unless converted earlier.
AMC Networks Inc. reported financial results for Q1 2024, highlighting operational successes like hit series debuts and content expansions. The company strengthened its balance sheet through financing transactions, extended debt maturities, and showcased positive cash flow performance. However, net revenues decreased by 17% and diluted EPS by 56.4% compared to the prior year.
FAQ
What is the current stock price of AMC Networks (AMCX)?
What is the market cap of AMC Networks (AMCX)?
What is AMC Networks Inc. known for?
How many households does AMC Networks reach?
What are some of AMC Networks’ streaming platforms?
What recent innovations has AMC Networks introduced?
Who are AMC Networks' partners for content distribution?
What are some upcoming shows on AMC Networks?
How has AMC Networks performed financially?
What changes have been made to AMC Networks’ international operations?
How many streaming subscribers does AMC Networks have?
What strategic moves has AMC Networks made recently?
