AMC Networks Posts Q2 Revenue Increases
AMC Networks -- even with
some carriage issues -- still posted double-digit increases in both advertising and affiliate revenue for the second
quarter. But more channel troubles could be coming.
Advertising revenue for the network group -- which consists of AMC, WE tv, and others -- grew 13.4% to $130 million. Affiliate revenue was 15.2% higher to $176 million.
AMC did take note of its ongoing issues with Dish Network -- the second-largest satellite TV provider, with 14 million subscribers. Since May, Dish Network has stopped TV channel carriage of its AMC, WE tv and IFC networks.
The company says of the ongoing riff: "The termination of Dish Network’s carriage will have a material impact on our revenues, AOCF [adjusted operating cash flow] and operating income in future periods... Although Dish Network’s termination has reduced the company’s total subscribers by approximately 13%, the impact on our AOCF and operating income, if it continues, will be materially higher."
Overall, its U.S. domestic networks had a 14.4% gain in revenue to $305 million, with operating income 21.6% higher to $111 million. Looking at all revenue -- international and digital, for example -- there was 12% gain to $328 million. Net income climbed 47% to $84 million.