AMC Networks Q2 Overall Revenues Up 7%, But Ad Revenue Flat

AMC Networks' advertising posted a 0.6% gain to $247 million, versus a 2% projection by industry analysts for the second quarter.

While the cabler saw virtually flat ad revenues for the period, it was an improvement from previous quarters.

In the second quarter, Todd Juenger, media analyst at Bernstein Research, says total Nielsen C3-measured prime-time Nielsen viewership was down 5%, with 18-49 viewers declining 9% in the period. The C3 metric is the average commercial minute rating plus three days of time-shifted viewing.

These results compare favorably with previous quarters.

In the first quarter of 2017, AMC ad revenues were down 9% and its 18-49 prime-time audience was 28% lower, with the fourth quarter down 10% in ad revenues and a 25% fall in viewers, according to Bernstein Research.



However, overall company-wide second-quarter 2018 revenue grew 7% to $761 million, with a net income from continuing operations rising 3% to $106 million -- the latter below industry projections.

Second-quarter distribution revenues rose 6% to $381 million, as expected by analysts' projections. International business climbed 32% to $147 million.

Total subscribers increased 2% year-over-year, which includes traditional carriage and direct-to-consumer offerings, like AMC Premiere.

AMC Networks stock was down 5% to $57.29 in mid-day Thursday trading.

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