Although U.S. advertising revenues for AMC Networks were virtually flat in its third-quarter reporting period, TV distribution fee revenues and a one-time acquisition produced a gain.
Third-quarter net revenues gained 7.5% to $697 million, attributable to a 3.5% overall improvement at its U.S. TV Networks and an increase of 34.6% in its international and other category, which included $39 million of net revenues from its purchase of Levity Entertainment Group.
Levity owns comedy venues, operates a talent management business and produces original content for TV and digital media platforms.
U.S. advertising revenues inched up 0.9% to $200 million, with distribution revenues climbing 5% to $361 million. AMC Networks said there was higher pricing, but lower overall delivery on viewers.
AMC National Networks Group includes AMC, WE tv, BBC America, IFC and SundanceTV; and AMC Studios, the company’s television production business.
In other business, AMC Networks closed its transaction on RLJ Entertainment.
Just after releasing its quarterly results, AMC stock was trading down 5% to $58.27.