Business
AMC Networks Inc. Reports Fourth Quarter and Full Year 2022 Results
NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (NASDAQ: AMCX) today reported financial results for the fourth
About this update from Amc Global Media Inc.
[{"type":"text","content":"NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) -- AMC Networks Inc. (\"AMC Networks\" or the \"Company\") (NASDAQ: AMCX) today reported financial results for the fourth quarter and full year ended December 31, 2022. AMC Networks Interim Executive Chairman James L. Dolan said: \"AMC Networks is focused on maximizing the value of our high-quality, popular content through optimized content monetization as we reduce costs and drive cash flow. We believe this approach will position the company well to navigate current industry dynamics and enable us to generate long-term shareholder value.\" Operational Highlights: Launched new Anne Rice Universe franchise with Anne Rice’s Interview with the Vampire, which became the #1 new series launch in AMC+ history and the #2 new basic cable drama in 2022.Kicked off 2023 with the second series in the franchise, Anne Rice’s Mayfair Witches, which is pacing to become the most viewed single season of any show on AMC+, topping Interview’s performance, and is a Top 10 cable drama in the current broadcast season.Renewed both Anne Rice’s Interview with the Vampire and Anne Rice’s Mayfair Witches for second seasons.Premiered the final season of The Walking Dead, which concluded with AMC+’s highest single day of viewership ever and which commanded the series’ highest pricing in its 11-year run, demonstrating high audience engagement and advertiser demand for the franchise.Bringing fans of The Walking Dead Universe a new season of Fear the Walking Dead and two new series: The Walking Dead: Dead City and The Walking Dead: Daryl Dixon, in 2023.Renewed WE tv franchise hits Love After Lockup, Life After Lockup, Love During Lockup and Growing Up Hip Hop for new seasons.Renewed six multi-year carriage agreements, with Charter, Altice, Philo, Mediacom and WOW! for continued carriage of U.S. channel portfolio and with Bell for continued carriage of AMC in Canada.Tested innovative new pricing and packaging offer with Verizon’s +play Early Access, where Verizon mobile and 5G Home customers were offered 12 months of Netflix Premium for free with the purchase of a 12-month subscription to AMC+. Fourth Quarter Financial Highlights: Net revenues increased 20% from the prior year to $965 millionOperating loss of $392 million; Adjusted Operating Income(1) increased 34% to $137 millionDiluted EPS of $(6.11); Adjusted EPS(1) of ...