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AMC Networks Inc. Reports Fourth Quarter and Full Year 2024 Results
NEW YORK, Feb. 14, 2025 (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. 14, 2025 (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, 2024. AMC Networks Chief Executive Officer Kristin Dolan said: \"We are pleased and encouraged by our results in the fourth quarter and across all of 2024. We achieved our full-year guidance across all key financial metrics, including generating healthy free cash flow of $331 million. Our free cash flow performance to date has been strong and we are increasing our expectations to approximately $550 million of cumulative free cash flow over the '24/'25 two-year period. We forged and expanded innovative partnerships that are helping to drive our company forward amidst a period of change that is challenging all media companies. In addition, we continued to delight fans by delivering high-quality and distinctive shows and films across our own targeted offerings as well as an array of partner platforms, and to expand our targeting capabilities to differentiate our advertising business.\" Operational Highlights: Completed significant affiliate renewal activity in 2024, representing almost half of our domestic affiliate subscriber base, including multiyear agreements with Charter, Cox, Verizon, and Cable One, among others.Signed multi-year renewal with Amazon Prime Video Channels for the global distribution of our entire portfolio of streaming services.Continued expansion of our growing FAST channels business, now with 19 total live FAST channel brands on 12 different platforms, representing 136 active channel feeds.Demonstrated continued leadership and innovation in advertising with recent launch of AMCN Outcomes, our new performance product built into our Audience+ insights and data targeting platform, allowing advertisers to see campaign outcomes and optimize delivery in real time.Kicking off 2025 with a robust slate of original programming including: Anne Rice’s Mayfair Witches, Dark Winds, The Walking Dead: Dead City, The Walking Dead: Daryl Dixon, and highly anticipated new series including Anne Rice’s The Talamasca and Nautilus, and many more. Full Year Financial Highlights: Net cash provided by operating activities of $376 million; Free Cash Flow(1) of $331 million.Net revenues of $2,421 million. Excluding 2023 revenues related...