Business
AMC Networks Inc. Reports Full Year and Fourth Quarter 2019 Results
Full Year Financial Highlights: Revenues of $3.1 billionOperating income of $625 million; Adjusted Operating Income1 of $944 millionDiluted EPS of $6.67;
About this update from Amc Global Media Inc.
[{"type":"text","content":"Full Year Financial Highlights:\n Revenues of $3.1 billionOperating income of $625 million; Adjusted Operating Income1 of $944 millionDiluted EPS of $6.67; Adjusted EPS1 of $9.27Cash Provided by Operating Activities of $484 million; Free Cash Flow1 of $377 million Fourth Quarter Financial Highlights: Revenues of $785 millionOperating income of $42 million; Adjusted Operating Income of $200 millionDiluted EPS of ($0.15); Adjusted EPS of $1.69 Full Year Operational Highlights: The Company further strengthened the distribution of both its linear channels as well as its suite of targeted SVOD services by entering into comprehensive long-term distribution agreements with two of its largest distribution partners, DISH Network and Charter CommunicationsThe Company continued to make significant progress on its key strategic initiative of becoming the leading targeted SVOD provider by passing the 2 million paid subscriber threshold for its four services: Acorn TV, Shudder, Sundance Now, and UMC (Urban Movie Channel)The Company aired 5 of the top 20 dramas on ad-supported cable in 2019 (The Walking Dead, Fear the Walking Dead, Killing Eve, NOS4A2, Into the Badlands)2WE tv ranked #1 amongst African American women in the 18-49 & 25-54 key demos on both Thursday and Friday night in 20193 NEW YORK, Feb. 26, 2020 (GLOBE NEWSWIRE) -- AMC Networks Inc. (“AMC Networks” or the “Company”) (NASDAQ: AMCX) today reported financial results for the full year and fourth quarter ended December 31, 2019. President and Chief Executive Officer Josh Sapan said: “AMC Networks achieved its key financial targets for the year, against a backdrop of a rapidly shifting media ecosystem. We continue to move our organization in a new strategic direction, from what has been a cable channels company into a premier targeted content company that is now inhabiting the traditional pay-TV ecosystem, the advanced advertising world, as well as the emerging targeted SVOD marketplace. A new agreement with one of our biggest MVPD partners – DISH Network – includes the launch of our full suite of targeted SVOD services and demonstrates that our distribution partners are increasingly recognizing the value of our SVOD offerings. We are seeing momentum for our targeted SVOD services, which passed two million paid subscribers in the fourth quarter, as we continue to invest in strong, ...