AMC Networks Beats Q3 Forecasts With Help From Netflix, Stock Pops
deadline.comAMC Networks said a new partnership with Netflix is helping boost streaming subscribers and revenue as it posted third quarter financials that were down from the year earlier but beat Wall Street forecasts.
Content licensing revenues increased 31% to $81 million due in part to availability that started in August of deliveries in the period, including of AMC-branded shows in connection with the new Netflix deal for prior seasons of 13 AMC series, called The AMC Collection.
The shows have performed well on the giant streamer, CEO Kristen Dolan said on an upbeat call after earnings with the stock up 9% after the numbers.
It settled and is up about 5% now. AMC+ hit 11.8 million subscribers, from 11.6 million last quarter. Streaming revenues increased 7% to $152 million.
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