“The Strolling Useless” is coming dwelling to AMC Networks. The place it heads subsequent shall be one of many largest questions for a corporation managing a declining TV enterprise and rising streaming income.
The unique zombie sequence has been a constant prime performer on Netflix, producing almost half a billion hours of viewership on Netflix over the past six months of 2025, and shall be a useful commodity as soon as the streaming rights revert again to AMC Networks. When requested what the corporate plans to do with the returning rights, CEO Kristin Dolan famous that she will be able to’t share a lot in the intervening time however “we’re in conversations.”
“We’re simply not prepared to talk about it now, however we’re in conversations, and we’re very optimistic in regards to the worth of the content material and our alternative to monetize it going ahead,” Dolan mentioned.
The feedback got here on an investor convention name following AMC Networks’ launch of its fourth-quarter outcomes, which highlighted the balancing act it should preserve.
Promoting revenues decreased 10% yr over yr attributable to persevering with declines within the cable market in addition to decrease market pricing, and income from associates decreased 13% yr over yr due a decline in cable subscribers. Nonetheless, streaming revenues elevated by 14%, primarily attributable to value will increase within the firm’s streaming companies. That push and pull led to subscription income coming in at $315 million — an end result per what the section noticed a yr in the past.
Partly on account of the declines in its conventional linear enterprise, streaming now accounts for the only largest income in AMC Networks’ home operations section, which Dolan known as “a big milestone and inflection level within the ongoing transformation of our enterprise” within the firm’s letter to shareholders.
Extra worrisome, nevertheless, is the truth that subscriber development remained flat from the third quarter and a yr in the past at 10.4 million subscribers. That comes after greater than 1.1 million Spectrum TV prospects activated ad-supported AMC+ on Constitution in a partnership that began in March.
Listed below are the important thing outcomes:
Income: $595 million, down 1% yr over yr, in comparison with $581.8 million anticipated by analysts at Yahoo Finance for the quarter. Revenus was $2.3 billion, down 5% for the yr.
Internet Loss: $55.5 million, in comparison with $284.5 million loss a yr in the past for the quarter. Internet earnings for the yr got here in at a constructive $89.4 million, an enchancment from the $226.5 million loss for 2024.
Earnings per Share: Total diluted loss narrowed to $1.26 a share from $6.38 a share a yr in the past. Diluted EPS for the yr got here in at a constructive $1.66 in comparison with the $5.10 loss seen a yr in the past.
Adjusted earnings per share got here in at 64 cents a share, the identical quantity reported throughout the identical quarter a yr in the past and in comparison with 66 cents per share anticipated by analysts at Yahoo Finance. EPS for the yr got here in at $2.03, down 47% in comparison with 2024.
Income: Whole income fell barely to $594.8 million from a yr in the past, however the determine was ok to prime analyst estimates of $581.8 million.
Subscribers: 10.4 million, the identical variety of streaming subscribers that had been reported on December 31, 2024 and September 30, 2025.
The corporate additionally generated $272 million in free money circulate forward of its beforehand elevated forecast. “We anticipate that 2026 will signify one other stable yr on this entrance and anticipate free money circulate of a minimum of$ 200 million for the total yr,” Dolan mentioned.
Dolan additionally touted the total acquisition of RLJ, which incorporates possession of streaming companies Acorn TV, ALLBLK, RLJE Movies and a stake in Agatha Christie Ltd.