AMC Networks said that the number of streaming subscribers stayed the same at 10.4 million for the fourth quarter and the full year 2025, which is the same as in previous periods, even though the industry faced problems. This flat count across AMC+, Shudder, Acorn TV, and other services shows that pricing changes and bundling deals have worked, such as over 1.1 million ad-supported AMC+ activations through Spectrum.
Streaming revenue rose 14% to $177 million in the fourth quarter, making it the biggest source of revenue in the US for the whole year at $677 million, up 12% overall. This growth made up for a 13% drop in affiliate revenues to $138 million, which kept U.S. subscription revenue steady at a small 0.3% increase to $314.8 million. Because cable ratings were lower, domestic ad revenues fell 10.2% to $124.9 million. On the other hand, content licensing revenues rose 12.3% to $75.4 million.
CEO Kristin Dolan talked about proactive partnerships, like the ones that were renewed with DirecTV, Philo, and others that cover more than a third of U.S. and Canadian subscribers. The business made a lot of free cash flow and stressed the importance of distributing content across platforms to keep making money. These results position AMC Networks to navigate linear TV declines by leaning into streaming momentum.
