In a Q1 2025 financial report Friday, AMC Networks reported a loss of 200,000 subscribers across its streaming platforms, which include AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. The company ended the quarter with 10.2 million subscribers across those platforms.
This was the first quarter that AMC Networks changed the way it reported subscriber numbers. Subscribers are now defined as only those who have a paid subscription to one of the company’s streaming services directly through the company’s direct-to-consumer (“DTC”) apps or indirectly through one of the streaming platforms the company is partnered with. The company says that change “reflects our continued focus on higher quality subscribers.” The number does not include those who get access to one of the services through a package that also includes linear networks, such as Spectrum customers who get AMC+ as part of their Spectrum package, a program that just launched in March, as part of a multi-year renewal with Charter announced last September.
Due to the change in definition, AMC Networks “recast” previously reported subscriber numbers. With that recast, the current count of 10.2 million subscribers is flat compared to this time last year, but down from last quarter.
While subscriber numbers dropped, revenue was up. Streaming revenues increased 8% to $157 million, which AMC Networks says was primarily due to price increases across the services.
In the report, Chief Executive Officer Kristin Dolan said: “We continue to execute on our core strengths as we navigate the changing world of media. During the first quarter we delivered high-quality premium programming to our audiences, launched ad-supported AMC+ on Charter and generated $94 million of free cash flow. We remain nimble and opportunistic in broadly distributing our sought-after content across all available platforms to build value for our partners, viewers and shareholders.”
In the report, the company highlighted its horror service, Shudder, which celebrates its tenth anniversary this year, and shared that it will launch an ad-supported version of the service. Another upcoming launch is a new free channel, Acorn TV Mysteries.