AMC Global Media Reports 8.8% Revenue Decline in Q2 2026

AMC Global Media Inc. reported a decline in financial performance for the second quarter of 2026, with net revenues of $547.5 million, down 8.8% from $600.0 million in the same period last year. For the first half of 2026, revenues totaled $1.09 billion, a decrease of 5.7% compared to $1.16 billion in the first half of 2025. The company experienced a net loss attributable to its stockholders of $21.9 million, or $(0.51) per share, contrasting sharply with a net income of $50.3 million, or $1.12 per share, in the prior year. The decline in revenue was attributed to decreases in subscription, advertising, and content licensing revenues across both domestic and international segments.

In terms of operational changes, AMC Global Media's Domestic Operations segment saw subscription revenues decrease by 4.5% to $305.9 million, primarily due to a decline in affiliate revenues from basic subscriber losses, although streaming revenues increased slightly. Advertising revenues in this segment fell by 11.2%, reflecting lower ratings and pricing pressures. The International segment reported a slight decrease in subscription revenues of 1.0%, while advertising revenues increased by 13.0%, benefiting from favorable foreign currency translation effects. Overall, the company’s total operating expenses remained relatively stable, with a slight decrease of 0.7% year-over-year.

Strategically, AMC Global Media announced a significant licensing agreement with Netflix on July 30, 2026, granting the streaming service co-exclusive global rights to all shows in The Walking Dead Universe. This agreement is expected to generate approximately $500 million over five years, with an estimated revenue recognition of $445 million based on present value calculations. The company also continued its stock repurchase program, having repurchased $30 million of its Class A Common Stock under an accelerated share repurchase agreement.

As of June 30, 2026, AMC Global Media's total assets stood at $3.73 billion, down from $3.94 billion at the end of 2025. The company reported cash and cash equivalents of $464.0 million, a decrease from $502.4 million at the end of the previous year. The company’s long-term debt decreased to $1.66 billion from $1.74 billion, reflecting repayments made during the period. Looking ahead, AMC Global Media anticipates continued challenges in subscriber retention and advertising revenue, particularly as competition intensifies in the streaming and cable markets. The company remains focused on managing its content costs and enhancing its programming offerings to drive future growth.