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• It's like a smaller version of Paramount Global, owning established cable channels such as AMC alongside a growing portfolio of niche streaming services.
• Think of it as a media company similar to A&E Networks (which operates channels like A&E and History), but also running a suite of highly specialized streaming services like Shudder and Acorn TV.

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• National Programming Networks: Operates traditional linear television channels including AMC, WE tv, BBC AMERICA, IFC, and SundanceTV.
• Subscription Streaming Services: Provides a diverse portfolio of on-demand streaming platforms such as AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE.
• Film Distribution: Engages in the acquisition and distribution of films under the IFC Films banner.
• Original Content Production: Creates and licenses original television programming for its various networks and streaming services.
• International Channel Operations: Manages and operates a portfolio of television channels globally under the AMCNI brand.
• Production and Comedy Venues: Engages in production activities and operates comedy venues through its Levity arm.

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AMC Global Media (AMCX) sells primarily to other companies, specifically to distributors of its linear television channels and to advertisers.

Major Customer Companies:

• Cable, Satellite, and Telecommunications Providers (MVPDs): These companies license AMC Networks' linear channels (AMC, WE tv, BBC AMERICA, IFC, SundanceTV, and international AMCNI channels) to bundle and offer to their subscribers. They pay affiliate fees to AMC Networks. Key public examples include:
  • Comcast Corporation (CMCSA)
  • Charter Communications, Inc. (CHTR)
  • DISH Network Corporation (DISH)
  • Verizon Communications Inc. (VZ)
  • AT&T Inc. (T)
• Virtual Multi-channel Video Programming Distributors (vMVPDs) / Live TV Streaming Platforms: These digital platforms also license AMC Networks' channels to include in their streaming bundles. Examples include:
  • Google (GOOGL) - for YouTube TV
  • The Walt Disney Company (DIS) - for Hulu + Live TV
  • Sling TV (a service of DISH Network Corporation - DISH)
• Advertisers: Various companies purchase advertising space and slots across AMC Networks' linear television channels and digital platforms to reach their target audiences. These are a broad range of businesses from diverse industries.

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Kristin Dolan, Chief Executive Officer

Kristin Dolan was appointed CEO of AMC Networks in February 2023. She has over 30 years of experience in media and entertainment. Prior to her role as CEO, she founded and served as CEO of 605, an audience measurement and data analytics firm, which was sold to iSpot TV in 2023. Before founding 605 in 2016, Ms. Dolan spent 16 years at Cablevision Systems Corporation, where she held various operating roles, including Chief Operating Officer. She was a key member of the leadership team during Cablevision's sale to Altice USA for $17.7 billion in 2016. Her career in the industry began at AMC Networks (then Rainbow Media) in 1989.

Michael J. Sherin III, Executive Vice President, Chief Accounting Officer and Interim Principal Financial Officer

Michael J. Sherin III assumed the responsibilities of principal financial officer on an interim basis, effective March 31, 2026, following the departure of the previous CFO. He also serves as the Executive Vice President and Chief Accounting Officer for AMC Networks. Mr. Sherin joined AMC Networks in 2011, initially as Vice President, Financial Reporting, and later served as Senior Vice President, Financial Reporting & Technical Accounting before his appointment as Chief Accounting Officer in 2021. Before joining AMC Networks, he was Senior Director, Financial Reporting and Compliance at The Nature's Bounty Co. from 2007 to 2011 and worked at PricewaterhouseCoopers LLP for ten years.

Kim Kelleher, President and Chief Commercial Officer

Kim Kelleher is the President and Chief Commercial Officer for AMC Networks, responsible for all commercial revenue across the company’s advertising sales and distribution organizations. Her career in media, marketing, and advertising spans over two decades. Prior to joining AMC Networks in 2019, she held senior leadership positions at Condé Nast, including Chief Business Officer for brands such as GQ, Golf Digest, and Wired Media Group. She also served as President of Say Media and as the Worldwide Publisher of Time, where she was named Advertising Age's Publisher of the Year in 2011 and was the first female executive to lead Sports Illustrated advertising sales.

Dan McDermott, President, Entertainment & AMC Studios

Dan McDermott is the President of Entertainment and AMC Studios, overseeing original programming, production, business affairs, acquisitions, scheduling, and consumer public relations for the company's entertainment group. He joined AMC Networks in early 2020. Prior to this, he led the scripted television partnership between Lionsgate and BBC Studios. Mr. McDermott also previously served as the first president of television at DreamWorks, where he oversaw shows including "Spin City" and "Freaks and Geeks," and has experience as a producer, writer, and partner in Di Bonaventura Pictures Television.

Jamie Gallagher, Executive Vice President and General Counsel

Jamie Gallagher serves as the Executive Vice President and General Counsel for AMC Networks, leading all legal affairs for the company and its business units. He joined AMC Networks in 2008, bringing with him 24 years of corporate counsel experience. Previously, he held positions as Executive Vice President and General Counsel for Tommy Hilfiger Corporation and spent six years as Executive Vice President and General Counsel at HSN (Home Shopping Network). He also served as group counsel at American Express Travel Related Services and began his legal career as an associate at Kelley Drye & Warren. Mr. Gallagher has been instrumental in guiding AMC Networks through significant milestones, including its public listing in 2011, the establishment of AMC Studios, and the development of its streaming portfolio.

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The accelerating shift of audiences from traditional linear television towards subscription streaming services (often referred to as cord-cutting). This trend directly erodes the subscriber base and advertising revenue for AMC Global Media's national programming networks (e.g., AMC, WE tv, BBC AMERICA, IFC, SundanceTV) and international channels. Simultaneously, the company's own portfolio of subscription streaming services (e.g., Acorn TV, Shudder, Sundance Now, ALLBLK, HIDIVE, AMC+) operates in a highly competitive and increasingly saturated market, facing intense pressure from larger, better-funded platforms for subscriber acquisition and retention.

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Addressable Markets for AMC Networks Inc. (AMCX)

The addressable markets for AMC Networks Inc.'s main products and services encompass subscription streaming, linear television, and film distribution.

Subscription Streaming Services (e.g., Acorn TV, Shudder, Sundance Now, ALLBLK, HIDIVE, AMC+)

• The global Subscription Video on Demand (SVOD) market is projected to reach USD 128.43 billion in revenue in 2024 and is expected to grow to USD 209.35 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.5%. Another estimate places the global SVOD market size at USD 128.74 billion in 2025, with a projection to reach USD 242.02 billion by 2033 at a CAGR of 8.21%.
• In the United States, the video streaming market, which includes SVOD services, was valued at USD 104.8 billion in 2024 and is anticipated to reach USD 411.7 billion by 2033, with a CAGR of 18.66% from 2025-2033. North America accounts for a significant share, holding 35.8% of the global Streaming Services Market. Approximately 310 million U.S. users actively stream content as of 2024, with 74% of households subscribing to at least one SVOD platform.

National Programming Networks (e.g., AMC, WE tv, BBC AMERICA, IFC, SundanceTV)

The market for traditional linear television networks in the U.S. is experiencing a shift as audiences increasingly move towards streaming. In July 2023, linear TV viewing (comprising cable and broadcast) dropped below 50% of total U.S. TV usage for the first time, reaching 49.6%. Specifically, cable viewing in the U.S. fell to 29.6% in July 2023, while broadcast usage declined to 20%. Despite this decline, linear TV continues to reach a substantial audience, with 69% of U.S. adults aged 25-54 watching traditional TV weekly. However, linear TV ad spending in the U.S. is projected to decrease by more than 11% in 2026. The broader U.S. video subscriptions market, encompassing both pay-TV and over-the-top (OTT) services, is expected to generate nearly $120 billion in revenue this year (2026).

Film Distribution (IFC Films)

• The global film distribution market is estimated to be USD 103.3 billion in 2026, growing from USD 99.69 billion in 2025 at a CAGR of 3.6%. It is projected to reach USD 117.71 billion by 2030 with a CAGR of 3.3%. North America was identified as the largest region in this market in 2025.
• In the United States, the Movie & Video Distribution industry market size is estimated at $1.5 billion in 2026. This market size was also $1.5 billion in 2025 and 2024.

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For AMC Global Media (AMCX), several key drivers are expected to contribute to future revenue growth over the next two to three years:

1. Accelerated Growth in Streaming Revenue and Average Revenue Per User (ARPU): AMC Networks is strategically prioritizing its streaming portfolio, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. The company emphasizes increasing average revenue per user through curated bundles and pricing adjustments, focusing on a profitable subscriber mix rather than just gross subscriber additions. Streaming has become the largest single source of domestic revenue, with significant year-over-year growth.
2. Expansion of Digital Advertising and FAST Channels: The company is actively scaling its Free Ad-supported Streaming TV (FAST) channels (e.g., AMC Thrillers, IFC, The Walking Dead FAST) to monetize its extensive content library. There is a concerted effort to reorient the advertising business towards streaming, FAST, and AVOD (Advertising-based Video on Demand) platforms, which has resulted in a reported increase in digital advertising commitments.
3. Content Licensing and Monetization of Owned Intellectual Property (IP): AMC Networks is focused on leveraging its valuable content library and franchise-driven intellectual property. This includes renewing and expanding branded content licensing agreements with third-party platforms, such as Netflix, and capitalizing on the reversion of rights for popular franchises like "The Walking Dead" to create significant licensing opportunities.
4. Strategic International Expansion: The company is actively pursuing international growth, particularly for its targeted streaming services like Acorn TV, with expansion efforts in markets such as Canada, Australia, New Zealand, and select European Union countries. Additionally, AMC Networks is launching new FAST channels in various international regions, including the UK, Central and Northern Europe, Iberia, and Latin America, to diversify revenue streams and expand its global footprint.

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Share Repurchases

• AMC Networks Inc. had an authorized program to repurchase up to $1.5 billion of its outstanding shares of common stock.
• As of December 31, 2024, the company had $135 million of authorization remaining under its stock repurchase program, with no shares repurchased during the year.
• In the second quarter of 2025, the company repurchased 1.6 million shares of its Class A Common Stock for approximately $10 million, with $125 million of authorization remaining as of June 30, 2025.
• In the fourth quarter of 2025, AMC Networks repurchased 854,692 shares of its Class A Common Stock for $7.5 million, leaving $117 million of authorization remaining as of December 31, 2025.

Capital Expenditures

• AMC Networks's capital expenditures for fiscal years ending December 2021 to 2025 averaged $40.026 million.
• Capital expenditures peaked in December 2024 at $44.775 million and reached a 5-year low of $33.303 million in December 2025.
• The company's strategic focus for capital allocation includes the continued development of high-quality original content, including owned and controlled content and valuable intellectual property, as well as enhancing technology and customer service to drive free cash flow and maximize stockholder value.