AMC Networks’ second-quarter net revenue rose 7.2% to $761 million thanks in large part to a significant jump in international revenues.
The company’s national networks segment climbed 3.7% to $627 million while international and other revenues jumped 32.4% to $146 million. Second-quarter results benefited from $30 million of net revenues related to the acquisition of Levity Entertainment Group.
Operating income was $192 million, up 9% year-over-year. AMC’s international segment was a big contributing factor once again, albeit in a slightly more dubious manner. The segment managed to trim its operating loss down to $11.3 million, a 63.7% improvement over the $31.2 million it lost in the year-ago quarter. In the meantime, national networks’ operating income tapered off some, down 0.8% to about $210 million.
AMC’s latest results arrive after the company recently acquired Levity and RLJ Entertainment, owner of streaming services Acorn TV and UMC.
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“Our recent transactions related to RLJ Entertainment and Levity are strategically consistent with several of our larger goals, including furthering our interests in ad-free direct-to-consumer businesses that we own and control, through RLJ Entertainment’s growing Acorn TV and UMC SVOD services, and content ownership,” said AMC Networks CEO Josh Sapan in a statement. “We continue to ensure that our content and brands are widely distributed and we have the distinction of being the most widely available independent programmer to be carried by virtual MVPDs, which includes our most recent launch on AT&T’s new Watch service.”
AMC Networks said its total subscriber base increased 2% over the year-ago quarter. That helped drive a 5.8% increase in distribution revenues to $380 million. At the same time, advertising revenues stayed mostly flat, up 0.6% to $247 million, thanks to higher pricing partially offset by lower delivery.