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There’s a fascinating thread running through these quarterly reports from left-wing Hollywood. They all deliver good numbers , but the stock still drops. Last week, it was the Disney Grooming Syndicate. This week it is AMC.
AMC Networks reported its first quarter earnings on Friday, noting a 13% drop in U.S. ad revenue to $140 million due to a “linear ratings decline and a challenging ad market.” Streaming subscriptions to AMC+, meanwhile, ticked up to 11.5 million, an increase of 300,000 subscribers since March 2023. Streaming terrifies Hollywood because it is pure merit. AMC has to produce content people want to watch to attract and keep subscribers.
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