AMC Global Media reported its second-quarter 2026 earnings Thursday, on the heels of announcing a $500 million co-exclusive streaming deal with Netflix for “The Walking Dead.”
Streaming revenue for the second quarter, which ran March-May, increased 6% to $180 million. U.S. ad sales were down 11% at $109 million.
During its last quarterly earnings report in May, AMC said it will no longer report streaming subscribers on a regular quarterly basis moving forward. At that time, AMC said streaming subscribers had fallen 1% year-over-year to 10.1 million during the January-March quarter.
Currently, AMC Global Media’s streaming portfolio consists of AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, HIDIVE and the newly launched All Reality. AMC’s linear networks include AMC, BBC AMERICA (which includes U.S. distribution and sales for BBC News), IFC, SundanceTV and We TV. The company also owns film distribution labels Independent Film Company and RLJE Films (which it acquired outright in Q4), and in-house studio AMC Studios.
Wall Street forecast a loss of earnings per share (EPS) of 7 cents on $554.65 million in revenue, according to analyst consensus data provided by LSEG. AMC reported an adjusted loss per share of 28 cents on $547 million in revenue.
“We are pleased to announce today an expansion of our relationship with a key long-term partner, Netflix,” AMC Global Media CEO Kristin Dolan said in a letter to shareholders accompanying the financial results. “We have reached a global co-exclusive licensing agreement for the streaming rights to the entire Walking Dead Universe, which will provide a meaningful source of cash flow for years to come. We renewed distribution agreements with major partners Comcast and YouTube. We are increasing our guidance for the full year as we leverage the value of our IP, the importance of our studio and the strength of our partner relationships, particularly in the area of distribution.”
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