Q2 2026 AMC Global Media Inc Earnings Call Transcript

Jul 30, 2026 / 12:30 PM GMT

Release Date Price: $9.71 (-5.27%)

Transcript 8-K

Key Points

Positve

AMC Global Media Inc (AMCX) announced a global co-exclusive licensing agreement with Netflix for the entire Walking Dead universe, totaling $500 million in contracted fees over five years, highlighting the enduring value of its owned IP.
The company raised its full-year 2026 AOI guidance to $410-$420 million and free cash flow guidance to approximately $220 million, reflecting improved financial outlook.
Streaming services showed strong performance with a double-digit increase in engagement and sequential improvement in retention, even after implementing price increases.
AMC Global Media Inc (AMCX) successfully renewed distribution agreements with four of the top five major domestic MVPDs in the last 12 months, including Comcast and YouTube, demonstrating strong affiliate relationships.
The company's linear networks saw ratings growth, with WE TV gaining 21% in primetime and TNA Wrestling hitting an all-time ratings high, indicating robust audience engagement.

Negative

Consolidated net revenue declined 9% year-over-year to $547 million in Q2 2026, reflecting ongoing challenges in the media landscape.
Domestic operations advertising revenue, excluding a one-time technical issue, still declined by mid-single-digits due to lower ratings and marketplace pricing.
Affiliate revenue decreased 17% in Q2, in line with expectations but still a significant decline, though improvement is expected in the second half.
Subscriber acquisition for streaming services came in slightly below expectations in the first half of 2026, impacted by geopolitical events and high-profile sports programming.
The company's net leverage ratio stood at 4.1 times at quarter end, representing the high point for the year, indicating elevated debt levels relative to earnings.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AMCX.OQ - AMC Global Media Inc
Q2 2026 AMC Global Media Inc Earnings Call
Jul 30, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by and welcome to AMC Global Media's second quarter 2026 earnings conference call.

Currently, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press *11 on your telephone.

To remove yourself from the queue, you may press *11 again.

I would now like to hand the call over to Nicholas Siebert, SVP Corporate Development and Investor Relations. Please go ahead.

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Unidentified_2 [2]
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