Financial Data and Key Metrics Changes - For the full year 2020, total company revenues declined 8% to $2.8 billion, with total company adjusted operating income at $767 million and free cash flow of $686 million [26][27] - In Q4 2020, total company revenue was $780 million, representing a decline of 1%, while adjusted operating income was $133 million [28] - The company reported $122 million in impairment charges, $86 million in programming expense write-downs, and $35 million in restructuring charges for the full year [27][35] Business Line Data and Key Metrics Changes - National Networks' revenues decreased 12% to $2.1 billion for the full year, with advertising revenue down 11% to $802 million [29][30] - International and Other revenues grew 2% to $747 million for the full year, with streaming revenue increasing 85% [32] - In Q4, National Networks' revenue decreased 3%, while International and Other revenue grew 8% to $216 million, driven by accelerating subscription streaming revenue [30][33] Market Data and Key Metrics Changes - The streaming run rate revenue increased from approximately $125 million at year-end 2019 to approximately $300 million at the end of 2020 [9][32] - The company anticipates over nine million paid subscribers by year-end 2021 and between 20 million to 25 million by 2025 [9][38] - The advertising market showed improvement in Q4, benefiting from special programming events and a strong scatter market [28][18] Company Strategy and Development Direction - The company aims to grow its streaming services, which are now the most significant growth area, and plans to expand internationally [10][14] - AMC Networks focuses on targeted content areas, such as British dramas and horror, to differentiate itself from larger general entertainment streaming services [12][13] - The strategy includes leveraging strong relationships with distributors and enhancing digital advertising opportunities [11][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the challenges posed by the pandemic and highlighted the importance of their content strategy [8][23] - The company expects 2021 to be a critical year for growth, with a focus on monetizing strong content across various platforms [23][38] - Management noted that the streaming services have a fundamentally different economic profile compared to general interest streaming services, which is expected to lead to better profitability [44][76] Other Important Information - The company repurchased 14.8 million shares for $354 million in 2020, with an average repurchase price of $23.91 per share [36] - The company fully monetized its stake in FuboTV, realizing gross cash proceeds of $96 million in January 2021 [37] - The company plans to invest in programming and marketing to support streaming revenue growth, expecting free cash flow to approximate $200 million in 2021 [38] Q&A Session Summary Question: Can you expand on the sequential improvement in affiliate revenues at the National Networks? - Management highlighted the changing nature of relationships with MVPD partners, emphasizing a new harmony that includes both linear and streaming discussions [42] Question: Can you share any updated views on streaming profitability? - Management noted that their streaming services have a different economic model, allowing for better profitability compared to general interest services [44] Question: Can you provide more detail on windowing content? - Management explained that windowing strategies vary by content and are guided by value for consumers [48] Question: How do you expect ARPU to trend over time? - Management expressed confidence in the stickiness of subscribers and the potential for ARPU growth as they expand their targeted services [63] Question: What are your thoughts on addressable advertising? - Management indicated that strong partnerships are essential for expanding addressable advertising, which has shown promising results in initial campaigns [68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to | --- | --- | --- | |---------------------------------------------------------------------------------------|----------------------------------------------------- ...

AMC Networks Inc. (NASDAQ:AMCX) Q3 2020 Earnings Conference Call November 2, 2020 8:30 AM ET Company Participants Seth Zaslow – Investor Relations Josh Sapan – President and Chief Executive Officer Donna Coleman – Interim Chief Financial Officer Ed Carroll – Chief Operating Officer Conference Call Participants Michael Nathanson – MoffettNathanson Research Steven Cahall – Wells Fargo Michael Morris – Guggenheim Securities Kutgun Maral – RBC Capital Markets Brett Feldman – Goldman Sachs Operator Ladies and ge ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 1-35106 | --- | --- | --- | --- | |----------------------------------------------------------------------------|------------------------------- ...

Financial Data and Key Metrics Changes - For Q2 2020, total company revenue was $646 million, and operating income (OI) was $25 million, both exceeding expectations due to favorable domestic advertising performance and lower expenses [24][25] - Advertising revenue declined 15% to $187 million, impacted by the pandemic and timing of original programming, but demand was stronger than anticipated [25][26] - Total expenses decreased by $82 million or 22% year-over-year, primarily due to the suspension of production activities and lower program amortization [27][28] - GAAP EPS was $0.28, down from $2.25 in the prior year, while adjusted EPS was $2.39 compared to $2.60 in the prior year [30] Business Line Data and Key Metrics Changes - National Networks revenue was $496 million with an AOI of $210 million; advertising revenue was significantly impacted by the pandemic [25] - International and Other segment revenues were $161 million, a decrease of $19 million year-over-year, but AOI increased by $3 million due to targeted SVOD services [29] Market Data and Key Metrics Changes - The company noted a decline in subscription revenues in the low double-digits, attributed to the overall decline in Pay TV subscribers [26] - The targeted SVOD services experienced strong growth, with expectations to end the year with 3.5 million to 4 million subscribers, leaning towards the higher end of that range [12][66] Company Strategy and Development Direction - The company is focused on creating high-quality content and monetizing it across various platforms, particularly through targeted SVOD services [9][10] - AMC Networks is positioning itself to take advantage of the streaming landscape, emphasizing the compatibility of its niche services with larger SVOD platforms [14][19] - The company is also expanding its digital advertising presence and exploring addressable advertising opportunities [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the pandemic's challenges, citing a strong balance sheet and healthy free cash flow [38] - The outlook for Q3 anticipates continued variability due to the pandemic, with advertising revenue expected to decline in the mid-to-high teens year-over-year [34][35] - Management remains cautious about future performance due to the fluid nature of the pandemic and its impact on production and advertising [34][36] Other Important Information - The company received 18 Emmy nominations, highlighting its ability to produce compelling content that resonates with audiences [19] - AMC Networks is adapting to viewer consumption patterns by launching products like AMC Select, which offers on-demand programming [23] Q&A Session Summary Question: Was Q2 demand for advertising stronger than expected? - Management confirmed that the scatter market was relatively healthy, with some categories being aggressive, leading to better-than-expected pricing and ratings [41][42] Question: How is the board thinking about public versus private benefits? - Management refrained from commenting on public versus private status but highlighted strong free cash flow and positive outlook for the second half of the year [43][44] Question: Can you discuss the pace of subscription revenue at National Networks? - Management noted that subscriber trajectories, particularly in satellite companies, are a significant factor, with some moderation in pricing during renewals [47][48] Question: What are the economics of SVOD services moving forward? - Management expressed confidence in reaching 5 to 7 million targeted SVOD subscribers by year-end 2024, with favorable churn rates and improving economics [66] Question: How is the company approaching AVOD? - Management is leveraging existing content on platforms like Pluto and Sling, viewing it as an opportunity to monetize their library without needing to own a platform [54][55]

AMC Networks, Inc. (NASDAQ:AMCX) Q1 2020 Earnings Conference Call May 5, 2020 8:30 AM ET Company Participants Seth Zaslow - Senior Vice President of Investor Relations Josh Sapan - President & Chief Executive Officer Ed Carroll - Chief Operating Officer Sean Sullivan - Chief Financial Officer Conference Call Participants Ben Swinburne - Morgan Stanley Bryan Goldberg - Bank of America Merrill Lynch Michael Nathanson - MoffettNathanson John Janedis - Wolfe Research Steven Cahall - Wells Fargo Michael Morris - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 1-35106 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which regis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2019 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 1-35106 | --- | --- | |------------------------------------------------------------------------------|------------------------------------------| | ...