Core Insights - AMC Networks experienced double-digit declines in advertising and affiliate revenue in Q3, missing Wall Street analysts' earnings forecast [1][2] - CEO Kristin Dolan highlighted streaming gains as a sign of a transition towards a digital-focused business [1][2] Financial Performance - Revenue decreased by 6% in Q3, totaling $561.7 million, while earnings per share fell to 18 cents from 91 cents a year ago, missing the analysts' target of 34 cents [2] - Advertising revenue dropped 17% year-over-year to $110 million, attributed to declines in linear ratings and lower marketplace pricing [3] - Affiliate revenues fell 13% to $142 million, impacted by basic subscriber declines and contractual rate decreases [3] - Content licensing revenues decreased by 27% to $59 million, mainly due to timing and availability of deliveries [3] Streaming Performance - Streaming revenues increased by 14% to $174 million, primarily due to price increases, with streaming expected to be the dominant revenue source for the year [4] - The number of streaming subscribers rose by 2% year-over-year to 10.4 million [4] Cash Flow - Free cash flow for the quarter was $42 million, down 22% from the previous year, but the company aims to achieve a target of $250 million in free cash flow for the full year [4]