An increase in international revenue at AMC Networks international business was offset by increase programming and marketing costs in the cable channel group’s most recent quarter.
US MSO Cablevision approved the spin-off of its US and international cable networks into a separate business, AMC Networks, in June. The new unit, which comprises the US and international versions of AMC, IFC, IFC Entertainment, Sundance Channel, WE tv and Wedding Central, filed a quarterly financial report yesterday. It revealed that increased programming and marketing spending were largely responsible for a US$1 million (€740,000) decline in adjusted operating cash flow and US$1 million year-on-year increase in its quarterly operating loss of US$4 million.
The losses came despite a 13.8% increase in third quarter revenues that took the total to US$31 million.
Overall quarterly revenue of US$284 million was up 4.6% year-on-year. President and CEO Josh Sapan said: “The core of our growth strategy continues to be our investment in original programming. The Walking Dead season two premiere, which was the highest rated dramatic show ever in basic cable history against key adult demos, and our performance in the 2011-2012 upfront, underscores the strength of this strategy.”
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