AMC Networks closed out the first quarter of 2023 with 11.5 million streaming subscribers. While this does represent a loss compared to the fourth quarter of 2022, it is up on the first quarter of last year.
In addition to the linear channels it operates, AMC Networks operates a number of streaming services as well. Most notably, AMC Plus, Acorn TV, ALLBLK, and Shudder. In particular, AMC Plus unlocks access to content from multiple networks and services, including AMC, BBC America, IFC Unlimited, Shudder, and Sundance Now.
When taking all of these networks and services into account, AMC Networks had 11.5 million subscribers as of March 31, 2023. Considering AMC Networks reported 11.8 million subscribers as of December 31, 2022, the latest figures represent a drop of roughly 300,000 subscribers during the first three months of this year.
If looking further back and comparing year-over-year performance, things are a little more positive. AMC Networks reported 9.5 million streaming subscribers as of March 31, 2022. This means that the number of streaming subscribers grew by 2 million over the course of the year, resulting in a 22% year-over-year increase.
Previously, AMC Networks had said that the goal was to get to between 20 million and 25 million streaming subscribers by 2025. In spite of adding 2 million subscribers during 2022, it remains to be seen whether AMC Networks can more than double the number of subscribers it currently has in order to reach that goal.
The company has confirmed that it plans to add an ad-supported tier to AMC Plus soon. Similar to other services, the addition of an ad-supported plan is expected to result in a lower monthly subscription cost, which might help to further increase the number of streaming subscribers in future quarters.