AMC Networks revenue rose 5.7% and adjusted operating cash flow (AOCF) increased 10.6% in the first quarter, driven by increased digital licensing and affiliate fees.
Overall revenue was $707 million in the period, driven by a 6.4% rise at its national networks (including AMC, IFC, WeTV, BBC America and Sundance TV). Distribution revenue, including licensing and affiliate fees, rose 10.9% in the period and ad revenue increased 1.3%. AOCF rose 10.6% to $287 million.
"AMC Networks is continuing to build on the momentum and strength of 2015 with a strong start to 2016," CEO Josh Sapan said in a statement. "First quarter 2016 revenues, AOCF and operating income were healthy and growing. Our performance continues to be driven by the strength of our brands and the popularity of our original programming, particularly The Walking Dead, Better Call Saul and Fear the Walking Dead, with viewers and advertisers. With the refinancing of our debt on favorable terms and the authorization of a $500 million share repurchase program, our Company remains focused on creating and delivering value for shareholders.”
