Kristin. you, Thank
us during business operate of as change. principles on Our financial period is to the this and value dynamic approach maximizing allow we focus three transformative in effectively foundational rooted that shareholder
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spend investments and comes when aspirational continue is to and sheet. maintain of our including company capital, The to every that It's dollar allocate second is for this business our highly for being support AMC to flexible no Networks and as we opportunistic applies we thoughtful. our made that all balance remaining any as This how prudent longer a is And we are third sure objective as making core or healthy disciplined it the to operating in efficiently space. possible.
cash free of to most this all of progress evident notably above that fronts, flow quarter's I'm the quarter. reported this on the which we results, happy report seeing is $XXX we in meaningful are in million
As and titles strategy. to Kristin returned agreement in reach opportunistic an shifting output unwind Hulu Many with were deal advantageous future were to to of significant were us, as platforms on mentioned, our part working the viewers popular content acclaimed we them accelerated second payments cash quarter. gives our other opportunity This and us paid potentially as in shows and well. to critically platforms these to make available to the own and Disney's license
availability The the all Dead AMC+ is bring first viewers we prepare of manifestation The on Walking Fear fall. seasons six this final as the the episodes seven of this will to see viewers of
the We existing glad up to new this platform own the finale. on and our record-setting to of give franchise, we catch ability very as to be head are able to fans
The free were Hulu. cash flow free year, to second cash later out results approximately in free of which from Moving million our to contemplated expected that financial of prior receipts our $XX flow. guidance the approximately we benefit cash netting this and to rights occur impact in full flow, quarter year our net in benefit a $XX return million to resulted
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the recognized we million quarter. a second such, As charge in $XX impairment
Media As International XX/X segment. a and reminder, our is included Other in
Moving adjusted focus with operating performance. Consolidated on to share $XXX quarter on consolidated X% income is Consolidated XX% consistent second $XXX second from of revenue a million. the year. in reflects to delivered prior operating million, XX%, representing year margin strong Adjusted our of the the financial and earnings our last decreased margin $X.XX. to we per quarter was efficiency which decreased
XXX,XXX remove a This our our Streaming removal subscriber end. year on second of segment, X% to call subscribers, and change growth quarter $XXX the for the ago. $XXX million growth Subscriber this referenced conversions We've to figures definition. revenue our count XX.X X% a XX million. reflect definitional We to this million, quarter. at with second estimated operations estimated XX% year-over-year. in was subscribers decreased ended in decreased and subscriber representing growth compared subscriber Domestic of X% resulted period revenue rates approximately million our In the conversions quarter. from updated million Subscription representing streaming quarter new definition for to streaming revenue $XXX release
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grew the the revenue. declined Affiliate basic in quarter. nonrenewal XX.X% XX% increase of including the $XX strategic and impact driven the Moving earlier. licensing with forward rate was driven revenue contractual deliveries, Affiliate was timing offset partially performance of for revenue universe declines the discussed content affiliate and the licensing I revenue million. for from The to by pull increases. and Hulu X% revenue by quarter the domestic Fubo the subscriber Content revenue availability was to by in
revenue Second softness ratings, advanced decline linear advertising XX% growth. offset partly due advertising domestic lower in ad revenue digital quarter million. the fewer The of programming, $XXX revenue primarily advertising is to by and episodes decreased in market original and to
our platforms continue to networks as a ad Our ad-supported digital and experience similar peers. environment
adjusted attributable with income For the XXXX, quarter spending. climate and our Domestic their a soft margin given with decrease XX% efficiencies. advertising $XXX of marketing the million from in significant the remain decreased AOI lower revenues second XX%. by to second remained response partly quarter largely scatter affiliate and economic cost and with direct partners operations control The resulting conservative advertising operating was offset to of was for and lower SG&A
and International to other. Moving
largely million, discussed quarter, the revenue at $XX to revenue decrease For attributable in XX% in revenue series to content of The result second and $XX licensing to million. decreased XX% was the decrease I Media other a XX/X cancellations earlier.
to revenue revenue Our up growth with year. decreased second Networks channels subscription by Advertising healthy the X% is quarter. largely driven unprofitable certain remains business the last $XX of in million, X% $XX closure of representing AMC International million, which
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rights to payments payments, quarter $XX the driven of by $XXX related return flow cash by our Moving second initiatives. million and partly Consolidated was million balance previously the announced of and accelerated cash for sheet. free is offset cash primarily restructuring flow the to
quarter consolidated ratio and finance We of a ended $X net leverage leases the debt of net second with X.Xx. approximately and billion
flexibility facility. and $XXX the billion, financial balance sheet cash million total of our $XXX credit $X.X and undrawn liquidity substantial have revolving including We on approximately of million
focused opportunistic addressing XXXX remain to we'll our in be and maturities, continue and XXXX them. We on
allocation, remains our Regarding disciplined capital and philosophy opportunistic.
look to compelling that audiences, profitability First, we overall business support focus and balancing particular our towards creating flow cash with content the generation. with while a resonates
capital M&A to remain balance down Second, the and list. we further the and priority returning addressing mentioned. focused Strategic just I on maturities shareholders our remain sheet
outlook. our to Moving
said, the flow Networks cash potential free cash expectations million payments free cash AMC are around million related $XX not our for reflect time full return range Hulu. XXXX to in have of increasing $XXX flow of the now be outlook Our for year. from today, changed. the We over of free acceleration we in the rights to cash to $XXX million expect flow That to
to Excluding of the impact our approximately $XXX of million $XXX restructuring free in outlook onetime $XXX of payments, cash million flow cash be range the would million.
approximately $X.X for content expect investment XXXX. We be to cash continue billion to
we Thereafter, cash strong and billion investment to support $X a enough content business. programming our which forward, we expect anticipate more going will area our drive provide be content to than the slate in
our the strategic cost adjusted XXXX operating benefits reiterating measures. of for realize are we outlook income We as our
consolidated to for the the year expect of AOI $XXX the million full will range $XXX be million. in We
revenue We notably, content other investment the in current are Most which reflect licensing year to and impact updating further reduction guidance to revenues. dollars content our our industry, market trends. full expect we across the broad-based
recently that most at by of Media discussed series handful the evidenced was XX/X This cancellations earlier. I
domestic we In year. previously tougher expect market these marketplace remainder pertest anticipated, the than we and addition, the conditions throughout advertising the of to is
now we such, consolidated full $X.X be net to year approximately As billion. revenues expect
the be being our the will operating this across navigate unique company and monetizing significant for the are Networks earlier. strengths content, while being XXXX forward advantages mentioned and capital AMC disciplined challenges that I principles our a have felt as remaining closing, allocation. In we industry foundational and regarding that very focused year efficiently driven on Effectively
on a focus change we of We of drive fronts, transformation. to on as cash maximizing shareholder during are and have we to and ability encouraged these and our date period efficiencies in particularly all made by progress value flow the free
line open the that, for questions. please With operator,
