AMC Networks discloses $24.9 million impairment charge related to production services business 25/7 Media due to 'reduced demand for new content and series cancellations from third parties'
later this year, Acorn TV and Shudder, reported a 17 percent drop in second-quarter U.S. advertising revenue Friday.
Advertising revenue fell to $167 million “due to anticipated linear ratings declines, softness in the ad market and fewer original programming episodes within the quarter, partly offset by digital and advanced advertising revenue growth,” it said. The second quarter included new episodes of such original series as. The latest quarterly U.S. ad revenue update followed a first-quarter decrease of 20 percent and a fourth-quarter drop of 12 percent.
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