AMC Networks Inc. (NASDAQ:AMCX) Q3 2024 Earnings Conference Call November 8, 2024 10:00 AM ET

Company Participants

Nicholas Seibert - Vice President of Corporate Development & Investor Relations
Kristin Dolan - Chief Executive Officer
Patrick O'Connell - Chief Financial Officer
Kim Kelleher - Chief Commercial Officer
Dan McDermott - President of Entertainment and AMC Studios

Conference Call Participants

Thomas Yeh - Morgan Stanley
Steven Cahall - Wells Fargo
David Joyce - Seaport Research Partners
Charles Wilber - Guggenheim Securities

Operator

Good day and thank you for standing by. Welcome to the AMC Networks Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Nick Seibert, Vice President of Corporate Development and Investor Relations. Please go ahead.

Nicholas Seibert

Thank you. Good morning and welcome to the AMC Networks third quarter 2024 earnings conference call. Joining us this morning are Kristin Dolan, Chief Executive Officer; Patrick O'Connell, Chief Financial Officer; Kim Kelleher, Chief Commercial Officer; and Dan McDermott, President of Entertainment and AMC Studios. Today's press release is available on our website at amcnetworks.com. We will begin with prepared remarks and then we'll open the call for questions.

Today's call may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause actual results to differ. Please refer to AMC Networks' SEC filings for a discussion of risks and uncertainties. The company disclaims any obligation to update any forward-looking statements made on this call today.

We will discuss certain non-GAAP financial measures. The required definitions and reconciliations can be found in today's press release.

With that, I'd like to turn the call over to Kristin.

Kristin Dolan

Thank you, Nick. And thanks, everyone, for joining us. It's been about 18 months since I became CEO of AMC Networks, and I am proud of the work we've done to orient the company around our popular, high-quality content and unique advantages even during a changing and uncertain time in media.

We're pleased with our results in the third quarter. I'd like to note the significant progress we've made against one of our major priorities, generating free cash flow. Year-to-date, free cash flow is already $293 million and we're well on our way to delivering our stated goal of approximately $0.5 billion in cumulative free cash flow over two years. We're focused on three key strategic pillars -- programming, partnerships and profitability. During the quarter, we made significant advancements across all three areas. I'll start with partnerships.