AMC Global Media Inc.

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the AMC Global Media First Quarter 2026 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. Please be advised that today's conference is being recorded. I will now hand the conference over to your speaker host. Nick Siebert, SDP Corporate Development and Investillations. Nick, you may begin.

Thank you. Good morning and welcome to the AMC Global Media First Quarter 2026 Earnings Conference Call. Joining us this morning are Kristen Dolan, Chief Executive Officer, Kim Kelleher, President and Chief Commercial Officer, Dan McDermott, Chief Content Officer and President of AMC Studios, and Mike Sharon, Chief Accounting Officer. 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 and 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 our filings with the Securities and Exchange Commission for a discussion of risks and uncertainties. The company disclaims any obligation to update any forward-looking statements made today. We'll discuss certain non-GAAP financial measures on this call. The required definitions and reconciliations can be found in the press release we issued this morning, which is available on our website at amcglobalmedia.com. And with that, I'd like to turn the call over to Kristen.

Thanks, Nick, and good morning, everyone. We've had a busy start to the year with the first quarter representing yet another successful quarter of double-digit streaming revenue growth and robust free cash flow generation. We saw a notable improvement in first quarter advertising revenue trends and remain encouraged by the progress we continue to see on that front. We also entered into a new long-term affiliation agreement with our partners DISH and Sling TV. We're tracking to plan across all key metrics and are pleased to reiterate our financial outlook for the year. As a reminder, our 2026 outlook contemplates consolidated revenue of approximately $2.25 billion, AOI of approximately $350 million, and free cash flow of at least $200 million. You may have noticed we recently changed our company name to better reflect the business we operate today. AMC Global Media is a studio-driven owner of world-class IP. We deliver programming in more than 100 countries and territories around the world on our own platforms and reach millions more through strategic licensing agreements. Our streaming business is the world's largest collection of targeted services, bringing you super fans of specific genres, a level of depth and curation they can't find anywhere else. In the U.S., we're reaching streaming customers through direct subscriptions and hard bundle arrangements with partners like Charter and Philo. To date, we've seen 1.8 million hard bundle activations. Later this year, DIRECTV will hard bundle the ad-supported version of AMC Plus into its video service. We expect this universe to continue to grow as streaming and linear distribution converges and consumer awareness of this additional value rises. These activations are in addition to our reported streaming subscribers of 10.1 million, which reflects our substantial retail customer base. We manage our business with a long range perspective and focus on creating high quality, enduring content, generating free cash flow and driving shareholder value. Streaming revenue is growing and now represents our number one source of domestic revenue. We expect stable domestic subscription revenue this year. While the quality and size of our streaming subscriber base remains important to us, over the past few years we have focused on free cash flow in lieu of subscriber targets. Because of this, we will no longer report streaming subscribers quarterly, although we will provide meaningful updates from time to time. We continue to grow our strong presence on CTVs. FAST is a key component of our digital strategy and also provides promotional and marketing opportunities for our pay platforms. We have more than 40 FAST channels today and will launch a dozen more in the coming months. We're also growing internationally as we expand our FAST presence in the UK, LATAM, and Spain. As we said last quarter, the streaming rights for one of the most watched shows in history, The Walking Dead, returned to us early next year. We've aligned our rights to January 2027 and envision licensing The Walking Dead Universe, which spans seven series and 352 episodes and counting, co-exclusively. We're seeing significant interest for this enduring franchise and are actively engaged in discussions with several major platforms. Last week, we had our annual upfront content showcase attended by our most important commercial and creative partners. It was great to come together to discuss new commercial opportunities and the content that will drive these relationships over the next year and beyond. We made a number of announcements, including that we've greenlit our next big original series for AMC and AMC+, a multi-generational racing drama produced in partnership with NASCAR called Thunder Road. Dennis Quaid will play the lead character, and we are already seeing notable inbound interest from advertising partners on this series. We also renewed our sports docuseries, Rise, in partnership with the NFL and Skydance Sports. Building on the success of the first season, which featured the San Francisco 49ers, Rise of the Saints will focus on the New Orleans Saints and the team's historic run in the years following Hurricane Katrina. Eli Manning and his father, legendary Saints quarterback Archie Manning, are both partners and will appear on the show, which will premiere early next year. And we announced a new partnership with Meta to make a number of our streaming apps available on the MetaQuest headset, starting with AMC Plus later this year. We're excited to meet fans on this immersive new platform. This month marks Acorn TV's second annual Murder Mystery May. Last year, this programming event drove Acorn to its biggest month ever. This year's major title is the new Brooke Shields series, You're Killing Me, premiering May 18th. We're also in production on a second season of Irish Blood, starring Alicia Silverstone, which last year became the strongest show in terms of acquisition in Acorn history. All reality, our newest targeted streaming service is seeing strong initial growth driven by the Love After Lockup, Mama June, and Bridezilla franchises. The service launched on Amazon late last year and is now also available through Roku and Apple. All Reality is a great example of how we continue to manage and adjust our streaming business to find and serve fans. A few recent content highlights to note. We launched The Audacity, AMC's newest prestige drama, and we go into production on a second season next month. We debuted a new season of our popular anthology series, The Terror, with The Terror, Devil in Silver. We've had a number of notable film releases over the last few weeks, including Forbidden Fruits, Faces of Death, and Over Your Dead Body, three very different titles that demonstrate the strength and breadth of our film business. We'll see the return of important franchises with Ant Rice's The Vampire Lestat, premiering on June 7th on AMC and AMC+, and the third season of The Walking Dead, Dead City, slated for later this summer. Lastly, the search for a new CFO is progressing, And while we aren't announcing anything today, we will update you when we have news to share. Our Chief Accounting Officer, Mike Sharon, is joining us on the call today. Mike's skill and leadership reflect the depth of our finance team and the executive strength across our entire company. Mike will now review our financial performance for the quarter, our outlook, and our continued focus on our capital structure, including the further debt reduction and planned additional share repurchases that we announced today. And with that, I'm pleased to turn the call over to Mike.