“Gangs of London”
August 9, 2024
AMC Networks Aug. 9 reported an increase of 600,000 subscription streaming VOD subscribers in the second quarter ended June 30. The media company, with SVOD platforms that include AMC+, Acorn TV, Shudder, Sundance Now, and ALLBLK, said it ended the fiscal period with 11.6 million combined subscribers.
Streaming revenue increased 9% to $150 million from $137.6 million in the previous-year period, driven by year-over-year subscriber growth and price increases.
When including linear television, subscription revenue decreased 3% to $323 million from $333 million, primarily due to declines in the linear subscriber universe, partially offset by an increase in streaming revenue.
In the quarter, AMC expanded a longstanding relationship with Netflix by striking a deal to curate and window 15 prior seasons of AMC branded shows on the streamer’s platform beginning Aug. 19.
Netflix was integral to launching the global appeal of AMC’s “The Walking Dead,” “Breaking Bad,” and “Better Call Saul,” among other series, after it began streaming episodes of the popular show.
AMC also entered into a new licensing partnership with Comcast-owned Sky, making Sky the new home of “The Walking Dead” Universe in the United Kingdom.
AMC CEO Kristin Dolan said the company would continue to find opportunities as part of a strategic plan built around programming, partnerships and profitability.
“Key to our plan is the creation and curation of celebrated films and series, and making them available to audiences everywhere, including through an exciting new branded content licensing agreement with Netflix,” Dolan said in a statement.
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