Today, AMC Networks announced that it has added 100,000 new streaming subscribers to its AMC+, Shudder, and other streaming services in the 3rd quarter of 2023. This comes as AMC lost 500,000 streaming services in the 2nd quarter of 2023.
“During this period of experimentation and change in our industry, we continue to execute on our plan and effectively manage the business with a focus on high-quality programming, strong partnerships and profitability. In addition to introducing an ad-supported version of AMC+, we extended our leadership in TV advertising through the launch of programmatic buying on our linear networks, an industry first. Partnership examples included a
promotional pop-up on Max and strong presence on the new Xumo offering from Comcast and Charter. The Walking Dead: Daryl Dixon was the biggest ever debut for AMC+, one of many programming highlights in the quarter. We are well positioned to achieve our free cash flow goals for the year and remain focused on responsible content investment and monetization across a wide array of distribution platforms and licensing opportunities.” Said Chief Executive Officer Kristin Dolan.
Streaming revenues were $142 million, an increase of 9% over the same period in 2022. This was driven by subscriber growth and what AMC says was a focus on higher-value subscribers.
This all comes as AMC recently launched an ad-supported version of AMC+ to help it attract new subscribers.
Over all the revenues at AMC dropped 6.6% vs the same period in 2022. In total AMC brought in 636.954 million subscribers.