AMC has struggled to get traction for its AMC+ streaming service. Now its plans for AMC+ to offset losses to cord cutting have not become a reality.
According to a memo the Wall Street Journal got access to from AMC Chairman James Dolan, AMC’s streaming plans are failing. The memo indicates AMC had believed losses from cord cutting would be offset by streaming gains, but that expectation failed to become a reality. Dolan’s memo, per the WSJ, said that “mechanisms for the monetization of content are in disarray.”
Now to help attract more subscribers to AMC’s streaming efforts, AMC has announced that they will release a cheaper ad-supported tier of AMC+ later this year. This is according to an interview with The Hollywood Reporter.
Currently, AMC+ costs $8.99 a month, and AMC plans to offer a cheaper plan but has not announced exactly what the price of that cheaper ad-supported plan will be.
This comes as many media companies like AMC had expected streaming to be a one-for-one replacement for cable TV. Unfortunately for them, a growing number of cord cutters are skipping live TV streaming services like Hulu, Sling TV, YouTube TV, and more in favor of on-demand services like Paramount+, Disney+, and more.
Now AMC is struggling to stand out against competitors like Paramount+, HBO Max, and Disney+, to name a few.
AMC+ offers programming from AMC-owned networks, including AMC, IFC, SundanceTV, and BBC America. You will also find films and programs from AMC’s other streaming services, Shudder and SundanceNow.