May 5, 2022
AMC Networks, whose streaming services include British-themed Acorn TV, AMC+, horror-based Shudder, Sundance Now, ALLBLK, and anime focused HIDIVE, said its direct-to-consumer platforms added a combined 500,000 subscribers in the first quarter ended March 31.
The platforms ended the quarter with 9.5 million subs. AMC says the D2C unit remains on track to achieve long-term subscriber goal of 20 million to 25 million streaming subs by 2025.
Acorn TV and ALLBLK (formerly Urban Movie Channel) were acquired through AMC’s 2018 acquisition of home entertainment distributor RLJ Entertainment.
In the quarter, AMC launched several free ad-supported streaming TV channels, including AMC en Español, ALLBLK Gems, HIDIVE x ANIME, Shorts, Cortos, and OVERTIME.
“We continue to advance our differentiated strategy of offering streaming services that appeal to audiences with distinct affinities and passions, which is leading to strong consumer loyalty and low churn,” Interim CEO Matt Blank said in a statement.
In the quarter, AMC greenlit AMC+ and AMC original series “The Walking Dead Universe’s Isle of the Dead,” starring Lauren Cohan and Jeffrey Dean Morgan’ “Straight Man,” starring Bob Odenkirk’ “The Driver,” starring Giancarlo Esposito, and “Orphan Black: Echoes.”
The company reinvented IFC Films’ Pay-1 window to offer exclusive movies on AMC+, every Friday, beginning May 6. It also launched the AMC+ streaming bundle in India on Apple TV Channels. The bundle includes The Walking Dead Experience, Shudder, Sundance Now and IFC Films Unlimited.
Separately, AMC’s “international and other” business segment, which includes RLJ Entertainment, saw revenue decline 9% to $110 million from $120.8 million in the previous-year period.