AMC Networks’ SVOD Services Top 6 Million Subs; Fiscal Loss Increases

AMC Networks’ foray into subscription streaming continues to grow, as do expenses. The media company behind “The Walking Dead” and owner of home entertainment distributor RLJ Entertainment, Feb. 26 disclosed that its SVOD businesses topped 6 million combined subscribers through the fourth quarter and fiscal year ended Dec. 31, 2020. That represents a growth of 157% from 3.8 million subs at the end of 2019.

AMC’s SVOD businesses include AMC+, Acorn TV, Shudder, Sundance Now, Acorn TV and ALLBLK (formerly Urban Movie Channel) — the latter two acquired following AMC’s $65 million purchase of RLJ Entertainment in 2018. In the quarter, AMC launched the AMC+ bundled streaming offering with Comcast, Dish Network and Sling TV and AT&T’s DirecTV platforms, as well as on Amazon Prime Video Channels, Apple TV Channels and Roku’s distribution platforms.

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“Streaming is now the most significant growth area of our company,” CEO Josh Sapan said in a statement.

Meanwhile, AMC’s “International and Other” segment, which includes RLJ Entertainment, saw Q4 revenue increase 7.5% to $216 million, from $201 million in the previous-year period. Operating loss narrowed to $77 million from $118 million.

For the fiscal year, revenue increased 1.7% to $747 million, from $734.5 million. The operating loss increased 31.9% to $224 million, from a loss of $169.8 million.

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