May 1, 2019
AMC Networks subsidiary RLJ Entertainment May 1 recorded first-quarter (ended March 31) operating loss of $3 million, which was 51% less than the $6.1 million net loss from the previous-year period when the home entertainment distributor was a separate company. Revenue increased 19% to $22 million from $18.5 million last year.
Last Halloween, AMC acquired majority ownership of RLJE, making Robert L. Johnson’s namesake company a privately-owned subsidiary of AMC, with a 17% minority stake held by Johnson.
In addition to packaged media and digital distribution, AMC sought RLJE’s over-the-top video services — Acorn TV and Urban Movie Channel, which collectively have almost 1 million subscribers, and majority interest in Agatha Christie Limited.
Agatha Christie Limited generated operating income of $2 million.
AMC’s other branded OTT ventures include Sundance Now and Shudder, which together with RLJE, AMC Networks International, IFC Films and production services company Levity Entertainment Group, generated an operating loss of $14 million on revenue of $171 million.
That compared to an operating loss of $17 million on revenue of $111.7 million during the previous-year period.
Overall, the network behind “The Walking Dead” and “Killing Eve,” reported net income of $143 million on revenue of $784 million. That compared to income of $157 million and revenue of $741 million last year.
“With our focused, well-priced and desirable collection of [business] assets, we occupy a differentiated space in the media landscape,” CEO Josh Sapan said in a statement.
AMC recently greenlit a third “Walking Dead” original series. “Fear the Walking Dead,” just began its fifth season. Launch date for 10th season of ‘The Walking Dead” hasn’t been announced.