AMC Networks said it plans to restart production on the second half of Season Six of Fear The Walking Dead in Texas in late August; on new series Kevin Can F*** Himself in Boston at the end of Sept…
. It continues to develop new series and roll them out across platforms including DTC. It continues to insisted that it doesn’t have to be as big or compete with major players to succeed, an assertion that’s been met with varying degrees of skepticism by Wall Street as it cord cutting accelerates.
“SVOD is an increasing area of focus. Several big players are leading the charge but we decided there’s also room for premium, niche, genre focused services [that] fit with our company’s structure and our size,” said Sapan. AMC is moderating its sales of content to third parties “by degrees,” he said.
Streaming services Acorn TV, Shudder, Sundance Now and UMC “delivered impressive year-over-year growth in revenues and subscribers” the company said, not breaking them out but confirming that total subs would end the year at the high end of a previously anticipated 3.5 to 4 million range. AMC also touted its new SVOD bundle called AMC+, currently carried by Dish and Comcast’s Xfinity, and channel deals with Pluto and Sling TV and said more will be coming.
On the upfronts, the company is “having “productive conversations with all the major agencies,” Carroll said. “This will be a different upfront than in the past. It’s clearly slower [but] the agencies are … aware of tightening inventory concerns.” “The issue they have is [that] not all their clients have revealed what their budgets will be. We just don’t have visibility” into volume,” said Carroll. But “I think 3Q will be healthy. I think in 4Q we will be in full swing. We feel very good about where 2020 [will end] and [it] sets us up well in 2021, when we’re hopeful for normalized business conditions.”
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