AMC+ Nixes Second Season ‘Pantheon’ as Company Continues to Seek $400M in Write-Downs
AMC+ Nixes Second Season ‘Pantheon’ as Company Continues to Seek $400M in Write-Downs
The new year has not been kind at AMC so far. The company is throwing another series in the discard pile, as it has canceled the animated futuristic series “Pantheon,” which aired on AMC+. Despite Season 2 already having been produced, the series will not be moving forward on AMC+, according to an exclusive report from Deadline.
“Pantheon” is centered on a bullied teen who receives mysterious help from someone online; a stranger soon revealed to be her recently deceased father, David, whose consciousness has been uploaded to the Cloud following an experimental destructive brain scan. David is the first of a new kind of being — an “Uploaded Intelligence” or “UI” — but he will not be the last, as a global conspiracy unfolds that threatens to trigger a new kind of world war.
The cancelation of “Pantheon” by AMC’s streamer is just the latest in a lengthening list of removals. Earlier in the month, the company announced it was saying goodbye to “61st Street” and “Invitation to a Bonfire,” two live-action series that air on its linear network AMC. The former had already received a second season order and the latter had not yet begun filming.
It remains to be seen if this is the last of the cuts at AMC. A December filing with the SEC from the company stated that it was seeking a total of $400 million in tax write-downs, which would affect content across the board at AMC.
“As a result of the Plan,” states the filing, “the programming assessments pertain to a broad mix of owned and licensed content, including legacy television series and films that will no longer be in active rotation on the Company’s linear or digital platforms. The Company may realize some future licensing and other revenue associated with some of the owned titles.”
The last sentence indicates that AMC will likely try to shop its canceled shows to other networks, in order to recoup some of the lost revenue. No other media companies have stepped forward yet, but Netflix would be a logical place for AMC content to end up, as it has played host to past AMC series in the past, including “The Walking Dead,” “Breaking Bad,” and “Mad Men.”
The cuts at AMC are making Warner Bros. Discovery CFO Gunnar Wiedenfels look positively clairvoyant. Speaking at the Citi 2023 Communications, Media & Entertainment Conference on Jan. 5, Wiedenfels noted that other streaming services and media companies would have to follow HBO Max’s lead when it came to axing content in the name of savings.
That chapter may be over for HBO Max, but it looks to be just beginning at AMC. Fans of AMC content should be wary, as the company may have to take more drastic measures to ensure its survival in 2023.
AMC+
AMC+ is a premium subscription streaming bundle owned by AMC Networks. It offers curated access to award-winning originals, indie films, and prestige television. Launched in June 2020, the service combines content from AMC with flagship brands such as BBC America, IFC, Sundance TV, Shudder, Sundance Now, and IFC Films Unlimited, delivering a rich library of exclusive programming and early episode access.