AMC Streaming Services Gain 100,000 Subscribers in Third Quarter; Streaming Revenues Rising
Streaming revenues continue to rise for AMC, and the company may have gotten a subscriber boost from licensing several of its shows to Max.
As one of the smaller streaming operators in the country, AMC is a fascinating case study as streaming platforms attempt to transform themselves into profitable businesses. The company owns and operates several streaming services, including AMC+, Acorn TV, ALLBLK, Shudder and Sundance Now.
- AMC streaming services gained 100,000 customers during the third quarter.
- The company saw linear revenues fall, but streaming revenues rose 9% during the quarter.
- AMC’s decision to license seven series to Warner Bros. Discovery’s streamer Max could have had a big part in its additions, as well as the premiere of “The Walking Dead: Daryl Dixon.”
How Did AMC’s Streamers Do This Quarter?
The second quarter of 2023 saw AMC lose 200,000 streaming customers, and a shift in the way it accounts for potential subscribers led to its overall total dropping to 11M. Although the company did not make good on all those losses in quarter three, it was able to chip away at them, as it netted 100,000 new customer additions between the start of July and the end of September, bringing its total to 11.1M.
Revenue-wise, AMC’s streaming services are some of the only segments of the company improving their figures. Streaming revenues grew 9% year-over-year during Q3, where as cable subscription, affiliate and advertising income all fell, leading to an 8% decline in domestic operation revenues for the company overall.
What Were AMC’s Biggest Streaming Stories of Q3?
Helping AMC grow its streaming revenues is the fact that it now offers an ad-supported tier of AMC+. That plan launched in late September at a price point of $4.99 per month, and it should help AMC increase its average revenue-per-user (ARPU) as well as boost its revenues from advertisers themselves.
The company’s boost in subscribers could be partially attributable to its decision to license seven shows to Warner Bros. Discovery to air on that company’s streamer Max. “Anne Rice’s Interview with the Vampire,” “Dark Winds,” “Gangs of London,” “Fear the Walking Dead,” “Killing Eve,” “A Discovery of Witches,” and “Ride with Norman Reedus” all streamed on Max from September to the end of October.
No ratings or other metrics were given by either company as to how well those shows did on Max, but WBD agreed to a similar licensing arrangement with Netflix to export several shows to that service recently as well. That deal led to greater engagement for those shows on both platforms, so it’s certainly possible that AMC streamers saw a corresponding bump from the deal with Max.
“The Walking Dead: Daryl Dixon” also no doubt helped AMC+ grow this quarter. The series debuted on Sept. 10, and became the biggest premiere in the history of the streaming platform. AMC is continuing to plug along in the streaming world, improving its financial outlook despite its relatively tiny customer base.
AMC+
AMC+ is a premium streaming bundle that includes the best from AMC, BBC America, IFC, SundanceTV, Shudder, Sundance Now, and IFC Films Unlimited containing original, award-winning series, popular movies, festival favorites, plus horror, sci-fi, true crime, and thrillers. You can subscribe to AMC+ for $4.99 / month or save with the annual plan for $59.88 / year.