When it comes to prestige TV, AMC has been an important player for years, but as the entire entertainment industry moves towards streaming, the network is looking to take a slower, more strategic approach than many others when it comes to expansion.
When discussing AMC+ on Thursday at MoffettNathanson’s Media & Communications Summit conference, interim CEO Matt Blank has said the company is not concerned with rapidly growing its subscriber base, but is instead focusing on creating “unique” content. The streamer not only features current and legacy series from AMC, but is also the home of horror streamer Shudder, indie network Sundance Now, BBC America, and IFC Films.
Despite the impressive and artistically diverse content on the service, the streamer is looking to build gradually rather than fast and hot.
“From a scale standpoint, we do not have to grow 2 million subs a quarter,” Blank explained. “We’re very deliberate in growing this business. The whole streaming business is washed with the same cloth. There’s so much noise out there. I think the good news from some of this noise is that everyone’s going to start looking more carefully at the business side of streaming.”
The executive explained that, when compared to its competitors, AMC spends an average of $1 million less for each hour of original content that it produces. Blank also pointed to the firm’s strategy of operating specialist services, such as Shudder and standalone British TV offering Acorn TV.
Elsewhere, Blank suggested that traditional pay-TV does not have to directly compete with on-demand services. “Everyone seems to be obsessed with linear versus streaming and I don’t think that’s the relevant question.” He posited that operators should be exploring how to take advantage of new technologies while investing in content.
Blank’s appearance at the event follows AMC Networks’ first-quarter earnings in which the company reported an additional 500,000 streaming customers. The AMC networks now have 9.5 million subscribers across its family of services and say that they are on track to reach the company’s target of 20 million to 25 million by 2025.
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.