Disc, Digital Drive AMC Networks’ Q2 Revenue Growth8 Aug, 2013 By: Erik Gruenwedel
AMC Networks Aug. 8 reported second-quarter (ended June 30) net income of $137.5 million, compared with net income of $41.5 million during the previous-year period. Revenue topped $379 million, compared with $327 million last year.
AMC, which includes AMC, WE tv, IFC and Sundance Channel, said revenue increased 17.5% to $206 million due to growth in affiliate fees, as well as increases in home video and digital distribution revenue.
AMC is home to pay-TV hits “Breaking Bad,” “Mad Men,” contemporary Western "Hell on Wheels," psycholgical mystery "The Killing" and zombie success “The Walking Dead,” among other original series.
The programs continue to resonate in both retail and digital distribution channels, including subscription video-on-demand. Notably, packaged media and digital sales of the third season of "Walking Dead" helped drive revenue.
“Our successful original content drove our overall financial results, with a 16% increase in net revenues and a 9% increase in [adjusted operating cash flow],” CEO Josh Sapan said in a statement. “Our original programming continues to fuel the performance of our networks and underpin the company’s growth, with last month’s 39 Emmy Award nominations for AMC, IFC and Sundance Channel, the most nominations of any basic cable programming group, contributing to our momentum.”
Sapan said AMC will bow a companion show to the final season of "Breaking Bad," called "Talking Bad," which allows viewers to interact online with hosts discussing the series' plot points. The show is patterned on "Talking Dead," an interactive series that follows each episode of "The Walking Dead."
"So we think that plot for 'Breaking Bad' makes a lot of sense," Sapan said in the AMC fiscal call.