AMC+ streaming platform to get ad-supported option
October is the month AMC Networks is targeting for the option's release
The AMC+ streaming platform will see an ad-supported option introduced within some months’ time, according to a Monday announcement from AMC Networks.
AMC Networks said October is the month by which it aims for the ad-supported option of its flagship streaming platform to debut. The announcement of the upcoming new subscription tier comes ahead of the entertainment company’s 2023/2024 upfront.
It will bring subscribers more cost flexibility, the company said in a press release. Chief Commercial Officer Kim Kelleher also called it a "big moment" for the company and advertisers because it "creates a fully-ad supported distribution ecosystem" and "allows advertisers to buy our shows, genres and franchises in a much more comprehensive and impactful way."
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"With our new series content, library titles and other targeted streaming platforms that are all bundled into AMC+, partners can move beyond individual shows and even series and choose to ‘own’ whole genres and franchises, and drive messaging to target audiences no matter what they are watching or where," she said. "We’ve never been able to offer this level of sweeping yet highly focused reach before in such an effective and comprehensive way."
How much the service, which hosts AMC, BBC America, IFC, SundanceTV and other content, will cost subscribers under the new ad-supported option was not specified in the announcement.
Users of competitors like Netflix, The Walt Disney Co. and Warner Bros. Discovery already have seen ad-supported tiers get introduced.
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Video on demand, TV streaming, multimedia. Hand holding remote control (iStock / iStock)
The logo of the streaming service Netflix can be seen on a television. (Thomas Trutschel/Photothek via Getty Images / Getty Images)
An ad-supported option is slated to become available when Max, the new Warner Bros. Discovery streaming platform bringing together HBO Max and Discover+ content, debuts next month, a couple years after HBO Max made its own tier. Similar plans have rolled out at Netflix and Disney+ in early November and December, respectively.
By 2022’s year-end, the overall subscriber count of AMC Networks’ various streaming platforms came in at 11.8 million. Its AMC+ platform has been around since 2020, with shows such as "Mad Men," "A Discovery of Witches" and "Hell on Wheels" available through it.
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In February, the company reported generating $3.097 billion in 2022 net revenues, with $502 million in revenue coming from its streaming businesses. That annual revenue figure marked a slight increase year-over-year from 2021, when net revenues were at $3.078 billion.
AMC Networks’ 2022 net income plunged year-over-year to $7.59 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMCX | AMC NETWORKS INC. | 9.41 | -0.41 | -4.18% |