Business
AMC Networks Inc. Reports First Quarter 2023 Results
NEW YORK, May 09, 2023 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (NASDAQ: AMCX) today reported financial results for the first
About this update from Amc Global Media Inc.
[{"type":"text","content":"NEW YORK, May 09, 2023 (GLOBE NEWSWIRE) -- AMC Networks Inc. (\"AMC Networks\" or the \"Company\") (NASDAQ: AMCX) today reported financial results for the first quarter ended March 31, 2023. Chief Executive Officer Kristin Dolan said: \"AMC Networks has always been known for great content that breaks through in popular culture, receives critical acclaim and engages fans. In an environment of shifting consumption, we are committed to making our content available across the entire distribution ecosystem. While we reevaluate the pathways to content monetization, we are strategically reducing costs and streamlining our organization. These efforts contributed to a first quarter with strong margins and increased streaming revenue as we prioritized higher-value subscribers for our streaming portfolio. We remain focused on the overall profitability of the company as we continue to maintain a strong balance sheet, drive free cash flow and maximize shareholder value.\" Operational Highlights: Announced plans to launch ad-supported version of AMC+ later this year.Unveiled Audience+, a powerful new insights and data targeting platform that allows advertising partners to identify and reach viewers across ad-supported distribution platforms.Premiered second series in an expanding Anne Rice Immortal Universe, Anne Rice’s Mayfair Witches, which became the #1 freshman basic cable drama for the 22/23 season, the most successful premiere in the history of AMC+ and the most watched single season of any show on the platform. With second seasons of Mayfair Witches and Anne Rice's Interview with the Vampire on the way, announced development of a third series set in the world of the Talamasca.Completed production of the first season of TWD: Daryl Dixon and are finishing production on a new The Walking Dead Universe series, which reunites stars Andrew Lincoln and Danai Gurira in an epic story of faith, struggle, love, and reunion.Strengthened WE tv’s #1 position on ad-supported cable on Friday nights among A25-54 and strong return to scripted content with the commission of Bev is Boss, a new scripted drama based on the life of prolific career-making hip-hop manager, Deb Antney.Debuted [OSHI NO KO] on HIDIVE in April, the #1 series launch in HIDIVE's history.Expanded SundanceTV's successful True Crime Story franchise with the renewal of It Couldn’t Happe...