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With Big ‘Silo’ Renewal By Apple TV+ And Return Of The “Netflix Effect”, AMC Networks Staying In Third-Party Licensing Game
AMC Networks execs say they are bullish on third-party licensing after the company's studio unit scored a two-season renewal on Apple TV+ for 'Silo.'
“Currently we’re producing pretty much exclusively for our AMC-owned platforms,” Dan McDermott, president of entertainment and AMC Studios, said Friday on a quarterly conference call with Wall Street analysts. Licensing was one of the few upbeat themes for AMC Networks in an otherwise disappointing quarter, with an ongoing ad slump helping to drag total revenue down 12% from the year-ago period. The company undershot Wall Street analysts’ consensus forecasts for revenue and earnings per share and also took a charge of $267.8 million to reflect the declining value of its linear networks.
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