National networks, original programming drive strong first quarter for AMC Networks
| 10 May 2014
A 37% year on year increase in net revenue to $525 million and operating income up 15.8% to $148 million were the stand-outs of a very strong first quarter of 2014 for AMC.
The US content giant benefited well from the continued success of its national networks — which principally consist of the company's four nationally distributed programming networks, AMC, WE tv, IFC and SundanceTV — and original series such as The Walking Dead. At the end of the first quarter ended 31 March 2014, the flagship series grew 24% in total viewers for its fourth season and, said AMC, remains the highest rated show on television among what it called “the most coveted demographic.”
Overall AMC also witnessed 20.7% growth of national networks and an increase of $66 million of international and other business compared with Q1 2013. Other business also included a contribution from the acquisition of Chellomedia. First quarter net income from continuing operations was $72 million ($0.99 per diluted share), compared with $62 million ($0.85 per diluted share) in the first quarter of 2013.
"AMC Networks continued to build momentum in the first quarter of 2014, with double digit increases in revenue and AOCF. At our national networks, our original programming performed well, driving attention for and strengthening our network brands, with series including IFC's Spoils of Babylon, SundanceTV's The Red Road, WE tv's SWV: Reunited and AMC's The Walking Dead,”commented president and CEO Josh Sapan.
“Having completed our acquisition of Chellomedia, we are quickly integrating those networks and are streamlining our operations. We view our now-robust international platform as a springboard for additional growth for the company in the years ahead as we continue to focus on creating and delivering maximum value for our shareholders." inShare0