AMC is continuing its push to become one of the most recognized networks on cable.
The network's Q3 numbers exceeded expectations and AMC CEO Josh Sapan credits the success to Fear The Walking Dead and Doctor Who, which airs on the AMC-partner, BBC America. "We continue to invest in our international business, growing our portfolio of strong local brands and launching the AMC brand into new markets,” Sapan says. “We are confident our approach to creating great content and building networks with distinct brands that resonate with viewers will continue to drive our performance over the near- and long-term and deliver value for our shareholders.”
In Q3, AMC networks saw net income of $72.8 million, which is a 36.9% increase from a year before, on revenues of $632.2 million, up 21.7%. Earnings at 99 cents a share also exceeded expectations of 85 cents.
The National Networks unit had the biggest gains with results from BBC America — part of a joint venture AMC it forged with the BBC in October 2014 — included in the group with AMC, WEtv, IFC, and Sundance Channel. Revenues increased 31.3% to $521.6 million with cash flow up 45.1% to $186.6 million. Ad sales increased 52.3% to $210 million while distribution revenues were up 20.1% to $311 million.