The Walking Dead Drives AMC Profit Growth
The AMC Network is reporting sizable profit growth in the first quarter of 2014. The network saw a revenue increase $143 million, or 37.3%, to $525 million over the first quarter of 2013. "AMC Networks continued to build momentum in the first quarter of 2014," said President and Chief Executive Officer Josh Sapan "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, which grew 24% in total viewers for its fourth season and remains the highest rated show on television among the most coveted demographic." The company's revenue increase comes largely in part from increased ad revenue, particularly ads that aired during AMC's original programming block that included The Walking Dead, which aired the last half of its fourth season during the first quarter of the year.