AMC Networks is the latest company to release its Q3 financial report, but unlike Warner Bros and Disney, things aren’t looking great for AMC, according to a report from sandwich-themed Hollywood trade blog The Wrap. AMC ended up with $.91 earnings per share on $634.65 million in revenue, coming in underneath the predicted $1.02 on $660.58 million, numbers which we’ll all just nod our heads and pretend we understand. The basic gist is, they didn’t do as well as expected, thanks in part to restructuring costs and lower ad revenue at networks including AMC, WE tv, BBC America, IFC and SundanceTV.
However, AMC has one ace up it’s sleeve that should improve things in Q4, according to CEO Josh Sapan: The Walking Dead.
“Recently, AMC debuted the seventh season of ‘The Walking Dead’ with a powerful episode that was watched by more than 20 million viewers, making it the most watched program on television for the fifth consecutive season, among key demos,” Sapan said in a press release. “Across the company, our programming continues to resonate broadly and is desirable in both linear and non-linear environments. We continue to participate in emerging streaming TV offerings, most recently joining the new DirecTV Now service, in addition to Sling TV and Sony’s… zzzzzzZZZZZZZZZZ…”
Oops, sorry, I fell asleep during that quote. Where were we?
“…PlayStation VUE. Through our growing AMC Studios operation, we continue to produce, create, own and distribute premium content that provides us with substantial economic benefits and positions us well for long-term success and growth.”
So there you have it. The Walking Dead will save AMC from its financial woes! Oh, and new episodes of Doctor Who will return to BBC America, in which AMC owns a 49% stake, next year, which should help as well.
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