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This is “a new, developing phenomenon,” AMC Networks CEO Josh Sapan told investors this morning at the Barclays’ Global Technology, Media and Telecommunications Conference. Although advertisers still crave ratings points, they also increasingly want to reach people who say that “there are only two or three shows I watch and I live and die for them.” The trend is gaining momentum as viewers discover opportunities to binge view shows on pay TV, VOD and streaming services 
including Netflix and Amazon Prime. In addition, young viewers become obsessive about programs when social networks such as Facebook and Twitter help to connect them with others who share their passion. As a result, “that favorite stuff in media is emerging as the most important [driver] of value,” Sapan says. That’s encouraging for networks such as AMC — which has high-engagement hits with dramas including Mad Men, The Walking Dead, and Breaking Bad. But it’s hard to build a business around the trend: “Good dramatic TV shows aren’t known until they’re on,” he says. And nobody has perfect pitch. “There are many shows that have spectacular television pedigree and the show doesn’t work” while others from untested producers or stars “take off like crazy.” Sapan says he’s encouraged by his upcoming shows including Low Winter Sun (a police drama), Turn (about Revolutionary War spies), Halt & Catch Fire (about the computing boom in the 1980s), and Line Of Sight (a sci-fi drama the AMC chief calls “nuanced and exquisite”). READ MORE »
AMC Networks Chief Says TV Advertisers Want Viewer Passion As Well As Ratings
WE TV Eyes Expansion Into Scripted Programming With Series Order To AMC’s LaGravenese/Goldwyn Drama Pilot
EXCLUSIVE: AMC Networks‘ female-focused WEtv is looking to follow in the footsteps of siblings AMC, IFC and Sundance Channel by moving into original scripted series. I hear WE is getting help in its plans from AMC, … Read More »
AMC Networks Chief Says ‘Rectify’ Helps Sundance Channel’s Effort To Add Ads
“We’re paying particular attention to Sundance” because of the campaign to begin folding in commercials — due to take effect toward the end of this year — AMC Networks CEO Josh Sapan told analysts this morning. The company … Read More »
AMC Networks Q1 Results Beat Forecasts With Strong Ad Sales For Original Shows
The stock price is up nearly 6% pre-market after the company released a Q1 report that showed strong results in most key metrics. AMC Networks generated net income of $61.5M, +42.5% vs the period last year, on revenues of … Read More »
AMC Networks CEO Josh Sapan Made $8.9M In 2012, -22.6%
AMC Networks‘ C-suite shouldn’t consist of mad men based on the raises everyone but the CEO received last year. The increase in Josh Sapan‘s non-equity incentives wasn’t big enough to compensate in a drop in stock awards. His … Read More »
Cablevision Receives Bulk Of The Cash From VOOM Case Settlement
The cable operator will pocket $525M and AMC Networks will end up with $175M the companies said today in an SEC filing. This was the last big question remaining after Dish Network agreed in October to pay $700M … Read More »
Jim Maiella Named SVP Corporate Communications At AMC Networks
NEW YORK, NY, March 13, 2013 – AMC Networks Inc. announced today that it has appointed James Maiella Senior Vice President, Corporate Communications. He will report to Ellen Kroner, Executive Vice President, Communications & Marketing.
In this role, Maiella will oversee business and trade media relations for AMC, IFC, WE tv and IFC Films. He will work closely with AMC Networks’ other Senior Vice President of Corporate Communications, Georgia Juvelis, who now adds additional corporate communications and corporate marketing responsibilities to her role, while continuing to oversee business and trade media relations for Sundance Channel and AMC/Sundance Channel Global, the company’s international programming business.
Anchor Bay Inks Home Entertainment Deal With AMC, IFC, And Sundance Channel
AMC‘s Walking Dead partnership with Anchor Bay was such a success that the companies are teaming up for more TV-on-DVD distribution. Anchor Bay will handle North American DVD, Blu-ray, and certain digital … Read More »
AMC Networks Will Increase Investments in Sundance Channel And Internet Distribution
These look like interesting defensive maneuvers at a time when cable and satellite companies are threatening to drop little-watched channels. Sundance — which only reaches about 52M pay TV households — would seem to be vulnerable in some negotiations, although AMC Networks says it has recently completed long-term deals with Comcast, AT&T, and Verizon. But AMC Networks CEO Josh Sapan told analysts today that he recognizes the channel “is undernourished, in need of (investment) and rich in opportunities.” While execs offered few specifics, they noted that on April 22 Sundance will introduce its first fully owned scripted series, Rectify (from the producers of Breaking Bad), and that a second one will be coming as soon as next winter. There’ll be at least two scripted series in 2013 vs one in 2012. In addition, the company just announced that beginning March 4 Sundance will show the first four seasons of AMC’s Breaking Bad. Along with the Sundance investments, AMC is researching online distribution opportunities that “shouldn’t be confused with TV Everywhere” — the industry-wide streaming initiative — Sapan says. The goal is to become “educated and smart” in the possibility of distributing shows directly to consumers. “Think iTunes,” he says.
Related: AMC Networks Misses Q4 Earnings Estimates Following Dish Network Dispute Read More »
AMC Networks Misses Q4 Earnings Estimates Following Dish Network Dispute
The cable programming company’s shares fell 10.4% in initial trading this morning after it released Q4 financials. AMC Networks says it generated $15.2M in net income in the quarter, -48.5% vs the previous year, on revenues of $366.7M, +8.2%. Analysts expected revenues to be closer to $370.1M. And earnings at 21 cents a share fell short of forecasts for 65 cents. AMC says it missed about $31M in affiliate fees in Q4 as a result of the fight with Dish Network, which kept AMC Networks’ channels off the No. 2 satellite service for several months ending November 1. Since the breach of contract dispute involved the defunct VOOM suite of HD channels, the litigation expenses show up in the International and Other unit where revenues fell 16.9% to $32.6M and operations ended up with a $4.3M loss from last year’s $6.9M profit. Over at the main National Networks business, revenues were up 10.8% to $338.6M with an operating cash flow of $106.7M, +5.6%. AMC says that ad sales were up 16% to $157M “due to strong demand for our original programming, primarily at AMC.” Distribution revenues were up 6.8% to $182M. But the company notes that it had to shoulder higher programming and marketing expenses as well as the temporary loss of carriage on Dish. Read More »
AMC Networks Reaches Carriage Deal With Verizon FiOS
Looks like AMC Networks’ warning to Verizon FiOS‘ 4.6M subscribers that they were “about to lose” channels including AMC, IFC, and WE tv was all for naught. The companies announced they have a pact to keep the channels … Read More »
AMC Networks Warns Verizon FiOS Customers That Channels Could Go Dark
The programming company already has a website warning Verizon FiOS‘ 4.6M subscrubers that they are “about to lose” channels including AMC, IFC, and WEtv when the current contract expires at year end. Now AMC Networks is reaching … Read More »
AMC Networks Tops Q3 Earnings Forecasts Despite “Material Impact” From Dish Network Dispute
The Q3 message for AMC Networks comes from William Shakespeare: All’s well that ends well. Although earnings were down, everyone knows the main reason — the court fight with Dish Network that led it in June to drop the company’s channels. And as AMC chief Josh Sapan reminds this morning, that’s past and his company is “delighted to partner with them again.” Meanwhile, AMC topped the Street’s expectations. It generated net income of $36.6M, -8.4% vs the period last year, on revenues of $332.1M, +17%. That revenue figure is well ahead of the $288.5M that analysts anticipated. And earnings at 51 cents a share beat expectations for 37 cents. The company’s National Networks (AMC, WEtv, IFC and Sundance Channel) generated $306.2M in revenues (+18.5%). Affiliate fees rose 24.3%, to $199M, as digital and licensing deals offset the lost revenue from Dish. Ad revenues increased 9.1% to $107M. But operating income dropped 2% to $98.5M in part due to litigation and other costs for the Dish dispute. The company’s grab-bag category for international networks and other operations — including IFC Films — recorded revenues of $29.3M (-4.6%) with an operating loss of $12.9M, an increase from last year’s $4M loss. Read More »
Dish Network Chief Says AMC Deal Could Pay Off With More Hits Like ‘Walking Dead’
Dish Network Chairman Charlie Ergen can change his tune on an issue more elegantly than just about anyone in the media business. Consider how easily he just reversed himself in an analyst call where he explained his company’s agreement to resume carrying AMC Networks’ channels, which he dropped in June. He brought them back as part of the $700M deal to settle AMC’s breach of contract suit against Dish after it ended a 15-year agreement to carry the now defunct VOOM HD networks. Ergen noted that AMC’s hit The Walking Dead is “off the charts.” If the channel has more shows like that “then it will be a fair deal for us.” And he likes the AMC folks. “Absent the litigation we probably wouldn’t have gotten to that point” of dropping the channels. That’s a head-spinning shift from three months ago when he said it was a question of cost, not courts. AMC’s networks were too expensive, he said then, especially since “our customers are not looking at zombies in New York City… They live on farms and ranches.” What’s more, he preferred doing business with Mark Cuban, whose HDNet channels took the slots formerly held by AMC’s services.
Related: Dish Network Misses Q3 Expectations As It Absorbs VOOM And Hopper Costs Read More »
Does The VOOM Trial Settlement Show That Dish Network Was Shrewd To Drop AMC?
Sure looks that way — for the company, not Dish Network subscribers. AMC Networks shares are +3.9% in early trading following yesterday’s $700M agreement with Dish Network to settle the $2.4B breach of contract case involving the defunct VOOM suite of HD channels. But the surprise is that Dish is up 2.2%. Consider that a sigh of relief from shareholders who feared the worst from the lousy hand chairman Charlie Ergen had to play in court. A series of rulings by New York Supreme Court Judge Richard Lowe III found that Dish destroyed or covered up important evidence that probably would have hurt its case — and made Dish a likely loser against the charge that in 2008 it wrongly terminated its 15-year deal deal to carry VOOM. Yet Ergen’s decision in June to drop the AMC channels appears to have paid off. The $700M settlement was “well below Street expectations” of at least $1B says Wells Fargo Securities’ Marci Ryvicker. Barclays Equity Research’s James Ratcliffe calls the amount “quite reasonable” in light of the court setbacks. Read More »
AMC Channels To Return To Dish As Lawsuit Settled; Satcaster To Pay $700M
Cablevision Systems and AMC Networks announced today they have settled all litigation with Dish Network. Settlement includes a new long-term agreement for Dish to resume carriage of AMC Networks including AMC, IFC, Sundance Channel and WE TV. AMC will … Read More »
Deadline Big Media With David Lieberman, Episode 6
Listen to Episode 6 of our weekly podcast Deadline Big Media With David Lieberman. This week, Lieberman and host David Bloom discuss whether the big entertainment companies, with their reliance on ever-increasing cable-TV fees, are driving off a fiscal cliff; what happened to Google in its awful quarterly earnings report; what to expect from the rest of earnings season; and whether a possible settlement of the $2.5 billion VOOM lawsuit will finally bring AMC Networks TV shows back to the Dish Network.
Deadline Big Media Episode 6 (MP3 format)
Deadline Big Media Episode 6 (M4A format)
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VOOM Case Appears Headed For Settlement, Driving Up Stock Prices
It started today with a note on the New York State Supreme Court’s website that says there’s a “possible settlement” in the case when the trial resumes on Monday. That was enough to drive up stocks for AMC Networks (+3.9%) and Cablevision (+4.3%) — the companies that filed a $2.4B breach of contract suit against Dish Network following its 2008 decision to drop the now-defunct VOOM suite of HD channels. The settlement hopes also contributed to a 4.8% jump in Dish shares. Investors are eager to see AMC’s channels return to Dish, which dropped them in June, and for the satellite company to be free of the threat of a courtroom loss that is starting to look inevitable following a string of embarrassing revelations that suggest it tried to hide evidence that it feared might hurt its case. “In the context of the $2.4 billion in damages originally sought, we believe a cash settlement could be worth between $200 million and $1 billion…equating to $1-$4 per share in aftertax cash consideration” for AMC,” Barclays Equity Research’s Anthony DiClemente says. He adds, though, that “the amount of a potential cash consideration is less important than the value of a new carriage deal.” Without Dish’s 14.1M subscribers, AMC could lose much as $100M per year in cash flow. “Assuming a 7 year deal, we estimate carriage would be worth $7 per share” for AMC, DiClemente says. Read More »
AMC Networks-Dish Trial Shut Down Until Monday
New York Supreme Court Judge Richard Lowe III abruptly dismissed the jury for the day, telling both sides in the case that they need to focus on the legal issues that have sidetracked the trial pitting AMC Networks against … Read More »
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