AMC+, AMC Network’s recently launched streaming services bundles, expects to already surpass one million subscribers by the end of 2020.
AMC+ includes ad-free access to networks like AMC and BBC America, an on-demand library with shows like “Mad Men” and AMC streaming services Shudder, Sundance Now and IFC Films Unlimited. The subscription bundle launched in June but only for Comcast customers. Since then, AMC+ has added Dish Network, Sling TV, Amazon Fire TV and Apple TV to its list of distribution partners, and AMC Networks suggested that the increased availability will soon push AMC+ past the one million subscriber mark.
AMC Networks previously expected its four targeted SVOD services – Acorn TV, Shudder, Sundance Now and UMC – to have between 3.5 million and 4 million subscribers combined by the end of 2020. Now the company expects they will have more than 4 million by that point and, with AMC+ added to the mix, AMC Networks expects to have between 5 million and 5.5 million streaming subscribers.
“As a reminder, this is a goal that we previously didn't anticipate reaching until the end of 2022. So, we are fully two years ahead of plan and are far exceeding our earlier expectations,” said AMC Networks CEO Josh Sapan, according to a Seeking Alpha transcript. He added that AMC Networks will double its streaming subscriber count in one year.
AMC Networks expects its streaming business to generate approximately $200 million in revenue, up approximately 100% year over year.
“So, in just 12 months, we've also doubled the amount of revenue for our company coming from the streaming business. And we do think it's important to underscore that for a company of our size, the impact of 5 million subs today and 10 million, 15 million or 20 million subs in the future is very, very significant in terms of transforming the composition of our top line revenues,” Sapan said.