Comcast and AMC Networks have renewed their carriage agreement for AMC’s linear networks and streaming services including AMC+.
AMC+ first launched on Comcast’s Xfinity platform in 2020 and has since become one of the biggest pieces in AMC’s streaming strategy. AMC+ combined with Shudder, Acorn TV, Sundance Now and ALLBLK were projected to have 9 million total subscribers by the end of 2021 and 20 million to 25 million total paid streaming subscribers by 2025.
Interim CEO Matt Blank, who took over as chief executive after Josh Sapan moved to an executive vice president role, rationalized the projected subscriber totals for AMC’s streaming services—which are small compared to the customer bases that larger services like Netflix and Disney+ have built—and described the amount as “absolutely transformational for us.”
“Twenty to 25 million subscribers will make streaming potentially the biggest contributor to our business. And these goals are very attainable. With our targeted strategy, we don’t compete with the other streamers and this puts us in a very solid, advantageous position as we navigate a streaming future,” said Blank.
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“We are excited to continue and also expand our longstanding partnership with Comcast through a new agreement that includes not only continued carriage of our cable networks, but also our fast-growing targeted streaming services including AMC+, which was made available first to Xfinity customers,” said Josh Reader, president of distribution and development for AMC Networks, in a statement. “2022 will be the biggest year of original programming in our company’s history, and Comcast’s Xfinity customers will have a front row seat for every second of it.”
“We’ve had a longstanding partnership with AMC Networks and are thrilled to continue it to provide our Xfinity customers with access to their content, including their growing library of original programming, across our industry-leading platforms,” said Rebecca Heap, senior vice president of consumer products and propositions at Comcast Cable, in a statement.