AMC Networks’ new stake in US cable channel BBC America allowed the cable channels group to record double-digital second quarter revenues, financial results show.
Q2 revenues grew 15.1%, or US$79 million, year-on-year to US$601 million following the US$200 million acquisition of a 49.9% stake in BBC Worldwide’s BBC America last year.
AMC s behind shows such as The Walking Dead, Breaking Bad and the upcoming Fear the Walking Dead.
The firm’s national networks business, which includes AMC and BBC America, grew 22.8%, though the firm’s international channels business, which has been rolling out AMC Global since November, decreased US$12 million. AMC Networks International is group with other assets such as global programming business IFC Films, international film distribution and digital distribution initiatives.
AMCN’s operating income was up 22.7%, or US$29 million, at US$159 million.
“In addition to maintaining our core content strategy, we have become more of an owner of content; we have closely aligned ourselves with a premier producer of content through our BBC America joint venture; and we have expanded our global distribution footprint to include 140 countries and territories,” said AMCN president and CEO Josh Sapan.
“This strategic approach has enabled us to diversify our sources of revenue and has set us up well for an increasingly digital future, one in which consumers exercise more choice and control over every minute of television they watch.”
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