AMC Global Media is close to finding a new streaming home for “The Walking Dead.” The company teased the news during its first quarter earnings call on Friday morning.
Last quarter, AMC’s blood-soaked crown jewel retuned to the company’s streamer, AMC+, after a long deal with Netflix. At the time, leaders at AMC Global Media noted that they were in conversations for a new licensing deal for their iconic series. Now that deal is getting closer.
“We’re really looking at every scenario. There’s a variety of ways to look at it,” CEO Kristin Dolan told analysts during the call. “We definitely feel it’s important to keep some of the content for ourselves co-exclusively, so we’re emphasizing the fact that we’re looking predominantly a co-exclusive deals, but there are some very large and enthusiastic partners in the bidding process right now.”
Dolan also said the company was open to possibly breaking up the licensing deal for “The Walking Dead” with different partners taking the series for different global territories.
“We may chunk it up, may all go to one partner, domestic versus international. There’s many, many ways to skin this cat,” she said.
On Friday, the company reported mixed results. Though revenue dropped 2% to hit $542.1 million, both revenue and earnings beat analyst estimates. Streaming revenue also rose 11% during the quarter to hit $174 million, which was largely thanks to price increases. Subscriptions from ad-supported AMC+ bundle agreements with other streamers were up 200% compared to the previous year, hitting 1.8 million. However, overall subscriber levels dropped 1% year-over-year to hit 10.1 million
Also during the quarter, AMC took a $4 million restructuring charge. About $3 million of that amount is due to the company’s voluntary buyout program for U.S. employees. Additionally, $2 million is connected to the company’s restructuring plan across its International territories, namely its office closures in Latin America.
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