AMC's Q1 Ad Sales Soar, Up 30%
AMC Networks posted soaring advertising sales growth for its first-quarter results.
The group of networks -- which includes AMC, WE tv, IFC and Sundance Channel -- witnessed almost a 30% spike in advertising revenue, mostly as a result of its AMC channel.
AMC didn't break out actual advertising revenue results, but it said overall revenue -- including affiliate fees -- was at $304 million, 20.8% higher than in the prior-year quarter. Affiliate fees climbed 15% during the period.
Overall company revenues -- including international networks -- climbed 19.5% to $326.3 million. Net income leaped to 44%, to $43.2 million from $29.8 million.
Josh Sapan, president and chief executive officer of AMC Networks, said there were record ratings gains for some of its shows -- notably AMC's "The Walking Dead." He says the season finale of "Dead" -- posting nine million total viewers -- was also the highest scripted drama in basic cable history in key advertiser demos. "Mad Men" in its fifth season is also at record highs.
Sapan said: "These successes underscore the strength of our original programming strategy, which continues to drive audience and advertiser demand for our networks.”