AMC Networks has informed customers of their streaming service AMC Plus that they will have to shell out a bit more for access to “Mad Men,” “The Walking Dead” and “Killing Eve” heading into the new year.
Starting this week, AMC Networks is charging $7 per month for access to the ad-supported tier of AMC Plus and $10 per month for commercial-free streaming. Both plans also include access to AMC’s portfolio of linear cable networks over streaming, including the flagship AMC channel, BBC America, IFC, Sundance and We TV.
AMC Plus is the flagship streaming service of AMC Networks, and includes the content libraries of AMC Network and streaming services Sundance Now, Shudder and IFC Films. The company maintains its smaller streaming services on a standalone basis.
As of the third quarter (Q3) of the year, AMC Networks counted nearly 12 million streaming subscribers across its various products. The company does not break out specific figures for AMC Plus relative to its smaller services like Shudder and IFC Films. AMC’s direct-to-consumer business earned $152 million in revenue last quarter, up 7 percent on a year-over basis, with executives citing price adjustments as a major factor in the increased revenue line.
While AMC’s streaming business has momentum, the growth wasn’t enough to offset severe losses in the company’s cable television business, which earned $316 million during Q3, down 5 percent on a year-over basis.
The price increase enacted this week is likely to help further offset losses in the cable TV sector as AMC readjusts its priority around direct-to-consumer streaming and its connected TV advertising business.
Publicly, AMC Networks says the price adjustment is intended to better reflect the value of its content library.
“To continue delivering a collection of world-class originals, award-winning series, and exclusive movies from AMC, Shudder, Sundance Now, and IFC Films, we are changing the price of AMC Plus subscriptions,” a spokesperson for the company said in a note to AMC Plus subscribers this week.
Fans of AMC programming might be able to save some cash by subscribing to a cable-like service that carries its channels and streaming service in a base entertainment plan. Wallet-conscious streaming service Philo offers AMC Plus as part of its $28 per month base programming package, which also includes AMC-owned TV channels and the AMC video on-demand library.
