Report: AMC Developing Web-Based Subscription TV Services

Wednesday, 18 Jun 2014 04:50 PM

 

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AMC Networks Inc., the cable-network owner that airs “The Walking Dead,” is developing Internet- based subscription video services, according to a person with knowledge of the situation.

The company will offer specialized content, such as documentaries, said the person, who asked not to be identified because the project is in the early stages. AMC isn’t moving its flagship channel or licensed shows such as “Mad Men” to the Web, the person said.

Major media companies are developing more programming for growing Internet audiences. Walt Disney Co. bought the online video company Maker Studios earlier this year, while DreamWorks Animation SKG Inc. on June 16 unveiled a new YouTube channel that will be overseen by the founder of AwesomenessTV, the online teen video company it acquired in 2013.

AMC, based in New York, already operates two on-demand channels: YEAH! and Sundance. The tech blog The Information reported on the latest plans earlier today.

Shares of AMC, which also owns IFC and WE tv, fell 0.9 percent to $60.77 at the close in New York and have declined 11 percent this year.

© Copyright 2014 Bloomberg News. All rights reserved.

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