This week in entertainment, the industry delivered big announcements, exciting premieres, and impressive growth milestones. From major streaming partnerships to production updates, here’s a round-up of the top stories shaping the world of television and film.
AMC Networks Boosts Revenue with Netflix Deal
A new partnership with Netflix has helped AMC Networks exceed financial expectations for Q3 2024. The deal, which brought prior seasons of 13 AMC series to the streaming giant, contributed to a 31% increase in content licensing revenue, totaling $81 million. Despite a 6% dip in overall revenue to $600 million, AMC+ subscriptions grew to 11.8 million. Additionally, AMC finalized its $42 million acquisition of the remaining 50.1% stake in BBC America, solidifying its control over the channel.
Paramount+ Hits New Subscriber Milestone
Paramount+ continues to gain momentum, adding 3.5 million subscribers in Q3 2024, pushing its total to 72 million. This growth helped direct-to-consumer revenue climb by 10% to $1.86 billion. Paramount Global also saw adjusted earnings swing from a $238 million loss in Q3 2023 to a $49 million profit this quarter. Despite a 6% decline in television segment revenue, Co-CEO Chris McCarthy emphasized the company’s strong position, hinting at future strategic partnerships.
HBO Confirms “Euphoria” Production Schedule
Amid speculation about delays, HBO reaffirmed its commitment to “Euphoria” season three, which is set to begin production in 2025. The clarification came after reports of Zendaya’s involvement in Christopher Nolan’s next film sparked rumors about the show’s future. HBO assured fans that nothing has changed, keeping anticipation high for the series’ return.
TCM Enhances Broadcast Experience
Turner Classic Movies (TCM) announced ongoing operational upgrades to improve its broadcast quality. In a statement, host Ben Mankiewicz asked for viewers’ patience, noting that some temporary service disruptions may occur as TCM enhances its platform for a more reliable and seamless viewing experience.
Key Takeaways:
- AMC Networks’ partnership with Netflix boosted licensing revenue by 31% and increased AMC+ subscribers to 11.8 million.
- Paramount+ added 3.5 million subscribers, with direct-to-consumer revenue hitting $1.86 billion, marking a return to profitability.
- HBO confirmed “Euphoria” season three will begin production in 2025, dispelling rumors of delays.
- TCM is undergoing broadcast upgrades, promising a smoother viewing experience despite possible short-term interruptions.
This week’s news highlights the entertainment industry’s adaptability and forward-thinking strategies as streaming platforms and networks continue to innovate and expand their reach. Stay tuned for more updates as the world of TV and film evolves.
Report Mark Winkler
