From a lauded past to a niche (and vampiric?) future.
“It’s a love triangle that turns treacherous and deadly and is really wonderfully written,” McDermott says of the latter. “That’s never going to be a universe, but I don’t want to live in a world where we can’t tell that story.”
With the media drive toward consolidation, there has been ongoing speculation in Hollywood about which streamer might scoop up AMC. “With the volume they have, I think it's going to be so tough for them to survive in this environment,” says one agent. “I’ve got to imagine someone’s going to gobble them up sooner rather than later….
Earlier this month, on its second-quarter earnings call, AMC Networks reported that it had a better-than-expected streaming subscriber increase, up to 10.8 million from 9.5 million.a senior research analyst at MoffettNathanson, says he sees “a unique path ahead” for AMC Networks. “They’re not competing with the larger media companies that have been competing for scale. AMC are playing a different tune and looking to succeed in a different way.
While other streamers chase the bigger-is-better and something-for-everyone model, AMC+’s niche strategy is the TV equivalent of a high-end boutique, according to McDermott. “We focus on one lane only, which is premium marquee content for adults,” he says. That means no YA, comedy, news, sports, or kids stuff. “We don’t want to be something to everybody. We want to beto somebody.
Does he feel pressure, with the weight of Anne Rice’s legacy and the survival of AMC resting on his shoulders? “The pressure!” McDermott shouts. “I’m going to give you a big yes…. And if we get this right, it will signal a renaissance and resurgence of AMC as a premium brand that people must pay attention to and should subscribe to and want to be a part of, because if you want to be in the cultural conversation, you’ve got to be watching AMC shows. That’s the objective.
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