By Cynthia Littleton Business Editor AMC Networks found a silver lining in the otherwise dismal end to the first quarter as pandemic shutdowns took a heavy toll.
In releasing its first quarter earnings Tuesday, AMC Networks said subscriptions and viewership for its growing suite of niche streaming outlets — Sundance Now, Acorn, Shudder and Urban Movie Channel — have increased significantly amid the lockdown conditions.
The gains have been substantial enough that AMC Networks said it would reach the 3.5 million-4 million subscriber threshold by year’s end rather than by 2022 as previously forecast. “They are growing a nice trajectory with sensible economics,” said AMC Networks president-CEO Josh Sapan.
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