Tag Archives: Cablevision

AMC Networks

Posted on by 
by Griffin Morrow
AMC Networks and their cable family.

AMC Networks and their cable family. [31]

Profile

AMC Networks Inc., operating under the title of Rainbow Media Holdings for decades, is a former subsidiary of Cablevison that was spun off in the Summer of 2011 as a publicly traded company [1]. The New York based organization owns and operates cable channels AMC, IFC, WE tv, and SundanceTV and recently acquired a stake in BBC America [2]. AMC, the obvious bell-cow of the cable bundle, has birthed dramas such as Mad Men and Breaking Bad that helped catalyze the so called “golden age” in cable television from 2007 onwards. This stretch of critical acclaim has scored AMC 207 Emmy nominations along with 33 wins [3], including five of the last six Emmys for Outstanding Drama Series [4].

Key Executives

Joshua Sapan - President and Chief Executive Officer

Joshua Sapan – President and Chief Executive Officer (photos curtesy of AMC Networks [37])

Charles F. Dolan - Executive Chairman

Charles F. Dolan – Executive Chairman

Edward A. Carroll - Chief Operating Officer

Edward A. Carroll – Chief Operating Officer

Sean S. Sullivan - Executive Vice President and Chief Financial Officer

Sean S. Sullivan – Executive Vice President and Chief Financial Officer

Programming Reach

Ranking as the 14th most watched network among the coveted 18-49 demo [5], AMC reaches 97 million American households. AMC Networks, however, finds itself in a unfortunate predicament. Other cable entities WE tv, IFC, and Sundance have failed to match the margins AMC has managed. Among the 18-49 demographic, WE tv ranks 39th, IFC stumbles into 58th, and Sundance checks in at a disappointing 88th [6].

Economics

Three year economic landscape since going public.

Three year economic landscape since going public [33].

To the blind eye, AMC Networks would seemingly be reveling in their cult-like headlining dramas they’ve found in Madison Avenue and meth making high school chemistry teachers. Since going public on June 21st of 2011 AMC Networks shares are up nearly $29 in price, an increase of almost 82% over three years [7]. Affiliate fees augmented from a 2007 margin of 22 cents per customer per month to 33 cents in 2013 [8]. The recent 3Q report stated a stout 31% increase in net revenue from levels a year ago to $514.2 million [9]. So what’s not to like for AMC Networks? Ad revenues have slipped by 6% in this recent quarter with a 19% drop in audiences [10]. Operating income this quarter was $12 million short of last years. Shares hit a 52-week low on October 13th when prices fell to $52.75. Moreover, AMCX stock has tumbled by approximately 18% in the last year.

Life After Mad and Bad

Dramatic successes that once stoked the AMC flame have begun to fade. Viewers said goodbye to Breaking Bad last fall and will prepare to jettison Mad Men after it’s end next spring. Questions as to how the organization will survive such gigantic losses in programming have dominated industry conversations for some time. One common theme reigns supreme: if AMC plans on continuing on, they need something to replace their prior hits. And fast. The majority of the industry, AMC Networks investors in particular, are wondering if this is possible.

Zombies Devouring American Audiences 

Iconic Walking Dead season 1 poster art where protagonist Rick Grimes investigates a desolate Atlanta.

Protagonist Rick Grimes investigates a desolate Atlanta in the iconic season 1 poster. [32]

The most life in AMC Networks ironically resides within the cold clammy hands of the undead. A television adaption of Robert Kirkman’s zombie apocalypse graphic novel “The Walking Dead” has has wowed audiences suspenseful storytelling and heaps of zombie carnage. The Walking Dead premiered on Halloween night in 2010 with 5.35 million viewers, an AMC first [11]. The show has produced end over end increase since. The Walking Dead ended it’s 4th season with an average of 13.3 million viewers [12], a growth margin that prompted AMC to renew the show for a sixth season before the fifth season even aired [13].

A "Walker" enjoying a mid-afternoon snack.

A “Walker” enjoying a mid-afternoon snack. [34]

The infectious love for zombies has proved so strong that the first episode of season five shattered television viewing history. An audience of 17.3 million viewers for the season five premiere crowded The Walking Dead as the highest rated show in cable television history [14]. The October 12th premiere, with help from the 7% increase in viewership, managed to out muscle typical ratings power house Sunday Night Football [15]. Playing off of a dedicated following from the graphic novel has allowed the show to become the most popular program among the 18-49 demographic for two consecutive years [16].

Lightning Doesn’t Strike Twice…

All in all, AMC networks has whiffed when it comes to finding their next trademark show. Recently premiering series that AMC networks hoped would share the same prestigious stage as their predecessors have fallen significantly short. Rubicon, a conspiracy thriller set against the New York skyline, proved anything but thrilling for viewers and was cancelled three months after debuting due to subpar ratings [17].

The Walking Dead stifles the average viewership of the other AMC programming.

The Walking Dead stifles the average viewership of the other AMC programming. [35]

The Detroit based crime drama Low Winter Sun adapted from a two-part British mini-series of the same name lasted only ten episodes [18]. Even the more constant series such as Hell on Wheels, Halt and Catch Fire, and TURN have underperformed expectations.

there is importantnt text here that you can’t see

…or Does It?

While millions may have mourned the passing of anti-hero Walter White reign on television, they will not have to wait long to satisfy their Breaking Bad junkie addictions. Former show runner Vince Gilligan and AMC have partnered to produce a prequel to the former Emmy winning series [19]. Better Call Saul, airing this upcoming February, will star Bob Odenkirk and be set six years prior to the events of Breaking Bad. AMC has already renewed the spin off for a 13 episode second season despite a delayed production process [20]. AMC also green lit preliminary production on a companion series for current hit The Walking Dead earlier this year [21]. The show will be standalone from the current series, displaying a new set of characters in an entirely different region of the post-apocolyptic zombie world. Both spin offs are obvious attempts by AMC Networks to brandish new programming through past and present successes.

DirecTV and AMC Clash on Contract

AMC Networks warning message to DirecTV viewers about potential stoppages in content.

AMC Networks warning message earlier this month on website to DirecTV viewers about potential stoppages in content. [36]

DirecTV viewers may been in danger of losing AMC Networks‘ programming after this holiday season. AMC Networks went public with a contract dispute with the satellite provider during a November 2 episode of The Walking Dead [22]. They warned viewers that they were at risk of missing future content stating that DirecTV had not “engaged in meaning negotiations”. AMC Networks has gained a reputation of quarreling with service providers by often publicizing carrier contract disputes and using their viewer as meaningful leverage. Disputes have included Verizon FiOS [23], Suddenlink Communications [24], Rogers Communications [25], and AT&T U-Verse [26] over the past two years. The worst of the carrier disputes came when DISH dropped AMC Networks from their service for nearly four months [27]. The conflict, like the others, stemmed from AMC Networks aggressive price evaluation set in an attempt to profit from newfound success in dramatic programming.

International Distribution Taking Center Stage

AMC Networks rolled out programming in various international markets starting in November, an organizational first for a company that once prided itself on broadcasting classic American movies. AMC International started distribution in Europe with broadcasts in Spain on November 5th [28]. Broadcasts of the new international distribution arm furthered in Latin America a week later [29]. The company plans to continue it’s stretch across the globe with further rollouts. These recent investments into foreign markets can be linked to AMC Netoworks‘ $1.04 billion purchase of Liberty Global’s content division Chellomedia last year [30]. The array of TV networks will be distributed across an estimated 138 countries worldwide with access to more than 390 million foreign households.

Source:

[1] AMC Networks Becomes a Public and Separate Company AMC Networks RT: 11/24/14

[2] AMC close to $200 deal for stake in BBC America New York Times RT: 11/24/14

[3] Budget Squeezing, Producer “Bake-Offs” and Post-‘Breaking Bad’ Challenges The Hollywood Reporter RT: 11/24/14

[4] Emmy Nominee/Winner Database Television Academy RT: 11/24/14

[5] ‘The Walking Dead’ Is A Huge Hit. So Why Is AMC’s Stock Trading So Low? Forbes RT: 11/24/14

[6] ‘Dead’ Breathes Life into AMC Networks Adweek RT: 11/24/14

[7] Financials: AMC Networks Inc (AMCX.OQ) Reuters RT: 12/1/14

[8] AMC is Thriving by Breaking the Rules of Legacy TV The Atlantic RT: 11/24/14

[9] AMC Networks tops 3Q net income and revenue expectations Associated Press RT: 11/24/14

[10] Media Companies miss ad dollars after signing streaming deals NYPost RT: 11/24/14

[11] ‘The Walking Dead’ Snags AMC Highest Premiere Ratings of 2010 Time RT: 11/24/14

[12] The Walking Dead Season 4 Finale Breaks Finale Record With 15.7 Million Viewers AMC blog RT: 11/24/14

[13] ‘The Walking Dead’ Renewed for Season 6 Variety RT: 11/24/14

[14] Walking Dead breaking US cable TV record BBC News RT: 11/24/14

[15] ‘The Walking Dead’ Season 5 Premiere Hits Series High Ratings, Delivering 11 Million Adults 18.49 & 17.3 Million Viewers TVbytheNumbers RT: 11/24/14

[16] ‘Walking Dead’ Renewed For Season 6 By AMC Deadline Hollywood RT: 11/24/14

[17] ‘Rubicon’ is Cancelled by AMC Entertainment Weekly RT: 12/1/14

[18] ‘Low Winter Sun’ Cancelled by AMC Variety RT: 11/24/14

[19] ‘Better Call Saul,’ a prequel spinoff series from ‘Breaking Bad,’ greenlit by AMC NY Daily News RT: 11/24/14

[20] ‘Better Call Saul’ Renewed for Second Season, Delayed Until 2015 Rollingstone RT: 11/24/14

[21] ‘The Walking Dead’ companion series gets pilot greenlight Entertainment Weekly RT: 11/24/14

[22] AMC Uses ‘Walking Dead’ Fans as Weapon in DirecTV Talks Bloomberg RT: 11/24/14

[23] AMC Networks Warns Verizon FiOS Customers That Channels Could Go Dark Deadline Hollywood RT: 11/24/14

[24] AMC Networks, Suddenlink in License Fee Dispute Broadcasting and Cable RT: 11/24/14

[25] Rogers and AMC Networks End Carriage Dispute With Multi-Year Canadian Deal The Hollywood Reporter RT: 11/24/14

[26] AT&T Statement on AMC Networks Programming Agreement AT&T press release RT: 11/24/14

[27] Dish Network Says It Will Drop AMC Networks Due To Price, Not VOOM Deadline Hollywood RT: 11/24/14

[28] AMC TV channel launches in Spain telecompaper RT: 11/24/14

[29]  AMC Networks International Announces Major Expansion of Sundance Channel Global in Latin America With First-Ever Launches in Six Territories AMC International press release RT: 11/24/14

[30] AMC to Buy Liberty Global’s Chellomedia for $1.04 Billion Bloomberg RT: 11/24/14

[31] AMC Networks logo AMC Networks Website RT: 12/1/14

[32] Walking Dead season 1 poster IMDb image search RT: 12/1/14

[33] AMCX stock three year chart GoogleFinance RT: 12/1/14

[34] Zombie eating an arm Walking Dead fan page RT: 12/1/14

[35] AMC programming averages TV by the Numbers RT: 12/1/14

[36] AMC Networks warning page AMC Networks website RT: 12/1/14

[37] Executive Officers AMC Networks Websites RT: 12/1/14

Viacom

Posted on by 
by Nalae White
726px-Viacom_logo.svgViacom Inc.                                                                                                                 1515 Broadway
New York, NY 10036
United States
Phone: (212)-258-6000
http://www.viacom.com [1]

Key Executives:

Philippe Dauman, CEO

Sumner M. Redstone, Founder & Executive Chairman

Thomas E. Dooley, COO

Wade Davis, CFO

Company Overview:

Viacom Inc. is an American mass media company that mainly produces films and cable television shows. Viacom is the fifth largest broadcasting and cable company in the country. Their network reaches approximately 700 million subscribers internationally, throughout about 160 countries and territories. It is estimated that Viacom owns and operates roughly 170 networks, in addition to Paramount Studios, America’s oldest film studio and distributor. Viacom’s networks are largely content based, satisfying more niche markets. Viacom operates hundreds of online, mobile, and app experiences across a wide range of media platforms, including both traditional and new forms of media. [2]

Viacom Owned Networks

Viacom Owned Networks [i]

Viacom’s history as an independent company has been complicated. Viacom began as a spin-off network from what was then CBS, Inc., establishing itself as a public company in 1971. In 1987, National Amusements acquired the controlling shares of Viacom, owning 83% of the company. However, in 2000, Viacom formed a $39.8 billion merger with CBS Corporation, uniting the two companies once again. Then, in 2005, the companies parted ways again and Viacom rebranded itself as Viacom Inc. Along the way, Viacom had acquired and created over 100 channels through MTV Networks and otherwise. The company has experimented with joint ventures like EPIX, partnerships with music groups like Warner Music Group, feeding into more targeted markets with channels like mtvU, and of course new and innovative ideas for creating and distributing content. [3]

Current Ongoings:

Rendering of Columbia Square

Rendering of Columbia Square [4]

Viacom recently made the decision to relocate and consolidate several of its big name networks to one building in Columbia Square on Sunset Boulevard. MTV, Spike TV, Comedy Central, and BET will all operate out of the $420 million complex within 180,000 square feet of space. The move will put the networks closer to Paramount Studios, which operates a mile from the building. Viacom’s 12-year lease states that the company will capacitate nearly the entirety of a 6-story building within the complex. The lease is the largest to be signed in Hollywood in the last 10 years. Viacom is expected to poster sizable graphics that will be visible from far distances on the building. The purchase is instrumental in what is seen as a revamping of Hollywood, with the complex being the largest “media-tenant” since the construction of the Capitol Records Tower in the 1950s. [4]

Viacom’s network continues to expand, opening new channels to satisfy new markets. This year, Viacom renewed an existing distribution deal with Hulu, an online media streaming service. The contract allows Hulu to use Viacom’s existing repertoire of cable networks to substantiate Hulu’s own library. The renewal will also allow Hulu a wider range of material to choose from, including networks that were not previously available to the streaming service before, such as MTV, VH1, Comedy Central, and Nickelodeon. The deal will contribute largely to the “Hulu Kids” section of the website, reviving older series accompanied by a sense of nostalgia like “Ren & Stimpy” and “Hey Arnold!” which currently air on Viacom’s TeenNick channel. The deal also greatly amplifies the number of Viacom’s past reality shows that will be featured on Hulu. It is speculated that the deal is an attempt by Hulu to compete with Amazon Prime’s Instant Video Inventory. However, the deal barely rivals the existing subscription-streaming deal between Amazon and Viacom, which was the largest sum Amazon has paid for a streaming deal thus far.[5]

Channel 5 Logo

Channel 5 Logo [ii]

Viacom has, additionally, closed a  £450 million deal, acquiring UK’s Channel 5 Broadcasting Limited from Northern & Shell Media Group. Channel 5 and Viacom’s existing networks have begunexperimenting with joint programming, airing Nickelodeon originated shows on Channel 5, as well producing new content with children’s shows like “Nella the Knight” and a reality show called “10,000 B.C.”[6]

Recent Legal Incidents:

In 2007, Viacom filed a $1 billion lawsuit against YouTube, claiming that the website was perpetuating Copyright Infringement. The judge ruled in YouTube’s favor in 2010, and Viacom filed for an appeal. The suit litigated for a total of 6 years until in 2013, the judge ruled again that YouTube “did not have to police itself”, and that it was Viacom’s responsibility to find infringing videos and alert YouTube to their presence. In March of 2014, Viacom made the decision to cut their losses, reaching an undisclosed settlement in which no money was exchanged with Google, YouTube’s parent company. Since the settlement, the two companies have been in contact about “seizing opportunities”, with the allusion of possible collaborations and close interactions between them.[7][8]

Promotional still for VH1's TLC Biopic, CrazySexyCool

Promotional still for VH1’s TLC Biopic, CrazySexyCool [11]

In April of 2014, Viacom was sued by Perri “Pebbles” Reid, former manager of 90’s R&B group TLC, for claims of defamation. In 2013, the 2-hour biopic “CrazySexyCool”, following the lives and fame of the popular R&B group, premiered on VH1, a channel owned by Viacom Inc. The biopic was reported to have given VH1 its highest ratings in 5 years. The lawsuit calls for $40 million in compensatory and punitive damages, as well as a request to ban the movie or associated promotional materials from being publicized. Reid believes that the movie disparaged her reputation both as an entertainer and businesswoman, and that “Viacom abandoned journalistic and literary integrity and ignored fundamental canons of journalistic and literary conduct by publishing false and defamatory accusations with actual malice.” The former manager claims that she was presented as “conniving and dishonest”, as it demonstrated that she deceived her clients and robbed them of their royalty money. Reid claims that she had no control over the group’s lawyer’s or accountants. Viacom has refused to comment. [9][10][11]

In February of 2013, Cablevision filed an antitrust lawsuit against Viacom, alleging illegal channel tying during program negotiations; Cablevision claims that Viacom threatened a “10 figure penalty” if Cablevision did not agree to carry smaller suites in addition to must-have cable programming. Viacom counters that the “10 figure penalty” in question is the difference between standard rates and a negotiation between Viacom and Cablevision as the result of “good-faith negotiations” since the two have worked together in the past. The lawsuit was filed three months after a carriage deal between Cablevision and Viacom. Viacom moved to have the case dismissed, however the judge ruled that there was viable evidence on Cablevision’s behalf to review an antitrust claim. There is no trial date set.[12]

Financial Information

Fiscal 2014 Report:

Revenues: $13.78B

Adjusted Operating Income:  $4.13B

Adjusted Net Earnings: $2.38B

Adjusted Diluted EPS: $5.4M

Viacom’s fiscal year came to a close on September 30th, 2014.  The company demonstrated an impressive fiscal year. While Viacom’s total revenue showed a negligible change in comparison to the previous year, other factors were notable. Both the company’s Adjusted Operating Income and Adjusted Diluted Earnings Per Share reached all time highs, rising 5% and 15% respectively. The company’s Adjusted Net Earnings also increased by 3.8% from the previous year.[13]

Sources:

1 Yahoo! Finance: Viacom Financial Profile Date Acquired: December 1st, 2014

2 Viacom Website: About Viacom Date Acquired: December 1st, 2014

3 Viacom Timeline: History of Viacom Date Acquired: December 1st, 2014

4 LA Times: Viacom Signs 12-Year Lease at Columbia Square in Hollywood Date Acquired: December 1st, 2014

5 LA Times: Hulu Extends Streaming Deal With Viacom, Expands Library Date Acquired: December 1st, 2014

6 Viacom News: Viacom Closes Acquisition of Channel 5 Date Acquired: December 1st, 2014

7 Bloomberg BusinessWeek Technology: Viacom Gives Up On Its YouTube Copyright Lawsuit Date Acquired: December 1st, 2014

8 Bloomberg BusinessWeek: Viacom and Google Settle YouTube Lawsuit Date Acquired: December 1st, 2014

9 Bloomberg BusinessWeek: Former TLC manager sues Viacom For Defamation Date Acquired: December 1st, 2014

10 The Root: Pebbles Files $40,000,000 Lawsuit Against Viacom Over TLC Biopic Date Acquired: December 1st, 2014

11 Eurweb: TLC Biopic Gives VH1 Its Highest Ratings in 5 Years Date Acquired: December 1st, 2014

12 The Hollywood Reporter: Viacom Can’t Escape Cablevision’s Antitrust Lawsuit Date Acquired: December 1st, 2014

13 4th Quarter ’14 Earnings Press Release: Viacom Reports Record Profit For Fiscal 2014 Date Acquired: December 1st, 2014

Photo Sources:

i Stop the Cap: Viacom Demands 100% Rate Increases Date Acquired: December 1st, 2014

ii Deadline.com: Channel 5 Sale Speculations Date Acquired: December 1st, 2014

Cablevision

Link

by Steven Spohr

Summary

Cablevision_Logo

Source – Cablevision.com

Founded in 1973, Cablevision Systems Corporation is a leading telecommunications company that primarily offers television, phone, and Internet services to millions in the NY metropolitan area. Initially serving a mere 1,500 customers on Long Island, Cablevision has since expanded to offer WiFi, a leading local newspaper, and business communications solutions to its over 3 million subscribers. Former properties include Madison Square Garden and Rainbow Media Holdings. [1]

optimum_yellowdot_2__120906171458

Source – Optimum.com

Cablevision’s television, phone, Internet, WiFi, and business solutions all operate under the ‘Optimum’ brand name. These include (but are not limited to) –

  • Optimum TV – exclusive home of News 12 Networks, a series of local news channels
  • Optimum Voice
  • Optimum Online
  • Optimum WiFi
  • Optimum Lightpath – a “leading provider of integrated business communications solutions that meets the needs of larger companies” [1]
225px-Newsday

Source – www.newsday.com/

Cablevision also owns Newsday Media Group, which runs two local papers. Newsday is a Pulitzer Prize-winning daily newspaper that has been in circulation since 1940. Over 70% of Long Island adults read Newsday, and its articles and reporting have won numerous awards and made it the top paper on Long Island. To provide the most local news possible, Newsday works closely with MSG Varsity (part of the News 12 Networks) to provide detailed coverage of local high school and college sports. amNewYork offers a quick read of city news and events. In addition to the papers, NMG owns Star Community Publishing, which producers weekly shopper publications in Long Island and Queens. It is the largest publisher of its kind in the Northeastern United States. [2]

Leadership

The Dolan family founded Cablevision and continues to lead the company today. Key personnel include [3] –

charlesdolan

Charles Dolan – Founder and Chairman / Source – Sean Smith, The Boston College Chronicle

jamesdolan

James Dolan – Chief Executive Officer / Source – Al Iannazzone, Newsday.com

kristin-dolan

Kristin Dolan – Chief Operating Officer / Source – Variety.com

brian_g_sweeney

Brian Sweeney – President / Source – POST Online Media

Gregg-Seibert-

Gregg Seibert – Vice Chairman and Chief Financial Officer / Source – Business Wire

 

hratner-282x307

Hank Ratner – Vice Chairman / Source – The Madison Square Garden Company

 

Financials

CVC Stock 2014

A detailed map of Cablevision’s stock pricing in 2014. / Source – Yahoo! Finance

2014 has seen Cablevision’s stock (CVC) prices gradually increase throughout the year. Starting the year at $17.22/share, CVC stock stands at $20.32/share as of November 29th. February 3rd saw the year’s low of $15.85. Prices peaked in late July, mid-September, and late November. [4]

The following financial information is from Cablevision’s Third Quarter 2014 Results.

  • Net revenue increased 3.7% to $1.62 billion.
  • Cable advertising revenue grew 6.8%
  • Average Monthly Cable Revenue per Customer increased 5.7% to $154.50/customer/month. [5]

These figures represent a continued loss of subscribers for Cablevision across the board. Between satellite TV providers, rival phone companies, and the public’s shift to watching TV online, Cablevision’s audience is becoming fragmented. The company chose to increase its subscription rates in response to decreasing numbers, which is represented by the net revenue and AMCR/C increases. [6]

Recent News

The latter half of 2014 has been a busy one, with notable hirings, financial news, legal troubles, and more.

August 4th

August 4th saw Cablevision’s announcement that it has hired David Dibble as Chief Technology Officer, a newly-created role. Dibble is formerly of Yahoo!, and his hiring is part of Cablevision’s efforts to “become the premier connectivity provider in the market, delivering a peerless customer experience”. [7]

November 7th

A New York Times article revealed a major legal proceeding against Cablevision. The National Labor Relations Board has charged Cablevision CEO James Dolan with “illegally threatening to deny company technicians in Brooklyn a pay increase unless they voted to quit their union”. The NLRB also charged Cablevision itself with “illegally [undermining] the union’s representation of those workers by sponsoring a nonbinding poll to determine whether they wanted to leave their union”, while some workers reported they were being ‘spied on’ during the vote. Federal law states that such a vote can only be conducted by the labor board, not the company. CEO Dolan fired back, calling the NLRB “a tool of Big Labor” and questioning the validity of its findings. The case is ongoing, and Cablevision has stated it will appeal to federal courts, if necessary. [8]

dolanmand

CEO Dolan has plenty of reasons to be frustrated, especially with his ongoing legal troubles with the National Labor Relations Board. / Source – ESPN.com

November 11th

Cablevision teamed up with Time Warner Cable to release the first ever “New York Television Audience Insights Report”. The report sampled the 3.5 million subcribers of Cablevision and TWC in the New York area, which is half of the TV homes in the region. Its aim was to help advertising and marketing departments and companies get better value out of their advertising purchases. Some key findings include –

  • 74% of all TV programming watched was outside of traditional TV ‘prime time’ (8-11PM).
  • On average, a subscriber will only watch 25 channels in a month.
  • a whopping 90% of all viewing comes from a mere 100 channels. [9]

These new insights will help create better statistics for TV viewership and aid advertisers in spending money more efficiently.

November 18th

New York City Mayor Bill de Blasio announced that the city is planning an extensive new WiFi network across the five boroughs. The project, dubbed LinkNYC, would provide not only free WiFi, but also no-cost domestic calling and video chat. The 10,000 hotspot system would replace the city’s decaying network of archaic payphones and operate completely with money generated through advertising. Projected to cost around $200 million, LinkNYC would bring in over $500 million over the next twelve years, according to city officials.

This announcement led some to think Cablevision’s Optimum WiFi network would be threatened by this new, massive competition. Cablevision officials have not only dismissed these musings, but have actively worked with New York City on a number of initiatives, possibly including LinkNYC itself. [10]

Mayor-Elect De Blasio Makes Announcement

Mayor de Blasio’s ambitious project looks to dramatically improve WiFi services within the five boroughs. / Source – PIX 11

November 22nd

The Lewisboro Ledger revealed that Cablevision has a new deal with the town of Lewisboro (Westchester County). The deal, which primarily concerns franchising fees, has a number of key improvements –

  • Over $270,000 in new franchising fees are expected in 2015.
  • Free cable would be provided to 16 municipal and school buildings, including the public library.
  • New offers would include a senior discount for those aged sixty-five and older.
  • Town Board meetings would become available for live-streaming.
  • The town’s parks and baseball fields will become WiFi-equipped. [11]

November 25th

Kids video-on-demand network Kabillion announced a carriage deal with Cablevision. Kabillion, which is the only independently-owned VOD network ranked in the Top 10 Kids Free On Demand list, will now reach over 50 million homes nationwide. The deal is beneficiary to Cablevision too, as Kabillion reports views exceeding 65 million in 2014. [12]

Bibliography

  1. http://www.cablevision.com/about/index.jsp

  2. http://www.cablevision.com/local/newsday.jsp

  3. http://www.cablevision.com/about/leadership.jsp

  4. http://finance.yahoo.com/echarts?s=CVC+Interactive#%7B%22range%22%3A%221y%22%2C%22scale%22%3A%22linear%22%7D

  5. http://www.cablevision.com/pdf/news/110614.pdf

  6. http://online.wsj.com/articles/cablevision-subscriber-losses-offset-by-price-increases-ad-sales-1415284257

  7. http://www.cablevision.com/pdf/news/080414.pdf

  8. http://www.nytimes.com/2014/11/08/nyregion/labor-board-says-cablevision-chief-tied-raises-to-vote-against-a-union.html?_r=0

  9. http://www.fiercecable.com/story/twc-and-cablevision-team-quarterly-nyc-dma-reports/2014-11-11

  10. http://www.fiercecable.com/story/competition-cablevision-nyc-launches-ambitious-public-wi-fi-project/2014-11-18

  11. http://www.lewisboroledger.com/15707/cablevision-renewal-to-benefit-town/

  12. http://www.cedmagazine.com/news/2014/11/kids%E2%80%99-vod-network-kabillion-lands-deal-with-cablevision

AMC Networks

Posted on by 
By Tyler Cunningham
AMCN_rebrand_thumb
courtesy of [1] hitstate.com

 

AMC Network Entertainment LLC

11 Penn Plaza – New York, NY 10001 – (646)-273-7105

 

HISTORY + ABOUT:

Upon its launch in 1980, AMC Networks was originally known as Rainbow Media Holdings LLC, a subsidiary of Cablevision.  After 25 years of successful programming and mergers, Cablevision executives took Rainbow Media public on July 1st, 2011 under its new name, AMC Network Entertainment. [2]

Rainbow_Media_Holdings_logo

courtesy of [3] imgl.wikia.nocookie.net

Now in its third year as a publicly traded company, AMC Networks owns and operates some of today’s most popular cable channels including AMC, Sundance TV, WE tv and IFC.  Additionally, the company owns the independent film distributor, IFC Films, as well as the IFC Center cinema in Greenwich Village. [4]  AMC Networks has a commitment to producing only the most distinctive and compelling content that engages many different audiences.

 

KEY EXECUTIVES:

charles_dolan

[5]

Charles F. Dolan – Executive Chairman

joshua_sapan

[5]

Joshua W. Sapan – President & CEO

leader_carroll

[5]

Edward A. Carroll – COO

leader_sullivan

[5]

Sean E. Sullivan – Executive VP & CFO

 

FINANCIALS AS OF SPRING 2014:

AMC Networks has not yet reported its First Quarter earnings for 2014, however it recently reported its Fourth Quarter & Full-Year Earnings for 2013.

The Fourth Quarter saw a net revenue increase of 18.7% to $435 million, up from $395 million in the company’s Third Quarter report. [6] And what’s more is that 2013 saw an annual net revenue increase of 17.7% to $1.592 billion, up from $1.353 billion in 2012.These increases, according to CEO Joshua Sapan, can be entirely attributed to the company’s “ability to produce content that is valuable and monetizeable.” [7]

Screen Shot 2014-04-18 at 6.15.05 PM

courtesy of [8] nasdaq.com

The company is publicly traded as AMCX on NASDAQ and has seen an especially successful Spring 2014.  As seen in this graph that documents AMCX’s share price since going public in 2011, the price has been at an all-time high since the beginning of 2014, hitting $78.39 per share on March 7th.  This is up from $59.18 on the same day in 2013.

 

RECENT HAPPENINGS:

AMC’s The Walking Dead Continues its Ratings Reign – 

The-Walking-Dead-Season-4-Poster

courtesy of [9] beyondhollywood.com

Even in the face of the XXII Winter Olympics, The Walking Dead‘s mid-season premiere on February 9th still garnered 16 million viewers and maintained its position as the highest-rated program on all of television in the key 18-49 demographic. [10]  The zombie apocalypse drama’s popularity is commonly attributed to its incredibly tense storytelling and excellent character development.  The Walking Dead will return for its fifth season this October.

 

 

Chellomedia is Offically Acquried for $1 Billion –

chellomedia_new


courtesy of [11] chellomediapaytv.com

After a lengthy courting process, AMC Networks purchased the London-based Chellomedia for $1 billion this spring.  Chellomedia is a European television content distributor that owns and operates a massive collection of channels that reach an estimated 390 million homes across Europe.  AMC Networks reportedly made the acquisition to broaden their European audience. [12]  With net earnings of $465 million in 2013, Chellomedia is expected to now make up 20% of AMC Networks’ earnings. [13]

Final Season of Mad Men Opens to Lackluster Ratings –

courtesy of [16] static.squarespace.com

courtesy of [16]

There’s no denying that Mad Men is one of the most critically-acclaimed shows in recent history, but when it comes to ratings, AMC wins some and they lose some.  The seventh and final season of Mad Men premiered on April 13th to just 2.3 million viewers – their lowest premiere rating since the show’s second season in 2008. [14]  Media analysts suspect that recycled, overused plot lines in season six (Don was predictably unfaithful, etc.) are to blame for the loss of public interest. [15]

 

New Drama, Turn, Premieres to Lukewarm Reviews –

turn-poster-fullAMC was hoping to add to its collection of hit dramas with the new Revolutionary War espionage thriller, Turn.  However, it is looking unlikely that they will be able to do so.  The series premiere on April 6th opened to a modest 2.1 million viewers (only .5 of them in the 18-49 demographic) and a bag of mixed reviews. [17] While some publications celebrated its arresting cinematography and stellar performances [18], most have labeled the show as “hollow,” with very little suspense or excitement to be found in its storytelling. [19] Turn – Trailer (YouTube)

 

UPCOMING PROJECTS:

Tech Drama, Halt and Catch Fire, to Premiere June 1st – 

With Breaking Bad put to rest and Mad Men not far behind, “the question of ‘what’s next’ looms large for AMC.” [20] And many who attended the SXSW sneak peak of Halt and Catch Fire argue that the new series has what it takes to be the network’s next big smash. [21] The 1980s period drama tells the story of three techies with dreams of creating a more perfect personal computer that has the potential of replacing the most popular IBM model.  The show’s riveting storytelling explores the multiple motives, burned bridges and egos involved in the fight to weaken IBM as the dominant player in the marketplace.  The aptly titled series is slated for a June 1st premiere. Halt and Catch Fire – Trailer (YouTube)

Screen Shot 2014-04-21 at 1.38.32 PM

courtesy of [25] amctv.com

Breaking Bad spinoff, Better Call Saul, to Premiere in November –

Diehard Breaking Bad fans were given reason to live again after a spinoff series, Better Call Saul, was announced following the show’s wrap.  The show will center around Bob Odenkirk’s character, Saul Goodman, Albuquerque’s favorite crooked lawyer, and is named after the character’s hopelessly corny business slogan.  The show will not be “Breaking Bad 2.0,” but rather a dive into the smattering of trouble and hilarity that ensues as a result of Saul’s shady business practices. [22] Better Call Saul – Webisode (YouTube)

better-call-saul1

courtesy of [26] leviathyn.com

Dark Comic Series, Preacher, to be Adapted for Television – 

After many failed starts with other production companies, the 1990s comic book series, Preacher, will receive its first major television treatment from AMC.  Preacher tells the story of Jesse Custer, a Texas preacher who becomes possessed by a supernatural entity that is half-angel, half-demon, making Custer the most powerful creature on Earth.  Through his possession, he discovers that God has abandoned his responsibilities in Heaven and is now roaming freely on Earth.  A preacher to his core, Custer sets out on a journey to track down God and send him back to his post.  However, there are many demonic forces that will stop at nothing to keep this preacher from reaching God.  The Seth Rogan-produced religious thriller is hoped to bring success similar to that of The Walking Dead. [23]  A release date has not yet been set.

preacher-comic

courtesy of [24] empireonline.com

SOURCES:

[1] – HitState, RT: 4/16/2014

[2] – Deadline, RT: 4/16/2014

[3] – imgl.wikia.nocookie, RT: 4/16/2014

[4] – AMC Networks, RT: 4/16/2014

[5] – AMC Networks – Investors, RT: 4/17/2014

[6] – AMC Networks – Investors, RT: 4/17/2014

[7] – Seeking Alpha, RT: 4/17/2014

[8] – NASDAQ, RT: 4/17/2014

[9] – Beyond Hollywood, RT: 4/17/2014

[10] – Seeking Alpha, RT: 4/18/2014

[11] – Chellomedia, RT: 4/18/2014

[12] – The Hollywood Reporter, RT: 4/18/2014

[13] – Seeking Alpha, RT: 4/18/2014

[14] – E! Online, RT: 4/18/2014

[15] – Indiewire, RT: 4/18/2014

[16] – SquareSpace, RT: 4/18/2014

[17] – Vulture, RT: 4/18/2014

[18] – The Daily Beast, RT: 4/19/2014

[19] – Variety, RT: 4/19/2014

[20] – Forbes, RT: 4/19/2014

[21] – Indiewire, RT: 4/19/2014

[22] – Screenrant, RT: 4/19/2014

[23] – The Hollywood Reporter, RT: 4/19/2014

[24] – Empire, RT: 4/19/2014

[25] – AMC TV, RT: 4/19/2014

[26] – Leviathyn, RT: 4/19/2014

AMC Networks

Posted on by 
By Val Champeau

 

-courtesy of AMCtv.com

-courtesy of AMCtv.com

AMC Network Entertainment LLC. 

11 Penn Plaza, 15th Floor
New York, NY 10001
646-273-7105

http://www.amcnetworks.com/

History

AMC Networks was originally known as, Rainbow Media Holdings, LLC.   Rainbow,  formed in 1980, started as a small network originally only including Bravo and SportsChannel New York.  The Cablevision owned media conglomerate would, less than a decade later, go on to merge with NBC in 1988.  This merger gave NBC 50% ownership of Rainbow Media in the original deal.  After decades of trades, gains, and mergers, Cablevision considered taking Rainbow Media public, but did not actually go through with the deal until 2011. [1]

Rainbow-Media-11-18

-courtesy of lyngsat-logo.com

On March 10th, 2011, Cablevision took Rainbow Media broke it off into a publicly traded company, AMC Networks today. Congruently, with AMC going public, Cablevision kept their cable business still as a private entity. [2]

Since going public, AMC has hit the ground running.  Most recently, 2013, AMC Networks acquired the international content division of Liberty Global, Chellomedia, for a reported 750 million Euros, or $1.04 billion.  This deal now gives AMC Networks access to approximately 138 countries. [3]

Financials

Most recently, in the 3rd quarter of 2013:

  • Net revenue increased by 19.1% to $395 million
  • Operating income increased 40.9% to $122 million
  • Adjusted Operating Cash Flow (AOCF) increased 25.4% to $137 million

“Our solid financial results in the third quarter were driven by a return on our investment in original programming…Our shows are performing well on IFC, Sundance Channel and WE tv. At AMC, our acclaimed series Breaking Bad came to a close with record viewership and the Emmy Award for Oustanding Drama Series, and The Walking Dead kicked off its fourth season with record ratings that extended its reign as the #1 show on television among adults 18-49. With our Chellomedia acquisition, we believe we will over time further capitalize on demand for our content by growing internationally, a key strategy to ensuring our long-term success.”

–Josh Sapan, AMC Networks President and CEO [4]

Screen Shot 2013-11-20 at 1.09.57 AM Looking at AMC Networks‘ one year stock evaluation it seems that the company, although currently in the red, has stayed relatively stable since going public. [5]

 

Key Executives 

Josh Sapan

President and CEO AMC Networks INC

Josh Span

-courtesy amcnetworks.com

Josh Sapan has been the President and CEO of AMC Networks Inc since March 9, 2011.  He was brought over from his previous position as CEO of Rainbow Media Holdings (Now AMC Networks), where he was employed since, 1995. Sapan currently serves on the boards of The Cable Center, CTAM, The New School and many others. [6]

Ed Carrol

Chief Operating Officer AMC Networks Inc.

-courtesy amcnetworks.com

-courtesy amcnetworks.com

Ed Carrol oversees all operations for each brand associated with AMC Networks – AMC, WE tv, IFC, and Sundance Channel.  He is also responsible for ad sales in the company’s international divisions (AMC/Sundance Channel Global).  He has been with the company for 24 years. [7]

Sean S. Sullivan

Executive Vice President and Chief Financial Officer AMC Networks Inc.

sean sullivan

-courtesy amcnetworks.com

Sean S. Sullivan is responsible for all of AMC Networks‘ financial needs.  This includes, accounting, tax, financial planning, treasury, and investor relations. Along with financials, Sullivan, oversees the information technology and creative service departments, Broadcasting & Technology, programming origination and distribution division.  He joined AMC Networks in September 2010 from HIT Entertainment. [8]

Recent News

Breaking Bad – “Felina”: The Final Episode Hype

breaking bad

-courtesy of businessinsider.com

Breaking Bad is considered one of the most compelling,  addictive, and suspenseful dramas that has ever hit cable. Driven by plot and fueled by characters, AMC took viewers on a journey of a man’s total distraction, leaving in it’s wake one of the most highly anticipated final episodes ever for a series.  In short, Walter White (Bryan Cranston), a high school chemistry teacher, diagnosed with cancer, finds himself at a crossroads in his life.  He has always played it safe for his family, and now with a baby on the way, White turns to a life of crime.  Partnering up with his former student, Jesse (Aaron Paul), to cook meth, White finds himself spiraling down a dark path which eventually becomes his own demise.  Everything he aims to save in the beginning of series, he slowly looses, until he has nothing left to loose. This is what has the audience on the edge of their seats for the final episode.  What many people admired about the episode,  unlike many other series such as, Lost and The Sopranos, is that it left no question unanswered and tied all 5 seasons up with a big bang at the end, which everyone knew was coming – Walt’s death.  “Felina” had the highest ratings of any episode in the series, 10.28 million viewers. Along with viewership, the final Breaking Bad episode created an explosion over the twitter-shpear.  Walter White’s final hours on screen generated 1.2 million tweets, making it the most talked about television show for the week (out-ranking “The Voice” and “Grey’s Anatomy“). Breaking Bad had 12 Emmy Nominations in the 2013 season.  [9] [10]

The Walking Dead

- courtesy of collider.com

– courtesy of collider.com

AMC defiantly has a way with drama.  The hit apocalyptic zombie series, The Walking Dead, has accumulated what many would describe as a “cult” following.  Much like other AMC shows, Breaking Bad and Mad Men, the viewers are drawn in by the concept, but, stay for the character development.  AMC has made a name for itself in seeing just how far people will go when faced with a challenge, and for The Walking Dead, that challenge is to stay alive. Over the course of the series we see the protagonists stripped of humanity and brought down to nothing but animal instinct.  How they act and, re-act, is what keeps viewers coming back week after week.  It is not a typical zombie movie where the audience knows that, in the end, the humans will triumph and all is well in a matter of 2 hours.  The Walking Dead has reinvented suspense, being known for killing off main characters at any moment.  How do we know? Because numbers don’t lie.  The most recent season of Walking Dead, season 4, had earth shattering numbers, which had the media buzzing with anticipation. The hour long zombie drama pulled in 16.1 million viewers and an 8.2 rating among adults 18-49. These statistics put the show up 30% in the demo from season 3’s finale (their pervious high). [11] [12]

 In The Works

AMC’s New Pilot: Preacher

PreacherOriginally considered by, HBO, AMC has reportedly ordered the pilot to adapt the extremely dark DC comic , Preacher. HBO apparently passed up the deal due to the comic being too controversial.  Although, they didn’t state what was controversial about it, it could be assumed that it was the dark religious aspect of the storyline. Originally authored by Garth Ennis and Steve Dillon, Preacher has been described as many things, but to sum them up: the series is full on crazy. With the wrap up of Breaking Bad, AMC needs to fill the void that the dark drama has left for viewers. Although the pilot has only been ordered, there has already star power around the potential new show. Seth Rogen, a devoted Preacher comic fan, has sent out a number of hinting tweets that he could be involved with the project:

Screen Shot 2013-11-20 at 1.09.16 PM

He then followed up the tweet with another, naming some main characters in the series:

Screen Shot 2013-11-20 at 1.13.49 PM

Will the show get green lighted? No one can say for sure.  However, one thing can be said- this will defiantly be a defining moment for AMC and their content.  Judging from the comic books themselves, this show will be darker than anything seen on TV before, pushing AMC to the top of drama original programing. [13]

*Storyline of The Preacher Comic Book Series 

Sources

[1] History

[2] History: Cablevision exlporing spinoff of Rainbow Media 

[3] Purchase of Chellomedia

[4] Financials

[5] AMC Stock 

[6] Josh Sapan

[7] Ed Carroll

[8] Sean S. Sullivan

[9] Breaking Bad

[10] Breaking Bad

[11] The Walking Dead

[12] The Walking Dead

[13] Preacher