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AMC drops $60 million on RLJ Entertainment

AMC walks into streaming

AMC has just made a major play for streaming views with the acquisition of RLJ Entertainment.

AMC is one of the biggest players in the cable networks when it comes to views with their insanely popular zombie apocalypse show The Walking Dead. But, over the last few years, they have slowly been making a play for streaming services. In 2016, AMC struck a deal investing 65 million with the company RLJ Entertainment in which they would focus on creating more diverse content for streaming, video on demand channels, and independent film.

This morning, Variety reported that AMC doubled down their investment by buying RLJ Entertainment for a cool $60 million. RLJ Entertainment is the home to UMC or Urban Movie Channel, and ACORN TV,  which airs predominantly British television and film content. As cable television is becoming a thing of the past since the integration of Netflix into all of our lives, AMC may be slowly making their next play for the future. The acquisition comes after the company reached over 700,000 subscribers in January, a 13% boost from their previous numbers in September of 2017.

Other major networks like HBO and CBS have transitioned into streaming services by offering apps that are compatible with streaming devices people already own and offering their own exclusive content like CBS’ Star Trek Discovery.  Although the money is on the table, the deal isn’t done yet. The deal will require the board of RLJ Entertainment to sign off. A special committee is expected to evaluate the proposal.

Although the company has not revealed their plans for the future with the acquisition of RLJ Entertainment, it will be interesting to see how they grow their content. If they can create shows that capture audiences as The Walking Dead has, they will no doubt contest the other streaming services out there.

 

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