AM Blank CEO Matt Blank, who runs the company behind the AMC, IFC and Sundance Channel networks as well as niche streaming services like Horror Shudder, doesn’t pay much attention to the noise on Wall Street these days.
After Netflix discontinued the streaming space due to the loss of 200,000 subscribers last quarter, Blank argued that Wall Street viewers would be more realistic about the media business. “We like this more rational conversation,” Blank said at the MoffettNathanson Communications and Media Summit, which was streamed online.
“The good news from some of this noise is that everyone will start looking more closely at the streaming business side. It’s not just about the sheer number of subscriptions, how big the TAM is (total address market) Yes. I think the financial community would certainly reinforce this crazy assessment. “And since everything comes back to earth a little bit, I think we have an opportunity not to wash ourselves with the same cloth,” she added.
Blanc reiterated that AMC does not compete directly with the entertainment and broadcasting giants because it embodies a differentiated targeted broadcasting strategy. He said the key to streaming success is setting goals, ignoring market noise and moving forward. He added that financial markets do not differentiate and do not value competing streaming services as a business, other than the number of subscribers who signed up as a sign of future profitability.
The hurdle for Netflix could be AMC’s profits, he added. “This is the highest environment for us to accomplish. And we haven’t changed our strategy. “We can’t change our tactics because of what’s happening at another company in a given quarter or how financial markets react to these issues,” Blank told investors.
AMC’s acting boss has derided financial markets for jettisoning one of Netflix’s most successful entertainment companies. “Netflix suddenly ended. We don’t need to think about it. “We can do what we do well and keep investing in content and investing in that audience and investing in AMC+ and that business will grow,” argued Blank.
He also derided the idea of running Netflix ads as a solution to the company’s problems, but he didn’t rule out the possibility that AMC could serve ads during the run. “We’re still evaluating… we don’t have any plans at the moment. We’re not saying we won’t. But many questions arise. “The price of our services is relatively low,” he said.
Blank also argued that consolidation in the streaming space would continue, but that the potential for media giants to acquire other media giants was limited. “Targets are getting smaller, let’s see what happens,” said Blank.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
