AMC Networks saw net income increase significantly in the first quarter due in Â arge part d to ad demand at its flagship cabler.
The owner of AMC, Sundance Channel, IFC and We said first-quarter net income came to about $61.5 million, or 86 cents a share, compared with about $43.2 million, or 62 cents a share a year earlier. Revenue in the period increased $56 million, or 17.1%, to $382 million over the first quarter of 2012.
AMC said the revenue growth was led primarily led by a 26.9% increase in advertising revenues at its national cable networks, where revenue came to $164 million.Â The company cited strong demand for original programming, particularly at AMC. At that cabler, horror series âThe Walking Deadâ has become a major hit among audiences between the ages of 18 and 49, a demographic highly sought after by advertisers..Â Distribution revenues increased 11.7% to $196 million, AMC said, citin increases in digital distribution and affiliate fee revenues.
AMC said revenue at its international and other operations came in around $26 milllion, essentially flat with performance in the year-earlier period. Â The company said an increase in affiliate fee revenues related to international operations offset by a decline in revenues at its IFC Films unit.