PASADENA, CALIF. — AMC Networks will continue to develop quality content even as it adjusts financially to a marketplace that is correcting itself after a period of peak TV production, AMC Networks president of entertainment and AMC Studios Dan McDermott said.
McDermott, speaking at the Television Critics Association Winter Press Tour Tuesday, said the programmer has had to “take stock and recalibrate” moving forward during an industry correction caused by rising inflation, a changing ad market, a glut of original programming and unpredictable streaming audience metrics.
As part of AMC’s cost-cutting measures, the network has pulled the plug on several shows in recent months, most recently the Michael B. Jordan-produced drama series 61st Street.
Also: ‘Large Scale Layoffs’ Planned at AMC Networks
“This has been a difficult but important process … at AMC we’ve taken critical steps so that going forward we are optimally positioned as a lean, progressive, forward-facing organization poised to take advantage of the myriad of opportunities in the marketplace,” McDermott said.
The network did announce several new shows during its Tuesday morning presentation, including the acquisition of rights to develop around John Maxim’s Bannerman spy book series. The five novels are being developed as potential series by Shane Black, Greg Nicotero and Brian Witten, AMC said.
The network also offered new details about its upcoming The Walking Dead spinoffs. The Walking Dead: Dead City, starring Lauren Cohan and Jeffrey Dean Morgan, will premiere in June, followed by The Walking Dead: Daryl Dixon, debuting later this year. The network will also debut in 2024 a new Walking Dead series featuring original series stars Andrew Lincoln (Rick Grimes) and Danai Gurira (Michonne).
AMC also released a first-look trailer for the eighth and final season of Fear the Walking Dead, which will debut the first of two six-episode parts on May 14. ■
