Has the Shrinking AMC Networks Become the Walking Dead of the Streaming Wars? | Analysis

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“There’s a lot more pain to come,” one analyst says of the company that is looking for its fourth CEO in two years

"The Walking Dead" (Photo illustration by TheWrap; AMC Networks)

As the streaming industry matures, AMC Networks — the cable-reliant company that introduced such hits as “Mad Men,” “Breaking Bad” and “The Walking Dead” — is among the smaller businesses that may be left behind in the competitive streaming wars, industry insiders tell TheWrap.

AMC Networks, majority-owned and controlled by the Dolan family, launched its flagship streamer, AMC+, in the summer of 2020, at the height of the pandemic and amid the boom of new platforms like the rebranded HBO Max. Just months afterward, in November, the company announced layoffs affecting 100 staffers, roughly 10% of its workforce at the time, in a restructuring meant to streamline linear network operations with streaming, then considered one of AMC Networks’ areas with the greatest potential for growth.