1 00:00:06,280 --> 00:00:10,639 Speaker 1: Welcome to Strictly Business Varieties podcasts featuring conversations with industry 2 00:00:10,720 --> 00:00:15,000 Speaker 1: leaders about the business of entertainment. I'm Cynthia Littleton, Managing 3 00:00:15,160 --> 00:00:18,279 Speaker 1: editor of Television for Variety, and today my guest in 4 00:00:18,280 --> 00:00:22,520 Speaker 1: New York is AMC Network CEO Josh say Pen. Josh 5 00:00:22,640 --> 00:00:25,040 Speaker 1: is a cable industry veteran and one of its most 6 00:00:25,079 --> 00:00:29,160 Speaker 1: respected thinkers. He has headed AMC Network since the company 7 00:00:29,320 --> 00:00:32,120 Speaker 1: was spun off from Cable Vision in two thousand eleven. 8 00:00:32,720 --> 00:00:37,040 Speaker 1: In our conversation, Josh details AMC's efforts to diversify during 9 00:00:37,080 --> 00:00:41,440 Speaker 1: the past few years, with investments in international channels, in 10 00:00:41,440 --> 00:00:45,080 Speaker 1: independent streaming platforms, and the build out of the AMC 11 00:00:45,240 --> 00:00:49,880 Speaker 1: Studios ARM. He offers his thoughts on why AMC doesn't 12 00:00:49,920 --> 00:00:53,360 Speaker 1: need to quote dominate the planet, as he puts it, 13 00:00:53,600 --> 00:00:59,560 Speaker 1: to be successful. Jan CEO of AMC Networks, thank you 14 00:00:59,640 --> 00:01:02,760 Speaker 1: so much for stopping by. Great thanks, wonderful to be here. 15 00:01:02,960 --> 00:01:07,880 Speaker 1: We're at a moment when people are re examining, rethinking, reevaluating. 16 00:01:08,520 --> 00:01:11,720 Speaker 1: The headlines have been full of media m and A. 17 00:01:11,840 --> 00:01:14,679 Speaker 1: You run the one of the you know, one of 18 00:01:14,680 --> 00:01:21,280 Speaker 1: the really prestigious collections of great cable channels. AMC, Sundance, TV, WE, 19 00:01:21,520 --> 00:01:26,000 Speaker 1: t v I, f C, BBC America, a really nice 20 00:01:26,040 --> 00:01:31,000 Speaker 1: collection of channels small in the scheme of media that 21 00:01:31,000 --> 00:01:34,040 Speaker 1: that has been making headlines for seventy billion dollar deals 22 00:01:34,080 --> 00:01:37,520 Speaker 1: to bring companies together. How As you look ahead for 23 00:01:37,600 --> 00:01:40,000 Speaker 1: the next three to five years, where do you see 24 00:01:40,040 --> 00:01:45,440 Speaker 1: AMC networks competitive position? Where's your best shot to remain 25 00:01:45,680 --> 00:01:50,000 Speaker 1: a vital and competitive brand. Sure, so I think you've 26 00:01:50,240 --> 00:01:55,520 Speaker 1: actually described, uh, what could either be described as up 27 00:01:55,560 --> 00:02:02,280 Speaker 1: people or a frenzy in the media landscape, UH, perhaps 28 00:02:02,400 --> 00:02:11,560 Speaker 1: being the perception of it being made to seem somewhat 29 00:02:11,600 --> 00:02:16,320 Speaker 1: brighter because of M and A. UH And although fundamentals 30 00:02:16,320 --> 00:02:21,680 Speaker 1: are shifting, the M and A captures everyone's attention and 31 00:02:20,919 --> 00:02:26,480 Speaker 1: UH and lends a level of drama to the actual 32 00:02:26,600 --> 00:02:33,080 Speaker 1: patterns of consumption and economic vitality related to those patterns 33 00:02:33,080 --> 00:02:35,800 Speaker 1: of consumption. So I think it can make the circumstance 34 00:02:35,840 --> 00:02:40,520 Speaker 1: seem slightly exaggerated. So not to say that there aren't 35 00:02:40,520 --> 00:02:43,760 Speaker 1: fundamentals and that M and A isn't undergone transition and 36 00:02:43,800 --> 00:02:49,600 Speaker 1: therefore changing who's on first, so to speak. But so 37 00:02:49,639 --> 00:02:54,120 Speaker 1: the way I would respond to that is that, um, 38 00:02:54,280 --> 00:02:58,960 Speaker 1: we think that people like very good content, and that 39 00:02:59,040 --> 00:03:03,120 Speaker 1: they follow very good content, and they follow it in 40 00:03:03,280 --> 00:03:07,760 Speaker 1: changing patterns of consumption on different interfaces. But it is 41 00:03:08,560 --> 00:03:13,920 Speaker 1: fairly constant. Uh, It's fairly constant that people like what 42 00:03:13,960 --> 00:03:16,440 Speaker 1: they like. If you ask anyone rhetorically, what are your 43 00:03:16,440 --> 00:03:19,320 Speaker 1: favorite things, they could often answer it, it's a limited number, 44 00:03:19,680 --> 00:03:22,600 Speaker 1: and they'll find their way to those favorite things. So 45 00:03:22,639 --> 00:03:25,560 Speaker 1: our point of view and how we've been operating now 46 00:03:25,720 --> 00:03:28,360 Speaker 1: since we separated from Cable Vision spun off, which is 47 00:03:28,400 --> 00:03:32,160 Speaker 1: now about eight years, has been to as a core 48 00:03:32,960 --> 00:03:38,440 Speaker 1: principle focus on excellent content, and I'd like to think 49 00:03:38,480 --> 00:03:42,920 Speaker 1: that we haven't been distracted by some of the very 50 00:03:43,000 --> 00:03:47,880 Speaker 1: very near term rewards that are inherent in the media 51 00:03:48,000 --> 00:03:52,040 Speaker 1: or television business that defy or contradict very very very 52 00:03:52,040 --> 00:03:54,920 Speaker 1: good content. And it's put us in fairly stable instead, 53 00:03:54,960 --> 00:03:57,840 Speaker 1: which I can describe in more pragmatic circumstances relating to 54 00:03:57,840 --> 00:04:01,440 Speaker 1: our manner of distribution and our success and distribution and 55 00:04:01,480 --> 00:04:05,080 Speaker 1: our consumer appeal. While we've been doing that, we have been, however, 56 00:04:05,160 --> 00:04:08,840 Speaker 1: diversifying in a way that we think is meaningful in 57 00:04:08,920 --> 00:04:12,280 Speaker 1: response to the fundamental changes. And I'll be specific. So 58 00:04:12,920 --> 00:04:15,880 Speaker 1: your app description was we're a series of cable channels. 59 00:04:15,920 --> 00:04:20,080 Speaker 1: But today we are also an international company and we 60 00:04:20,200 --> 00:04:23,360 Speaker 1: use investing. Yeah, we spent a billion dollars to buy 61 00:04:23,600 --> 00:04:27,800 Speaker 1: channels overseas, and that is connected to the fact that 62 00:04:27,839 --> 00:04:31,679 Speaker 1: we're also a studio. And so we now have getting 63 00:04:31,680 --> 00:04:33,880 Speaker 1: close to half a billion dollars in revenue or a 64 00:04:33,920 --> 00:04:37,640 Speaker 1: big chunk of our economics coming from the shows that 65 00:04:37,720 --> 00:04:41,680 Speaker 1: we own the underlying rights too, and can place on 66 00:04:41,680 --> 00:04:46,200 Speaker 1: our own channels and ourselves others. So I'd like to 67 00:04:46,240 --> 00:04:48,080 Speaker 1: say that we were a cable we were a cable 68 00:04:48,160 --> 00:04:51,560 Speaker 1: channel company, and today we are a content company that 69 00:04:51,720 --> 00:04:55,680 Speaker 1: is that is relatively smaller and more boutique. I would 70 00:04:55,680 --> 00:04:59,200 Speaker 1: say that with as a strength, with more agility and 71 00:04:59,240 --> 00:05:05,359 Speaker 1: flexibility that has diversified its manner of economic exploitation to 72 00:05:05,480 --> 00:05:08,719 Speaker 1: include what was the United States and is the globe, 73 00:05:09,400 --> 00:05:15,080 Speaker 1: What was cable systems and is now in including the Internet, 74 00:05:15,720 --> 00:05:20,240 Speaker 1: and what was uh an interface that had a channel 75 00:05:20,240 --> 00:05:23,960 Speaker 1: lineup and now is an interface that is as frequently 76 00:05:24,080 --> 00:05:28,960 Speaker 1: an app right and in that world, the focus of 77 00:05:29,000 --> 00:05:33,000 Speaker 1: somebody finding their favorite show or that hot new property 78 00:05:33,120 --> 00:05:35,720 Speaker 1: that they that they've heard about through word of mouth, 79 00:05:35,839 --> 00:05:41,679 Speaker 1: through recommendations through their friends, UM in that in that world, 80 00:05:43,080 --> 00:05:47,240 Speaker 1: that focus on excellence becomes that much more important because 81 00:05:47,560 --> 00:05:50,360 Speaker 1: presumably people are going to run, people are going to 82 00:05:50,480 --> 00:05:55,760 Speaker 1: rise and seek out the premium, the exclusive, the distinctive. 83 00:05:56,080 --> 00:05:59,040 Speaker 1: That's kind of been your your mantra. It has been 84 00:05:59,040 --> 00:06:01,520 Speaker 1: our moentre. Who's an anecdote, and I hope it's not. 85 00:06:01,680 --> 00:06:04,720 Speaker 1: It's not meant to be self serving, but are not 86 00:06:04,880 --> 00:06:09,920 Speaker 1: biggest channel called DBC America UM, which is at Comic 87 00:06:09,960 --> 00:06:14,560 Speaker 1: Con today, parenthetically with Jody Whittaker being the first female doctor, 88 00:06:14,839 --> 00:06:18,720 Speaker 1: which is fun uh and is also today at Comic 89 00:06:18,760 --> 00:06:23,320 Speaker 1: Con talking about Killing Eve a little bit, which is 90 00:06:23,560 --> 00:06:28,160 Speaker 1: a show with Sandra Oh and Jody Comber written by 91 00:06:28,400 --> 00:06:32,600 Speaker 1: Phoebe waller Bridge. But that show premiered on what we 92 00:06:32,600 --> 00:06:35,440 Speaker 1: would call today on a relative basis, a smaller platform, 93 00:06:35,440 --> 00:06:41,280 Speaker 1: BBC America, and it actually either defied odds or even 94 00:06:41,279 --> 00:06:46,400 Speaker 1: defied gravity in terms of attention. Now limited number of episodes, 95 00:06:46,440 --> 00:06:49,440 Speaker 1: but it was excellent television. And so I think it's 96 00:06:49,480 --> 00:06:55,440 Speaker 1: the status that it has been roughly a decade or 97 00:06:55,520 --> 00:07:00,800 Speaker 1: so since one TV show grew its linear ratings in 98 00:07:00,880 --> 00:07:04,320 Speaker 1: every episode of its exhibition, which Killing Eve did. Now, 99 00:07:04,360 --> 00:07:07,560 Speaker 1: admittedly they're relatively small numbers compared to The Walking Dead, 100 00:07:08,400 --> 00:07:12,280 Speaker 1: but that was the trend, and you're in the television 101 00:07:13,000 --> 00:07:17,640 Speaker 1: writing business. Uh. Television critics gave it more recognition than 102 00:07:17,680 --> 00:07:21,200 Speaker 1: they did any other TV show this year. So it's 103 00:07:21,240 --> 00:07:25,880 Speaker 1: just an example of good or excellent finding its way 104 00:07:25,960 --> 00:07:29,800 Speaker 1: because people are paying a lot of attention and actually 105 00:07:29,840 --> 00:07:33,280 Speaker 1: the barriers that used to cause them to only go 106 00:07:33,520 --> 00:07:36,280 Speaker 1: one way, for instance, the channel that they were on 107 00:07:36,600 --> 00:07:38,320 Speaker 1: and the night and the time and the night on 108 00:07:38,360 --> 00:07:42,200 Speaker 1: the time or gone. And And I also think that 109 00:07:43,240 --> 00:07:49,520 Speaker 1: what replaced that paradigm, which is became the almighty algorithm, 110 00:07:50,040 --> 00:07:53,560 Speaker 1: is actually showing signs of somewhere in fact. And I 111 00:07:53,600 --> 00:07:58,840 Speaker 1: think that personal recommendation and curation as it relates to 112 00:07:58,840 --> 00:08:04,120 Speaker 1: Berthal recommendation is becoming more important in the face of 113 00:08:04,200 --> 00:08:09,000 Speaker 1: machines indicating what you might like. That sounds labor intensive. 114 00:08:11,600 --> 00:08:19,480 Speaker 1: I would beg to differ. I actually think that um that. Uh. 115 00:08:20,520 --> 00:08:24,760 Speaker 1: I'll say it rhetorically. I wouldn't tell my friends to 116 00:08:24,840 --> 00:08:31,040 Speaker 1: go watch something unless I really thought they would like it. Uh, 117 00:08:31,160 --> 00:08:34,600 Speaker 1: I wouldn't. But a machine might tell you to watch 118 00:08:34,640 --> 00:08:38,679 Speaker 1: something if it's indications are that you might like it. 119 00:08:39,160 --> 00:08:45,800 Speaker 1: So I think that real people, real humans us are 120 00:08:46,000 --> 00:08:56,160 Speaker 1: relying increasingly more on personal reference and recommendations, and frankly 121 00:08:56,200 --> 00:09:00,959 Speaker 1: to a degree a of course less than watching what's 122 00:09:00,960 --> 00:09:02,720 Speaker 1: on at nine, because you were watching what was on 123 00:09:02,760 --> 00:09:10,160 Speaker 1: at eight, but also a little less uh by watching 124 00:09:10,200 --> 00:09:13,680 Speaker 1: what an algorithms suggests you should watch. And let me 125 00:09:13,679 --> 00:09:15,160 Speaker 1: ask you the question. I don't mean to put you 126 00:09:15,200 --> 00:09:17,560 Speaker 1: on the spot, and I'm supposed to being interviewed, but 127 00:09:17,720 --> 00:09:20,080 Speaker 1: I think you might answer that you pay a little 128 00:09:20,080 --> 00:09:24,040 Speaker 1: bit more attention to what people who you respect and 129 00:09:24,760 --> 00:09:30,040 Speaker 1: like and think have good screen criteria are more than 130 00:09:30,120 --> 00:09:34,120 Speaker 1: what pops up through some and I don't mean to 131 00:09:35,840 --> 00:09:40,200 Speaker 1: make it sound poor, but through essentially a formula. It's 132 00:09:40,200 --> 00:09:42,120 Speaker 1: absolutely true. And I would just like to say that 133 00:09:42,160 --> 00:09:45,200 Speaker 1: I distinctly remember speaking to you a couple of years 134 00:09:45,240 --> 00:09:47,280 Speaker 1: ago and you said, I've just seen this great play 135 00:09:47,320 --> 00:09:50,640 Speaker 1: at the public It's called Hamilton's It's crazy. It's so good. 136 00:09:50,760 --> 00:09:54,760 Speaker 1: So so you're your your recommendations right higher. But to 137 00:09:54,840 --> 00:09:57,520 Speaker 1: your point, yeah, it's so that's you know, it's it's 138 00:09:57,600 --> 00:10:01,960 Speaker 1: it's interesting because uh, you know, just when you thought 139 00:10:01,960 --> 00:10:04,280 Speaker 1: it was safe to go back in the water, Uh, 140 00:10:04,440 --> 00:10:06,680 Speaker 1: just when you thought it was safe to premier a 141 00:10:06,720 --> 00:10:09,880 Speaker 1: show and deliver an audience because it was preceded by 142 00:10:09,880 --> 00:10:14,360 Speaker 1: a big show. Came the emergence of something that made 143 00:10:15,120 --> 00:10:19,240 Speaker 1: everything on demand easily accessible, which put pressure on that 144 00:10:19,320 --> 00:10:22,560 Speaker 1: old system. Didn't go away. And now just when you 145 00:10:22,640 --> 00:10:28,560 Speaker 1: thought you could safely rely onto ubiquitous recommendation algorithm, through 146 00:10:28,760 --> 00:10:34,640 Speaker 1: a good uh development of that sort of machinery, I 147 00:10:34,679 --> 00:10:37,840 Speaker 1: think comes the beginning, I would say, of what might 148 00:10:37,840 --> 00:10:43,559 Speaker 1: be exhaustion with it, and it's enhanced that exhaustion by degrees, 149 00:10:43,720 --> 00:10:46,320 Speaker 1: if you will. I wouldn't call it a suspicion, but 150 00:10:47,280 --> 00:10:54,080 Speaker 1: by degrees of evidence in social media that what you're 151 00:10:54,160 --> 00:10:58,080 Speaker 1: getting is not what you should be getting. And you 152 00:10:58,200 --> 00:11:03,200 Speaker 1: see that. Obviously book Head labored and continues to labor 153 00:11:03,280 --> 00:11:04,960 Speaker 1: under some of the issues related to that, and you 154 00:11:05,000 --> 00:11:08,800 Speaker 1: see in other platforms then beginning to try to adjudicate 155 00:11:09,559 --> 00:11:14,200 Speaker 1: what pleasing they need to do. And I actually just 156 00:11:14,280 --> 00:11:20,559 Speaker 1: think it's the not maybe the beginning of some questioning 157 00:11:20,679 --> 00:11:24,000 Speaker 1: and greater personal authority in the manner in which you 158 00:11:24,080 --> 00:11:29,000 Speaker 1: make your choices and curation. Right now in this world 159 00:11:29,200 --> 00:11:34,120 Speaker 1: a wash in content curation. Good curation is more valuable 160 00:11:34,120 --> 00:11:36,960 Speaker 1: than ever, and that's kind of what you offer people 161 00:11:37,000 --> 00:11:40,240 Speaker 1: through through am C, through Sundance as a brand, I 162 00:11:40,280 --> 00:11:42,320 Speaker 1: think I think the answer is yes, and I wouldn't 163 00:11:42,360 --> 00:11:44,240 Speaker 1: limit it to us. I mean, there are other brands 164 00:11:44,280 --> 00:11:48,640 Speaker 1: that are very trusted for what they do. And you know, 165 00:11:48,720 --> 00:11:52,319 Speaker 1: everyone has their favorites. I won't name mine, but everyone. 166 00:11:52,440 --> 00:11:58,080 Speaker 1: If you said what channel or what frankly magazine, UH 167 00:11:58,240 --> 00:12:01,200 Speaker 1: would you go to just because it's there, everyone would 168 00:12:01,240 --> 00:12:04,000 Speaker 1: come up with their answer. And I do think that 169 00:12:04,040 --> 00:12:08,120 Speaker 1: we've taken pains to establish that if you see something 170 00:12:08,120 --> 00:12:12,040 Speaker 1: on a MC, it's going to be like this. And 171 00:12:12,120 --> 00:12:16,880 Speaker 1: it may be as different from Madmen, Breaking Bed, Walking 172 00:12:16,920 --> 00:12:21,079 Speaker 1: Dead and currently Lodge for You Nine with Wyatt Russell, 173 00:12:21,240 --> 00:12:25,959 Speaker 1: or diet Land with Julianna Margalie's or The Terror with 174 00:12:26,080 --> 00:12:29,480 Speaker 1: Jared Harris, but I think you're gonna see a very 175 00:12:29,480 --> 00:12:32,600 Speaker 1: well constructed drama no much, no matter what the circumstances. 176 00:12:32,600 --> 00:12:37,000 Speaker 1: And I think on BBC America, whether you're seeing Blue 177 00:12:37,040 --> 00:12:42,240 Speaker 1: Planet two or Planet Earth, which you're obviously nonfiction, or 178 00:12:42,280 --> 00:12:45,680 Speaker 1: you're seeing Killing Eve, you're seeing something that stands up. 179 00:12:45,720 --> 00:12:47,559 Speaker 1: And I think on i f C, if you're seeing 180 00:12:47,800 --> 00:12:53,240 Speaker 1: Portlandia or Documentary Now, you're seeing something that is idiosyncratic, 181 00:12:53,800 --> 00:12:57,560 Speaker 1: comedic and reliable in what it delivers you. And there's 182 00:12:57,840 --> 00:13:03,680 Speaker 1: extraordinary benefit a of course in the content standing for itself, 183 00:13:03,840 --> 00:13:09,120 Speaker 1: but also in the frame of reference meeting expectations right, 184 00:13:09,240 --> 00:13:11,319 Speaker 1: and and that I'm sure that puts a that puts 185 00:13:11,320 --> 00:13:14,040 Speaker 1: a bar on your programmers, because that puts a high 186 00:13:14,040 --> 00:13:18,199 Speaker 1: bar for your programmers in terms of meeting those expectations 187 00:13:18,240 --> 00:13:21,320 Speaker 1: set very high by you know, little shows like mad 188 00:13:21,400 --> 00:13:25,200 Speaker 1: Men and Breaking Bad and Rectify on Sunday's TV. Do 189 00:13:25,320 --> 00:13:29,319 Speaker 1: you worry about the future of the linear TV business, 190 00:13:29,520 --> 00:13:32,240 Speaker 1: the future of the you know, getting people to the 191 00:13:32,400 --> 00:13:36,240 Speaker 1: set at Thursday at nine or Sunday at eight. Uh? Yeah, 192 00:13:36,320 --> 00:13:39,160 Speaker 1: I think the answers yes. I wouldn't say worried about 193 00:13:39,160 --> 00:13:41,680 Speaker 1: the future of it. I say that it's undergoing transition. 194 00:13:42,240 --> 00:13:51,000 Speaker 1: And um I think that. Um it's a curious question 195 00:13:51,559 --> 00:13:54,320 Speaker 1: and a rich question and to be a fascinating question 196 00:13:54,400 --> 00:14:00,800 Speaker 1: and an imperfect analog. UM is terrestrial radio, which competed, 197 00:14:00,800 --> 00:14:05,360 Speaker 1: of course with satellite radio, which offered diversity and essentially 198 00:14:05,400 --> 00:14:09,840 Speaker 1: a cable paradigm like alternative first in the automobile, UM, 199 00:14:09,840 --> 00:14:12,720 Speaker 1: where you could have incredible diversity on a vertical basis. 200 00:14:12,760 --> 00:14:15,960 Speaker 1: So you could listen to a political channel and that 201 00:14:16,200 --> 00:14:20,680 Speaker 1: was I would say it wasn't supplanted, but it was 202 00:14:20,760 --> 00:14:27,280 Speaker 1: hugely influenced by um streaming services. Uh so take Pandora 203 00:14:27,360 --> 00:14:31,640 Speaker 1: bad analogy, but Pandora offered you something that was customized 204 00:14:31,680 --> 00:14:35,320 Speaker 1: for you, and then Spotify offered something different, and Apple 205 00:14:35,560 --> 00:14:39,480 Speaker 1: Music offered something different than Amazon offered something different related 206 00:14:39,520 --> 00:14:44,160 Speaker 1: to price and creation. To rest you, radio is hardly dead. 207 00:14:44,600 --> 00:14:46,360 Speaker 1: To rest you, radio is a different animal. And by 208 00:14:46,400 --> 00:14:51,160 Speaker 1: the way, podcasts of course offered talk radio, if you 209 00:14:51,200 --> 00:14:53,640 Speaker 1: want to call it that, in a completely different incarnation. 210 00:14:53,760 --> 00:14:57,080 Speaker 1: So so I hope I'm not going on too much 211 00:14:57,160 --> 00:14:59,760 Speaker 1: length about it, but it's a fascinating subject. So our 212 00:15:00,000 --> 00:15:04,680 Speaker 1: engagement with linear television in the US is mindful of 213 00:15:04,720 --> 00:15:08,600 Speaker 1: the fact that it's taking on different proportion and a 214 00:15:08,680 --> 00:15:13,200 Speaker 1: different nature. But we do think that it has important 215 00:15:13,240 --> 00:15:16,920 Speaker 1: and important place in the world, just a very different 216 00:15:16,920 --> 00:15:19,040 Speaker 1: place in the world, and it will have different characteristics. 217 00:15:19,560 --> 00:15:22,320 Speaker 1: And you really prospered, you know, I know from covering 218 00:15:22,320 --> 00:15:26,440 Speaker 1: your earnings. I mean you've really prospered, prospered through content licensing. 219 00:15:26,760 --> 00:15:29,400 Speaker 1: In the last couple of years, You've seen really meaningful 220 00:15:29,760 --> 00:15:33,400 Speaker 1: revenue coming through Obviously, that's a that's a calculation as 221 00:15:33,440 --> 00:15:36,440 Speaker 1: to how much of your content that you exhibit first 222 00:15:36,480 --> 00:15:40,960 Speaker 1: on linear platforms, how much do you how much do 223 00:15:41,000 --> 00:15:44,600 Speaker 1: you license out into other buyers that want your high 224 00:15:44,680 --> 00:15:48,920 Speaker 1: quality content to bring subscribers and eyeballs to their platforms. 225 00:15:48,920 --> 00:15:51,400 Speaker 1: How do I know? Over the years you've had you've 226 00:15:51,440 --> 00:15:53,680 Speaker 1: gone back and forth a little bit, but in general 227 00:15:53,840 --> 00:15:57,120 Speaker 1: you have made you have embraced the s P o 228 00:15:57,240 --> 00:16:01,600 Speaker 1: D world and made shows available on a season delay basis. 229 00:16:02,240 --> 00:16:06,040 Speaker 1: Is that are those calculations becoming more tricky now that 230 00:16:06,080 --> 00:16:09,600 Speaker 1: you are sort of seemingly kind of tiptoeing into your 231 00:16:09,640 --> 00:16:12,520 Speaker 1: own streaming platforms. So you know, I think you you 232 00:16:13,160 --> 00:16:16,720 Speaker 1: characterized it rather perfectly. I think that, um, we set 233 00:16:16,720 --> 00:16:19,960 Speaker 1: ourselves up to evaluate it on an ongoing basis. Not surprisingly, 234 00:16:20,320 --> 00:16:24,240 Speaker 1: we made a calculation and arrived at sort of a 235 00:16:24,280 --> 00:16:26,200 Speaker 1: protocol if you want to call it that, for how 236 00:16:26,280 --> 00:16:28,680 Speaker 1: to approach that which was just what you said, which 237 00:16:28,760 --> 00:16:32,920 Speaker 1: is to take advantage of the economic reward that allowed 238 00:16:33,000 --> 00:16:36,680 Speaker 1: us to pour more money into production by doing licensing 239 00:16:36,760 --> 00:16:41,080 Speaker 1: to third parties, which continues. We now have a few 240 00:16:41,240 --> 00:16:45,040 Speaker 1: several streaming services which have grown in terms of our 241 00:16:45,760 --> 00:16:47,680 Speaker 1: own the ones that we do at our own hand 242 00:16:47,720 --> 00:16:51,400 Speaker 1: and ones we've invested in external to those, and so 243 00:16:51,440 --> 00:16:55,680 Speaker 1: we now have scale enough for the economic consideration of 244 00:16:55,720 --> 00:16:58,280 Speaker 1: whether the show as we make should go to those 245 00:16:58,280 --> 00:17:02,160 Speaker 1: streaming services. And so it's become a more practical consideration 246 00:17:02,240 --> 00:17:06,480 Speaker 1: economically and so called strategically to place some of that 247 00:17:06,880 --> 00:17:12,480 Speaker 1: content perhaps on those streaming services. So I would call 248 00:17:12,520 --> 00:17:17,960 Speaker 1: it a work in progress. Um I think others who 249 00:17:18,080 --> 00:17:22,359 Speaker 1: have a different media mix and different proportion and perhaps 250 00:17:22,400 --> 00:17:25,600 Speaker 1: different ambitions in terms of size are reacting to it 251 00:17:25,680 --> 00:17:29,680 Speaker 1: somewhere differently. We were earlier to the activity. It's been 252 00:17:29,720 --> 00:17:35,120 Speaker 1: now five years of subscription video on demand services with 253 00:17:35,520 --> 00:17:39,800 Speaker 1: owned contents that we were there before some others were, 254 00:17:40,480 --> 00:17:43,359 Speaker 1: and but that's appropriate for the scale of our business, 255 00:17:43,400 --> 00:17:47,119 Speaker 1: for our size. We actually don't need to dominate the 256 00:17:47,200 --> 00:17:52,880 Speaker 1: planet in order to be extraordinarily successful, and so we've 257 00:17:52,920 --> 00:17:56,840 Speaker 1: also put that into our calculus. But the answer is yes, 258 00:17:56,880 --> 00:18:01,840 Speaker 1: we actually give different consideration to where material that we 259 00:18:01,920 --> 00:18:05,359 Speaker 1: make may go in the future. And you reference your 260 00:18:05,400 --> 00:18:08,560 Speaker 1: investment you've been you bought, you bought a big chunk 261 00:18:08,600 --> 00:18:13,000 Speaker 1: of Robert Johnson's company that has the Acorn streaming platform 262 00:18:13,280 --> 00:18:16,280 Speaker 1: is known as a home for British drama. You own 263 00:18:16,359 --> 00:18:19,240 Speaker 1: BBC America. The map there seems to make a lot 264 00:18:19,240 --> 00:18:22,240 Speaker 1: of sense. Can you talk about what motivated your investment 265 00:18:22,320 --> 00:18:25,320 Speaker 1: in Robert Johnson's company? Sure, so, so yeah. We we 266 00:18:25,400 --> 00:18:31,080 Speaker 1: operate a tow services ourselves that are of one could 267 00:18:31,160 --> 00:18:35,399 Speaker 1: call them niche or decidedly focused editorial area. One is 268 00:18:35,440 --> 00:18:39,119 Speaker 1: Sundance now, which focuses on sundance like material it barely 269 00:18:39,160 --> 00:18:42,160 Speaker 1: needs more explanation to this called Shutter, which focuses on 270 00:18:42,200 --> 00:18:45,160 Speaker 1: what's broadly called genre material, and both have been growing 271 00:18:45,240 --> 00:18:49,840 Speaker 1: very well. We then made an investment in the company's 272 00:18:50,000 --> 00:18:52,480 Speaker 1: Bob Johnson's company. It bears the name r l j E. 273 00:18:52,600 --> 00:18:56,080 Speaker 1: It's publicly traded. It has two streaming services. One is 274 00:18:56,119 --> 00:18:59,480 Speaker 1: called Acorn, focused on British mysteries, and it also owns 275 00:18:59,520 --> 00:19:04,280 Speaker 1: the underlawe assets of Agatha Christie and something called UMC 276 00:19:04,560 --> 00:19:08,240 Speaker 1: or Urban Movie Channel targeted for urban audiences. And they 277 00:19:08,240 --> 00:19:13,280 Speaker 1: have been growing extremely handsomely, and so we had the 278 00:19:13,320 --> 00:19:18,120 Speaker 1: deal was warrants initially, it's all public and we've purchased 279 00:19:18,119 --> 00:19:20,280 Speaker 1: more of the company and we now have a offer 280 00:19:20,320 --> 00:19:24,240 Speaker 1: to to take the company private. So that's actively being 281 00:19:24,280 --> 00:19:26,480 Speaker 1: considered because we'd like being in the streaming business. And 282 00:19:26,480 --> 00:19:29,640 Speaker 1: then we set up AMC Premier, which was the first 283 00:19:29,800 --> 00:19:35,199 Speaker 1: of its kind, uh so called Inside Baseball World in 284 00:19:35,359 --> 00:19:40,520 Speaker 1: ecosystem with Comcast Acfinity subscription video on demand service that 285 00:19:40,640 --> 00:19:43,480 Speaker 1: just launched on YouTube tv last week. So when all 286 00:19:43,600 --> 00:19:47,000 Speaker 1: we have six and that service, just to clarify, offers 287 00:19:47,720 --> 00:19:52,040 Speaker 1: viewers the linear basically the linear streams and on demand 288 00:19:52,080 --> 00:19:55,679 Speaker 1: streams of your five channels, but without commercials. It's actually 289 00:19:55,680 --> 00:19:58,760 Speaker 1: of a MC and then and uh so it's a 290 00:19:58,880 --> 00:20:03,680 Speaker 1: MC and then selectively we have offered because it's sympathetic 291 00:20:03,760 --> 00:20:08,680 Speaker 1: with our m v PD partners, we have ah put 292 00:20:08,840 --> 00:20:13,200 Speaker 1: some series on that are binge able at time of premiere. 293 00:20:13,760 --> 00:20:17,320 Speaker 1: So and that's the calculation that we're making about where 294 00:20:17,359 --> 00:20:21,600 Speaker 1: we and our MVPT partners can experience experience the greatest 295 00:20:21,680 --> 00:20:25,600 Speaker 1: value development. So and we'll do things differently as we 296 00:20:25,640 --> 00:20:29,360 Speaker 1: go forward. Uh and I think we'll see wider distribution 297 00:20:29,640 --> 00:20:33,240 Speaker 1: for that service. But it's nice to say that, and 298 00:20:33,280 --> 00:20:35,640 Speaker 1: I should have perhaps mentioned it earlier. All of those 299 00:20:35,680 --> 00:20:39,240 Speaker 1: subscription video on demand services are experiencing a good pace 300 00:20:39,240 --> 00:20:44,639 Speaker 1: of growth, and we're pretty economically minded about the manner 301 00:20:44,640 --> 00:20:47,480 Speaker 1: in which we invest in them. So it's not only 302 00:20:48,760 --> 00:20:53,439 Speaker 1: linear channels that were are beginning and international exposure and 303 00:20:53,560 --> 00:20:56,359 Speaker 1: studio and owned. It's now subscription video on demand that 304 00:20:56,400 --> 00:20:59,480 Speaker 1: we have equity in. So we like the composition of 305 00:20:59,480 --> 00:21:03,960 Speaker 1: our company. Is the plan with the Robert Johnson Company, 306 00:21:04,320 --> 00:21:06,920 Speaker 1: is the plan to keep Urban Movie Channel and Acorn, 307 00:21:07,000 --> 00:21:10,320 Speaker 1: to keep those as those distinct brands, or might you 308 00:21:10,560 --> 00:21:13,920 Speaker 1: might you rebrand them into a more sort of general 309 00:21:14,000 --> 00:21:16,400 Speaker 1: entertainment service at some point. The plan is to keep 310 00:21:16,440 --> 00:21:19,600 Speaker 1: them as distinct brands. We think that that company and 311 00:21:19,640 --> 00:21:23,680 Speaker 1: the people who operated have done a magnificent job developing 312 00:21:23,880 --> 00:21:29,000 Speaker 1: those as being a top choice of people who like 313 00:21:30,000 --> 00:21:33,359 Speaker 1: that material, and it's evidenced in the numbers and in 314 00:21:33,359 --> 00:21:35,080 Speaker 1: the pace of growth. By the way, I should mention 315 00:21:35,720 --> 00:21:40,719 Speaker 1: not parenthetically, that we're also partners with our friends at 316 00:21:40,720 --> 00:21:43,679 Speaker 1: the BBC in another streaming service called brit Box, if 317 00:21:43,720 --> 00:21:47,800 Speaker 1: I didn't mention it, and so that's a separate flavor 318 00:21:48,119 --> 00:21:51,920 Speaker 1: of British content now streaming commercial free on the internet 319 00:21:52,240 --> 00:21:54,800 Speaker 1: and I t V as a partner in that. So 320 00:21:55,119 --> 00:21:59,040 Speaker 1: when I mentioned six, I was probably didn't count the sixth, 321 00:21:59,119 --> 00:22:02,040 Speaker 1: but that's what makes at six and so we like 322 00:22:02,160 --> 00:22:04,159 Speaker 1: and enjoy the answers. Yes, we think they're doing a 323 00:22:04,160 --> 00:22:08,800 Speaker 1: wonderful job. We think Acorn is perfectly articulated and very 324 00:22:08,800 --> 00:22:12,720 Speaker 1: well developed. And we think Urban Movie Channel is in 325 00:22:12,760 --> 00:22:19,800 Speaker 1: a wonderful position to be the authoritative brand both for 326 00:22:20,119 --> 00:22:24,880 Speaker 1: creative people in that community and for consumers in that community. 327 00:22:25,000 --> 00:22:29,040 Speaker 1: And there has yet to be a declaration and an 328 00:22:29,080 --> 00:22:35,240 Speaker 1: implementation of real creative ambition by and for that community. 329 00:22:35,280 --> 00:22:38,280 Speaker 1: So that's a wonderful ambition that we hold with our 330 00:22:38,640 --> 00:22:43,120 Speaker 1: with Bob is um what what has the uptake been 331 00:22:43,400 --> 00:22:47,159 Speaker 1: on the AMC Premier package? You know, it's still relatively 332 00:22:47,160 --> 00:22:50,959 Speaker 1: early days, but we're very encouraged by what began just 333 00:22:51,040 --> 00:22:54,520 Speaker 1: several months ago and is on the Comcast Exfinity platform 334 00:22:54,600 --> 00:22:58,600 Speaker 1: alone and is experiencing a good number of subscribers. Um 335 00:22:58,640 --> 00:23:04,560 Speaker 1: and was followed raple BYFX doing the same plot, if 336 00:23:04,600 --> 00:23:07,719 Speaker 1: you will, on the Comcast Expenity platform. Has it mean 337 00:23:07,800 --> 00:23:11,119 Speaker 1: Comcast has demonstrated its willingness to experiment? Has it been 338 00:23:11,119 --> 00:23:13,399 Speaker 1: a tougher conversation with other m v p d s 339 00:23:13,480 --> 00:23:16,040 Speaker 1: to get them to offer You know, we we actually 340 00:23:16,080 --> 00:23:21,320 Speaker 1: have been focused fairly, uh somewhat singularly I will say 341 00:23:21,400 --> 00:23:25,120 Speaker 1: with Comcast, because we've been building it with them, uh, 342 00:23:25,200 --> 00:23:27,560 Speaker 1: if you will sort of there in our baby and 343 00:23:27,880 --> 00:23:31,760 Speaker 1: UH and so we have focused our attention fairly specifically 344 00:23:32,320 --> 00:23:35,960 Speaker 1: on and some of the nuances of where you come 345 00:23:36,000 --> 00:23:39,560 Speaker 1: into the system, how you find it, how you connect, 346 00:23:39,920 --> 00:23:43,720 Speaker 1: how you're identified, how you pay, have degrees of complexity. 347 00:23:43,800 --> 00:23:46,640 Speaker 1: So we've been focused on making that a very good experience. 348 00:23:47,200 --> 00:23:52,720 Speaker 1: So we've yet to really commence actively UH seeking wide 349 00:23:52,720 --> 00:23:57,640 Speaker 1: wide distribution Florida. Is it um it costs about six 350 00:23:57,680 --> 00:24:02,280 Speaker 1: bucks a month? And is the split that you do 351 00:24:02,320 --> 00:24:05,960 Speaker 1: with Comcast with your distribution partner, is it commensurate to 352 00:24:06,080 --> 00:24:08,720 Speaker 1: like a pay TV like with like an HBO or 353 00:24:08,760 --> 00:24:11,760 Speaker 1: a showtime. You know, we have our own very happy 354 00:24:11,880 --> 00:24:17,000 Speaker 1: arrangement with Comcast. As you might imagine. The sensitivities on splits, 355 00:24:17,400 --> 00:24:23,399 Speaker 1: as with many things in commerce between business partners get UH, 356 00:24:23,680 --> 00:24:27,400 Speaker 1: are subject to great care of expression. The content business 357 00:24:27,400 --> 00:24:32,240 Speaker 1: and especially you know, the very distinctive and innovative fair 358 00:24:32,400 --> 00:24:35,600 Speaker 1: that has made you know that put AMC on the map. Um, 359 00:24:35,680 --> 00:24:38,160 Speaker 1: that stuff doesn't It never has come cheap. But boy, 360 00:24:38,359 --> 00:24:41,040 Speaker 1: the arms race that people are talking about in content 361 00:24:41,200 --> 00:24:43,919 Speaker 1: right now is so much is fueling a lot of 362 00:24:43,960 --> 00:24:46,159 Speaker 1: the M and A people are trying to, you know, 363 00:24:46,440 --> 00:24:50,320 Speaker 1: ensure that they have big, heavy pipelines of creative people 364 00:24:50,480 --> 00:24:54,439 Speaker 1: writing nine figure checks to lock up to lock up producers. 365 00:24:54,760 --> 00:24:58,680 Speaker 1: Can AMC play in those waters? Yeah? You know. Um, 366 00:24:58,840 --> 00:25:02,159 Speaker 1: the answers are definiti I believe, yes, and if I may, 367 00:25:01,880 --> 00:25:08,320 Speaker 1: I think that um it is it is true that 368 00:25:08,320 --> 00:25:10,960 Speaker 1: that arms race so called that you mentioned is occurring, 369 00:25:11,680 --> 00:25:16,320 Speaker 1: and I think that there's a sort of panic in 370 00:25:16,320 --> 00:25:22,080 Speaker 1: the streets about that. Um. We have been running, I 371 00:25:22,119 --> 00:25:26,359 Speaker 1: will say bluntly, a very different playbook, and so we 372 00:25:26,440 --> 00:25:31,280 Speaker 1: are not seeking to produce a hundred and eighties series 373 00:25:31,920 --> 00:25:37,600 Speaker 1: in a year, and we look carefully when we do. 374 00:25:37,680 --> 00:25:43,400 Speaker 1: The Terror for example, So AMC was a limited series 375 00:25:43,400 --> 00:25:47,359 Speaker 1: called The Terror. It's an anthology series and will reincarnate 376 00:25:47,400 --> 00:25:49,199 Speaker 1: it this I don't know if you saw the last one. 377 00:25:49,240 --> 00:25:51,520 Speaker 1: It was about a ship sailing through the Northwest Passage. 378 00:25:51,520 --> 00:25:53,119 Speaker 1: It was pretty good at the Great ratings, it was 379 00:25:53,160 --> 00:25:56,520 Speaker 1: well reviewed. Um, there'll be a terror too, if you will, 380 00:25:58,280 --> 00:26:01,080 Speaker 1: thank you, thank you for that word. And so we 381 00:26:01,560 --> 00:26:05,840 Speaker 1: so we didn't rush out and deliver a nine figure 382 00:26:05,920 --> 00:26:10,600 Speaker 1: check to someone for that or for diet Land or 383 00:26:10,720 --> 00:26:14,280 Speaker 1: for killing Eve, or for Lodge forty nine, who Paul 384 00:26:14,320 --> 00:26:18,560 Speaker 1: Giamatti and Dan Carry did for us, or for Fear 385 00:26:18,600 --> 00:26:21,359 Speaker 1: the Walking Dead, or for any show that we have 386 00:26:21,480 --> 00:26:26,880 Speaker 1: on the air. We actually operated within I think, very 387 00:26:26,920 --> 00:26:32,720 Speaker 1: reasonable and highly disciplined economic parameters. I'd like to think 388 00:26:32,800 --> 00:26:38,160 Speaker 1: with true, true, true respect for the creative people involved 389 00:26:38,280 --> 00:26:42,359 Speaker 1: and the desire for them to bring to life the 390 00:26:42,400 --> 00:26:46,719 Speaker 1: stories they wanted to tell, uh as well as they 391 00:26:46,760 --> 00:26:49,679 Speaker 1: possibly could. And I hope Marty Knoxon would say that 392 00:26:49,720 --> 00:26:53,879 Speaker 1: we helped her realize diet Land, and I hope that 393 00:26:53,960 --> 00:26:59,560 Speaker 1: Hankers Area would say that we brought rock Meyer to 394 00:26:59,600 --> 00:27:03,680 Speaker 1: life if c a character he's been doing since he's fifteen, uh, 395 00:27:03,920 --> 00:27:07,879 Speaker 1: to life when no one else would. And it's not because, uh, 396 00:27:07,920 --> 00:27:10,359 Speaker 1: we we paid a big check to someone. It's because 397 00:27:10,440 --> 00:27:12,159 Speaker 1: we believed in Funny or Diet, which we own a 398 00:27:12,160 --> 00:27:15,320 Speaker 1: piece of, and we believed in the character, and we 399 00:27:15,400 --> 00:27:18,600 Speaker 1: believed in Hank and we brought it to life. So 400 00:27:18,840 --> 00:27:24,280 Speaker 1: we didn't buy our way into creative excellence. We actually 401 00:27:24,800 --> 00:27:27,919 Speaker 1: sought creative excellence, and we sought stories that were as 402 00:27:28,000 --> 00:27:33,480 Speaker 1: yet untold and unmade. And I actually think that, uh, 403 00:27:33,520 --> 00:27:38,200 Speaker 1: if you go back and run an inventory of everything 404 00:27:38,280 --> 00:27:45,000 Speaker 1: that should have been wonderfully successful on television because it's 405 00:27:45,040 --> 00:27:49,600 Speaker 1: pedigree was should have led to great success. I think 406 00:27:49,640 --> 00:27:53,720 Speaker 1: what you'll find is a pretty modest batting average. Yes 407 00:27:53,760 --> 00:27:57,240 Speaker 1: there are you'll find Dick Wolf, Yes, you'll find somebody else. 408 00:27:57,240 --> 00:27:59,520 Speaker 1: And you'll also find and I don't want to name 409 00:27:59,560 --> 00:28:04,359 Speaker 1: the name a list of road kill that would cause 410 00:28:04,359 --> 00:28:07,040 Speaker 1: you to think, not once twice, or but perhaps never 411 00:28:07,080 --> 00:28:10,200 Speaker 1: to ever do that, right, Right, there's a lot of 412 00:28:10,280 --> 00:28:13,399 Speaker 1: you know, high priced recruits that that don't always that 413 00:28:13,440 --> 00:28:15,920 Speaker 1: don't always pay off. Yeah, And there's nothing wrong with it. 414 00:28:15,960 --> 00:28:20,080 Speaker 1: I don't defame anyone from pursuing that if they want to. 415 00:28:20,160 --> 00:28:23,679 Speaker 1: I just don't think it's a necessity if you're quite 416 00:28:23,720 --> 00:28:29,200 Speaker 1: serious about making wonderful creative material. The business of creativity 417 00:28:29,359 --> 00:28:32,879 Speaker 1: is so you can't you can't plan for it, you can't, 418 00:28:33,359 --> 00:28:35,600 Speaker 1: you can't forecast it. You just can't. You know, you 419 00:28:35,680 --> 00:28:37,960 Speaker 1: just don't know what great idea is going to walk 420 00:28:38,000 --> 00:28:40,480 Speaker 1: in the door. And I would imagine is some of 421 00:28:40,520 --> 00:28:42,840 Speaker 1: that would you say Madman is kind of still in 422 00:28:43,000 --> 00:28:46,600 Speaker 1: North Star for a MC in terms of what's possible. 423 00:28:47,120 --> 00:28:49,240 Speaker 1: Oh yeah, I think I think. Look, I think it's 424 00:28:49,800 --> 00:28:52,760 Speaker 1: you know, they're a bunch of sort of north stars, 425 00:28:52,840 --> 00:28:57,920 Speaker 1: and you may find my list of both ambitious and 426 00:28:58,320 --> 00:29:01,280 Speaker 1: not in a certain sense. But so I think Madman 427 00:29:01,440 --> 00:29:04,160 Speaker 1: was a great experience in that because it was unlikely 428 00:29:04,760 --> 00:29:07,680 Speaker 1: and it was quiet, and it was left a big mark. 429 00:29:07,760 --> 00:29:12,640 Speaker 1: And I think, uh no, uh Weiner's a genius. And 430 00:29:12,640 --> 00:29:16,479 Speaker 1: I think that Vince Skillagan wrote a story that nobody 431 00:29:16,520 --> 00:29:21,240 Speaker 1: wanted to do and we did. And Better Call Saul, Yeah, 432 00:29:21,280 --> 00:29:23,800 Speaker 1: and and and Better Call Saul lives on And I 433 00:29:23,840 --> 00:29:31,600 Speaker 1: think is not a prequel that takes its invitation to 434 00:29:31,720 --> 00:29:35,760 Speaker 1: just slop the characters up there. I think it's breath taking, 435 00:29:35,840 --> 00:29:39,880 Speaker 1: lee different and ever more unlikely almost than Breaking Bad. 436 00:29:40,280 --> 00:29:44,720 Speaker 1: And so when when um Jim Gavin who goes to 437 00:29:44,720 --> 00:29:48,960 Speaker 1: a series of short stories about sort of a slacker 438 00:29:49,840 --> 00:29:54,120 Speaker 1: in southern California and teamed up with the producing team 439 00:29:54,120 --> 00:29:55,880 Speaker 1: of Paul Giamati who you know as an actor, and 440 00:29:55,960 --> 00:29:58,960 Speaker 1: Dan Carey. We thought the stories were wonderful and we 441 00:29:59,040 --> 00:30:03,120 Speaker 1: thought Jim gavin take on the world was very fresh. 442 00:30:03,160 --> 00:30:06,920 Speaker 1: And by the way, it is high risk because it's 443 00:30:06,960 --> 00:30:11,120 Speaker 1: a TV show that doesn't have the standard punches and 444 00:30:11,520 --> 00:30:17,640 Speaker 1: so but we're in love with doing it. I'm so 445 00:30:17,680 --> 00:30:20,120 Speaker 1: sorry forgive me. I'm as I'm acting as if you 446 00:30:20,160 --> 00:30:22,400 Speaker 1: and anyone who's listening knows everything I'm talking about. So 447 00:30:22,440 --> 00:30:25,120 Speaker 1: thank you for anchoring me to the world lodge for you. 448 00:30:26,240 --> 00:30:28,719 Speaker 1: Thank you so much, Cynthia. And but I think that 449 00:30:28,760 --> 00:30:33,080 Speaker 1: those and I think that those things, I actually think 450 00:30:33,160 --> 00:30:35,440 Speaker 1: people get it, you know what I mean. I think 451 00:30:35,600 --> 00:30:39,520 Speaker 1: people who watch television and when they watch a channel 452 00:30:40,560 --> 00:30:43,479 Speaker 1: are I'd like to think if you give them an 453 00:30:43,560 --> 00:30:48,840 Speaker 1: enormous amount of respect, they will understand if everything is 454 00:30:48,880 --> 00:30:53,400 Speaker 1: not a hit, but they will give you great credit 455 00:30:53,760 --> 00:30:58,040 Speaker 1: and reward and some things will be big and little 456 00:30:58,120 --> 00:31:02,200 Speaker 1: hits for being true to respect for them and respect 457 00:31:02,240 --> 00:31:04,920 Speaker 1: for story and respect for the craft. So I think 458 00:31:05,440 --> 00:31:09,640 Speaker 1: I think it's not only sort of purposeful and principled. 459 00:31:09,640 --> 00:31:12,760 Speaker 1: I think it's smart business. It's it's a good will 460 00:31:12,800 --> 00:31:15,400 Speaker 1: that that you build up with that audience that you 461 00:31:15,440 --> 00:31:17,960 Speaker 1: can then you know, I think it's true. I think 462 00:31:18,000 --> 00:31:22,800 Speaker 1: it's it's just what it is. What uh it is 463 00:31:23,840 --> 00:31:29,760 Speaker 1: the the the people who inter the world, the construction 464 00:31:30,120 --> 00:31:34,840 Speaker 1: that used to intermediate brands. I believe in a standard 465 00:31:34,840 --> 00:31:39,040 Speaker 1: marketing sense, meaning what's our talking points, what's our position? 466 00:31:39,120 --> 00:31:42,040 Speaker 1: On this. How are we going to bring this to market? 467 00:31:42,080 --> 00:31:47,440 Speaker 1: That disrespected people and believe that you could control the 468 00:31:47,520 --> 00:31:51,160 Speaker 1: outlet and the assessment I think is of a different time. 469 00:31:51,240 --> 00:31:54,480 Speaker 1: I think it's anachronistic, you know what I mean? Yeah, 470 00:31:54,560 --> 00:31:58,040 Speaker 1: But also the fact that you could sort of quote 471 00:31:58,040 --> 00:32:00,920 Speaker 1: position something and get people to leave a products not 472 00:32:01,040 --> 00:32:04,040 Speaker 1: good or good when in fact it's not good at 473 00:32:04,040 --> 00:32:07,120 Speaker 1: a time when the business is changing so much, What 474 00:32:08,440 --> 00:32:12,440 Speaker 1: where do you see am C going in the next 475 00:32:12,520 --> 00:32:15,840 Speaker 1: three to five years. Would you say continued obviously content 476 00:32:16,120 --> 00:32:20,360 Speaker 1: international is there? What would you say is your plan? Yeah? 477 00:32:20,400 --> 00:32:22,960 Speaker 1: So I can tell our plan is to um. The 478 00:32:23,080 --> 00:32:28,240 Speaker 1: plan is to walk and chew gum and by which 479 00:32:28,280 --> 00:32:32,640 Speaker 1: I mean that we will need to continue to make 480 00:32:32,680 --> 00:32:37,920 Speaker 1: great content that people like, uh and that is fundamental, 481 00:32:38,160 --> 00:32:41,560 Speaker 1: but we will need to be ever mindful of the 482 00:32:41,640 --> 00:32:47,880 Speaker 1: different manners with which people are engaging in screens and 483 00:32:48,080 --> 00:32:52,800 Speaker 1: interacting with the world of content. So, as I mentioned, 484 00:32:52,800 --> 00:32:59,040 Speaker 1: we moved from a cable channel paradigm to the US 485 00:32:59,080 --> 00:33:06,000 Speaker 1: international to added studio to international, and added commercial free 486 00:33:06,040 --> 00:33:09,920 Speaker 1: streaming to Studio to International, And we just launched the 487 00:33:09,960 --> 00:33:13,040 Speaker 1: game last week related to the world if They're Walking 488 00:33:13,080 --> 00:33:17,280 Speaker 1: Dead that had instant success and so and we have 489 00:33:17,360 --> 00:33:22,080 Speaker 1: these niche subscription services and the Shutter service just lost 490 00:33:22,200 --> 00:33:25,720 Speaker 1: by the way, uh four days ago, a podcast actually, 491 00:33:26,080 --> 00:33:29,960 Speaker 1: and a merchandise store. So so we will have to 492 00:33:30,040 --> 00:33:33,720 Speaker 1: undergo an evolution. But I think, like the best brands 493 00:33:34,520 --> 00:33:41,240 Speaker 1: that began in a media um that had uh commonly 494 00:33:41,280 --> 00:33:45,080 Speaker 1: referred to as digital incursion or competition, that can be 495 00:33:45,240 --> 00:33:49,200 Speaker 1: very challenging. I think the ability one needs to adapt. 496 00:33:49,240 --> 00:33:51,480 Speaker 1: You have to be adept at it and embrace it, 497 00:33:51,520 --> 00:33:54,280 Speaker 1: but you also have to have the good stuff that 498 00:33:54,400 --> 00:33:57,200 Speaker 1: allows you to embrace and adapt it and have people 499 00:33:57,240 --> 00:34:01,000 Speaker 1: follow you. That's the plan. If that wasn't too conceptual, 500 00:34:01,640 --> 00:34:04,920 Speaker 1: but and that's that's Those are lofty goals and hard 501 00:34:04,960 --> 00:34:07,200 Speaker 1: to achieve. But you know, you've had a pretty good 502 00:34:07,240 --> 00:34:10,160 Speaker 1: track record so far. My last question for you is 503 00:34:10,440 --> 00:34:13,320 Speaker 1: UM you do have AMC Networks does have a controlling 504 00:34:13,360 --> 00:34:16,839 Speaker 1: shareholder in the Dolan family. What do you think and 505 00:34:17,000 --> 00:34:19,680 Speaker 1: I'm sorry to ask to make talk for you. How 506 00:34:19,680 --> 00:34:22,200 Speaker 1: do you think that they're feeling about the landscape right now? 507 00:34:22,200 --> 00:34:24,400 Speaker 1: Do they like what they like the hand they have? 508 00:34:24,560 --> 00:34:27,439 Speaker 1: Do you think they would be amenable if somebody would 509 00:34:27,440 --> 00:34:30,880 Speaker 1: have called up big offer for I can't speak to them. 510 00:34:30,920 --> 00:34:35,480 Speaker 1: We take very seriously the idea that our job is 511 00:34:35,480 --> 00:34:38,200 Speaker 1: to provide return to shareholders. We do we we the 512 00:34:38,200 --> 00:34:42,920 Speaker 1: shareholders own the company. UM So that is a serious, 513 00:34:43,960 --> 00:34:47,760 Speaker 1: uh consideration of ours and not in any way off handed. 514 00:34:47,840 --> 00:34:49,880 Speaker 1: I believe that they own the company and we have 515 00:34:50,000 --> 00:34:54,799 Speaker 1: to reward them. Uh. So I can't speak for I 516 00:34:54,840 --> 00:34:58,760 Speaker 1: can't speak for the Dolans. We are um with every 517 00:34:58,840 --> 00:35:04,840 Speaker 1: fiber of our body and effort, attempting to execute the 518 00:35:04,880 --> 00:35:07,680 Speaker 1: plan that we formulated and adapt as we go forward 519 00:35:08,360 --> 00:35:12,239 Speaker 1: and um and we do see a pretty interesting and 520 00:35:12,360 --> 00:35:16,319 Speaker 1: rich horizon, uh if we can be successful in executing it. 521 00:35:16,640 --> 00:35:18,279 Speaker 1: So there's an awful lot of work to do to 522 00:35:18,320 --> 00:35:20,800 Speaker 1: execute that. I can't really give you a good answer 523 00:35:20,840 --> 00:35:24,920 Speaker 1: to the larger considerations, which is which would be their consideration. 524 00:35:25,480 --> 00:35:27,960 Speaker 1: It's all about the shows. It's all about the shows, 525 00:35:28,560 --> 00:35:30,480 Speaker 1: Jess say, Pan, thank you so much for your time. 526 00:35:30,480 --> 00:35:34,520 Speaker 1: It's always it's always really intellectually stimulating to talk to you. 527 00:35:34,520 --> 00:35:36,239 Speaker 1: And I mean that well. I thank you and thank 528 00:35:36,280 --> 00:35:39,879 Speaker 1: you for providing the proper name references so someone has 529 00:35:39,920 --> 00:35:43,080 Speaker 1: some chance of understanding what I was talking about. No problem, 530 00:35:43,120 --> 00:35:46,560 Speaker 1: we'll send them to the Internet. Thank you, okay, good, 531 00:35:46,640 --> 00:35:51,879 Speaker 1: thank you, thanks for listening. Be sure to join us 532 00:35:51,880 --> 00:35:54,560 Speaker 1: next week for another episode of Strictly Business.