AMC+ to cease streaming service in India Feb 2024
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3 months ago 06:00:01am Television

AMC+ to cease streaming service in India Feb 2024

New Delhi, 04-December – 2023, By IBW Team

AMC+ to cease streaming service in India Feb 2024

Premium streaming service AMC+, which is available as part of the channel services on Apple TV and Prime Video, will cease its services in India from February 2024.

AMC+ first launched in India as an Apple TV channel on the Apple TV app in March 2022 and later was made available on Prime Video Channels too.

According to a mail from Amazon Prime Video, seen by Indianbroadcastingworld.com, “We are writing to let you know that AMC+ will cease its service in India and as a result AMC+’s content catalog will no longer be available on Prime Video Channels with effect from February 6, 2024.”

AMC+ is owned and operated by AMC Networks, which also manages services like We TV, Sundance TV and the art house movie theater IFC Center in New York City. Its parent is the US’ largest theatrical exhibition company, AMC Entertainment, which, according to media reports, has been facing some financial problems.

The Prime Video mail added that existing subscribers of AMC+  would get a refund if their subscription period extended beyond February.

“If your AMC+ subscription is active beyond February 6, 2024 then a pro rata refund will be issued by Prime Video Channels to the original payment method you used to subscribe toAMC+. We endeavour to process refunds in seven to ten business days,” the Prime Video statement added.

AMC+ features exclusive original series, including the high-octane vampire thriller ‘Firebite’ with Yael Stone of ‘Orange is the New Black’ fame; hit stop-motion animated comedy ‘Ultra City Smiths’ featuring all-star voice talent including Kristen Bell, Dax Shepard (‘Parenthood’), John C. Reilly (‘Winning Time: The Rise of the Lakers Dynasty’) and Debra Winger (‘Terms of Endearment’) and films like ‘Nitram’, among many other popular series.

 While AMC+ parent AMC Entertainment, according to a Reuters report on November 8, 2023, beat third-quarter revenue estimates, riding on the success of ‘Barbie’ and ‘Oppenheimer’ movies as volumes of theatrical releases also improved at the box office, other media reports said it still needed cash to finance its various projects.

The movie theater chain posted revenue of $1.41 billion for the quarter ended September 30, compared with estimates of $1.26 billion, according to LSEG data, Reuters stated.

However, the Investopedia.com on November 9 reported that the AMC Entertainment Holdings shares plunged after the struggling movie theater chain announced another stock sale to raise needed cash.

AMC, as per the report, indicated it would be putting up as much as $350 million worth of its Class A shares in an “at the market offering,” intending to use the money raised “to bolster our liquidity, to repay, refinance, redeem or repurchase our existing indebtedness (including expenses, accrued interest and premium, if any) and for general corporate purposes.”


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