Following AMC Networks’ ’pop-up‘ co-exclusive licensing deal with Warner Bros. Discovery last year, which saw select titles available on Max for two months, the US network inked a new deal which sees an expanded bundle of AMC titles available ad-free on Netflix (regardless of subscription tier) for 12 months from August 2024 onwards. 

Five of the seven shows that featured on Max are also included in the Netflix deal, with Dark Winds and Fear the Walking Dead also including new seasons. These are joined by eight additional titles, bringing the total to 13 – with a further two titles slated to become available in January 2025.

While co-exclusive licensing is a newer trend within streaming strategies, AMC and Netflix have a history of collaboration. AMC’s crime drama Breaking Bad was one of the first shows to benefit from the phenomenon now known as “The Netflix Effect” – a significant boost in popularity and viewership for a title driven by the significant reach of Netflix’s subscriber base. 

The partnership has continued over the years, with other AMC shows such as Better Call Saul and The Walking Dead reaching global audiences through Netflix’s distribution. This partnership continues to be significant for Netflix, with global viewing data revealing The Walking Dead as the 3^rd most watched TV show on Netflix in 2023 – with 1.3bn hours viewed across all its seasons.

Ampere noted in September 2023 that five of the seven AMC titles brought to Max saw a rise in popularity in the US. This pattern has repeated with the Netflix deal: 11 of the 13 newly added shows saw increased popularity from July to August 2024, with nine of those also experiencing further gains in September. This uptick in popularity is encouraging for AMC, which will be hoping the renewed interest will translate into increased viewership for new seasons of content debuting on its own platforms and channels. The decision to delay the Netflix release of two titles within the Walking Dead franchise (Dead City and The Ones Who Live) until January 2025 points towards a targeted effort to increase interest just before the premiere of Dead City: Season 2 in Spring 2025.

These licensing agreements also serve to demonstrate how older content can be revitalized by reaching new audiences. Many of the AMC shows included in this deal have concluded, but their introduction to Netflix’s audience is sparking fresh interest.  This comes as Netflix has been expanding its content library through a series of strategic licensing deals, acquiring shows from rival platforms such as Max (Band of Brothers), Peacock (Suits) and most recently Hulu (Lost). 

As the streaming landscape evolves, exclusivity is taking a back seat to profitability, with effective content monetization a primary goal. While Netflix has leaned heavily on its original programming in the era of streaming’s “walled gardens”, it is now seizing opportunities to bolster its content offer through licensing deals as the industry overall embraces more content-sharing.