MGM announced this week that it expects a 40% decline in earnings in 2019 as it invests in its Epix Now streaming service.
The company said in February that it would launch Epix Now at $5.99 per month, joining other premium channels that have already rolled out over-the-top services. In order to attract subscribers, Epix is rolling out a slate of original programming to accompany its traditional movie offerings.
MGM co-founded Epix with Viacom and Lionsgate in 2008, and bought out the other two partners in a $1 billion deal in 2017. In an earnings call on Tuesday, MGM executives said Epix is projected to lose $50 million to $70 million this year as MGM invests in content to grow the service.
The delay of “Bond 25” to April 2020 has also put a damper on this year’s projections. The next installment of the Bond franchise was initially set to debut in November 2019, but was pushed back when...
The company said in February that it would launch Epix Now at $5.99 per month, joining other premium channels that have already rolled out over-the-top services. In order to attract subscribers, Epix is rolling out a slate of original programming to accompany its traditional movie offerings.
MGM co-founded Epix with Viacom and Lionsgate in 2008, and bought out the other two partners in a $1 billion deal in 2017. In an earnings call on Tuesday, MGM executives said Epix is projected to lose $50 million to $70 million this year as MGM invests in content to grow the service.
The delay of “Bond 25” to April 2020 has also put a damper on this year’s projections. The next installment of the Bond franchise was initially set to debut in November 2019, but was pushed back when...
- 4/11/2019
- by Gene Maddaus
- Variety Film + TV
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