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AMC Networks Extends Content Chief Dan McDermott's Contract Through End Of 2028
Deadline· 2025-11-20 23:17
Group 1 - AMC Networks has extended the contract of Chief Content Officer Dan McDermott through the end of 2028, with a base salary of $1.625 million per year and additional cash grants and equity awards expected to be around $1.6 million annually [1] - AMC Networks is facing challenges due to cord cutting and declining viewership and advertising on traditional linear TV, prompting a shift towards streaming with a total of 10.4 million subscribers across niche properties like Shudder, AMC+, and AcornTV [2] - Streaming is anticipated to surpass linear TV in annual revenue, although the economic models for streaming are still being developed [2] Group 2 - McDermott has been instrumental in developing popular franchises such as the Anne Rice and Walking Dead universes, as well as the anthology mystery Dark Winds [3] - AMC Studios has also produced content for third parties, including the show Silo for Apple TV [3] - Prior to AMC Networks, McDermott held significant roles in various production companies, including Lionsgate-BBC Studios and DreamWorks, where he oversaw notable shows like Spin City and Band of Brothers [4]