AMC Networks Snaps up Anime Distributor Sentai

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AMC Networks Inc. (NASDAQ: AMCX) has acquired leading global anime distributor Sentai Holdings, LLC, well known for its direct-to-consumer anime platform HIDIVE. The financial terms of the deal have been kept under wraps.

AMC Networks is the global leader in targeted streaming. It owns and operates the cable channels AMC, IFC, We TV and Sundance TV; the art house movie theater IFC Center in New York City; and certain independent film companies.

Benefits of the Deal

Japanese anime is a fast-growing entertainment category, with a huge fan following globally.

Sentai is a key global supplier of anime content with a seasoned team, strong content and direct-to-consumer offerings. Its brands include the anime-focused HIDIVE direct-to-consumer subscription streaming service.

With its content available on Crunchyroll, Hulu, and Amazon Prime, etc, Sentai distributes and curates one of the anime industry’s most diverse libraries of top-trending and classic titles.

The addition of Sentai’s HIDIVE streaming service will enhance AMC Networks’ existing portfolio of robust targeted offerings and strengthen its leadership position in targeted streaming. Furthermore, it will increase the scale and reach greater audiences around the world.

AMC Networks projects its targeted streaming portfolio to acquire more than 9 million paid subscribers by year-end 2021. Furthermore, it expects the paid subscribers base to grow to 20-25 million by 2025.

Management Weighs In

AMC Networks Interim CEO, Matt Blank, commented, “This acquisition builds on AMC Networks’ already strong IP and franchises, and furthers our targeted streaming strategy of super-serving passionate audiences with content depth, curation and community.”

He further added, “With the addition of Sentai, we see an even greater opportunity to build on AMC Networks’ position as the global leader in targeted streaming, as we continue to grow a sustainable and long-term profitable streaming business that will be transformational for our company.”

Analysts Recommendation

Overall, the stock has a Hold consensus rating based on 3 Holds. The average AMC Networks price target of $47 implies 21.87% upside potential from current levels.

Investors Weigh In

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on AMC Networks, with 10.3% of investors increasing their exposure to AMCX stock over the past 30 days.

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