NEW YORK (CelebrityAccess) After literally decades of fascination with zombies – from TV shows to movies to video games to bar crawls to live, touring interactive arena events – there appears to finally be a sign that the world is moving on and leaving the undead behind.
AMC Networks stock has dropped 10 percent over the last week, with a 7 percent drop yesterday after Sunday’s season nine premiere of its flagship television series, “The Walking Dead.” The normally tent-pole broadcast saw a whopping 47 percent drop in total views, and a 50 percent drop in the essential 14-49 demo, compared with last year’s premiere, according to Deadline Hollywood. Those numbers haven’t been seen since 2011.
Goldman Sachs downgraded AMC to a sell from a neutral rating last week and, this morning, Guggenheim’s Michael Morris cut his 12-month price target from $60 to $58 and lowered estimates for advertising revenue, according to Deadline. The stock, however, has gained 15 percent overall this year.
Morris did not put the blame squarely on “The Walking Dead,” however, noting that “the live television audience continues to age.” He estimated 18-49 viewership Sunday was 53 percent of the total audience, down from 55 percent from the season eight premiere and 66 percent from season three.
AMCX stock is currently up for the day at $60.66, but less than the approximate $65 high of recent days and the 52-week high of $69.02.