But we took a look at shows this were — which when we took a look at our covered. We have to kind of pull out things that weren’t maybe as on brand or on strategy as some others, and this happened both across linear and streaming and across channels as well. So it was really, we looked across the entire portfolio. We also reduce, some of our, spend on the international side as well. In terms of skew linear versus streaming, I would say, we’ve given the fact that we’ve got some of these smaller streaming platforms that we can still invest capital into and grow nicely. We protected those to a degree. So we’d like those businesses will continue to invest there for growth, profitable growth. And we liked our programming level at AMC and AMC+. It’s fair to say that maybe a slight skew towards ensuring that the monetization of the programming is front and center, and so maybe a tinge less exclusive programming on AMC+, as we recalibrate the business for profitability.
But that being said, all we’re trying to do is be as thoughtful as possible about the winning of the content and really kind of sweating the assets that we have. And that’s kind of the game plan.
Thomas Yeh: It’s very helpful. Thank you both.
Operator: Thank you. And one moment for our next question. And our next question comes from a line of Robert Fishman with MoffettNathanson. Your line is open. Please go ahead.
Robert Fishman : Hi. Good morning. Jim, can you help us think about how you see the future of this company? There’s obviously been a lot of press reports about possible M&A scenarios over the past couple of years. Do you prefer to see AMC Networks as a standalone entity in a few years or rather combined with another strategic partner? And I have a follow-up. Thank you
James Dolan : That — well, look, I think that our first concern is always going to be creating value for our shareholders. So what form that comes in is, it could be stay the course, it could be an M&A a strategic transaction, that the very honestly we’re much open to all those ideas. But right now, we have the company that we have and we’re trying to guide it through as if it was — it’s going to remain a standalone that the — but that doesn’t mean that we won’t consider M&A and see if we can improve the shareholder value that way. So I think that kind of answers it.
Robert Fishman : Yes. Thank you. And for Patrick, you guys talked about these recent MVPD renewals. I’m just wondering in the context of shifting to this retailer mentality, how should we think about the impact of these renewals on future affiliate fee revenue growth and given the accelerated level of cord cutting? Can we expect pricing to offset any of the cord cutting, or are there other revenues as part of the negotiations with these renewals that can offset traditional affiliate fee decline?
Patrick O’Connell: Thanks, Robert. Look, we have very long standing relationship with our affiliate partners. They’ve been profitable partnerships for both parties for decades now. As I mentioned earlier, we continue to invest heavily in premium content. We think we punch way above our weight, not just in terms of the relevance of the content itself, but frankly, the value for money that our content delivers to our distributors. So obviously, you’ve taken note of the fact that, we’ve had half a dozen renewals here. We feel really good about these relationships. These relationships continue to expand and grow as many of the larger distributors are now distributing our AMC+ apps, other apps on their platforms. We think this is a win, win for us, for them, for consumers.
