‘I am a builder at heart’: AMC Networks CFO is also the new COO

“I have come to realize that I am a builder at heart. I enjoy collaborating across the organization to bring many different viewpoints together and then synthesize the best approach to move forward.”

That’s what Christina Spade, AMC Networks CFO and new chief operating officer (COO), told me. The global entertainment giant announced on Monday that Spade’s dual role is “effective now, and our team will continue to evolve in important ways,” she says. Longtime COO Ed Carroll decided to step down after a 34-year tenure with the company, AMC Networks announced in September. Carroll was named COO in 2009.

As CFO and COO, Spade will lead the operating oversight of the company’s key businesses, such as AMC Networks International, and also continue to helm financial operations, investor relations, and global technology. Based in New York, she will continue to report to AMC Networks Interim CEO Matt Blank.

Courtesy of AMC Networks

Spade’s top priority in the COO role is to “continue our successful pivot to streaming and significantly grow our streaming services to 20-25 million subscribers, with our focus on quality and targeted content offerings; and to closely work with the talented AMC Networks team to drive our growth,” she says.

At the onset of the pandemic in 2020, as productions stopped, AMC Networks was forced to make a fast pivot. The company leaned into its streaming platform much faster than it could have imagined pre-pandemic, Spade said in May during a virtual CFO Collaborative event put on by Coins2Day and Workday. By mid-2020, the company surpassed its streaming projections for all of 2021, she noted in May. Subscription revenue increased 14% in Q3 of 2021, driven by streaming revenue growth.

The exec began her CFO role at AMC Networks in January. Spade previously served as CFO for the newly combined ViacomCBS and held CFO positions at CBS Corporation and Showtime Networks Inc., where she spent more than 20 years. Taking on the COO role is an expansion of operational leadership knowledge gained throughout her career, Spade says.

“I feel that my media experience in various stages of company growth and maturity has enabled me to appreciate the needs of each facet of business and operate accordingly,” she explains. “To truly be successful, you need collaboration and communication across the team.” 

And collaboration and communication among departments and stakeholders are pivotal to the CFO role now more than ever, according to research. I asked Spade how she sees the role of finance chief continuing to evolve. 

“It is increasingly important to be strategic as a CFO,” she says. “It allows a certain nimbleness and ability to pivot and set and continually adjust priorities across the teams and the company. We are in an important period of transformation at AMC Networks, and nimbleness is a key ingredient for our future success.”

As CFO and COO, Spade will be central in the transformation to a technology-driven content company. But success depends largely on the satisfaction and growth of “content fans,” she says. Spade predicts that “2022 will be our biggest content year yet,” with shows including The Walking Dead franchise, the return of Better Call Saul and Killing Eve, and “strong new series” like Interview with the Vampire, she says. 

Quick note: In observance of the Thanksgiving holiday, the next CFO Daily will publish on Monday, Nov. 29. I’m grateful for your readership.

Sheryl Estrada
[email protected]

Big deal

The most recent installment of StreetWise, the E-Trade quarterly tracking study of experienced investors, released on Nov. 22, found young investors feel confident in their finances. About 93% of investors under the age of 34 said they're financially prepared for the holiday season. The survey also found that 63% are worried about inflation, up 9 percentage points from last quarter. However, to fund holiday spending, 74% of Gen Z and millennial investors said they would withdraw more funds from their investment portfolios. The findings are based on an online U.S. Sample of 901 self-directed active investors who manage at least $10,000 in an online brokerage account, according to E-Trade.

Courtesy of E-Trade

Going deeper

Leaderboard

Angelia Hrytsyshyn was named CFO at mPhase Technologies, Inc. (OTC Pink: XDSL), a tech company developing the mPower 5G-enhanced electric vehicle, effective Nov. 22. Hrytsyshyn will oversee the global financial operations for the company. She has 17 years experience in financial and accounting roles. Hrytsyshyn previously served as treasurer of American Trading and Production Corporation/Atapco Properties, a commercial real estate development company. Prior to senior positions in the real estate field, she held various financial roles at Constellation (a subsidiary of Exelon). Other prior experience includes senior associate, SEC External Reporting for PHH Corp., and senior associate, SEC Audits for PwC.

Pierre Labbé, CFO at IMV Inc. (NASDAQ: IMV; TSX: IMV), a clinical-stage biopharmaceutical company, will retire on March 31, 2022. The company has retained an executive search firm and Labbé will continue to consult with IMV to support the transition after his retirement.

Hai Tran was named EVP and CFO at CSG (NASDAQ: CSGS), which provides business support systems software and services, effective Nov. 29. Tran will succeed Rolland “Rollie” B. Johns, who has announced plans to step down. Tran brings 30 years of finance and business experience to the role. He most recently served as president and COO at Soc Telemed, a provider of acute care telemedicine services. Prior to that, Tran has served as CFO at a number of companies including Soc Telemed, BioScrip, Inc., Harris Healthcare Solutions, and Catalyst Health Solutions.

Overheard

"Well, I don't intend to be sassy on Twitter... In his tweet he said I am shady. I am not aggressive by nature, but not submissive or cowardly when it comes to defending our business." 

—Binance founder and CEO Changpeng Zhao on a recent Twitter exchange with Tesla CEO Elon Musk, as told to Yahoo Finance Live.