As of February 2025, “The Walking Dead” television series concluded with its 11th season in November 2022, wrapping up the main storyline of the original series. There is no official Season 12; however, the franchise has expanded through various spin-offs and miniseries that continue to explore the universe and its characters.
Franchise Expansion and Spin-offs
Following the conclusion of the main series, AMC has developed several spin-offs to delve deeper into the lives of beloved characters:
- “The Walking Dead: The Ones Who Live”: This miniseries focuses on the characters Rick Grimes and Michonne, portrayed by Andrew Lincoln and Danai Gurira, respectively. The series explores their continued search for each other after their separation in earlier seasons. With a total budget of $82 million, the per-episode cost is approximately $13.7 million, reflecting the high production values and the significant salaries of its leading actors. wrestlesite.com
- “The Walking Dead: Daryl Dixon”: This series follows Daryl Dixon, played by Norman Reedus, as he embarks on adventures in France and Spain. The show explores new territories and cultures within the post-apocalyptic world, expanding the narrative beyond the original setting.
Production Budget and Financial Overview
Throughout its run, “The Walking Dead” was known for its substantial production budgets, which contributed to its high-quality special effects, makeup, and set designs. In its early seasons, the show had an estimated production cost of approximately $3 million per episode. As the series progressed and its popularity soared, production costs increased, with later seasons averaging around $3.5 million per episode.

The franchise’s expansion into spin-offs has seen even higher budgets. For instance, “The Walking Dead: The Ones Who Live” has set a new budget record for the franchise, with a total of $82 million for the series, translating to about $13.7 million per episode. This significant investment indicates AMC’s commitment to maintaining the franchise’s quality and meeting audience expectations.
In terms of financial success, “The Walking Dead” franchise has been a monumental asset for AMC. As of 2024, the franchise’s net worth is estimated to be over $1 billion. This valuation encompasses various revenue streams, including advertising, merchandise sales, streaming rights, and international distribution deals. The show’s global popularity has solidified its status as one of the most valuable franchises in television history.
Narrative Developments and Character Arcs
While there is no Season 12, the narrative continues through the aforementioned spin-offs:
- Rick and Michonne’s Journey: “The Walking Dead: The Ones Who Live” delves into the complex relationship between Rick and Michonne. After being separated for years, both characters embark on perilous journeys, driven by the hope of reuniting. The series explores themes of love, survival, and the enduring human spirit amidst the chaos of a zombie-infested world.
- Daryl’s European Expedition: In “The Walking Dead: Daryl Dixon,” Daryl finds himself in Europe under mysterious circumstances. Navigating unfamiliar territories, he encounters new groups of survivors and faces unique challenges posed by the different environment. This series offers fresh perspectives on the apocalypse, highlighting cultural differences and the universal struggle for survival.
Conclusion
While “The Walking Dead” series concluded with its 11th season, the universe continues to thrive through various spin-offs and miniseries. These expansions not only satiate the audience’s desire for more content but also explore uncharted territories within the narrative, ensuring the franchise’s enduring legacy in television history.