Tag: cost-cutting

Warner Music Group is cutting approximately $300 million in costs, including $170 million via layoffs, as part of a restructuring plan aimed at "future-proofing" the company and boosting investment in music. CEO Robert Kyncl emphasized a renewed focus on A&R…

Disney has laid off several hundred employees as part of ongoing efforts to "enhance efficiency," targeting mid-level roles across marketing, development, and finance. These cuts are not just cost-saving but reflect deeper structural changes driven by the collapsing cable model,…

Paramount booked a $152M Q1 profit and narrowed streaming losses, with Paramount+ subscriptions hitting 79M, but the real story is strategic stabilization ahead of a potential Skydance merger. Streaming growth came from familiar hits, cost-cutting helped improve margins, and Pluto…

Paramount Global is restructuring its distribution teams ahead of its 2025 merger with Skydance Media, integrating streaming and TV networks distribution. The move includes layoffs and follows broader cost-cutting efforts to save $500 million annually. Key executive Jeff Shultz will…

Netflix has closed its Southern California AAA game studio, which had not yet released any titles. The move is part of a broader effort to cut costs while still investing in video games tied to its popular series. Despite the…

Paramount Global may drop Nielsen due to rising costs ahead of a contract deadline, with plans to switch to VideoAmp if no deal is reached. This comes amid Paramount's efforts to cut costs, including a 15% workforce reduction and potential…

Paramount+ has laid off staff as part of Paramount Global’s 15% workforce reduction, impacting marketing and communications teams, including senior executives with over 30 years of combined experience. These layoffs, part of a broader cost-saving initiative aimed at cutting $500…

Variety looks into Warner Bros. Discovery's myriad of challenges including legal battles, ad sales conflicts, and declining morale at CNN, while struggling to maintain relationships with key stakeholders like advertisers and sports leagues. WBD's financial health, impacted by a $9.1…

TheWrap looks at how legacy media companies are inching toward streaming profitability through cost-cutting, bundling, ad tiers, and price hikes, though challenges remain. Disney posted its first combined streaming profit, with ESPN+ leading the charge, while Paramount+ and Warner Bros.…

Warner Bros. Discovery executives have opted against splitting the company, choosing instead to sell smaller assets like Polish broadcaster TVN and a stake in its video game division to manage $39 billion in debt. The decision follows a 67% decline…