Streaming services are not looking as profitable as they once were.
Since the beginning of cinema, filmmaking has always been a collaborative art form that made money through people paying to have a shared experience together. Nothing could genuinely compete with the theatrical experience. That is, until streaming services emerged supreme.
The pandemic brought a hard truth to Hollywood that people enjoy staying in and watching films from the comfort of their couches. Many studios and networks tried to adapt, looking for new ways to stay relevant in the age of streaming while making a notable profit. Unfortunately, the streaming bubble looks like it’s about to pop, and some networks can’t stay afloat, meaning only one thing—layoffs.
AMC Networks is about to become the latest company to undergo “large-scale layoffs,” according to IndieWire. According to a memo sent from AMC’s parent company MSG Entertainment CEO James Dolan, the decision to lay off employees is due to subscriber losses from the cancellation of cable bundles in favor of streaming.
Author: Alyssa Miller
This article comes from No Film School and can be read on the original site.
