A painful halt: If you work in film and TV, get ready for layoff

A multiyear boom in film and TV production, driven by media firms racing to sign up subscribers for their new streaming services, has come to a painful halt

film industry
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A multiyear boom in film and TV production, driven by media companies racing to sign up subscribers for their new streaming services, has come to a painful halt, giving way to firings, introspection and hand-wringing

Christopher Palmeri | Bloomberg
Warner Bros. Discovery said this week it’s sacking 100 TV ad salespeople, Paramount Global acknowledged it may stop offering Showtime as a standalone streaming service, and Netflix, an industry gravy train for the last decade, announced yet-another round of layoffs.
 
A multiyear boom in film and TV production, driven by media companies racing to sign up subscribers for their new streaming services, has come to a painful halt, giving way to firings, introspection and hand-wringing. While much of the country only worries about a recession, major media companies are cutting jobs or consolidating. Their stock prices have collapsed.

“The

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First Published: Sep 20 2022 | 10:47 PM IST

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