The article delves into the challenges faced by media giants such as Warner Bros Discovery and Paramount Global amid declining linear TV viewership. Warner Bros Discovery is restructuring by splitting its streaming operations from traditional television networks in a bid to enhance investor value. Meanwhile, Paramount has announced layoffs affecting 3.5% of its US workforce, which follows previous cuts due to ongoing linear TV declines. Additionally, the UK government is evaluating new restrictions on children's social media usage, proposing caps on daily usage and evening curfews to protect youth online.
The restructuring aims to unlock shareholder value and create more focused growth strategies for each business, reflecting a broader industry trend towards separating digital from linear operations.
Meanwhile, Paramount Global is implementing another round of layoffs; its execs stated, 'As we navigate the continued industry-wide linear declines and dynamic macro-economic environment, we are taking necessary steps to streamline our organisation.'
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