{"id":518135,"date":"2022-11-29T23:48:19","date_gmt":"2022-11-29T20:48:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amc-networks-to-undergo-layoffs-as-ceo-exits-and-streaming-cant-offset-linear-tv-decline\/"},"modified":"2022-11-29T23:48:19","modified_gmt":"2022-11-29T20:48:19","slug":"amc-networks-to-undergo-layoffs-as-ceo-exits-and-streaming-cant-offset-linear-tv-decline","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amc-networks-to-undergo-layoffs-as-ceo-exits-and-streaming-cant-offset-linear-tv-decline\/","title":{"rendered":"#AMC Networks to Undergo Layoffs As CEO Exits and Streaming Can\u2019t Offset Linear TV Decline"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a50de538f9bb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a50de538f9bb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/amc-networks-to-undergo-layoffs-as-ceo-exits-and-streaming-cant-offset-linear-tv-decline\/#AMC_Networks_to_Undergo_Layoffs_As_CEO_Exits_and_Streaming_Cant_Offset_Linear_TV_Decline\" >AMC Networks to Undergo Layoffs As CEO Exits and Streaming Can\u2019t Offset Linear TV Decline<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"AMC_Networks_to_Undergo_Layoffs_As_CEO_Exits_and_Streaming_Cant_Offset_Linear_TV_Decline\"><\/span>AMC Networks to Undergo Layoffs As CEO Exits and Streaming Can\u2019t Offset Linear TV Decline<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Shortly after AMC Networks CEO Christina Spade abruptly stepped down after less than three months in the role, the company\u2019s chairman, James Dolan, sent a memo to staff on Nov. 29 forecasting \u201clarge-scale layoff as well as cuts to every operating area.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cIt was our belief that cord cutting losses would be offset by gains in streaming. This has not been the case,\u201d Dolan wrote, adding: \u201cWe of course realize that this will cause significant concern and anxiety for our employees and those who rely on AMC Networks for their livelihood. We do not take this lightly. We will take every step possible to minimize the impact of these actions on our community.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The company \u2014 home of such cable networks as AMC, IFC and Sundance TV, as well as such streamers as AMC+, Acorn TV and Shudder \u2014\u00a0didn\u2019t im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely provide details about the reasons behind the move and said it was finalizing the process of picking a successor. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Across its brands, AMC Networks has about 10.8 million subscribers and the expectation is that subs will be at 12 million by year end with a plan to reach 20 million to 25 million by 2025. But cord-cutting is accelerating. In the latest quarter, the largest pay-TV providers in the U.S. saw a loss of 785,000 net video subscribers, compared to a loss of 650,000 in the year ago period, per a Leichtman Research tally. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The CEO exit and layoffs <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> comes shortly after AMC\u2019s most-watched show,\u00a0<em>The Walking Dead,\u00a0<\/em>wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed its run as the basic cable network next looks to cash in with lucrative streaming and international sales for at least three spinoffs in the works featuring the franchise\u2019s most beloved stars. By bringing the flagship to a \u201cclose\u201d AMC voided decades-old streaming and international deals that were closed before the zombie drama became a global phenomenon. Still, revenue from future sales of\u00a0<em>TWD\u00a0<\/em>spinoffs won\u2019t be enough to keep the network and its myriad streaming services afloat as interest (and ad sales) in the franchise continue to shrink.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    AMC, in recent years, has turned to more foreign co-productions with short-order originals to remain competitive. The network faces a turning point moving forward after also bringing\u00a0<em>Breaking Bad\u00a0<\/em>prequel\u00a0<em>Better Call Saul\u00a0<\/em>and\u00a0<em>Killing Eve\u00a0<\/em>to their conclusions in 2022. Looking ahead, AMC has high hopes on its Anne Rice franchise with\u00a0<em>Interview With a Vampire\u00a0<\/em>already renewed and\u00a0<em>Mayfair Witches\u00a0<\/em>and\u00a0<em>Invitation to a Bonfire\u00a0<\/em>both due in 2023 along with multiple\u00a0<em>TWD\u00a0<\/em>offshoots and the new\u00a0<em>Orphan Black\u00a0<\/em>sequel,\u00a0<em>Echoes.\u00a0<\/em>Also look for the returns of\u00a0<em>Saul\u00a0<\/em>stars Bob Odenkirk and Giancarlo Esposito in\u00a0<em>Straight Man\u00a0<\/em>and\u00a0<em>The Driver\u00a0<\/em>at some point in the not too distant future.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Wall Street analysts were caught off guard by CEO Spade\u2019s abrupt exit. Amid the uncertainty, stock in AMC Networks tumbled by $1.24, or 6 percent, to $19.34 in mid-day trading. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Spade took the CEO role as of Sept. 9 and surprised investors with her early departure, even though her employment agreement runs through 2025. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Cowen analyst Doug Creutz called the news of Spade\u2019s exit \u201ca complete surprise,\u201d adding that it \u201cleaves the company in need of new leadership, with no apparent successor in the wings.\u201d While Creutz reiterated his \u201cmarket perform\u201d rating on the stock and $22 price target, he highlighted: \u201cNo rationale was given by the company for the exit, which leaves any number of potential reasons, both personal and operations-related. We expect this news to pressure shares unless and until the company finds new leadership and can reassure investors that Spade\u2019s exit was not related to any financial-related issues.\u201d <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n     \u201cWe thank Christina for her contributions to the company in her CEO role and her earlier CFO role, and we wish her well in her future endeavors,\u201d chairman Dolan said in a statement on Tuesday.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Dolan\u2019s memo to AMC employees is below: <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>AMC Networks Community:<\/em><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>As I am sure you are aware our industry has been under pressure from growing subscriber losses. This is primarily due to \u201ccord cutting.\u201d At the same time we have seen the rise of direct to consumer streaming apps including our own AMC+. It was our belief that cord cutting losses would be offset by gains in streaming. This has not been the case. We are primarily a content company and the mechanisms for the monetization of content are in disarray.\u00a0<\/em><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>It is for that reason that myself and the Board of Directors of AMC Networks have concluded that we as a company need to conserve our resources at this time. We have directed the executive leadership of AMC Networks to undergo significant cutbacks in operations. These will include a large-scale layoff as well as cuts to every operating area of AMC Networks. We of course realize that this will cause significant concern and anxiety for our employees and those who rely on AMC Networks for their livelihood. We do not take this lightly. We will take every step possible to minimize the impact of these actions on our community. However, it is imperative that we begin immediately with this new course of action.\u00a0<\/em><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>The Dolan Family and the Board of AMC Networks have great pride in the company and products that you have created. This is a confusing and uncertain time in our industry. We are confident that AMC Networks will come through this even stronger. Your executive leadership will follow up with details shortly. We wish only the best for everyone in the AMC Networks community.<\/em><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>Sincerely,<br \/>James Dolan \u00a0<\/em><\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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