Paramount is laying off 15 percent of its US workforce, according to reporting by Deadline. This follows a lean second quarter earnings report in which total revenue fell short from an expected $7.21 billion to $6.81 billion. The layoffs will impact around 3,000 people. “The industry continues to evolve, and Paramount is at an inflection point where changes must be made to strengthen our business,” company CEOs wrote in a staff memo. Paramount representatives say these cuts will happen in three stages, with layoffs beginning today and 90 percent of all cuts being completed by the end of September. The layoffs will primarily impact employees involved in marketing and communications, though the company’s legal and finance arms will also face cuts. Paramount already laid off three percent of its workforce back in February, and this was after a three percent increase in revenue growth that was largely credited to its streaming and film businesses. So, a three percent increase of revenue translated to a three percent reduction of Paramount’s workforce and missing revenue expectations by around four percent is leading to layoffs accounting for 15 percent of company employees. Workers can’t catch a break. All of these layoffs are likely being used to clear the runway, so to speak, for the forthcoming merger with Skydance. The merger was announced back in June and will soon head to the regulatory review process. Paramount has also been raising prices for its streaming service... Continue reading at 'Engadget'
[ Engadget | 2024-08-13 15:31:20 UTC ]
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Paramount Pictures has optioned film rights for the Ology World series published by Templar, an imprint of Kings Road Publishing. Continue reading at The Bookseller
[ The Bookseller | 2018-02-08 00:00:00 UTC ]
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Revenue from third-party platforms represented 16 percent of publishers' total digital revenue in the first half of 2017 -- nearly unchanged from a year earlier. The post Google and Facebook make up less than 5 percent of publishers’ digital revenue appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-02-08 00:00:00 UTC ]
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Figures from OpenBook's 'Reading X' conference show that promising growth for the market, including a big uptick in online book sales in 2017. The post OpenBook Managing Director Cites 14.55 Percent Growth in Chinese Book Market appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2018-01-31 00:00:00 UTC ]
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With figures from OpenBook's 'Reading X' conference earlier this month, we learn that online book sales in China grew 28.82 percent in 2017, year over year, and brick-and-mortar bookstores were seen to erase the previous year's modest losses. The post China’s Bestsellers for 2017: OpenBook Cites... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2018-01-31 00:00:00 UTC ]
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Brand safety, once shorthand for making sure your banner ad isn’t served alongside vulgar content, has become one of digital media’s most pressing issues. Brands are more concerned than ever with how they are perceived online, while platforms struggle with how to police user-generated content... Continue reading at Digiday
[ Digiday | 2018-01-29 00:00:00 UTC ]
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The Awl shuts its doors, Hanley Wood expands its data offerings, Cole Publishing acquires several Grand View titles, and more from around the industry. The post Hearst To Lay Off 145 Former Rodale Staffers | Industry Notes appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2018-01-17 00:00:00 UTC ]
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Two of the five top sellers in 2017 in Canada were backlist, which was up 2 percent over 2016. Print unit sales fell 4 percent, value down 3 percent. The post BookNet Canada Sees Print Sales Decline in 2017, Backlist Accounts for 60 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2018-01-17 00:00:00 UTC ]
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This week: Denis Johnson's short story collection, destined to be a classic, plus a history of the heart in 11 operations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-01-12 00:00:00 UTC ]
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Harper Voyager signs its first memoir, Berkley buys a dystopian novel being compared to The Handmaid’s Tale, and more in this week's notable book deals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-01-12 00:00:00 UTC ]
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Naomi Alderman’s ‘The Power,’ named to many “best of 2017” lists, is boosted onto our hardcover fiction list. Plus the movie tie-in edition of ‘Call Me By Your Name’ makes its first appearance on our lists, and former CPA Jesse Mecham explains why ‘You Need a Budget.’ Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-01-12 00:00:00 UTC ]
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In a fast start, Metabooks Brasil has brought more than 50,000 titles onto its platform with the top booksellers in Brazil and more than 70 publishers. The post Metabooks Brasil Achieves 20-Plus Percent of Available Titles in Six Months appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-12-20 00:00:00 UTC ]
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Insight Editions’ niche is to create literary portals for fans of various actors, musicians, and authors—and it's cornered its market. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-12-15 00:00:00 UTC ]
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At the Digiday Publishing Summit Europe in October, we sat down with 35 industry leaders from across the continent and drilled down into two hot topics, ePrivacy and the General Data Protection Regulation. We asked their feedback on and expectations for the coming changes. Check out our earlier... Continue reading at Digiday
[ Digiday | 2017-12-11 00:00:00 UTC ]
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The British Library’s 'truly exceptional' chief librarian, Caroline Brazier, will be stepping down from her role next year after deciding to take early retirement. Continue reading at The Bookseller
[ The Bookseller | 2017-12-07 00:00:00 UTC ]
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ESPN is laying off about 150 employees, including people who work in studio production, digital content and technology, the sports company said Wednesday. The cuts, which are the latest sign of the financial pressures the Bristol, Conn.-based operation faces, follow a round of layoffs in April... Continue reading at Los Angeles Times
[ Los Angeles Times | 2017-11-30 00:00:00 UTC ]
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Digital media company BuzzFeed said it is laying off 8% of its U.S. employees, or 100 workers, as it changes its business model in a bid to boost revenue. It's also cutting an unspecified number of jobs in Britain. The company has 1,700 employees worldwide. A spokeswoman for New York-based... Continue reading at Los Angeles Times
[ Los Angeles Times | 2017-11-29 00:00:00 UTC ]
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European publishers are twice as likely as U.S. publishers to have laid off staff or plan to do so to support their pivots to video. The post Digiday Research: 33 percent of European publishers report layoffs to support the pivot to video appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-11-23 00:00:00 UTC ]
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A Texas bookstore launches a series for rejected stories; professors protest their college bookstore; a Bucharest bookseller gets back to business; and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-11-15 00:00:00 UTC ]
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European publishers are building audiences on Snapchat, but they think it offers the worst revenue return among major video players. The post Digiday Research: 3 percent of European publishers believe Snapchat offers the best revenue returns appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-11-10 00:00:00 UTC ]
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Books from 15 countries have received PEN Translates awards in the latest round of grants for translation, with Ros Schwartz, co-chair of the award panel, saying publishers are becoming "increasingly adventurous" in their choices. Continue reading at The Bookseller
[ The Bookseller | 2017-11-10 00:00:00 UTC ]
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