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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Investors seemed unimpressed but analysts say even talk of a merger reflects moves to consolidate in a tough market Barbie and Tom Cruise’s Top Gun are planning on getting hitched. Warner Bros Discovery, the Hollywood studio that brought us the Batman, Harry Potter and Barbie films, and... Continue reading at The Guardian
[ The Guardian | 2023-12-21 17:19:19 UTC ]
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US trade revenue was down 0.1 percent year-to-date, and down 0.4 percent for the month of September YTD, in the AAP's StatShot report. The post AAP’s September StatShot: US Book Market Up 0.8 Percent YTD appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-12-12 16:24:19 UTC ]
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Depending on what you buy and where you shop, many online purchases should arrive before December 25th, so if you're still working through your gift list, it might not be too late. Even if you're just looking for deals in general, there are plenty out there. Despite the fact that the official... Continue reading at Engadget
[ Engadget | 2023-12-08 17:45:42 UTC ]
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Books once included in Scholastic's optional Share Every Story, Celebrate Every Voice collection, along with additional books with inclusive content, will become part of regular book fair shipments next year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-12-04 05:00:00 UTC ]
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The Audio Publishers Association's Michele Cobb sees a steady gain by audiobooks in the United States' publishing marketplace. The post APA: Audiobooks’ US Share Up 5 Percent, 2017 to 2022 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-11-22 19:35:05 UTC ]
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The digital publisher G/O Media has shuttered Jezebel, the feminist publisher, amid a broader sweep of layoffs across the G/O Media portfolio that will affect 23 staff in total, according to an internal memo shared by chief executive Jim Spanfeller. The cuts come just two days after the company... Continue reading at AdWeek
[ AdWeek | 2023-11-09 16:29:51 UTC ]
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In addition to music and podcasts, Spotify has recently been working to cement its presence in the audiobook space. Today, the company announced Premium users in the US will be able to stream 15 hours of free audiobook content monthly as a part of their subscription.... Continue reading at Engadget
[ Engadget | 2023-11-08 19:20:00 UTC ]
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Penguin Random House's annual update on its workforce demographics showed modest progress in adding more employees from BIPOC groups despite a rise in hiring of new white workers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-11-07 05:00:00 UTC ]
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Paramount is making good on its commitment to collaborate with multiple measurement companies. Top line Today, the publisher announced it has partnered with cross-platform TV measurement company iSpot for a new currency integration. The collaboration allows the companies to measure and transact... Continue reading at AdWeek
[ AdWeek | 2023-10-10 12:00:00 UTC ]
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As we move into the fall reading season, deeply imagined short stories and inventive linked essays are having a moment alongside novels. What’s thrilling about the books coming out from small presses is the breadth of range—there are intentional and accidental murders, family drama and... Continue reading at Electric Literature
[ Electric Literature | 2023-09-26 11:15:00 UTC ]
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Amazon has rolled out a new Kindle Scribe sale for Prime members. Each configuration of the 10.2-inch ereader is up to 22 percent off, which brings the base version with 16GB of storage and Amazon's "Basic Pen" stylus down to $265. That's $75 off the device's usual price and only $10 more than... Continue reading at Engadget
[ Engadget | 2023-09-19 15:15:36 UTC ]
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A right-wing book publisher has a solution to Scholastic Book Fairs: their own. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2023-09-15 10:40:00 UTC ]
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Terrell Tannen recalls trying to adapt Jim Harrison’s novels for Hollywood—and making a friend in Harrison along the way. | Lit Hub Memoir “I can’t approve of this movie, and by all rights, I could hate it. But I am enthralled.” Annie Berke revisits The Notebook adaptation, (nearly) 20 years... Continue reading at Literrary Hub
[ Literrary Hub | 2023-09-15 10:30:28 UTC ]
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Among the week's headlines: a politically charged hearing on book bans in the U.S. Senate; Illinois libraries face another wave of bomb threats; an internal report reveals the strain library workers at the Oakland Public Library are feeling; and a brilliant essay explores how today's right wing... Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-15 04:00:00 UTC ]
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Between January 1 and June 30, Penguin Random House saw its international revenues rise by 9 percent year over year, to €2.1 billion. The post PRH: 9-Percent International Revenue Gains, January-June appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-30 13:08:32 UTC ]
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Partnership will test buy-side systems’ ability to run on alternative currencies, and what it means for next steps. Continue reading at Advertising Age
[ Advertising Age | 2023-08-17 14:00:00 UTC ]
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The FT Business Book of the Year issues a 15-title longlist, with a six-title shortlist ahead and a winner to be named in December. The post London’s FT Business Book of the Year: A 15-Title Longlist appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-08-16 16:57:51 UTC ]
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Indigenous-Minority Poets from China: 15 Recordings for International Day of the World’s Indigenous Peoples, by Ming Di Audio Poetry [email protected] Tue, 08/08/2023 - 14:48 Photo by Nicolas Winkler / Flickr To celebrate the International Day of... Continue reading at World Literature Today
[ World Literature Today | 2023-08-08 19:48:59 UTC ]
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The sale comes after Paramount failed to sell the book publishing giant to Penguin Random House. Iconic American publishing company Simon & Schuster has a new owner. On Monday, the publisher was acquired by private equity firm KKR in a $1.62 billion deal. Here’s what you need to know.Read... Continue reading at Fast Company
[ Fast Company | 2023-08-08 08:50:00 UTC ]
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The deal, for $1.62 billion, will put control of a cultural touchstone in the hands of a financial buyer. Continue reading at The New York Times
[ The New York Times | 2023-08-07 23:51:30 UTC ]
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