"This past week has been a rough one. On Tuesday, Amazon announced it was cutting 14,000 jobs to keep up with this "generation of AI," layoffs which impacted the company's video games and publishing divisions. And then there's Paramount. As part of the company's new cost-cutting strategy under David Ellison, Paramount will reportedly be laying off 2,000 employees in the coming weeks."
"As the creator space has gotten bigger, its biggest players have created their own media companies. These businesses are often created with the goal of expanding a creator's audience and turning their reach and popularity into a more passive and sustainable revenue stream. To make that happen, a lot of these creators have been turning to Hollywood alum. And at the pace some of these creators are moving, they need good experienced people, stat."
Major technology and studio layoffs, including Amazon's 14,000 job cuts and reported Paramount reductions, have weakened traditional Hollywood employment. From 2022 to 2024 Los Angeles motion picture and sound recording employment fell 27% while creator-economy workers and companies each grew by about 5%. Leading creators are building media businesses to expand audiences and generate more passive revenue, and they are recruiting experienced traditional-media executives to manage scaling operations. Examples include hires from MTV, Discovery, and NBC unscripted moving into creator studios. A parallel surge in creator-support platforms and tools is expanding infrastructure for independent creators.
Read at TheWrap
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