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TV's tough trajectory
Link: https://www.axios.com/2023/01/02/tv-streaming-profits-disney-paramount-nfl
2022 was one of the hardest years ever for traditional television companies — and it’s only expected to get worse as the ad market continues to slow and cord-cutting accelerates. | The transition to streaming has wreaked havoc on the business models of major media firms, driving a new wave of consolidation and putting smaller channels' survival at risk. ● Paramount, Warner Bros. Discovery and NBCUniversal are all expected to sell or combine with other media entities in the next few years, in order to give their businesses the scale needed to possibly compete with tech firms like Amazon, Netflix and Google. Smaller TV companies are also scrambling to adjust. Lionsgate is looking to spin off Starz. Paramount is beginning to bundle Showtime with its primary streaming service. AMC Networks is laying off 20% of its staff.
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