Clubhouse is making a major reboot: The once-buzzy audio-livestreaming social app is laying off more than half its staff in what founders say is a necessary strategy pivot. Clubhouse founders Paul Davison and Rohan Seth announced the layoffs in a memo to employees Thursday. “We arrived at this conclusion reluctantly,…
Severance
Spotify packed on more users than it expected in Q1 but revenue fell short of its guidance, which the company blamed on headwinds in its advertising business. For the first quarter of 2023, the company said total monthly active users (free and paid) grew by 22% year-over-year to 515 million…
Halsey and Capitol Records are going their separate ways, spokesperson for both the artist and the label confirmed to Variety Saturday. “After eight great years the decision to leave Capitol is bittersweet, but we are excited about exploring a new partnership and sharing new music with fans,” said Halsey’s managers,…
“Abbott Elementary,” “Better Call Saul,” “Severance,” “Mo,” “Reservation Dogs” and “We’re Here” are among the entertainment nominees as the Peabody Awards’ board of jurors revealed 42 nominees for this year’s Peabodys in entertainment, arts, children’s/youth, podcast/radio, interactive & immersive, and public service. They join the 27 news and documentary nominees announced by…
Roku is handing out pink slips again and exiting some office space as the streaming platform company takes additional steps to rein in costs. The company said Thursday it will lay off about 200 employees, or 6% of the company’s remaining workforce. In addition, Roku said, it will exit and…
Electronic Arts will cut 6% of its headcount, amounting to about 800 jobs, and reduce its office space, the company announced. The video game company, whose popular titles include “Madden NFL,” “EA Sports FIFA 23,” “Apex Legends” and “The Sims,” is restructuring to focus on “strategic priorities,” CEO Andrew Wilson…
Fifth Season, the production house behind “Severance,” “Tokyo Vice” and “80 for Brady,” is developing series based on Jean Kwok’s 2014 novel “Mambo in Chinatown,” as well as her upcoming book “The Leftover Woman,” which hits shelves later this year. According to its official description, “The Leftover Woman” is “an…
In a wide-ranging restructuring, SiriusXM is eliminating 475 jobs — or about 8% of its headcount — with CEO Jennifer Witz citing economic uncertainty and a need to operate with “greater agility and efficiency.” The satellite radio and audio streaming company is the latest media company to pare back its…
Paramount Global disclosed on Friday that it will pay $122.5 million to settle lawsuits from Viacom shareholders arising from the company’s merger with CBS. In a securities filing, the company revealed that it has agreed to settle the class action litigation now pending in the Delaware Court of Chancery. The…
The DGA Awards are under way at the Beverly Hilton hotel in Beverly Hills. In TV, “Severance,” “Station Eleven” and “The Daily Show” were among the frontrunners (with two nods each), while Steven Spielberg was gunning for his fourth trophy, for the semi-autobiographical “The Fabelmans.” But also in the hunt…
Roku’s fourth-quarter 2022 earnings came in above previously lowered expectations, as the company continued to see growth in its platform business. The streaming device and platform company posted revenue of $867.1 million, essentially flat year over year, and a net loss of $237.2 million (or $1.70 per share) for the…
Alphabet, parent company of Google and YouTube, turned in fourth-quarter 2022 earnings that missed analyst estimates, as YouTube’s ad revenue again suffered a year-over-year decline. Overall, Alphabet posted revenue of $76.05 billion, up just 1%, and net income of $13.62 billion (down 34% versus $20.6 billion in Q4 2021), or…