By Ray Ampoloquio December 1, 2022
Companies are starting to find out how quickly coffers will run dry when you war against the streaming giants of the world.
For example, AMC Networks is laying off staff members in an attempt to cut losses.
James Dolan, the CEO of MSG Entertainment, sent a memo saying the company plans to do "significant cutbacks in operations" and "large-scale layoff[s]."
AMC Networks saw its CEO, Christina Spade, step down in September just three months into her tenure.
2022 was an excellent year for AMC as it saw most-watched shows enjoy peak viewership after reaching their conclusion.
AMC is hoping that its current shows can help it weather the storm while it waits for things to get better.