Frontier Developments, the developer of series like Elite, F1 Manager and RollerCoaster Tycoon, has announced that there will be an unknown number of redundancies to reduce annual operating costs.The news broke through the London Stock Exchange on October 17, stating that a period of “disappointing financial performance” had led to the decision.As a result of the layoffs and a new constrained spending strategy, Frontier Developments aims to cut annual operating costs by up to 20 per cent.“The organisational review and resulting actions are expected to conclude by early 2024, placing Frontier in a strong position to deliver efficiently on its strategic plan over the medium term, and capitalise on future opportunities,” read the statement.Redundancies will be subject to consultation and for that reason it has not been disclosed how many developers and other employees of Frontier will be affected. This reorganisation is expected to wrap up in early 2024.It has been a tricky year for Frontier, with a year-on-year drop in revenue from £114million to £104.6million for the financial year ending in May 2023.Furthermore, Frontier shuttered its third-party publishing label Frontier Foundry in June, which led to “£28.7 million of non-cash intangible asset impairment and accelerated amortisation charges” impacting the total operating profit.According to VideoGameLayoffs.com, a website managed by developer Farhan Noor, more than 6,000 jobs in the games industry have been lost over the course of 2023.Epic Games cut over 800 roles in order to cut costs, and Embracer Group closed Volition only two months after celebrating its 30th anniversary.
AMC Networks Begins Rollout Of Cheaper, Ad-Supported Tier Of Flagship Streamer AMC+
28.09.2023 - 22:11 / deadline.com
Following through on plans first announced last spring, AMC Networks said this evening it has officially begun rolling out a cheaper, ad-supported tier of flagship streaming service AMC+.
The $5-a-month subscription option (well below the current ad-free rate of $9) are initially available via AMC Networks direct-to-consumer platforms and apps. It will expand to third-party distributors in the coming weeks, the company said.
With an ad load described as “light” — no more than five minutes of ads per hour — the new version of AMC+ will feature the same series and film titles that are offered on the ad-free version, whose pricing will not change. Full-year subscriptions to the ad tier will go for $83.88.
AMC+ is a bundled service, encompassing a selection of programming from linear channels AMC, BBC America, IFC and Sundance TV and full access to company-owned streaming services Shudder, Sundance Now and IFC Films Unlimited.
The management team of AMC Networks has been drawing attention to the launch over the past several months. With 11 million subscribers across more than a half-dozen targeted services, AMC Networks is playing a different game than its larger media rivals. CEO Kristin Dolan, addressing Wall Street analysts last month on the company’s second-quarter earnings call, reiterated the strategy. “We really have a different sort of economic structure with our services that are more targeted towards specific genres and specific types of subscribers,” she said. “We don’t try to be something for everyone.”
Most original series appearing on AMC+ cost less than $1 million per episode to produce, Dolan added, meaning the company is taking a “measured, opportunistic and disciplined” approach to the direct-to-consumer
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Magnolia Network Orders Two New Series, Renews Three, Sets Fall Premiere Dates For Returning ‘Maine Cabin Masters’, ‘First Time Fixer’, ‘Ranch To Table’, More
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AMC Networks Launches Ad-Supported Streaming AMC+ at $4.99/Month
Brian Steinberg Senior TV Editor AMC Networks has joined the ranks of ad-supported streaming. The company said Thursday that it has begun rolling out an ad-supported version of its AMC+ service for broadband users, and will charge $4.99 per month for it, as opposed to the $8.99 per month it seeks for an ad-free tier.
Byron Allen On His $10B Offer For ABC And Other Disney Networks: “Capital’s Not An Issue”, But Bob Iger “Is Not Ready” Yet To Pursue Linear Sale
Media entrepreneur Byron Allen, one of many parties interested in acquiring ABC and other linear TV assets from Disney, said he has “access to plenty of capital,” and Disney’s internal deliberations are the next hurdle to be cleared.
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