Too Much TV: Your TV Talking Points For Tuesday, November 29th, 2022
A difficult day in the world of SVOD
Here's everything you need to know about the world of television for Tuesday, November 29th, 2022.
AMC NETWORKS HEADED FOR LARGE ROUND OF LAY-OFFS
I think it's fair to say that AMC Networks is having a bad day.
Early Tuesday morning, it was announced CEO Christina Spade was "stepping down" from her post after less than three months on the job. Tuesday afternoon brought news the company is headed for a serious round of cutbacks, according to a companywide email sent by James Dolan, the CEO of AMC parent company MSG Entertainment.
Here is the memo, which was provided by one of the TooMuchTV subscribers:
AMC Networks Community:
As I am sure you are aware our industry has been under pressure from growing subscriber losses. This is primarily due to “cord cutting.” At the same time we have seen the rise of direct to consumer streaming apps including our own AMC+. It was our belief that cord cutting losses would be offset by gains in streaming. This has not been the case. We are primarily a content company and the mechanisms for the monetization of content are in disarray.
It is for that reason that myself and the Board of Directors of AMC Networks have concluded that we as a company need to conserve our resources at this time. We have directed the executive leadership of AMC Networks to undergo significant cutbacks in operations. These will include a large-scale layoff as well as cuts to every operating area of AMC Networks. We of course realize that this will cause significant concern and anxiety for our employees and those who rely on AMC Networks for their livelihood. We do not take this lightly. We will take every step possible to minimize the impact of these actions on our community. However, it is imperative that we begin immediately with this new course of action.
The Dolan Family and the Board of AMC Networks have great pride in the company and products that you have created. This is a confusing and uncertain time in our industry. We are confident that AMC Networks will come through this even stronger. Your executive leadership will follow up with details shortly. We wish only the best for everyone in the AMC Networks community.
The problem for AMC - like most other media companies - is that the linear television business is collapsing quicker than executives expected. And given that most companies are built to thrive under linear's unusually lucrative profit margins, any reduction in that revenue stream is going to hurt.
AMC's streaming business is healthy and someone can carve a profitable business out of those SVODs. The real question now is how deep the cuts will be at AMC and whether this news will prompt another round of the ever-popular speculation game "Who is going to buy AMC?"
To be clear, AMC Networks would be just fine on its own. At least after a bit of restructuring. But this will certainly embolden the industry analysts that argue the only way to survive in the streaming industry is through consolidation and ever-increasing scale.
SPEAKING OF STREAMING INDUSTRY SHAKEOUTS
The French cinema streaming service Cinessance has just announced that it is shutting down, effective December 1st.
Founder Clément Monnet explained the decision in a letter to subscribers:
As many companies in the tech sector, we are facing the challenges of a difficult financial market and our company has exhausted its funding.
Developing a streaming platform requires a lot of capital, on one hand to acquire great content, and on the other hand to make those films known to the largest possible audience. In a particularly tense financial context and despite your loyalty and enthusiasm, we haven’t been able to raise enough capital to pursue our development.
It is with a heavy heart that we are closing Cinessance even though we have observed a real desire for French cinema abroad. We understand your disappointment, be certain that we have put all our passion, energy, and expertise to try to make this adventure a success.
If you wish to enjoy watching French cinema, we encourage you to use France Channel, a streaming platform specialized in French movies & series, documentaries and TV shows. All present and past Cinessance subscribers will benefit from 90% first month discount to France Channel by using the following promo code: CINESSANCE
The entire team of Cinessance thank you for your support and confidence, we apologize for not having lived up to your expectations and wish a long life to French cinema.
There are a number of international content streamers in the U.S. marketplace and I expect we'll see more consolidation and shutdowns in 2023. The tough market conditions are part of the reason Viaplay has taken so long to roll out its American streaming service.
WHIP WATCH STREAMING ORIGINALS REPORT
ODDS AND SODS
* The Hulu Originals drama series Tell Me Lies has been renewed for a second season.
* What kind of man was Anthony Bourdain? This Atlantic profile of the new book Down & Out In Paradise: The Life Of Anthony Bourdain the sad picture of a man spending the last day of his life scrolling through Google looking at photos of his girlfriend on the Red Carpet with another man.
* In what has become of the more inexplicable HGTV careers, Christina (Christina On The Coast) Hall has a new show now that she has moved to her "second home: near Nashville. Christina In The Country premieres on Thursday, January 12th, 2023.
* Season 27 of Antiques Roadshow premieres Monday, January 2nd, 2022 on PBS.
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THE CW ANNOUNCES ITS MID-SEASON PREMIERES
The soon-to-be exiting from scripted original dramas network The CW has announced its mid-season premiere dates:
Thursday, January 12th, 2023:
8:00-9:00pm WALKER (Midseason Return)
9:00-10:00pm WALKER INDEPENDENCE (Midseason Return)
Saturday, January 14th, 2023:
8:00-9:00pm CRISS ANGEL’S MAGIC WITH THE STARS (Midseason Return)
9:00-9:30pm WORLD’S FUNNIEST ANIMALS (Midseason Return)
Sunday, January 15th, 2023:
7:00-10:00pm THE 28TH ANNUAL CRITICS CHOICE AWARDS
Friday, January 20th, 2023:
8:00-9:00pm PENN & TELLER: FOOL US (Midseason Return)
9:00-9:30pm WHOSE LINE IS IT ANYWAY? (Midseason Return)
Monday, January 23rd, 2023:
8:00-9:00pm ALL AMERICAN (Midseason Return)
9:00-10:00pm ALL AMERICAN: HOMECOMING (Midseason Return)
Tuesday, January 24th, 2023:
9:00-10:00pm THE WINCHESTERS (Midseason Return)
Wednesday, February 8th, 2023:
9:00-10:00pm KUNG FU (Midseason Return)
Saturday, February 11th, 2023:
8:00-8:30pm MASTERS OF ILLUSION (Season 9 Premiere)
WHAT'S NEW FOR TUESDAY:
Angola Do You Hear Us? Voices From a Plantation Prison (Paramount+)
Art And Krimes By Krimes (Paramount+)
Behind The Music (Paramount+)
Casey Anthony: Where the Truth Lies (Peacock)
Crime Scene: The Texas Killing Fields (Netflix)
Drain The Oceans Season Five Premiere (NatGeo)
Favorite Daughter (Paramount+)
Last Flight Home (Paramount+)
Life Below Zero: Next Generation Season Premiere (NatGeo)
Love Actually: 20 Years Later (ABC)
My So-Called High School Rank (HBO)
Piano y Mujer II (HBO Max)
Planet Sex With Cara Delevingne Series Premiere (Hulu)
Reindeer In Here (CBS)
Romesh Ranganathan: The Cynic (Netflix)
The Creature Cases (Netflix)
The Story Of Home Series Premiere (Discovery+/Magnolia)
Click Here to see the list of all of the upcoming premiere dates for the next few months.
SEE YOU WEDNESDAY!
If you have any feedback, send it along to Rick@AllYourScreens.com and follow me on Twitter @aysrick.