Discovery Latest to Cut Back on Staffers
Discovery Communications has dismissed more than 20 of its ad sales staffers, becoming the latest media company to cut costs by eliminating employees.
The cuts come amid a television environment in which ratings are falling, ad sales growth is stalled and marketing dollars are shifting to digital.
During the third quarter, Discovery reported a 1.3% increase in domestic ad revenues and declined to offer guidance to Wall Street analysts on fourth quarter. Overall, cable ad sales were down 0.5% for the cable network groups.
At Discovery, the move also reflects a decision to consolidate its regional offices, leaving only a senior executive in cities like Detroit and Atlanta rather than a larger sales team.
Discovery executives had no comment.
Last week Fox said it offered buyouts to some ad staffers following the announcement that it would consolidate its broadcast network and cable network sales teams. Also, Scripps Networks said it was eliminating some staff positions in reaction to changes in the media business.
Earlier AMC Networks and the Weather Channel said they’d been cutting staff.
Time Warner units Turner Broadcasting, Warner Bros and HBO made big cuts, terminating more than 2,000 employees all together.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.