Hurting from Millions of Lost Subscribers, ESPN Lays Off 100 Employees
On Wednesday, ESPN announced another round of layoffs, reports Yahoo Sports. This time about 100 employees will lose their jobs, including on-air talent. Yahoo Sports says the problem is not ratings, however. ESPN still has strong ratings which brings in ad revenue. The problem is subscriber loss. In the last six years, ESPN has lost 12 million subscribers, representing a 12 percent decrease. The lost subscribers are not necessarily ESPN viewers, however, but are more likely cord cutters who are canceling cable subscriptions altogether, which affects cable networks like ESPN.
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