Why does ESPN keep going through these major layoffs?
- The rise of talented content creators, dominance of YouTube and digital. The only time I tune into ESPN is for live events. Their studio programming and content is stale. They lack the dynamic talent they had years ago. Nowadays, when news breaks, content creators are on the news immediately. Consumers don't have to wait until 6p SportsCenter.
- ESPN pays billions for the NFL, NBA and college football. They're broadcasting the Super Bowl this year. These costs have squeezed margins. NFL Network acquisition also cost billions.
- Cord-cutting has played a role.
- ESPN got too political and with their decisions, they clearly regretted going in that direction because it hurt their business. Sports serve as a great unifier. People don't want to tune into ESPN and get lectured on how to live their lives. They want to hear about sports.
#ESPNLayoffs