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Los Angeles Times
a few seconds ago
- Los Angeles Times
Amazon cuts 110 jobs in reorganization of Wondery audio division
Amazon on Monday said it is cutting 110 roles from its audio division Wondery as part of a restructuring effort. The cuts reflect an industry shift toward producing more podcasts with video, a format that has become more popular with consumers who listen to their favorite hosts on platforms including YouTube and Spotify. The layoffs also mark the latest sign of contraction in the once burgeoning podcast industry. In June, Spotify laid of 5% of staff in its podcast division and Philadelphia-based Audacy shut down New York-based Pineapple Street Studios. 'As video podcasting has grown in popularity, we have learned that creator-led, video-integrated shows have different audience needs and require distinct discovery, growth and monetization strategies compared to audio-first, narrative series,' Steve Boom, vice president of audio, Twitch and games at Amazon, wrote in a memo to staff. Under the changes, Amazon will combine Wondery's narrative podcast studio with audio books and podcast division, Audible. Wondery staffers in its creator-led podcast studio will be part of a new organization called creator services with Amazon's talent services group. Amazon acquired Wondery in 2020 for an undisclosed amount. The Culver City-based company is known for producing podcast series including 'Dr. Death' 'American Scandal' and 'The Shrink Next Door.' Amazon said the restructuring will help it better support creators across different channels to monetize their content and simplify the process for advertisers, while also 'making the content more accessible to audiences wherever they prefer to consume it.' Wondery CEO Jen Sargent is leaving the company to pursue other opportunities, Amazon said. Ray Wang, principal analyst of Constellation Research, said the reorganization will help the company grow its ad business. 'This makes a lot of sense given how advertisers view both formats,' Wang said.
Bloomberg
a minute ago
- Bloomberg
American Eagle Jumps Most Since 2000 After Trump Praises Sydney Sweeney Ad
American Eagle Outfitters Inc. shares jumped the most since 2000 on Monday after US President Donald Trump touted the company's ads — pushing the retailer's stock into meme stock territory. The shares spiked 24% on Monday after Trump said in a social media post that American Eagle's recent marketing blitz with actress Sydney Sweeney is the 'HOTTEST ad out there.' He said American Eagle jeans are 'flying off the shelves.'
Wall Street Journal
a minute ago
- Wall Street Journal
Santa Fe Opera Review: The Fresh in the Familiar
Santa Fe, N.M. This summer's Santa Fe Opera season, which runs through Aug. 23, skews toward standard repertoire, but there were surprises within that narrow compass. Director Melly Still gave Wagner's 'Die Walküre' a feminist gloss: Its women see clearly, while Wotan's betrayal of his children, however agonizing and supposedly for the greater good, is the inevitable result of his lust for power.
