Earlier quoted context omitted.
> It's contracted to life support in order to empty the existing pipeline to minimize losses. Is it really life support? Or simply, what is always should have been? Do you really need 100 staffs for College Humor? For the production side, sure you may need quite a bit of staff for each individual production, but once a production is done, you no longer need them, but you still have to pay them. How long you'll have t…
Seems like a dramatic announcement if this was just a big downsizing. Seems more like a shut down with a few hail Mary moves to try to turn it into a big downsizing.
A dramatic announcement? Their announcement was a few tweets on Sam Reich personnal twitter, which ends with this sentence: Independent comedy lives on -- just now more independent (gulp) than ever before.
What's dramatic was all the interpretations from everyone else (which does makes sense to see 90% layoff as something dramatic).
This is clearly a shutdown for IAC (though seems like they kept a minority stake, so they probably still have a tiny sliver of hope), but from my interpretation, this is simply a big downsizing for Sam Reich.
They got 15m+ total subscribers over a bunch of their channels, that's enough to support a team much bigger than 10 employees (Linus Media Group can support 30 with 10 millions subscribers) and on top of that they got Dropout.