TINSELTOWN has fallen on hard times! There were 17 percent fewer people employed by the entertainment industry in October 2023 than six months before, according to a new report from Otis College of Art and Design. Long term, things look even bleaker. “Employment in the industry peaked in May of 2016, and reached nearly the same level in August of 2022. Since this time, employment has shrunk by 26 percent,” the report notes. Even though the actors’ and writers’ union strikes have been resolved, experts think the trend will continue, the result of the arms race among streaming platforms. <img src="https://cdn.magzter.com/1369067063/1718788819/articles/TeJBNWEoA1718798897257/1041479197.jpg" alt="image">Production for Netflix, Hulu, Amazon, Max, Disney and Paramount+ surged between 2016 and 2022 as these companies battled to attract more and more subscribers at any cost. But now Wall Street investors are pressuring the studios to increase profitability, so entertainment executives are emphasizing quality over quantity and green-lighting fewer shows — which also means fewer jobs for Hollywood’s workforce. “As this business model has transitioned into one which emphasizes profitability and sustainability, we have likely reached the high-water mark in production,” according to the report.

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LYING PUTIN'S CELEBRITY PSYCH OUT

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.