Showtime Slices Staff by 10%

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korsjs

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The cable channel behind "Fat Actress" is slimming down.

Showtime Networks cut about 10% of its work force this week, according to sources, eliminating as many 70 positions across a wide range of divisions in New York and Los Angeles.

A spokesman for Showtime declined to elaborate beyond a statement saying that the cuts were made as Showtime prepares to split from the rest of its cable brethren inside Viacom and join the broadcasting side of the business under co-president and chief operating officer Leslie Moonves.

"This is the result of becoming part of the new CBS Corp., which will absorb many of the administrative costs and functions, offering a broader promotional platform for our programming," the spokesman said.

Among the divisions affected by the cuts include programming, marketing, finance, publicity and advertising sales. No one in top-rung management was affected, but some at the senior vp and vp level were pink-slipped, including Jay Larkin, senior vp sports and event programming, and Jeff Rochester, senior vp acquisition marketing.

Showtime subjected itself to a similar 10 percent cut across the board in May 2003, citing factors including industry consolidation and rising programming costs (HR 5/6/03).

The network perennially has toiled in the shadow of Time Warner's HBO in the premium TV business but hasn't taken any recent turn for the worse. It registered 13.5 million subscribers in the second quarter, up from 12.4 million in the year-ago quarter. Showtime reported revenue of $969 million for 2004, up from $950 million the year before.

Sources indicated that CBS Corp. and Showtime worked collaboratively on the cuts to trim excess resources that could be taken over by CBS Corp. as it works on budgets for next year.

UPN and King World Prods. are said to have undergone similar streamlining before being absorbed by Viacom.

Showtime is part of CBS Corp. along with broadcast properties CBS and UPN, Viacom Television Stations Group, Paramount Television, Infinity Broadcasting, Viacom Outdoor, Simon & Schuster, Paramount Parks and newly acquired CSTV Networks.

http://www.mediaweek.com/mw/news/cabletv/article_display.jsp?vnu_content_id=1001476146
 
Bob Haller

Bob Haller

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math escapes me at the moment:( Would someone please divided the revnue by the sub number to reach a cost per sub? then divide by 12

This would provide a rough idea of cost to sat providers of the channel and their mark up.
 
Bruce

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Bob Haller said:
math escapes me at the moment:( Would someone please divided the revnue by the sub number to reach a cost per sub? then divide by 12

This would provide a rough idea of cost to sat providers of the channel and their mark up.

Well for 2004, it equals out to $6.50 per sub.
 
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