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Layoffs, Furloughs Hit Hollywood Data and Research Firms | Exclusive

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Summary

Three of the leading Hollywood data and analysis companies - National Research Group, MarketCast, and Screen Engine - have recently downsized due to industry strikes and a slowing streaming market. These companies specialize in data-driven analysis and research for media and entertainment companies, and with the reduction in streaming shows and feature film production, executives said that there was less work and that they needed to cut costs. MarketCast and NRG laid off staff, while Screen Engine furloughed employees. The industry is hoping that the SAG-AFTRA strike will soon be resolved, and that the impacted employees will be brought back to work. Every company with skin in the game has been under pressure to reign in spending and cut costs, as there are fewer mainstream theatrical films and fewer big-deal streaming films and shows that require the kind of analysis provided by these companies.

Q&As

How have leading Hollywood data and research companies been affected by industry strikes?
Three of the leading Hollywood data and analysis companies have downsized due to the industry strikes.

What aspects of the media and entertainment industry do these companies specialize in?
These companies specialize in data-driven analysis and research that benefits media and entertainment companies, conducting test screenings, pre-release research and marketing analysis.

How have the layoffs and furloughs affected the companies' staff?
MarketCast has laid off 12 people, NRG has laid off about 30 people, and Screen Engine has undergone furloughs of about a dozen employees.

How has the summer's dual WGA and SAG-AFTRA strikes impacted production levels?
The summer's dual WGA and SAG-AFTRA strikes have resulted in a reduction in streaming shows and feature film production being shut down.

What proactive steps is Screen Engine taking to prepare for a potential lag in production?
Screen Engine is taking a proactive approach, planning for an anticipated lag in production by executing some furloughs.

AI Comments

👍 This article provides a great insight into the hardships caused by strikes and the streaming market on Hollywood data and research firms. It also gives a glimpse into the proactive measures taken by the companies to prepare for the future.

👎 This article fails to mention any solutions for the employees who were laid off or furloughed due to the industry strikes. It is unfortunate that these companies have had to resort to cost cutting measures with no clear idea of when the industry will recover.

AI Discussion

Me: It's about how three of the leading Hollywood data and analysis companies have downsized due to the industry strikes, layoffs, and furloughs. It looks like the streamers have contracted, which has caused NRG to lay off about 30 people, MarketCast to lay off 12 people, and Screen Engine to furlough about a dozen employees.

Friend: Wow, that's really sad. It's a difficult time for the entertainment industry right now, and I can only imagine how hard it must be for the people who have lost their jobs.

Me: It's definitely a tough situation, and it looks like it's going to be a while before production levels are back to pre-strike levels. It's also interesting to see how these companies are dealing with the decline in streaming shows and feature films. It looks like they're taking a proactive approach and planning for an expected lag in production.

Action items

Research the current state of the streaming market and the impact of the strikes on the industry.
Reach out to the impacted companies to learn more about their strategies for adapting to the changing market.
Connect with industry professionals to discuss potential solutions for the challenges faced by data and research firms in Hollywood.

Technical terms

Layoffs: A layoff is a temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees for business reasons, such as personnel management or downsizing an organization.
Furloughs: A furlough is a temporary leave of absence from work, usually with reduced pay. It is typically used as a cost-cutting measure during economic downturns.
National Research Group (NRG): National Research Group (NRG) is a market research and consulting firm that specializes in providing insights to the entertainment industry.
MarketCast: MarketCast is a market research and consulting firm that specializes in providing insights to the entertainment industry.
Screen Engine: Screen Engine is a market research and consulting firm that specializes in providing insights to the entertainment industry.
Strikes: A strike is a form of protest in which workers refuse to work in order to achieve certain demands.
Streaming Market: The streaming market is the market for streaming services, such as Netflix, Hulu, and Amazon Prime Video.
Test Screenings: Test screenings are screenings of a film or television show that are used to gauge audience reactions and to make changes to the film or show before its release.
Pre-release Research: Pre-release research is research conducted before a film or television show is released, typically to gauge audience interest and to make changes to the film or show before its release.
Marketing Analysis: Marketing analysis is the process of analyzing data to determine the effectiveness of a marketing campaign.