The woke capitalism thread [Get woke, go broke]

CynicalContrarian

Owl
Gold Member

eradicator

Peacock
Gold Member
Cinderella remake with a massively obese Cinderella and her black tranny fairy godmother


Because as you know men really do love massively obese women and black trannies are full of great advice to young girls , or so Disney would have you believe
 

budoslavic

Peacock
Gold Member
Go Woke, Go Broke? NBA Reportedly Facing Billions in Losses, Steep Decline in Player Salaries

For obvious reasons, 2020 has been a bizarre year for sports.

The stark lack of fans at games, the various “bubble” environments to try and mitigate the spread of coronavirus, and the awkward rescheduling forcing leagues to play much later in the year than normal have all contributed to a sports year that fans won’t soon forget.

But one major aspect of 2020 professional sports that fans might want to try and forget is the deluge of “woke” social justice protests that have proliferated the major three North American professional sports leagues.

While both MLB and the NFL had their own bouts of social justice demonstrations, no sports league tapped into those protests more than the NBA.

Yes, the NBA had a dissident or two, but the league, by and large, wholly embraced the “Black Lives Matter” movement. The NBA even went so far as to have “Black Lives Matter” emblazoned on the court during the duration of its bubble restart.

According to a report Friday from ESPN’s Adrian Wojnarowski, the league and the National Basketball Players Association are still not able to agree on when the league will restart.

The league would like to start as early as December, while the Players Association prefers to play at a later date, the report said.

The NBA, however, fears that starting the season even in January could cost the league anywhere from $500 million to $1 billion in lost revenue, according to ESPN.

Now, a multibillion dollar entity like the NBA might normally be able to weather losses even that substantive, if only for a year.

Things get a little hairier, however, when factoring in the great unknown of when fans will be allowed back en masse. Without that vital gate revenue, ESPN noted that projections have the NBA losing another $4 billion.

That’s a potential loss of up to $5 billion in revenue if the season starts in January and fans are not allowed to attend. That massive figure, even for a multibillion dollar entity, would be a very painful and bitter pill to swallow.

 

homersheineken

Kingfisher
Go Woke, Go Broke? NBA Reportedly Facing Billions in Losses, Steep Decline in Player Salaries





 

homersheineken

Kingfisher
:squintlol::squintlol::squintlol:


ESPN to Lay Off 300 Employees

ESPN will lay off 300 employees, about 6 percent of its worldwide staff, and let 200 open positions go unfilled
, Jimmy Pitaro, the network’s chairman, told employees in a memo on Thursday.

“Prior to the pandemic, we had been deeply engaged in strategizing how best to position ESPN for future success amidst tremendous disruption in how fans consume sports,” Pitaro wrote in a memo that was obtained by The New York Times. “The pandemic’s significant impact on our business clearly accelerated those forward-looking discussions.”

The cuts will affect most divisions across the company, but are concentrated in broadcast production.

Like many companies, ESPN’s business has been ravaged by the coronavirus pandemic. ESPN will pay more than $7 billion for the rights to show live sports in 2020, the lifeblood of ESPN’s nine cable channels. But for four months this year, from March to July, there were almost no games to show. Even with the resumption of most professional and college sports, ESPN has faced low viewership and a sluggish advertising market.

This is the latest in a string of layoffs for ESPN in recent years. About 300 employees were laid off in 2015, and about 250 were laid off in two waves in 2017, including a number of high-profile on-air employees.

The layoffs come as ESPN continues to confront the long-term decline of pay television. The number of households paying for television peaked at 100.5 million in 2014; today that number is close to 80 million. While the timing and severity of the layoffs were driven by the pandemic, they are also a further reorientation toward a fully digital and streaming future.


“Placing resources in support of our direct-to-consumer business strategy, digital, and, of course, continued innovative television experiences, is more critical than ever,” Pitaro wrote in the memo. In 2018, ESPN started ESPN+, a sports streaming service that costs $5 a month. At the end of June, ESPN+ had 8.5 million subscribers.

Eighty percent of ESPN is owned by Disney. Sometimes its poor financial results can be buoyed by gains at Disney’s theme parks or movie divisions, or vice versa. But the pandemic has devastated nearly all of Disney’s business lines.

Its theme parks worldwide were closed for months. Disneyland in California remains closed, while Disneyland Paris closed again as France entered a new lockdown. Few Americans are visiting movie theaters, wrecking Disney’s planned release schedule, and the production of movies and television shows has crawled to a standstill. Disney Cruise Line has suspended its cruises through the end of the year.

In September, Disney laid off 28,000 employees, mostly at its two American theme parks. It announced a loss of $4.72 billion in the most recent quarter, covering April through June. Earnings in the company’s cable networks division, which is made up mostly of ESPN but also includes properties like the Disney Channel, were down 10 percent.

Before the layoffs, ESPN had taken steps to reduce employee expenses. Some employees had been furloughed, and executives and highly-paid employees were asked to take pay cuts in recent months.

While ESPN’s highest profile employees won’t be directly affected by these cuts, some on-air talent very likely will not have their contracts renewed when they expire, and others might see less lucrative contract extensions.

According to a number of talent agents who insisted on anonymity so as not to harm their relationship with ESPN, the company is playing hardball in negotiations. In recent months, some on-air employees have signed extensions with a base salary of less than $50,000 and bonuses for each on-air appearance, when previously they had larger contracts that guaranteed a certain number of on-air appearances.

During the pandemic, ESPN has broadcast more games remotely, with a limited number of personnel on-site and most functions done from one of the company’s broadcasting hubs in Bristol, Conn.; Los Angeles; New York; or Charlotte, N.C. This saves travel and employee costs, and at least some of the increased remote production is expected to continue even after ESPN believes it is safe to fully travel again.

As the company cuts costs, it is looking toward possibly increasing its already outsized rights fee commitment. The N.F.L.’s contracts with television networks expire in 2021 and 2022, and ESPN is widely expected not only to bid to retain its “Monday Night Football” package, but also to bid on a package of Sunday games and to enter the Super Bowl rotation. ESPN’s broadcast contract with Major League Baseball expires soon, and it could look to bid on rights to N.H.L. games next year.

ESPN is just the latest sports media property to undergo layoffs. Fox Sports laid off 50 to 100 employees over the summer, NBC Sports laid off around 75 employees at its regional sports networks and The Athletic laid off 46 people.
 
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