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Sony’s chairman of global TV studios Ravi Ahuja warned that the end of the peak TV era will likely “be painful for most companies,” as cost-cutting measures across the industry leads to less shows and money spent on marketing.
Ahuja, who also manages corporate development, said that while he hopes the big media companies are done with layoffs after this year’s staff reduction efforts, he predicts the changing streaming business model will find media power players cutting back on content production and promotion over the next two years.
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