Radio broadcast company Audacy is laying off about 25 percent of its staff from its Pineapple Street podcast division.
The cuts, which amount to 12 people, come as the company contended with reduced marketing budgets, as well a reduced demand for high-cost, limited run narrative series (which bore the brunt of the staff reductions), as well as an impact from the SAG-AFTRA strikes. The company also put a cost-cutting plan in place last summer, ahead of declaring Chapter 11 bankruptcy in court this month.
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“As part of our 2024 planning cycle, we are continuing to optimize our structure to align with the podcast market opportunity and set us up for continued growth. Unfortunately, that means reducing the size of some of our teams, and we have made the difficult decision to reduce a portion of our Pineapple staff. We are grateful for the hard work and dedication of the impacted individuals,” the company said in a statement.
The podcasts at Pineapple Street are spread across three categories of originals, brands and TV & film podcasts, which include show-specific podcasts, such as The Last of Us podcast and Interview with a Vampire podcast, in partnership HBO, AMC, Netflix, AppleTV and more. Audacy also includes a radio network home to popular stations such as 1010 Wins in New York, as well as podcasting studio Cadence13, home to We Can Do Hard Things with Glennon Doyle, Fly on the Wall with Dana Carvey and David Spade and more.
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