In the growing streaming market, TV productions have stopped having the impact they once had. So it should not be a big surprise to hear that the division of Paramount Television Studios has closed its doors permanently.
According to Variety, Paramount has made the decision to completely eliminate this division in order to avoid a loss of $500 million dollars..This is what Nicole Clemens, presenter of Paramount Television Studio, had to say:
“This has been a challenging and transformative time for the entire industry, and sadly, our studio is not immune. Over the past 11 years, the studio has overcome seemingly insurmountable obstacles through a combination of strength, determination, and unwavering commitment. We have met these challenges with incredible resilience, creativity, and passion for what we do, and I couldn’t be more proud of our team. We have also had the privilege of collaborating with some of the industry’s brightest creative talents to help tell incredible stories seen around the world, entertaining and shaping culture.”
In an environment controlled by streaming services, The idea of a division focused on television movies sounds like something outdatedalthough in 2013, the year this division was formed, this made a lot of sense. In related news, Skydance buys Paramount. Similarly, the Halo series has been cancelled.
Via: Variety
#Paramount #closes #movie #division #Atomix