14 AVN staffers were let go today, including Mike Albo. This comes as a surprise even though it is obvious to everyone that ad revenues are way down. AVNs official word for it was “streamiling”. Don’t be surprised to see a lot more companies in Porn Valley “Streamline” in the coming months.
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December 19, 2024
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Yikes. Is the downturn also a cause of desperation at XBIZ? Tom Hymes just took another job – and XFANZ just cut its entire “blog” section” from the site.
AVN Live launched last week – and nobody even noticed. XBIZ’s AVI was an abortion. Do any of you even know about it?
Trade publications follow the industry, financially.
And now that we have two video trade publications, AVN and XBIZ, the dwindling pool of easy cash has been cut in half. I don’t see either of them investing in any big new projects soon. Consolidation is in order.
It is sad to see that many people lose their jobs, especially when most of them were probably creative people who are underpaid and underappreciated to begin with.
On the whole, though, I can’t say that I’m surprised. The industry has been in an uncontrolled and (I think) unfocused growth phase for at least a couple of decades. With the economy tanking and so many traditional business models breaking down (Blockbuster wants to buy Circuit City? Really?), it seems unavoidable that some major changes are required.