iWorld
Raaj S Kaushal appointed series head, Hindi originals at ZEE5, promising new content
MUMBAI: Raaj S Kaushal has joined Zee5 as the series head of Hindi originals from February, marking a significant move for the streaming platform. Kaushal brings extensive experience from his previous roles at Zee Studios, Dice Media, and other prominent media companies.
His career includes a diverse range of projects, from television series like Taarak Mehta Ka Ooltah Chashma and x to OTT content for platforms like AltBalaji. He has also worked on films, including the critically acclaimed “200 Halla Ho” on Zee5.
In his new role, Kaushal will lead the development and commissioning of original Hindi content for ZEE5, aiming to create “groundbreaking content.” His experience in various aspects of content creation, including production, screenwriting, and creative direction, positions him to contribute to the platform’s growth.
Kaushal’s background encompasses both television and OTT platforms, providing him with a comprehensive understanding of the Indian entertainment landscape. He has managed projects across various genres, demonstrating his ability to deliver successful content.
Zee5’s appointment of Kaushal reflects its focus on strengthening its Hindi originals offering. His experience and leadership are expected to play a key role in shaping the platform’s content strategy.
iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
