iWorld
Drowning in content: Filmmakers and streamers battle Content Indigestion
MUMBAI: From binge-worthy series to endless cooking reels, do you ever feel like you’re drowning in content? You’re not alone. The streaming world is bursting at the seams, and while we enjoy the buffet of stories, filmmakers and streamers are battling what writer Prasoon Joshi aptly calls ‘Content Indigestion’. As billions of choices flood our screens, are we losing the ability to truly savour what we watch?
India’s content landscape is nothing short of a digital deluge.
With 523 million broadband users, the average Indian spends seven to eight hours a day glued to their screens. Add to this 900 TV channels, 1,600 films annually, and over 60 streaming apps, and you’ve got a recipe for content overload. Did we mention that YouTube alone uploads 500 hours of video every minute?
That’s more content than a goldfish’s attention span can handle. (Yes, a goldfish has a 9-second attention span, while ours is apparently a pitiful 8 seconds.)
The internet was supposed to be our great democratiser. It turned every kitchen into a cooking show and every mimic into a global star.
But here’s the kicker: when everyone’s creating, who’s watching? The line between creators and audiences has blurred, leaving platforms like Google and Meta to call the shots. Forget reruns and classics; today, content that doesn’t trend is as good as forgotten.
Remember when stardom lasted decades? Now it barely survives the weekend. In a market saturated with choices, even the best content struggles to make a mark. Filmmakers are baffled, streamers are desperate, and the rest of us are just trying to remember the plot of the show we binged last night.
What does this mean for the business of content? Rising expectations have pushed production costs up by 200 per cent to 400 per cent, forcing platforms to adopt TV-like ad tiers and sports programming to stay relevant.
Can filmmakers and streamers find the cure for Content Indigestion?
Writer and adman Prasoon Joshi hopes that this chaos will eventually churn out some nectar. As creators and platforms grapple with this overwhelming buffet, is there light at the end of the screen? Perhaps it’s time to ask ourselves: Do we really need more content, or do we need better content?
Yes, we’re drowning in content. Yes, our attention spans are dwindling. But maybe, just maybe, this chaotic phase will help us discover stories that truly resonate. Until then, keep scrolling, binge-watching, and questioning if you’re part of the problem.
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.
