Stan staff not impacted by Nine job cuts
Staff at Nine Entertainment’s streaming service Stan will not be included in the 200 job cuts announced last week, Mumbrella can reveal.
A Stan spokesperson confirmed to Mumbrella that “Stan was not included in Friday’s announcement.” The streaming service has around 300 employees, according to Linkedin.
RELATED: Meta money runs dry at Nine, publishing boss confirms
The wording of Mike Sneesby’s announcement last Friday suggested the well-performing streaming service may be safe, with the CEO noting “we have made great progress in transforming our business to meet the needs of our audiences as technology continues to change the way people consume media”, while also reiterating that “Nine generates a higher proportion of revenue from digital and subscription sources than any other Australian media company and we have a balance sheet that reflects that success.”
After acknowledging “it will be an uncertain period for some of you,” Sneesby ended his email by namechecking Stan and pointing to its role in the upcoming Olympics.
“It’s important to reiterate that Nine remains in a strong position,” he wrote. “All of our business units are either completely digital or have rapidly growing digital revenues – and each one maintains a leading position in their respective markets.
“All of Australia will turn to our platforms (TV, Stan, Publishing, Digital and Radio) in July for the Paris Olympics. The games will be a showcase of what a truly integrated media company can deliver to every Australian and our advertising partners.
“In order to continue our transformation and Nine’s leadership for decades to come we need to keep investing in our strategic priorities starting with the content, products and technology necessary to serve our audiences.”
Nine is making a significant investment in Stan, with 25 original series and movies in production for 2024, rights deals with Hollywood studios, and an advertising budget that saw Stan sitting alongside McDonald’s and Harvey Norman as one of the nation’s biggest advertising spenders.
Subscribe to the daily newsletter
Got a tip?
Nathan Jolly is the Deputy Editor of Mumbrella. He joined the team in July, 2023.
Linkedin
This is actually management 101 in how not to do redundancies. CEO sends email on Friday, doesn’t front up, goes off to Greece for holiday with zero in person comms. Head of publishing then meets staff on Monday, having left them sitting all weekend, to tell them, decisions will be made in coming weeks, and by the way she’s off to Fiji next week.
This all would have been locked away weeks ago in terms of financial planning.
For a communications company it’s quite something in terms of how messages have been delivered. They absolutely don’t care, but they could least pretend to show some empathy.
User ID not verified.
Have your say