Want one more sign that cord cutting is having a real impact on cable TV networks? This week it was announced that AMC executives are taking a pay cut.
AMC’s CEO Josh Sapan took a 31% pay cut in 2018. The COO Ed Carroll took a 16% pay cut and even the Executive Chairman Charles Dolan took a 19% pay cut in 2018. Two executives who did get pay raises were AMC’s CFO and General Counsel by way of significantly higher stock awards in 2018.
Cord cutting has slowly been cutting into the viewership and revenue of companies like AMC. Earlier this month we learned that AT&T, Comcast, and Verizon announced that they have lost 900,000 subscribers in just the first quarter of 2019.
Will AMC pay cuts be an early warning for other media companies or is AMC an outlier?
Are you surprised that AMC has cut the pay of some of its executives? Leave us a comment and let us know what you think.
Source: B&C
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