Paramount announced last week that it will shut down MTV News due to consolidation, ending the iconic music video network’s news operation.
What does this consolidation mean for MTV News
Media groups Showtime/MTV Entertainment Studios and Paramount Media Networks will be consolidated into two parts. These include the studios surrounding the groups and their networks. The strategy will see the combination of nine separate teams into one portfolio group.
According to NBC News, in a memo to staff, Chris McCarthy, the president of the above mentioned groups, stated that the company continues to feel pressure from broader economic headwinds. He explained that senior leaders in coordination with HR have been working together over the past few months to determine the optimal organization for the current and future needs of the business.
“As a result, we have made the very hard but necessary decision to reduce our domestic team by approximately 25% (across the Showtime, MTV Entertainment Studios and Paramount Media Networks groups in the U.S.), McCarthy said.
“This is a tough yet important strategic realignment of our group. Through the elimination of some units and by streamlining others, we will be able to reduce costs and create a more effective approach to our business as we move forward.
Three decades of alternative news
The television network which revolutionized the music industry and popular culture in the 80s and 90s, has been a trusted source for music-related news and pop culture trends. This move marks a significant shift in an ever-evolving media landscape that is witnessing major changes in how people consume information.
MTV launched in 1981 as a platform for music videos. It later introduced news, and commentary on music, pop culture, and social issues. Over the years, the news show has broken some of the biggest stories in the music industry. Its coverage has helped to shape the way that we think about music and its role in our society.
The impact of MTV News
One of the most significant ways that MTV News has impacted the music industry is through its coverage of social and political issues.
From the AIDS crisis of the 1980s, to the Black Lives Matter movement in recent years. MTV News has provided a platform for artists to speak out on important issues. All the while helping to raise awareness and spark conversations around these topics.
However, in recent years. MTV News has faced criticism for its shift towards more clickbait-y, and sensationalized content. Its focus on celebrity gossip and reality TV may have come at the expense of substantive journalism. This shift has led some to question whether MTV News is still a relevant.