Rumors have been flying all day, and lots of stuff has been confirmed in the last few hours.
Variety has this: https://variety.com/2020/tv/news/dc-...Pos=0#cxrecs_s
the relevant part here:
Additionally reported (but not confirmed yet as far as I know) Jim Lee is no longer publisher, but will remain with the company in a more consultant position.
Several toy news sites are reporting that DC Direct has been dismantled, all staff laid off, and that DC will no longer produce its own collectibles and will now only license the properties out to other manufacturers.
Further, reports are that DC will reduce their print output by 40% almost immediately.
It has been previously reported the new CEO has stated that currently 33% of their (AT&T/Warner) revenue is generated outside the US, and that his goal is to increase that to closer to 70%. That was his goal informing the strategy of the restructuring that was implemented today. It seems print products for the US direct market do not fit the global initiative, and digital products and products aimed to the book trade are more in line with those new goals so the publishing presence in the direct market is being reduced.
It's theorized that the big IP books that are selling well in context (Batman books, Justice League, Superman) will be retained but other titles trimmed with output of digital and OGN content increasing as the market allows. There will not be more Batbooks per se for example, but the Batbooks being published will make up a larger percentage of the print output as other stuff is cancelled. I guess secondary characters will be relegated to OGN and digital products unless they catch fire and become big sellers.
The aftershocks will include reductions in editorial staff, a smaller pool of freelancers getting offered work with only proven-sellers being retained in the short term.
This is going to have a snowball effect on other aspects of the industry as well. Brick and mortar comics shops are already struggling, and this will impact them immensely.
And as an ironic note, that Fandome event DC was hyping might be a bit awkward as a lot of the pre-recorded segments featured people who were laid off today and a lot of the comic projects they were set to announce probably have uncertain futures now.
A lot of people lost their jobs in a very uncertain economy today, and that sucks no matter what you think of the changes or the directions WB/AT&T is taking with DC. Change for businesses, however necessary, can hurt and often has a human price. This one looks like its going to affect a lot of people. so hopefully they can land on their feet somewhere else.
-M
Variety has this: https://variety.com/2020/tv/news/dc-...Pos=0#cxrecs_s
the relevant part here:
At DC Comics, editor-in-chief Bob Harras, editors Brian Cunningham and Mark Doyle, senior VP of publishing strategy and support services Hank Kanalz, VP of marketing Jonah Weiland, and VP of global publishing initiatives and digital strategy Bobbie Chase have all exited as part of the restructuring. DC Universe employees have also been significantly impacted by the personnel reduction.
Several toy news sites are reporting that DC Direct has been dismantled, all staff laid off, and that DC will no longer produce its own collectibles and will now only license the properties out to other manufacturers.
Further, reports are that DC will reduce their print output by 40% almost immediately.
It has been previously reported the new CEO has stated that currently 33% of their (AT&T/Warner) revenue is generated outside the US, and that his goal is to increase that to closer to 70%. That was his goal informing the strategy of the restructuring that was implemented today. It seems print products for the US direct market do not fit the global initiative, and digital products and products aimed to the book trade are more in line with those new goals so the publishing presence in the direct market is being reduced.
It's theorized that the big IP books that are selling well in context (Batman books, Justice League, Superman) will be retained but other titles trimmed with output of digital and OGN content increasing as the market allows. There will not be more Batbooks per se for example, but the Batbooks being published will make up a larger percentage of the print output as other stuff is cancelled. I guess secondary characters will be relegated to OGN and digital products unless they catch fire and become big sellers.
The aftershocks will include reductions in editorial staff, a smaller pool of freelancers getting offered work with only proven-sellers being retained in the short term.
This is going to have a snowball effect on other aspects of the industry as well. Brick and mortar comics shops are already struggling, and this will impact them immensely.
And as an ironic note, that Fandome event DC was hyping might be a bit awkward as a lot of the pre-recorded segments featured people who were laid off today and a lot of the comic projects they were set to announce probably have uncertain futures now.
A lot of people lost their jobs in a very uncertain economy today, and that sucks no matter what you think of the changes or the directions WB/AT&T is taking with DC. Change for businesses, however necessary, can hurt and often has a human price. This one looks like its going to affect a lot of people. so hopefully they can land on their feet somewhere else.
-M
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