MTV News is the news production branch of MTV (Music Television), which is a popular American cable channel. But facing pay cuts and layoffs, it was forced to shut down.
Image Source: Hindustan Times
Introduction to MTV News
MTV News was launched by MTV in the 1980s to expand its audience. Its first program was called “The Week in Rock”, and was hosted by a writer for the Rolling Stones. MTV News always had a semi-musical theme to it to keep their core audience away from the main cable channel.
MTV News covered the 1992 American elections with the tagline “Choose or Lose.”
This program was also run for other presidential elections as well. In the 1990s, MTV News began expanding its network outside the USA and started reporting European news. However, only the MTV News UK branch was able to stay afloat for a long time.
In the 2000s, MTV News began to publish digital content on its website and on Twitter. MTV News aimed to make full use of pop culture trends in its digital news reporting. As a result, MTV News was seen as an outlet for millennials who did not like traditional reporting.
Financial Troubles for MTV
Image Source: MTV
Since the early 2000s, MTV News has faced several troubles, which have led to a decline in revenue and popularity. MTV News in the 2000s was a shadow of its past self, as it was unable to be a pop culture trend setter and began to lose its grip on the younger audience.
Similarly, competition from similar news outlets, like Buzzfeed and Vice, also dealt a huge blow to MTV News’ popularity.
Starting in 2017, MTV News was significantly downsized, with a huge chunk of its editorial team being laid off. MTV News changed its strategy to a more video-based, short-form style of content production. However, this did not help its woes.
During the COVID era, every single entertainment and news business went through significant upheaval, and MTV and Paramount Productions (the parent company of MTV) were no different. Due to this, there was significant cost cutting, and employee layoffs were done by Paramount Productions.
MTV News had several employees fired and lost funding as well. However, in 2023, Paramount Productions announced a sequel as well. However, in 2023, Paramount Productions announced a 25% reduction in its domestic staff and also eliminated several units, one of which was MTV News. This follows the integration of Showtime with MTV Entertainment Productions.
Here’s what Chris McCarthy, Head of Paramount Media Networks, had to say in a memo to the staff: “We have made the very hard but necessary decision to reduce our domestic team by approximately 25%.” “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.”
Conclusion
With its meteoric rise in the 1990s, the era of MTV News has finally come to a close in 2023, ending a 36-year run.