Participant, the Film Studio Behind ‘An Inconvenient Truth’ & More Woke Message Movies, Shuts Down

Woke movie studio Participant, led by left-wing billionaire Jeff Skoll, is reportedly shutting down operations and laying off most of its staff, as Hollywood’s drastic decline in personnel and budget cuts continues. It has become the latest victim of the recession.

Founded in 2004, participants often funded projects with social justice and globalism themes, such as former Vice President Al Gore’s climate change documentary. inconvenient truth and its sequel.Other titles include a Netflix documentary on President Obama american factory and the Ruth Bader Ginsburg doc. RBG.

The studio also helped finance two Best Picture Oscar winners. green book and Spotlight.

Jeff Skoll (pictured, left) broke the news to Participant’s approximately 100 staff on Tuesday, reporting that almost all of them are expected to lose their jobs. variety report. No new content will be developed or produced, but basic staff will remain to oversee the studio’s library of approximately 135 titles.

“I founded Participant with a mission to create world-class content that fosters positive social change, prioritizing impact alongside commercial sustainability. We have experienced a revolutionary shift in the way we create, distribute, and consume,” Skoll wrote in an obtained memo. variety.

Hollywood’s seismic shift toward streaming entertainment has wreaked havoc on the special film model, which relies heavily on theatrical distribution to generate word-of-mouth business and awards season buzz. Almost all specialty titles that were once supposed to be released in theaters are now released on streaming platforms instead of in theaters.

Participants also experienced a number of high-profile box office failures, including environmentally themed films. dark watera Matt Damon thriller starring Mark Ruffalo. Still water.

The participants are led by former Universal president David Linde, whose leadership brought fame to the company with numerous high-profile releases, including: spotlight, green bookand Steven Spielberg’s post.

Other participant tiles include the Steven Soderbergh tile infectious disease, which portrayed the World Health Organization as a heroic force during a global pandemic.and documentary Page 1: Inside the New York TimesBehind the Scenes of Gray Lady.

Hollywood studios have been hit hard over the past year, with deep budget cuts amid a perfect storm of economic turmoil. These include Americans continuing to cancel their cable TV subscriptions, a steep decline in TV advertising, and billions of dollars in streaming losses.

Additionally, the industry is still recovering from last year’s strike by Hollywood writers and actors.

Studios that have cut jobs in recent months include The Walt Disney Company, Paramount, Warner Bros. Discovery and Amazon MGM.

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