Los Angeles-based online content developer Machinima said Thursday that it has laid off 42 people at the company, all from its sales force, as the company continues to struggle with low ad rates and the large chunk of revenues that are claimed by Google from multi-channel networks. The deal apparently comes ahead of a $18M funding round expected from Warner Bros. Machinima has had a series of layoffs, as the MCN has struggled to find the right formula to sustain its content development business. Machinima--and other MCNs--have been publicly unhappy with the slim cut of the advertising pie that actually make it back to the content creators from YouTube.
Top NewsFriday, March 7, 2014
Machinima Lays Off 42