Amid looming recession fears, job cuts in the entertainment industry are widespread. Steve Ross, a USC history professor who has written books about labor and class in Hollywood, said, “It sure is one of the largest sets of cuts. And I think we’re going to see more cuts.”
However, despite the macro headwinds, including soaring prices, consumer spending remained stable on entertainment services. Amid rapid digitalization, changing consumer preferences, and increasingly engaging content, viewers in the United States spent over $34 billion in 2022 for digital home entertainment.
