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Digital Outlet The Athletic Laying Off 8% Of Staff Due To Sports Pause, Podcast Slump

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deadline.com
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Dade Hayes Finance EditorThe Athletic, in recent years a safe harbor for sports journalists idled by the collapse of daily newspapers, will lay off 46 workers (8% of its staff) and implement company-wide pay cuts due to the effects of COVID-19.Sports in the U.S.

are just now making a gradual return, with the NBA, NHL and pro golf leading a comeback in June and July. The 2020 landscape has been bleak since March, though, with the daily scoops served up to subscribers of The Athletic not resonating in the absence of live games.

Management said the lack of sports caused a 20% to 30% slowdown in subscription growth, and an overall pullback by marketers during the economic downturn has hurt another key area, podcast ad revenue.

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