Sadly, the news today is dominated by the announcement that Turner Classic Movies and Criterion’s FilmStruck streaming service for well-curated classic, arthouse, indie, hard-to-find, and cult movies will be shutting down on 11/29 and has already stopped accepting new subscribers. You can read more here and here.
This is apparently driven the desire by AT&T, which recently purchased Time Warner, to streamline its business by cutting niche services. Though FilmStuck was wildly popular with cinephiles, the audience was small compared to the kind of mass market profit-making a modern media conglom-o-monster prefers. Said Turner and WB Digital Media in a statement today:
“We’re incredibly proud of the creativity and innovations produced by the talented and dedicated teams who worked on FilmStruck over the past two years. While FilmStruck has a very loyal fanbase, it remains largely a niche service. We plan to take key learnings from FilmStruck to help shape future business decisions in the direct-to-consumer space and redirect this investment back into our collective portfolios.” [Read on here...]