Publisher looking to redeploy staff
Future Studios is closing its TV production arm as the publishing group refocuses efforts on its branded and social video content.
The division was created following Future’s acquisition of Barcroft Studios in December 2019, which was subsequently rebranded to become Future Studios in 2021.
It is unclear how many people are impacted by the closure but Broadcast understands that Future is looking to redeploy affected staff to other parts of the business.
Future Studios has worked with companies including Warner Bros. Discovery, BBC Studios and Channel 4 over recent years, producing TV shows such as E4’s reboot of gameshow format GamesMaster, which was co-produced with Alaska, and two medical formats for Discovery: Unbelievable Me and Body Bizarre (pictured).
The latter was recently rebooted by WBD in EMEA, with a 10 x 45-minute series being produced in partnership with Future Studios and distributor TVF International (TVFI). The original version, which ran for six seasons between 2013 and 2018, was produced by Future [then Barcroft] and Zig Zag for Discovery Channel.
Future Studios will now focus on expanding its branded content and output for social, with shows such as Transformed and Dating Different.
It is also behind numerous YouTube channels such as the Truly brand and claims to have more than 120 million followers across social.
Future declined to comment on the closure of its TV operations but pointed to a trading update in September that referred to “the closure of a number of non-core or low to no growth assets, including its external video production unit…”
The division, along with “selected events and a small number of print and digital brands”, represented around £15m of annualised revenue, with margins below the company’s average, it added.
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