By Variety | Created at 2024-11-14 02:17:16 | Updated at 2024-11-22 10:37:22
1 week ago
Moonbug, the family content machine behind the Netflix juggernaut “Cocomelon,” has enacted a small round of layoffs.
Sources estimated that less than 5% of the company will be impacted, and that pink slips will come for roles in Los Angeles and London. Another source said the brunt of downsizing will hit in-house writers for series and other content, and the company will pivot to a freelance model for those jobs.
“As we continue to plan for 2025 and beyond, we are making changes to our studio team to allow us to be more nimble across aspects of our productions. This means a small number of roles across London and L.A. will be impacted. We’re deeply grateful for the contributions of these employees and wish them nothing but the best,” a spokesperson for Moonbug told Variety.
Moonbug was acquired in 2021 by Candle Media, Tom Stagg and Kevin Mayer’s venture which also includes stakes in Reese Witherspoon’s Hello Sunshine and Exile Content Studios.
Led by René Rechtman, Moonbug had the No. 1 most-viewed licensed content on Netflix in the first half of 2024, which generated 124.5 million views in aggregate. In addition, the two seasons of spinoff “CoComelon Lane,” a Netflix original produced by Moonbug, had 34.4 million views in the period. Yet another spinoff, “Little Angel,” garnered 52.4 million views over its five volumes on the service.
In addition to high-volume YouTube properties based on its IP, Moonbug is also the creator behind titles like “Blippi,” “Mia’s Magic Playground” and “My Magic Pet Morphie.”
