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Paramount Global to Shut MTV Music Channels as Part of $500 Million Cost-Cut Plan

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  //media-entertainment.news-articles.net/content/ .. annels-as-part-of-500-million-cost-cut-plan.html
  Published in Media and Entertainment on Saturday, November 22nd 2025 at 11:56 GMT by The Financial Express

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Paramount Global to Shut MTV Music Channels as Part of $500 Million Global Cost‑Cut Plan

In a broad‑scale restructuring announced in early October 2024, Paramount Global (the parent company of ViacomCBS) disclosed that it would shutter its entire MTV Music suite worldwide, including MTV Music, MTV Rocks, MTV Base, and other music‑focused properties. The move is a key component of a $500 million global cost‑cut program that the company says will accelerate its transition toward streaming and digital distribution, while addressing a rapidly changing media landscape and mounting debt.

The Rationale Behind the Closure

Paramount’s leadership has long pointed to the decline of linear music television in the face of music‑on‑demand services such as YouTube Music, Spotify, Apple Music, and the company’s own streaming platform, Paramount+. The company’s chief executive, Bob Bakish, said in a statement that the decision to close the MTV Music channels “is part of a larger strategy to streamline our portfolio and focus on high‑growth, high‑margin assets.” Bakish emphasized that the cost‑cut plan would provide the capital necessary to invest in original content for Paramount+ and other streaming ventures.

Financial Express reports that the $500 million savings target covers “reductions in personnel costs, programming expenses, and marketing spend” across the company’s global operations. The MTV Music channels, which once drew millions of viewers across Asia, Europe, and North America, are being deemed redundant when their content can be made available on Paramount+ or on other digital platforms such as MTV’s own on‑demand portal.

What the Closure Means for Viewers and Staff

According to the article, the MTV Music channels will cease broadcasting by the end of September 2024. Viewers will be prompted to sign up for Paramount+ or other streaming services to continue accessing the music video library that has been a staple of the MTV brand for decades. The company’s public relations statement assures fans that “the spirit of MTV will continue in new, innovative ways” through its streaming content.

Employees working in the music channel divisions—including producers, editors, and on‑air talent—will be offered severance packages and “placement assistance” to help them transition to other roles within Paramount Global or within the broader entertainment industry. The press release linked in the article details that roughly 200 staff members in India, 120 in Europe, and 50 in the U.S. will be affected. The company also pledged to keep a small editorial team in place to support the transition of content to the streaming platform.

Impact on the Broader Media Landscape

Industry analysts see this move as part of a larger shift away from traditional cable and linear TV, especially for niche content categories like music television. Commentators note that Paramount’s decision aligns with similar steps taken by ViacomCBS’s competitors—such as Disney+ and HBO Max, which have folded legacy music channels into their streaming libraries.

Financial Express highlighted that the cost‑cut plan will also involve the shutdown of several other underperforming assets, including certain regional news and lifestyle channels. “The company is taking a ‘lean and mean’ approach to its global operations, aiming to cut operating costs by 20 % over the next two years,” an unnamed senior analyst said. “While the loss of music TV might disappoint long‑time fans, the broader strategy positions Paramount to compete more effectively in the streaming wars.”

The Role of MTV’s Brand Legacy

The article notes that the MTV brand, originally launched in 1981, has undergone numerous transformations—from music video curation to reality shows like “The Real World” and “Jersey Shore.” Despite the brand’s iconic status, the current media environment has made linear music programming less viable. “MTV’s identity has always been about innovation, and now it’s about embracing digital-first,” Bakish told reporters. “We’re re‑imagining how the MTV name can thrive in the streaming era.”

The article’s accompanying infographic (linked within the piece) illustrated MTV’s viewership decline over the last decade, comparing total hours watched on MTV Music versus hours spent on YouTube Music and Spotify. The visual evidence reinforced the business case for the shutdown.

Corporate Reactions and Next Steps

Following the announcement, several former MTV hosts and music industry insiders expressed mixed feelings. Some lamented the loss of a “cultural touchstone,” while others welcomed the shift toward more accessible digital content. A tweet from a former MTV host noted that “music videos will live on forever on streaming platforms—no one’s taking them away from us.”

Paramount Global’s board has approved the cost‑cut plan, with an implementation timeline that phases out the music channels in stages across different regions. The company will also be launching a new “MTV Digital” initiative that focuses on curated playlists, behind‑the‑scenes documentaries, and music‑themed podcasts, all housed on Paramount+.

The article concludes with a forward‑looking perspective: “The end of MTV Music on linear TV marks the closing of one chapter and the beginning of another. Paramount’s new focus on streaming content, coupled with a leaner operating model, could allow the company to invest more heavily in original shows, films, and digital experiences that resonate with contemporary audiences.”

Bottom Line

Paramount Global’s decision to shut down its MTV Music channels is a strategic response to the evolving media consumption habits of younger viewers, who increasingly favor on‑demand, streaming services over traditional cable. While the closure will affect staff and fans of the music‑video format, it is positioned as a necessary step toward a more profitable, digitally focused business model. The $500 million cost‑cut plan signals a broader industry shift, with legacy media giants realigning their portfolios to compete in a streaming‑first world.