Participant Media is shutting down Pivot TV, the millennial-facing cable network it launched four years ago to provide entertainment and encourage social activism.
The network, which allowed viewers to watch on cable or via livestream, was home to shows including Joseph Gordon-Levitt‘s “HitRecord on TV” and “Raising McCain,” hosted by Meghan McCain. It also aired “Please Like Me,” a popular Australian comedy-drama created and written by Josh Thomas.
The network reaches 50 million homes. It will wind down production between now and the end of the year, when it will go completely shut down.
Employees were notified just after 10 a.m. Wednesday morning. Because Pivot is a private company, the number of people losing their jobs was not released.
In addition to original shows, Pivot also aired socially conscious films as well as TV shows including “Buffy the Vampire Slayer” and “Friday Night Lights.”
Update: Here’s a release Pivot sent out after we posted the first draft of this story.
Today, Participant Media announced that as part of an overall reevaluation of the business, the company would be focusing its efforts and investments behind content creation and social impact, and exiting the business of owning and operating its TV cable network, Pivot.
Commenting on this restructuring, Participant Media CEO David Linde said, “As the media landscape changes, we have been evaluating how we fulfill our mission to entertain and inspire social action around the world’s most pressing issues. That process has led us to the decision to move away from owning and operating a cable network. While this conclusion was not an easy one, it is ultimately in the best interest of all our stakeholders, and allows us to allocate more resources toward the production of compelling content across all platforms.”
As has been widely reported, the landscape for stand-alone, independent cable networks has grown significantly more challenging since Pivot’s inception in 2013. This includes a wave of consolidation among the largest cable TV distributors; increasing competition for high-quality content, driving up the costs of programming; and continued migration by consumers and advertisers toward online video and away from traditional linear video.
At the same time, demand for high-quality content has continued to grow as consumers spend increasing amounts of time watching content at home, at work and on-the- go. “There has never been a better time to be a creator of great content,” noted Linde. “By focusing squarely in that direction, Participant is positioning itself to take advantage of these trends.”
“This was a decision made over a lengthy period of analysis,” said Linde. “The network’s real achievements can be wholly attributed to the Pivot team, of whom we are incredibly proud. This very talented group’s commitment to our broader mission has been absolute, and we are very grateful for their significant contributions to the organization.”
The Evolution of Joseph Gordon-Levitt: From Child Actor to 'Snowden' Star (Photos)
1991: Joseph Gordon-Levitt booked a number of roles as a child actor, including guest spots on "Family Ties" and "Murder She Wrote," but his first starring role was on ABC's revival of '60s gothic soap opera, "Dark Shadows." The show, on which JGL played David Collins, only lasted one season.
1994: In "Angels in the Outfield," JGL played an adorable foster child who prayed to God that the California Angels win the pennant so he can have a family again. God answered by sending a pack of angels, led by Christopher Lloyd, to help out the struggling ball club.
1996: JGL began an unforgettable turn as the oldest of four alien visitors scouting out planet Earth disguised as humans (although oldest, JGL's character was disguised as a teenager) in the hit NBC sitcom, "3rd Rock From the Sun." The show lasted six seasons, and ended its run in 2001.
1999: JGL starred opposite Heath Ledger in the Shakespeare-inspired teen comedy "10 Things I Hate About You."
2001: JGL began shedding his squeaky clean sitcom star image by playing a violent and emotionally unstable juvenile delinquent in "Manic," an independent drama co-starring Don Cheadle and his future onscreen love interest, Zooey Deschanel.
2004: JGL continued to receive indie acclaim by playing a reckless male prostitute who was molested by his Little League baseball coach in "Mysterious Skin."
2005: JGL left a lasting impression on viewers as a young, hard-boiled detective in writer-director Rian Johnson's high school noir "Brick."
2007: JGL continued maturing in front of our eyes in another modern noir, "The Lookout," in which he played a forgetful bank janitor with a brain injury who gets lured into aiding and abetting a group of bank robbers.
2008: JGL brought emotional intensity to Kimberly Peirce's "Stop-Loss" as a suicidal Iraq war veteran dealing with post-traumatic stress disorder.
2009: JGL starred in yet another indie, which allowed the rising actor to demonstrate his romantic lead chops. In director Marc Webb's breakout comedy "(500) Days of Summer," JGL played a Los Angeles 20-something who fell in love with a woman (Zooey Deschanel) who doesn't believe in love. He earned a Golden Globe Nomination for Best Actor in a Comedy or Musical.
2009: JGL went mainstream by playing Cobra Commander opposite Channing Tatum as Duke in Paramount's "G.I. Joe: Rise of Cobra." The $175 million action movie made enough money to warrant a sequel, but JGL did not return to reprise the role.
2010: JGL went punk rock for the indie drama "Hesher," which co-star Natalie Portman helped produce.
2010: JGL officially became a movie star after taking on the dapper role of Leonardo DiCaprio's best-dressed partner in Christopher Nolan's sci-fi action blockbuster "Inception."
2011: JGL stepped back into comedy by playing a cancer patient alongside Seth Rogen in the dramedy "50/50." The performance earned the actor his second Golden Globe nomination and cemented his ability to play a broad range of roles.
2012: JGL took his career to the next level by helping Christian Bale's Bruce Wayne take on Bane in "Dark Knight Rises," director Christopher Nolan's conclusion to his blockbuster Batman trilogy.
2012: JGL reunited with "Brick" director Rian Johnson to play a younger version of Bruce Willis in the time-travel action thriller "Looper."
2013: JGL added writer and director to his résumé with the release of "Don Jon," a drama about a Jersey boy who must choose between his love of pornography and the love of his life (Scarlett Johansson). The rom-com premiered to rave reviews at the Sundance.
2014: In "Sin City: A Dame to Kill For," JGL played a cocky young gambler who runs afoul of a powerful senator (Powers Booth) who turns out to be his dad.
2014: JGL won an Emmy for "HitRECord on TV," a Pivot anthology series adapted from his online venture for short vilms and video projects.
2015: In Robert Zemeckis' "The Walk," JGL played real-life daredevil Philippe Petit, who crossed between the Twin Towers of NYC's World Trade Center n 1974 on a tightrope.
2016: JGL took on another fact-based role in Oliver Stone's "Snowden," about the notorious whistleblower who leaked classified National Security Agency documents and then fled the U.S.
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JGL has had a spectacular rise to the top of his craft, and doesn’t appear to be slowing down any time soon
