The company that runs a digital cable and satellite network announced it will “move away from owning and operating a cable network.” Participant Media unveiled plans to exit the channel Pivot, which launched Aug. 1, 2013.
PIvot, which targets young adults 18-34, was launched as what was called at the time a “disruptive TV” service, involved in social advocacy. The channel’s programming has included the Joseph Gordon-Levitt show “HitRecord on TV” and the reality-based talk show “Raising McCain,” hosted by Meghan McCain, the daughter of Sen. John McCain.
The shutdown is part of an overall refocusing for Participant Media. In announcing the company’s plans, 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.”
In the announcement, the company added: “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.”
Linde added: “There has never been a better time to be a creator of great content. By focusing squarely in that direction, Participant is positioning itself to take advantage of these trends.”