![]() ![]() Michael Swaim uploads a video called “Dan and Mike are fighting” to the small beans Youtube channel in which they discuss the layoffs and how they had actually had a strained relationship for years due to the fact Michael would stay home to work due to his depression and alcoholism and eventually Michael stopped writing original content all together, only appearing in video projects and podcasts, which left a lot more work for Daniel to do. ![]() The article describes how many companies have attempted to buy into the digital media market without any knowledge of how it works, over-saturating an already saturated market trying to rely on diminishing ad dollars. Splinter News writes about the layoffs and how cracked is the latest victim in the “digital video bust”. The rest of the video team, including management, are laid off. ![]() “Earlier this month, Scripps said it would take a $36 million noncash write-off on Cracked after admitting revenue and profit have disappointed.” But we are moving quickly to right size the business’s expense structure, curtail investment and bring it to profitability for 2018.”ĮW Scripps says they’re writing off cracked stating: “We are disappointed by the subpar financial performance at Cracked and the resulting impairment and goodwill write-down. Scripps earnings report for 2017 reveals bad news stating: He also reveals he became an alcoholic for 6 years due to his struggles with depression and that is why he appeared in less content on the channel. He also states that there were large disagreements with the new management that lead to several key people leaving and that there were layoffs at cracked of 19 people while still there. Michael Swaim reveals in a video titled “Why I Left Cracked” that he stated that he quit on October 13th and didn’t announce it publicly. Michael Swaim leaves to work on the Youtube channel Small Beans. It was not announced publicly at the time. Soren Bowie leaves to write for American Dad. Jack O’brien leaves Cracked after 11 years to lead the comedy division at HowStuffWorks. Cracked, as of this time, had 40 employees and generated $11 million in revenue a year, which meant it was profitable at the time it was sold. The reason was stated that Scripps wanted to expand the video division and break into digital media. I have included a TL DR at the bottom for those not interested in reading the full post.Ĭracked is sold by parent company Demand Media to the EW Scripps Company for $39 million. I have formatted it into chronological order so it’s easiest to follow. Researching this has lead to an interesting peek behind the curtain of many things that were happening internally that the public never saw, as well as dispelled some widespread rumours that circulated about Cracked. At one point the Youtube account seemed to be frozen and no longer posting new videos and then a few tweets revealed that on December 4th 2017 the entire video team, as well as key people like Daniel O’brien and Cody Johnston had been fired and Cracked would no longer be producing video content.ĭue to various apparent legal and other reasons no one could speak out an provide a complete story about what happened to Cracked so over the years I have been compiling and piecing together information from articles, podcasts, videos, tweets, anything into the most in-depth and complete account of what happened to Cracked. For those that remember there was nothing originally announced about Cracked shutting down. ![]()
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