Candle Media Restructures Amid Streaming Sector Challenges

The company splits into two divisions, consolidates operations, and focuses on cost-efficiency to navigate a shifting entertainment landscape.

Candle Media will divide into two main divisions: animation under Moonbug Entertainment and live-action under Candle Studios, led by Sarah Harden.
The restructuring follows significant acquisitions including Hello Sunshine and Moonbug, adding to Candle's substantial debt load.
Higher interest rates and changing Wall Street expectations have pressured Candle to prioritize profitability over subscriber growth.
The dual Hollywood strikes of 2023 and a pullback in industry spending have further impacted the company's financial strategies.
Candle Media is implementing cost-efficiency measures, including combining back-office functions, to better manage its resources.