FILE - Jeff Skoll arrives at the Los Angeles premiere of "An Inconvenient Sequel: Truth to Power" at the Arclight Hollywood, July 25, 2017, in Los Angeles. Participant, the activist film and television studio that has financed Oscar winners like βSpotlightβ and socially conscious documentaries like βFood, Inc,β and βWaiting For Supermanβ is closing its doors after 20 years. Billionaire Skoll told his staff of 100 in a memo shared with The Associated Press on Tuesday, April 16, 2024, that they were winding down company operations. (Photo by Willy Sanjuan/Invision/AP, File)
FILE - Jeff Skoll arrives at the Los Angeles premiere of "An Inconvenient Sequel: Truth to Power" at the Arclight Hollywood, July 25, 2017, in Los Angeles. Participant, the activist film and television studio that has financed Oscar winners like βSpotlightβ and socially conscious documentaries like βFood, Inc,β and βWaiting For Supermanβ is closing its doors after 20 years. Billionaire Skoll told his staff of 100 in a memo shared with The Associated Press on Tuesday, April 16, 2024, that they were winding down company operations. (Photo by Willy Sanjuan/Invision/AP, File)
WSParticipant, the activist film and television studio that has financed Oscar winners like βSpotlightβ and socially conscious documentaries like βFood, Inc,β and βWaiting For Supermanβ is closing its doors after 20 years.
Billionaire Jeff Skoll told his staff of 100 in a memo shared with The Associated Press Tuesday that they were winding down company operations.
βThis is not a step I am taking lightly,β Skoll wrote in the memo. βBut after 20 years of groundbreaking content and world-changing impact campaigns, it is the right time for me to evaluate my next chapter and approach to tackling the pressing issues of our time.β
Since Skoll founded the company in 2004, Participant has released 135 films, 50 of which were documentaries and many of which were tied to awareness-raising impact campaigns. Their films have won 21 Academy Awards including and β ,β best documentary for βAn Inconvenient Truthβ and βAmerican Factoryβ and best international feature for βRoma.β
Participant was behind films like βContagion,β "Good Night, and Good Luck," βLincolnβ and βJudas and the Black Messiah,β the limited series βWhen They See Usβ and also which they rolled out this month. Their films have made over $3.3 billion at the global box office. But the company had a βdouble bottom lineβ in which impact was measured in addition to profit.
Skoll stepped back from day-to-day operations of the company years ago. Veteran film executive David Linde has been CEO of Participant since 2015, during which they had their βGreen Bookβ and βRomaβ successes.
βI founded Participant with the mission of creating world-class content that inspires positive social change, prioritizing impact alongside commercial sustainability,β Skoll wrote. βSince then, the entertainment industry has seen revolutionary changes in how content is created, distributed and consumed.β
Skoll added that their legacy βwill live on through our people, our stories and all who are inspired by them.β
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