Bingo Stars TV- A Colossal Failure
One of the ways companies use to change their company cultures is to bring in “new blood.” They change the CEO or the VP and make them the central director of where the company is headed. This is a way for companies to keep things fun and relevant to the market. Netplay TV is a company that is doing just that. The company announced that by the departure of their CEO Martin Higginson. He was with the company for five years and has now disbanded. Speculation says that his ideas for where the company was going is one of the reasons that he left; other speculations say that he failed to reach the goals laid out by the company throughout his tenure. Part of the issue came up with the company’s bingo division called Bingo Stars TV. Higginson failed to make this portion of the company as lucrative or reach the benchmark goals it had intended. Bingo Stars Television ended its operations just six months into its trial period of broadcast. It noted the initiative as a “colossal failure financially.” This could have been what sealed the coffin for Higginson and ended his stint at the company.
This is just one of the repercussions of the market. It isn’t stable yet—there are still a lot of changes coming into play and that is causing many companies to question their management board. If a project doesn’t take off like they anticipated, someone has to take the fall. In the above case Higginson took full responsibility for the project too, so it was on his shoulders to make it a success, or at minimum avoid complete failure. In the end the project is completely put on the shelf indefinitely but the company is still looking to rework its other divisions to absorb the losses. Hopefully they will be able to work with losses. Most likely the company will be fine. They currently have enough collateral and other projects on the table to bounce back relatively quickly. They are going to continue looking into bingo gaming however, they claim. This is not a dead issue and since bingo is popular, why wouldn’t they regroup and try again?
Tags: Bingo Stars, failure, Higginson, loss, Netplay
