How to respond to budget cuts and better compete in the global marketplaceDespite governmental and economist statements to the contrary, a review of content-buying companies' Q4 earnings , news reports , think tank analyses , and layoffs suggest that many in the Media and Entertainment (M&E) industry believe a recession is already upon us. Amazon , AMC , Roku , DirecTV, Warner Brothers , and others have responded to the threat by announcing job, budget, and production cuts.