Digital content company Defy Media has laid off approximately 20 of its staff in a bid to focus on it's more successful ventures.
Defy owns and operates a number of popular YouTube brands and channels including Smosh, Screen Junkies and The Escapist.
According to Variety, the company is cutting back on a couple of divisions, those being programmatic advertising, licensing and video syndication.
In an interview, CEO Matt Diamond said the company is winding down “tactical businesses” that were unprofitable.
“The changes we made in personnel were to solidly focus the company on owned-and-operated brands.” Diamond said.
“For us, we feel strongly that being profitable and building around your brands is critical in this market.”
Defy's decision to make these cuts is driven by an attempt to streamline the business, Diamond told Variety.
Defy is led by it's original content brands, listed above. However, the company is also leering towards TV projects in an 'opportunistic manner'.
The company also raised $70 million in a funding round in late 2016. Notable investors included Viacom, Lionsgate and ABS Capital.