At present, statistics as an academic career is not only experiencing an identity crisis, but is also fighting for survival as a vital and vibrant career choice. Good financial benefits, as well as the increasing demand for applied statisticians, have opened up very attractive career opportunities for statistics graduates, while at the same time eroding the viability of pursuing statistics as an academic teaching profession. As a result, the number of students wishing to teach statistics at universities is dwindling, and the number of vacancies in statistics departments at higher education institutions has increased. This article explores some of the reasons for the above, as well as the impact of the crisis on academic statistics. The article considers possible solutions - like opening the discourse on the future of academic statistics, taking students' experiences seriously, the Africanisation of the curriculum, the effective use of technologies, ongoing research, and adequate financial reward.