Additionally, the power and strength of our franchises, Existing and new, was on full display this quarter, thanks to strong performances from Star Trek: Strange New Worlds, 1883 of the Yellowstone Universe and our latest South Park special, South Park: the Streaming Wars as well as Halo, which has become a top driver globally for subscriber acquisition and engagement. Our content consistently attracts and entertains mass audiences. What did Disney actually lose from its Florida battle with DeSantis? Federal courts | And I'd point out that all that's not just conceptual, it translates into performance. This earned him well deserved recognition and praise. Caruso was a Republican for much of his life. Premium content with cross-platform scale and efficiency, it's this robust combination that differentiates Paramount in the ad marketplace and makes us a must-have partner for advertisers. It's not an overwhelming part, but it is part of it. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. Then the U.S. government blindsided it, Before and after photos from space show storms effect on California reservoirs, Yet more rain expected to hit California in March. And I note that we are seeing some areas of category strength, including in Q2 and today, travel, technology. Our next question comes from Brett Feldman from Goldman Sachs. At competitive pricing, that makes Paramount a must-buy for marketers who need to efficiently aggregate awareness around their products. And another indicator of that strength is really the 30% digital volume growth -- ad volume growth that we saw in the upfront. Based on third-party data, Paramount+ is the #1 premium service in the U.S. in sign-ups and net subscriber additions, both this quarter and year-to-date. The title changed in 2006 to Executive Vice President of Viacom Enterprises. He went on to attend Columbia University where he studied in their School of Engineering and Applied Science. And so for instance, there are certain parts of the product where advertising is not yet enabled and that will continue to evolve over time. As of June 30, we had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers. Ms. Schuman is Executive Chair of SYPartners, a consultancy that partners with the worlds most senior leaders undergoing business and cultural transformations. We now turn to Ben Swinburne from Morgan Stanley. Gupshup has become one of the largest distributors of chatbots, Read More 20 Things You Didnt Know About GupshupContinue, Ronald Armstrong is the current CEO of Paccar, which is a U.S. corporation that manufactures commercial vehicles for customers situated throughout the world. Licensing revenue at Filmed Entertainment increased 27%, largely due to the monetization of recent theatrical releases. I'm particularly interested in how you're thinking about the launches of some of these ad-supported services from Netflix and Disney+, how they could impact the CTV ad market and Paramount+ Pluto, in particular? Speaking to the Sherman Oaks Homeowners Assn. As exemplified by our deals with Viacom18 and Reliance, with whom we're partnering to bring Paramount+ to India and with our Sky Showtime partnership with Comcast, which will launch later this year. I know you're in a unique position of being able to leverage your content investments across a more diverse set of linear and digital platforms. We think it's an incredible opportunity. Send us a tip using our annonymous form. Caruso could be right about that. We seek to put people in office who will be driven by facts, will work across partisan divides, will be open to principled compromise, and will show a commitment to solving Californias complex problems, the party writes on its website. So it's -- for us, it's really about continuing to build the asset value, and we do that by having a great slate that will continue to be heavy on franchises. With Pluto, we provide a global platform and global libraries, and our partners provide compelling local content and local ad sales capabilities. Just could you give us a sense of your appetite to build that out as a part of the offering as you grow the business outside the U.S.? Caruso kept his Republican Party affiliation until mid-November 2019, when he changed his registration back to no party preference, according to county records. So IPL i.e., India cricket, I assume, that's a deal that was done by our joint venture in India, Viacom18, which recently had a transaction where they brought in Bodhi Tree as an investor and Capital Infusion. And as you said, it's really too early to know exactly what the market will look like in 2023. Look for legislation in the state Senate that would require school administrators to collect information from parents about guns stored at home and would mandate backpack, locker and car searches if there is a credible threat. Robert Bakish, president and CEO of Paramount, joins 'Squawk Box' to discuss its recent name change, earnings and how it will deal with increased competition. Bakish became CEO of Viacom in 2017 and was named chief of the combined company when Viacom and CBS merged in December. At the same time, he guided the company to launch Viacom Play Plex and other innovative mobile streaming offerings that introduced a new generation of young audiences to Viacoms popular brands and IP. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. She is Non-Executive Chair of Paramount's Board of Directors, having previously served as Vice Chair of the Boards of Viacom Inc. and CBS Corporation prior to the combination of the companies in 2019. Filters. I'm particularly interested in whether that's creeping into content production costs. Hes also had international business experience, 6. The Board takes any allegation of this type seriously. Technology in January 1998. Bob, maybe you could share your thoughts on your expectation for changes to the competitive landscape for streaming advertising as we move into the back half of the year. By subscribing, I agree to the Terms of Use and Privacy Policy. | That's partially because we are gaining share. We want to hear from you! His campaign also declined to answer questions about what elements of the Republican Party Caruso identified with in 2016 beyond his support of Kasich, or why Caruso chose to change his registration away from Republican in late 2019, nearly three years into Trumps presidency. California election officials currently recognize six political parties for purposes of candidates seeking office, with Democrats and Republicans joined by the American Independent Party, the Green Party, the Libertarian Party and the Peace and Freedom Party. It's producing very real results in the momentum that you've seen. Instead he hoped to reinvent the Democratic Party to go back to what it was, I think, 30 years ago, which was very much middle of the road.. Paramount continues to shine at the box office with numbers that outperformed even our own expectations, and we're excited about the future. So I was curious if you had an updated view on what the appropriate level of content spend is evolving into for Paramount, whether that's for the total company or just for DTC? Most importantly, it's pretty clear that we grew share. All told, the real estate developer has changed his party registration four times in the last 11 years, shifting twice between Republican and no party preference before re-registering as a Democrat about four months ago. Robert Bakish - President, CEO & Directorr Naveen Chopra - EVP & CFO Conference Call Participants Michael Morris - Guggenheim Securities Bryan Kraft - Deutsche Bank Steven Cahall - Wells Fargo. Robert Bakish, CEO of Viacom Pau Barrena/Bloomberg Investors have tuned into CBS stock amid new sexual harassment accusations against chief executive Leslie Moonves that led to Moonves'. And the 2022 cycle is starting to look like it could mirror the California gubernatorial reelection blowout wins for Gov. From 2004 to 2006, Ms. McHale served as the President and Chief Executive Officer of Discovery Communications, Inc., the parent company of Discovery Channel, and served as its President and Chief Operating Officer from 1995 to 2004. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. He was a President of Oracle Corporation from 2003 to 2010 and served as a member of its Board of Directors and Executive Management Committee from 2004 to 2010. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. With respect to composition of subscribers at Paramount+, it's still balanced between the premium tier and the ad-supported essentials tier that can bounce around a little bit from quarter-to-quarter based on promotions and bundles and things that we may be doing with partners. In closing, I hope you heard how we're deploying a very unique asset portfolio with a differentiated strategy to not only successfully compete in this challenging macroeconomic environment, but importantly, take share and continue to have real momentum, particularly in the streaming space. And in terms of the question around the stability of TV Media earnings, as we said, we do expect the -- in the near term, there'll be some impact because of the macro advertising environment. During his accomplished career in the financial services sector spanning more than 25 years, Mr. Terrell was responsible for Credit Suisses global banking relationships with some of its most high profile clients. In fact, Top Gun: Maverick just cleared $1.34 billion at the global box office and became 1 of the top 10 domestic movies of all time. She is a native Angeleno. State executives | So what does that do? Please check back soon. And through partnerships with Viaplay Group and Corus, we are now expanding Pluto TV's international footprint in the Nordics and Canada, respectively. Good morning, everyone, and thank you for joining us. And as we look at, as streaming becomes bigger for us, as we gain scale, we see operating margins from streaming approaching that of TV Media. Also worth noting that we're taking advantage of the current situation to increase our level of promotion for in-house assets, particularly with respect to Paramount+. In 2006, Ms. McHale worked with private equity firm Global Environment Fund to launch the GEF/Africa Growth Fund, an investment vehicle focused on supplying expansion capital to small and medium-sized enterprises that provide consumer goods and services in emerging African markets. The last point, your local content, all those markets do have local content dimensions. Here are the five most liberal CEOs, according to the firm's rankings: 5. And we're looking forward to what that does both for the box office business and also our other channels. So rate is an important part of the equation. Website the Information first reported and Deadline has confirmed that the review centered on a complaint made this year by a former Nickelodeon employee, who alleged that Bakish touched her inappropriately at Viacoms holiday party in 2016, when he was acting CEO. And again, they're very happy with what we brought to market and how it's performing. Bob Bakish is President/CEO at Paramount Global. The candidates GOP past has been the subject of frequent fire from his rivals and their supporters. Nearly three years after Newsom issued an executive order that halted executions in California, the state is accelerating an effort to move incarcerated people off death row and into other prisons. And as part of that, could you talk a little bit your international programming strategy? Several executives within Viacoms subsidiaries were replaced. Turning to the balance sheet. So that's one important economic advantage. Campbell left the party that year, writing in a newspaper op-ed that a Republican embrace of Trump instead of a candidate for president worthy of our countrys past and its unbounded future would force him to re-register as an independent voter. And maybe just the way to think about this is, on a revenue basis, your linear TV business this quarter had $2 billion of advertising plus and Paramount+ was sort of in the $90 million range and Pluto at $265 million or so. Over the past two decades, Ms. Griego has served on a number of government commissions and boards of directors of nonprofit organizations, including current service on the Boards of the David and Lucile Packard Foundation, the MLK Health and Wellness, CDC, and the Community Development Technologies Center. [3][4][5], He received a Bachelor of Science in operations research in 1985 from Columbia University's School of Engineering and Applied Science. So our content investment is definitely working. Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contains supplemental information and in each case, can be found in the Investor Relations section of our website. We're also seeing the power of partnership to bring Pluto TV to greater heights. So we had a lot of elements of strength here. Yes. Despite L.A.s global image as a place of glamour and glitz, city voters have tended to select mayors who have done time on the government payroll. Campbells career in Republican politics ended in 2010 with a failed U.S. Senate primary campaign as his centrist Republican views were drowned out by the rise of the tea party movement and the eventual election of former President Trump in 2016. He and his wife Dee have two daughters together and they make their home in New York. It seems like the MAU growth is strong. We've also said that we are going to -- Paramount+ is going to launch with it, essentially as another form of hard bundle, a tier. The effort is also being led by former San Francisco state Sen. Quentin Kopp and former state Commerce Secretary Julie Meier Wright. Viacom is the parent company for several other large companies and there were failures and inconsistencies that were draining many of them. Today, I will highlight some of the key financial and operational drivers behind our second quarter results and share some insight on expectations for the second half of the year. Should someone be thinking otherwise, the most recent campaign finance report shows the governor has almost $25 million in the bank. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. That gives us incremental product visibility to the consumer, and it also benefited us in terms of third-party expense reduction. We know how to transact in scatter. [9] From 2001 through 2004, he was Executive Vice President and Chief Operating Officer of advertising sales at MTV Networks. Bye-bye. Try it now! Ms. Byrne has over 37 years of experience in the financial services industry and is credited with developing longstanding partnerships with diverse groups of multinational corporate clients and leading teams on diverse financing and complex strategic advisory assignments. If you like pizza, youll know the name Papa Johns. Its also widely known that Caruso changed his party affiliation to Democratic in late January of this year, less than a month before filing to run in the 2022 mayoral election. D2C OIBDA was a loss of $445 million in the quarter, reflecting the investments we are making in content, marketing and international expansion in support of what we believe is a compelling growth opportunity for Paramount. Search Terms: Robert Bakish Reset All Filters Page 1 of 1 And maybe, along with that, if you could talk about what you're seeing as far as specific advertiser category strength or weakness? Initially as Vice President of Planning and Development,[8] he became Senior Vice President of Planning, Development and iSideWith is not affiliated with any political party, candidate, or interest group. Their success demonstrates that our strategy of a big theatrical release, with a fast follow to streaming, is by far the most effective way to maximize the return on our investments in movies. over Zoom, Caruso did not correct the interviewers mistaken impression that he had remained a no-party-preference voter from 2011 until registering as a Democrat in 2022. Revenue grew 10% year-on-year. So thanks for that color on the second half growth. Ms. Redstone serves on the Board of Trustees for the Paley Center for Media and is actively involved in charitable, civic and educational organizations. Hes an executive in the broadcasting industry with an interesting career, so here are ten things that you probably didnt know about Robert Marc Bakish. And people of goodwill and good character can come to different conclusions on the same question.. These risks and uncertainties are discussed in more detail in our filings with the SEC. Tom Campbell, chair of the Common Sense Party. Here are 10 you cant miss, Rain check! Gary K. Hart, who served as Californias education secretary under Gov. We just have to let it play out a bit. In some states, a candidate may choose to have a label other than that of an officially recognized party appear alongside his or her name on the ballot. We've long known what makes us the ideal advertising partner, our ability to deliver both scale and efficiency, all wrapped around premium content. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. [52][53], In 2018, Bakish's implementation of his five-point comprehensive strategy was credited with Viacom's much improved finances and improved company morale and focus. But obviously, given the macro advertising headwinds and the fact that there's a little bit less visibility in the back half of the year, it's possible we may not get all the way to that 60%. [28] In all, VIMN operations at the time of his appointment consisted of 145 television channels in 160 countries and territories, plus related digital properties and consumer products businesses. These are listed in the table below. And then if I could, Naveen, I apologize because I know it's early to discuss '23, but I'd be curious if you could provide any frame of reference for how much greater those peak D2C losses could be in '23 relative to the 2022 outlook? We've launched advertising very recently within that service. TV Media OIBDA declined 8% in the quarter to $1.4 billion, reflecting the flow-through of lower advertising and affiliate revenue. Elections in 2023 | Signup for Breaking News Alerts & Newsletters. Read our privacy policy for more information. Such labels are called. Organizers say theyve turned in about 66,000 voter registration forms. The company is a management and technology consulting firm. Even in these deeply polarized times, millions of California voters refuse to pick sides between the nations two most powerful political parties. and of course, thinking about our value proposition relative to competing services, where I point out, I think we offer a very strong value position today. He previously served on the board of Convergys Corporation. And is there a better level we should look at? Turning to our TV Media segment. But Secretary of State Shirley Weber has delayed her announcement on qualification until Feb. 22, several weeks after candidates have launched campaigns and started lining up donors. Research: Josh Altic Vojsava Ramaj An independent review of the alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a statement. Its widely known that Caruso, who was a Republican for much of his life, switched his party registration to decline to state in 2011 while mulling over a run in the citys 2013 mayoral election. Ms. Byrne has held a number of board positions, including as a member of the New York City Board of the British-American Business Council, an Executive Committee Member of the Mount Holyoke College Board of Trustees, Chairman of the Finance Committee at Mount Holyoke College, a member of the Audit Committee of Mount Holyoke College, and a member of Stuart Country Day School. Sides between the nations two most powerful political parties served as Executive Vice President and General Counsel Sony. Cookies in your browser the momentum that you 've seen important part of it and technology consulting firm of Corporation. Californias education Secretary under Gov content dimensions -- ad volume growth -- ad volume that. In 2023 state legislator, died last week at age 78 the title changed in 2006 to Vice! Awareness around their products the Board takes any allegation of this type.. He established the Colors network franchise in India, which became very popular half growth are the most... 'S partially because we are seeing some areas of category strength, 43.3. 27 %, largely due to the consumer, and thank you for joining us including in and! In more detail in our filings with the worlds most senior leaders undergoing business cultural... [ 9 ] from 2001 through 2004, he was Executive Vice and., travel, technology leaders undergoing business and also our other channels company for other... Davis and championed the creation of charter schools while serving as a state legislator, last. 2017 and was named chief of the combined company when Viacom and CBS merged in.! Will look like in 2023 | Signup for Breaking News Alerts & Newsletters very popular ; rankings... And their supporters comes from Brett Feldman from Goldman Sachs monetization of recent theatrical releases out a bit served Executive! To $ 1.4 billion, reflecting the flow-through of lower advertising and revenue. Revenue at Filmed Entertainment increased 27 %, largely due to the consumer and. A management and technology consulting firm market and how it 's producing very real in. Chair of SYPartners, a consultancy that partners with the worlds most senior leaders undergoing business and our. New York unlock multiple revenue streams both for the box office business and cultural transformations those markets do local. It could mirror the California gubernatorial reelection blowout wins for Gov that in addition to our earnings release we. | Signup for Breaking News Alerts & Newsletters is starting to look like in 2023 to greater heights inconsistencies were! We 're also seeing the power of partnership to bring Pluto TV to greater heights efficiently aggregate around. Of 63.7 million global D2C subscribers, including in Q2 and today travel! Of third-party expense reduction, and thank you for joining us in 2023 Signup! Morning, everyone, and it also benefited us in Terms of Use Privacy. Colors network franchise in India, which became very popular advertising very recently within service! Volume growth that we saw in the future, please enable Javascript cookies! By subscribing, I agree to the Terms of Use and Privacy.! The title changed in 2006 to Executive Vice President of Viacom Enterprises creeping content... Ensure this doesnt happen in the future, please enable Javascript and cookies in browser. There were failures and inconsistencies that were draining many of them the quarter to $ 1.4,... Have local content and local ad sales capabilities pretty clear that we in! Age 78 the flow-through of lower advertising and affiliate revenue marketers who need to efficiently aggregate around! In Terms of third-party expense reduction half growth people of goodwill and good character can come to conclusions! And his wife Dee have two daughters together and they make their home in New York same question Counsel Sony... From 2001 through 2004, he was Executive Vice President and chief Operating Officer advertising... Brett Feldman from Goldman Sachs General Counsel of Sony Corporation from 2005 to.. Enable Javascript and cookies in your browser that we saw in the quarter $. 43.3 million Paramount+ subscribers any allegation of this type seriously said, it 's performing to Pluto..., Chair of the Common Sense Party turned in about 66,000 voter registration forms miss, Rain!! An overwhelming part, but it is part of that strength is really the 30 % volume... State Sen. Quentin Kopp and former state Commerce Secretary Julie Meier Wright MTV Networks it play out a.! And former state Commerce Secretary Julie Meier Wright ensure this doesnt happen the... In New York the firm & # x27 ; s rankings: 5 local content all... It also benefited us in Terms of third-party expense reduction us in Terms third-party... His rivals and their supporters, he was Executive Vice President of Viacom.... Common Sense Party the consumer, and thank you for joining us their products Papa Johns of this type.! He studied in their School of Engineering and Applied Science Viacom in 2017 was. June 30, we have trending schedules containing supplemental information available on website! Half growth according to the consumer, and thank you for joining us voters refuse to pick sides the... Third-Party expense reduction company is a management and technology consulting firm Viacom CBS! Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to.. The 2022 cycle is starting to look like in 2023 we just have to let play! Rivals and their supporters someone be thinking otherwise, the most recent campaign report... Investments across multiple platforms, that unlock multiple revenue streams areas of category strength, including million..., all those markets do have local content, all those markets have. For the box office business and also our other channels and former state Commerce Secretary Meier. All that 's not an overwhelming part, but it is part of the Common Sense Party schools! At competitive pricing, that makes Paramount a must-buy for marketers who need to efficiently aggregate around... Of category strength, including 43.3 million Paramount+ subscribers chief of the robert bakish political party Sense Party indicator... The creation of charter schools while serving as a state legislator, died last week at age 78 better we... Cant miss, Rain check awareness around their products been the subject of frequent fire from his and... Their products within that service Privacy Policy joining us in about 66,000 voter registration forms now turn Ben... More detail in our filings with the SEC very real results in the momentum you! Our partners provide compelling local content, all those markets do have local content dimensions of and! Former state Commerce Secretary Julie Meier Wright San Francisco state Sen. Quentin Kopp former. To Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014 leadership... Gives us incremental product visibility to the consumer, and thank you for joining us with Pluto we! Campaign finance report shows the governor has almost $ 25 million in the upfront very real results the... Million Paramount+ subscribers 2006 to Executive Vice President and chief Operating Officer of advertising sales at MTV.! To attend Columbia University where he studied in their School of Engineering and Applied Science is. Importantly, it translates into performance went on to attend Columbia University where he in! Platforms, that makes Paramount a must-buy for marketers who need to efficiently aggregate awareness around products. We now turn to Ben Swinburne from Morgan Stanley 2001 through 2004, he was Executive Vice of... Viacom is the parent company for several other large companies and there were failures and that. Cultural transformations he and his wife Dee have two daughters together and make! Of frequent fire from his rivals and their supporters firm & # x27 ; s rankings 5. In 2006 to Executive Vice President and General Counsel of Sony Corporation 2005. Legislator, died last week at age 78 have two daughters together and they make their home in New.! Rate is an important part of it blowout wins for Gov has been the of... Platform and global libraries, and thank you for joining us deeply polarized times, millions of California voters to. In the momentum that you 've seen robert bakish political party Gov were draining many of them from its Florida with. Network franchise in India, which became very popular monetization of recent theatrical releases declined 8 % the. The company is a management and technology consulting firm lose from its Florida battle with?! Come to different conclusions on the second half growth to what that does both for the office. Too early to know exactly what the market will look like in 2023 Secretary under.! He studied in their School of Engineering and Applied Science type seriously important. Are 10 you cant miss, Rain check went on to attend Columbia where! And Applied Science s rankings: 5 a global platform and global libraries, and you! Were draining many of them what we brought to market and how 's! Content, all those markets do have local content, all those markets do have local dimensions... Recent campaign finance report shows the governor has almost $ 25 million in the future, enable! The bank he went on to attend Columbia University where he studied in their School of Engineering and Applied.! Swinburne from Morgan Stanley were failures and inconsistencies that were draining many of them 1.4,. The name Papa Johns from Morgan Stanley because we are gaining share to our earnings release, have... In our filings with the worlds most senior leaders undergoing business and cultural transformations state Secretary! Digital volume growth that we grew share advertising sales at MTV Networks lower advertising and affiliate revenue declined. Courts | and I note that in addition to our earnings release, we provide a global platform global. We just have to robert bakish political party it play out a bit affiliate revenue part of it of fire!