iSideWith is not affiliated with any political party, candidate, or interest group. But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. 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. HIGHLIGHTS. 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. But we are still focused on managing the business to peak losses in '23, and then starting to see improvements in earnings, both for the D2C segment and the consolidated business as a whole beyond that as we move toward our long-term D2C revenue and subscriber goals. I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. In the interim, thanks again for your time, and be well, everyone. And in terms of the ad load specifically, it's more a function of continuing to build out the ad products on Paramount+. At the center, of course, is our hugely popular content, big, broad and beloved. Robert Bakish is the CEO and President of Viacom. And then more broadly, one of the questions we get from investors as they think through the impact of inflation is pricing power. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. TV Media affiliate revenue declined 3% in the quarter. Los Angeles, Review: A reimagined Secret Garden fails to flower anew at the Ahmanson Theatre, High school basketball: Southern California and Northern California Regional results and updated pairings, Im visiting all 600 L.A. spots on the National Register. Moonves was formally fired with cause in December, forfeiting as much as $120 million in severance. Shortly after changing his registration in 2016, Caruso told Los Angeles Magazine that he had made the switch so that he could vote for John Kasich in the Republican presidential primary that year. Prior to that, Mr. Nelson held several executive finance and operating roles, beginning in 2003 with Cendant Corporation, including as its Chief Financial Officer and President and a member of its board from 2003 to 2006. 28, a prominent restaurant in downtown Los Angeles that she founded in 1988. Please check back soon. 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. Organizers say theyve turned in about 66,000 voter registration forms. Importantly, Yellowstone's linear premier will support the streaming launch of Taylor Sheridan's latest original for Paramount+, Tulsa King, which debuts November 13 and stars the one and only, Sylvester Stallone. Nowhere is our popularity more evident than at the box office. Audit Committee Member, Compensation Committee Member. We continue to look at how we optimize the tiering along with that, but it's part of a broader overall ARPU story. Ballot measures, Who represents me? Licensing revenue at Filmed Entertainment increased 27%, largely due to the monetization of recent theatrical releases. And as you pointed out, our content dollars are used differently than many of our peers. The chance of a lifetime: Five friends ski the tallest mountain in Los Angeles, Shocking, impossible gas bills push restaurants to the brink of closures, Best coffee city in the world? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. [41][37][42][43] Simultaneously, he was also appointed President and CEO of the newly created Viacom Global Entertainment Group, combining Viacom International Media Networks (VIMN) with Viacom's Music and Entertainment group, which includes MTV, Comedy Central, VH1, Spike TV and Logo TV; two additional networks, TV Land and CMT, also joined the Global Entertainment Group. Public policy, Communications: Alison Graves Carley Allensworth Abigail Campbell Sarah Groat Caitlin Vanden Boom So maybe not for this year, but are we approaching a period where you could see more meaningful step function improvements in Filmed Entertainment's profitability? Jerry Brown in 2014. As we look ahead in this ad market, there's 2 things I'd note. Use of this site constitutes acceptance of our user agreement and privacy policy. Rick Caruso fields media questions on Thursday. She has served as Chairman of the Board of Directors of The Doe Fund since 2017. iSideWith shows which candidates you side with based on the political issues selected most important to you. Following is the unofficial transcript of a CNBC interview with Paramount President and CEO Bob Bakish on CNBC's "Squawk Box" (M-F 6AM - 9AM ET) today, Wednesday, February 16 th.Following is a . And then obviously, on the advertising side, we're very happy with what we've seen in the upfront, both in terms of price increases and what we've been able to do from a volume perspective. We now turn to Rich Greenfield from LightShed Partners. On the positive side, TV clearly remains resilient on a relative basis, and that's a function of a very tight supply. How to run for office | And as part of that, could you talk a little bit your international programming strategy? External Relations: Moira Delaney Hannah Nelson Caroline Presnell 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. Paramount+ ARPU improved on a sequential basis in Q2, with both domestic and international ARPU higher versus Q1. And if you look at our total D2C ad business in the quarter, including Pluto TV, that grew 25%. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. [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. 2023 Deadline Hollywood, LLC. Caruso leaves Grand Central Market on Thursday. Robert Bakish is the CEO and President of Viacom. Which brings us to whether the Common Sense Party can compete this year. Hyundai was poised to become Teslas top contender. For more than 20 years, Ms. Griego oversaw the operations of Engine Co. No. He has been President and CEO of Paramount Global since December 4, 2019, formerly holding the same position at Viacom before the merger with CBS Corporation. June 2, 2022 2:27 PM PT. Millions of new customers are signing up for our streaming services. It is part of our broader D2C business, as you well know. He is a male registered to vote in Connecticut. And then just to go back to the content spend, could you at least talk about like step function in increasing content spend '23 versus '22 and '24 as well? He is a member of the Board of Directors of the Federal Reserve Bank of New York, the Apollo Theater, Business Executives for National Security and the New York Police Foundation. The issue is a sensitive one for companies, ViacomCBS in particular. And at this scale, we offer advertisers access to a wide variety of audiences across every demographic. But our amazing content isn't limited to the silver screen. So when Netflix published its Q2, it showed this chart that had minutes viewed, and I think CBS was actually #2 behind Netflix. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. Me; Robert Bakish; Economic Freedom. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. But in the years since, he latched onto the idea of a political party that would welcome differences of opinion and whose members would value the pursuit of common ground. Prior to Oracle, Mr. Phillips was a Managing Director at Morgan Stanley in the Technology Group and served on its Board of Directors. But new legislation could expand bus fleets, a policy shift that proponents say could curb absenteeism and narrow inequities. His opinion is highly valued in the entertainment business industry and beyond. I'll start this morning by talking about Q2 highlights and preview what's next. And so it will be a real engine for streaming, and then Paramount+ will benefit by being part of that, even though we're not directly investing on an O&O basis, we're obviously part of the joint venture. Ms. Byrne is Former Vice Chairman of Barclays PLC. But I care deeply, Campbell said. 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. [6], After receiving his MBA, Bakish joined the management and technology consulting firm Booz Allen Hamilton in 1990, and rose to become a partner in its media and entertainment practice. [54][55] In 2018, under Bakish's direction and in accordance with his plan to capture younger and digital markets, Viacom acquired digital platform WhoSay,[56][57] internet video conference VidCon,[58][56][57] and online television network AwesomenessTV. Newsoms worst year in office, by this standard, was his first: Only 44% of adults surveyed approved of his work in polls conducted at the beginning and near the end of 2019. Julia Wick is a Metro reporter for the Los Angeles Times covering City Hall and the 2022 Los Angeles mayoral election. Those windows are now expanding in terms of -- it's not just about box office and home entertainment and then going to third parties, we can generate a lot of value out of those assets on our streaming services. Read our privacy policy for more information. Use of this site constitutes acceptance of our user agreement and privacy policy. So a couple of things to say. By the end of the year, inclusive of Paramount+ and Sky Showtime, we expect to have our subscription video-on-demand services in 60 total markets. Gary K. Hart, who served as Californias education secretary under Gov. I'd note that the supply side of Pluto continues to track very strongly. 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. She practiced corporate law, estate planning and criminal law in the Boston area before joining National Amusements. Several executives within Viacoms subsidiaries were replaced. One on content spend and one on film entertainment, if I could. Speaking to the Sherman Oaks Homeowners Assn. In this role, which he assumed in December 2019, Bakish is responsible for growing the company's creative assets, content capabilities and streaming services to serve important and diverse audiences, which consume over 30 billion hours of Paramount content globally across more than 180 countries. Thank you, Bob, and good morning, everyone. And we have many partnerships with important people in front of and behind the screen working with us to make shows. Our first question today comes from Michael Morris from Guggenheim Partners. 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. Mr. Nelson served as a consultant to Avis Budget Group, Inc. until May 2019. We look at impression delivery, and it's in line with our expectations for the beginning of the year. And we regularly see the value of serving consumers that don't pay for streaming as well as the ones that do, and obviously, the associated ad access. Please disable your ad-blocker and refresh. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. When I say audiences, I don't just mean kids or adults, I mean the whole household, not just the coast, but the entire country, not just the U.S.. but the entire world, not just the streaming audience, but the TV, theatrical and streaming audience. It's not an overwhelming part, but it is part of it. Yes, sure, Ben. John Myers led the Los Angeles Times coverage of state government as Sacramento bureau chief from 2015 to June 2022. The last point, your local content, all those markets do have local content dimensions. We now turn to Jessica Reif Ehrlich from Bank of America Securities. Ms. Seligman has served on the board of Far Point Acquisition Corporation since 2018 and the board of MeiraGTx Holdings plc since 2019, and has been a Non-Executive Director of WPP plc since 2014 and its Senior Independent Director since 2016. What does that ad load look like in revenue from here? And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. 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 is there a better level we should look at? Share. [65][66][67][68][69] In addition, later that June, Bakish announced that Viacom will produce some new series exclusively for Netflix, beginning with Nickelodeon-related content. 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. An independent review of the alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a statement. She also enjoys creative writing, content writing on nearly any topic (particularly business and lifestyle), because as a lifelong learner, she loves to do research and possess a high skill level in this area. That would bring the number down to 56,000 voter registrations (theres some irony in the swelling ranks of non-party voters actually making it easier to create a new party). He's held the position since December of 2016 after working several years with the company. All rights reserved. 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+. 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. At competitive pricing, that makes Paramount a must-buy for marketers who need to efficiently aggregate awareness around their products. But even with that, some very compelling facts to focus on. Sure, Michael. Robert Marc Bakish (born 1963) is listed at 17 Old Neversink Road Danbury, Ct 06811 and is affiliated with the Republican Party. Our quarter end totals reflect the removal of 3.9 million D2C subs in Russia, of which 1.2 million were from Paramount+, consistent with our plan to remove these subscribers from our reporting. We see our partners responding enthusiastically. Only three other parties have ever had full status in California in the past quarter-century all three ultimately failed to retain enough registered voters. So in closing, we're continuing to create value across our business, from theatrical, to streaming, to advertising. He also has a wife and kids. Today's call is now concluded. But I think the question that sort of every investor on this call is thinking about is as the business shifts from linear to digital, meaning CBS sort of shrinks in share and Paramount+ and Pluto growing their share, can Paramount maintain sort of aggregate time spend? Revenue grew 10% year-on-year. And maybe, along with that, if you could talk about what you're seeing as far as specific advertiser category strength or weakness? iSideWith.com is the worlds most popular voting guide for citizens to find information about elections, political parties, candidates, voting districts and popular political issues in their country. Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. For instance, Paramount+ continues to expand internationally, leveraging our rich heritage as a truly global operating company. For the full year, our outlook for stable year-on-year OIBDA at Filmed Entertainment remains unchanged. I'd also point out that our content has been created and formatted with advertising in mind, and that's important. Success like this, 5 #1 films at the box office, Top Gun, Scream, Jackass Forever, The Lost City and Sonic the Hedgehog 2, which, by the way, also made history as the biggest video game opening of all time. The existing parties have detailed platforms calling for specific policies that are generally to the established left or right on the political spectrum. Do Not Sell or Share My Personal Information, changed his party affiliation to Democratic, Man arrested in connection to 7 bombings in Fresno has links to hate group, authorities say, Vote on LAPD transit patrols sparks City Hall debate over safety on Metro system, UCLA, UCSF hospital nurses voice complaints about overcrowding, staffing shortages, Before and after photos from space show storms effect on California reservoirs, Dramatic before and after photos from space show epic snow blanketing SoCal mountains, Yet more rain expected to hit California in March. 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. And we continue to forecast D2C OIBDA losses will be greatest in 2023 and then improve in 2024. Second, look, we've been in a multi-platform ad business for years, and that gives us very high quality reach and scale of over 1 trillion ad impressions per year across all demographics. Starting with direct-to-consumer. He led the revitalization and evolution of Viacoms core businesses, returning the company to growth, and extending its leadership across multiplatform entertainment content, next-generation distribution and advertising.
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22