Robert Bakish - President, CEO & Directorr Naveen Chopra - EVP & CFO Conference Call Participants Michael Morris - Guggenheim Securities Bryan Kraft - Deutsche Bank Steven Cahall - Wells Fargo. TV Media advertising declined 6% in the quarter as pricing growth only partially offset the impact of lower linear impressions and a 2% headwind from FX. So we're continuing to move forward. [60][61][62][63][64] In April 2018, Viacom launched Viacom Digital Studios, which will create new original content hosted on sites such as Facebook, Twitter and Snapchat. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. 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. 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. Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. [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. His track record speaks for itself: from serving as Trumps economic advisor, to backing antiabortion and pro-NRA politicians like Mitch McConnell, fellow mayoral candidate and L.A. City Councilmember Kevin de Len said. [74], Bakish retained the role of CEO when CBS Corporation and Viacom reunited under a single company to form Paramount Global (then known as ViacomCBS), which closed on December 4, 2019. It helps our content economics. For instance, Paramount+ continues to expand internationally, leveraging our rich heritage as a truly global operating company. The news of the probe of Bakish comes several years after the CBS side of the company was tainted by a highly public sexual misconduct scandal focused on former CBS CEO Les Moonves. [33] During his tenure, Bakish expanded Viacom's international footprint,[26][36] and VIMN was Viacom's most successful division; revenue doubled, and VIMN grew to more than 200 television channels. By subscribing, I agree to the Terms of Use and Privacy Policy. If you are Robert Bakish, . Use of this site constitutes acceptance of our user agreement and privacy policy. The success of our streaming platforms speaks to the power of our content strategy. We also expect to see continued meaningful contributions from the licensing side of that business, which is enabled by a combination of both an incredible catalog and unique production capabilities. 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. But thats not what pollsters at the nonpartisan Public Policy Institute of California have found. And then at TV Media, I think investors have been a little bit skeptical about the stable guide in OIBDA. Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. Research: Josh Altic Vojsava Ramaj 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. The combination of our content, platforms and strategy ensures we can reach the largest total addressable market, generate strong returns on content investment and create devoted fan followings taking full advantage of our deep and growing library of valuable IP. Third point I'd make is this is a big year for Western Europe for us. He also sits on the Avid Technology Board of Directors. He served on President Obamas Economic Recovery Board, led by Paul Volcker, and is a member of the Council on Foreign Relations. We now turn to Steven Cahall from Wells Fargo. But there are real reasons that we see this path to superior margins. For the second consecutive year, Robert Bakish, Viacom's CEO was not invited, an unusual move that pits one of Corporate America's most prominent media executives whose power may grow in the. 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. Paramount continues to shine at the box office with numbers that outperformed even our own expectations, and we're excited about the future. Our last question comes from Philip Cusick from JPMorgan. What the voters of the city care about is crime and homelessness and corruption.. What the dollar commitment -- your commitment is and what your goals are there? The existing parties have detailed platforms calling for specific policies that are generally to the established left or right on the political spectrum. P Plus customers are watching a greater number of unique titles today than ever before. And we're looking forward to what that does both for the box office business and also our other channels. We've got more captivating content on the way, and our multi-platform approach will drive even more viewers to streaming. Thank you, Bob, and good morning, everyone. Later this year, the biggest show on television, Yellowstone, returns for its fifth season to the Paramount Network in the U.S. Ballotpedia features 395,441 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. You may now disconnect your lines. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. Bob Bakish is President/CEO at Paramount Global. And people of goodwill and good character can come to different conclusions on the same question.. All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. As such, in the second half of the year, we expect TV Media OIBDA to return to modest growth on a year-over-year basis. Until March 2016, Ms. Seligman served as the President of Sony Entertainment, Inc. (beginning in 2014) and of Sony Corporation of America (beginning in 2012), and as Senior Legal Counsel of Sony Group (beginning in 2014). 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. That matters. In 1999, she was named as the first woman to chair a major New York law firm, a position she held for 17 years. Importantly, Bakish created a new, unified global streaming organization and strategy to maximize Paramount content across pay, free and premium streaming services spotlighted by Paramount+, Pluto TV and Showtime OTT. Many, many globally renowned franchises, backed up by a deep library, I mean the economic value of going and trying to replace that library, I don't even know what it would be. The leading global brands in entertainment, We tell rich stories that are highly relevant to our audiences. Yet again, evidence, we are taking market share. So very good supply side equation. Or is some of that going to lead into Q3? A runoff election with the top two vote-getters will be held in November unless a candidate wins outright with more than 50% of the vote in the primary. 2023 iSideWith.com. My beliefs; My parties; My ballot; . Please check back soon. Elections in 2023 | It's Naveen. Menu Candidates > Robert Bakish > Ideology. Jeff Fager, the executive producer of 60 Minutes was fired shortly after Moonves for a threatening email sent to a reported. Send us a tip using our annonymous form. So local is very much part of our strategy in the mix. Bakish is responsible for turning the Viacom company around and improving its financial situation. We have a very strong proposition in the marketplace. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? [9] From 2001 through 2004, he was Executive Vice President and Chief Operating Officer of advertising sales at MTV Networks. So we're very excited about the future. But nonetheless, we have experience, we have assets, we have relationships, and those provide real leverage, including in streaming. MAUs are now at basically $70 million because we're getting great consumer traction and engagement, time spent, et cetera on Pluto continues to grow. Share. But in a competitive market, scale isn't enough. But even with that, some very compelling facts to focus on. It's not an overwhelming part, but it is part of it. Mr. Klieger is a Partner in the Los Angeles law firm Hueston Hennigan LLP. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. 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. 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. Compensation Committee Chair, Audit Committee Member. Voters seeking to better understand his zigzagging political transformation will find few answers in his $25-million barrage of advertisements. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Starting with direct-to-consumer. Campbells group rightly points out that parties are allowed to raise large sums of money to win elections, while independent no party preference candidates are limited to the relatively small donation limits for individual contributors. 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