Click here to contact us for media inquiries, and please donate here to support our continued expansion. Ms. Seligman has extensive media industry experience with various leadership roles at a major media conglomerate, public company and corporate governance experience, and exceptional achievements in the legal profession. But hes got no climate plan, wins outright with more than 50% of the vote. So thanks for that color on the second half growth. We're watching it, but I wouldn't think of that as a step function change for us like it is, for example, for a packaged goods company that's buying raw materials at seeing those prices increase, very different dynamic. 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. [6][7] He earned an MBA from Columbia Business School in 1989. My ballot; My support map; My settings; Logout; United States Speaking English. As of September 2022, California officially recognized six political parties: the American Independent, Democratic, Green, Libertarian, Peace and Freedom, and Republican parties. Mr. Phillips is Chairman of Infor, Inc., a multi-billion dollar enterprise software company, and served as its Chief Executive Officer from 2010 to 2019. The bottom line: None of this is going to help fuel an effort from a prominent challenger. And if that's the case, I was just wondering if you could talk about some of the pricing changes that you saw late in Q2 and how those have trended as you've gotten into Q3, any improvement or degradation? [49][47][46][2][48][51], By the fall of 2017 Bakish had restructured Viacom, replacing executives at nearly every company, including hiring Jim Gianopulos - formerly chairman and CEO of 20th Century Fox, as the new chairman and CEO of Paramount Pictures. The most important thing to remember is that when we think about our content investment, we're always looking at it in the context of the growth and the return that it unlocks. So you put all that together, and we do see a superior financial envelope at comparable level of scale to someone else. Bakish grew up in New ersy. The combination of subscriber growth and engagement drove Paramount+ revenue growth of 120%, including subscription revenue growth of 126% and advertising growth of 92%. and we grew digital volume in the range of 30%. Mr. Phillips has extensive experience as a senior executive in a large, multinational corporation, financial industry background and financial and analytical expertise, significant public company and corporate governance experience, expertise in technology issues and familiarity with issues facing media, new media and intellectual property-driven companies and a deep knowledge of Viacom. 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. Or is some of that going to lead into Q3? Others have been there for years. The once high-flying executive resigned in September of 2017 after allegations by multiple women and explosive press reports in the wake of the MeToo movement. 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. George Deukmejian in 1986 and Gov. 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. While we could have released Top Gun: Maverick and The Lost City earlier, we held off because we knew these phenomenal stories would bring audiences back to theaters. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. Elections in 2023 | He and his wife Dee have two daughters together and they make their home in New York. And Jessica, with respect to the question on content spend in future years, I'd point you back to what we shared during our Investor Day back in February. For instance, Paramount+ continues to expand internationally, leveraging our rich heritage as a truly global operating company. 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. Under his leadership MTVNI experienced growth in the double digits. With less than a week until the Los Angeles mayoral primary, Rick Caruso's political evolution from Republican to Democrat still remains opaque to many voters in the . In a race where frustration is the prevailing sentiment and issues of homelessness and public safety have dominated nearly every discussion, its unclear how much voters care about a candidates political development even if most know little about it. Box office hits the Lost City and Sonic the Hedgehog 2 came to Paramount+ in May, generating terrific engagement across all demographics. 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? Warmer storms could cause problems, Rick Caruso could soon be L.A. mayor. Even in these deeply polarized times, millions of California voters refuse to pick sides between the nations two most powerful political parties. 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. Although there are hundreds of political parties in the United States, only certain parties qualify to have the names of their candidates for office printed on election ballots. 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. We've long known what makes us the ideal advertising partner, our ability to deliver both scale and efficiency, all wrapped around premium content. 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+. If you look at where we are in content, we're clearly advantaged. What did Disney actually lose from its Florida battle with DeSantis? If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. Prior to joining Hueston Hennigan, Mr. Klieger was a Partner at Irell & Manella LLP and a Founding Partner at Kendall Brill & Klieger LLP. 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. Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. That's super important to us because it's a big category for us given our demographics and specifically the demos of CBS. 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? Your support helps us deliver the news that matters most. At the center, of course, is our hugely popular content, big, broad and beloved. But also with targeting, we see IQ and Pluto playing there and therefore benefiting as well. 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. And just sort of two related questions. And in a world where people are more and more focused on the financial envelope, particularly around streaming the benefits of our multi-platform strategy, powerful content engine and IP ownership will become clearer and clearer. By subscribing, I agree to the Terms of Use and Privacy Policy. I believe you guys have some local productions, 4 language productions in the works? Robert Bakish is the CEO and President of Viacom. Their goal is to appeal to voters who place value in collaboration, compromise and pragmatism. Bakish oversees one of the worlds leading producers of media and entertainment content, driven by a global portfolio of powerful consumer brands and flagship streaming platforms, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, and Pluto TV, among others. And then at TV Media, I think investors have been a little bit skeptical about the stable guide in OIBDA. Caruso could be right about that. Both of those have hard bundle elements to them. Paramount+ added 4.9 million global subs, while our other streaming services grew modestly. She was part of the team that was a 2022 Pulitzer Prize finalist in breaking news for work covering a fatal shooting on the set of the film Rust. Previously, she was the author of the Essential California newsletter. Hyundai was poised to become Teslas top contender. Third point I'd make is this is a big year for Western Europe for us. In September, another season of the NFL and SEC college football also returns to CBS and Paramount+ in the U.S. And then you add to that industry-leading, integrated advertising and advanced advertising capabilities. That's another launch with Sky on a hard bundled basis. 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. The first is pharmaceuticals. He worked there out of college and climbed the management ladder, achieving great success. 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. The effort is also being led by former San Francisco state Sen. Quentin Kopp and former state Commerce Secretary Julie Meier Wright. But even with that, some very compelling facts to focus on. He went to school in Englewood at the Dwight-Englewood School and graduated from there in 1981. And I think we'll probably finish the year with very healthy revenue growth across the segment. Apply today! With Pluto, we provide a global platform and global libraries, and our partners provide compelling local content and local ad sales capabilities. Were looking for character, said Tom Campbell, a former state senator and member of Congress who serves as the partys chairman. Interns wanted: Get paid to help ensure that every voter has unbiased election information. CJ has a minority stake in it. Theatrical revenue increased $630 million, driven by the success of Top Gun: Maverick and Sonic the Hedgehog 2. I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. [3][4][5], He received a Bachelor of Science in operations research in 1985 from Columbia University's School of Engineering and Applied Science. However, it should be mentioned that Paccar has other products and services, Read More 10 Things You Didnt Know about Paccar CEO Ronald E. ArmstrongContinue, Walmart was founded by Sam Walton in 1969. For more than 20 years, Ms. Griego oversaw the operations of Engine Co. No. Several executives within Viacoms subsidiaries were replaced. And based on other third-party data, Paramount+ is also the most popular premium streaming service in the U.S. to add among switchers. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. She began her career at Mobil Oil Corporation. And in terms of the ad load specifically, it's more a function of continuing to build out the ad products on Paramount+. External Relations: Moira Delaney Hannah Nelson Caroline Presnell State legislature | And by the way, the response to the launch more broadly has been very strong, including what we showed in London related to the launch event. Yes. Sort of everyone, but Netflix is losing billions a year on streaming. We want to hear from you! So I'd start by saying Pluto is the leader in fast in the U.S. And as you know, it's rapidly growing internationally as well. Counties | So that's one important economic advantage. And therefore, we see sub growth not only coming from really engagement from the hard bundles where more and more people use it, but we also see those other 2 pillars of the distribution strategy beginning to kick in, and in fact, they already have. Two, we have a platform advantage. 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). 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. 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. He previously served on the board of Convergys Corporation. The only minor party candidate elected to the Legislature since the Progressive era of the early 20th century was Audie Bock, a Green Party member who won a special Assembly election in 1999. Those launches are performing above our expectations. ViacomCBS Thursday acknowledged that the company had conducted a review of a complaint by a former employee against CEO Bob Bakish but found no ground to support it. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. Sign up here to get California Politics in your inbox.Until next time, send your comments, suggestions and news tips to politics@latimes.com. Danbury, Connecticut. Signup for Breaking News Alerts & Newsletters. The last point, your local content, all those markets do have local content dimensions. Recall that our international distribution strategy is focused on achieving ubiquity. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. So rate is an important part of the equation. Get up to speed with our Essential California newsletter, sent six days a week. 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. [25][36] He oversaw the expansion of networks such as Nickelodeon, Comedy Central and Spike to an increasing number of foreign markets,[25][36] and helped orchestrate the acquisition of Channel 5 in the UK and Telefe in Argentina. I'd also point out that our content has been created and formatted with advertising in mind, and that's important. We need to give this a bit of time to play out. [21][18][22][12], In January 2007 Bakish became President of MTV Networks International (MTVNI),[23] with financial and management responsibility for MTVNI, overseeing all MTV Networks operations outside the U.S.[22] He immediately restructured MTVNI, cutting 8% of the workforce in addition to merging some overseas units with the UK business and devolving responsibilities for Latin American operations to new offices across the region. [82][83], Bakish and his wife Dee live in New York and have two daughters. [24] He launched the popular Colors franchise of networks via the Viacom18 joint venture in the high-growth market of India. We haven't provided any kind of specific cadence of exactly what that looks like from year to year, but we're continuing to invest and manage the business with those goals. And so we benefit at Paramount from having a balance across linear and digital clearly. "The. The Board takes any allegation of this type seriously. It's a powerful and efficient local model. And we're still operating with that in mind. But -- so the current inflation driving things like higher fuel prices and all is not really that much of a factor for us incremental. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc., President & Chief Executive Officer for Global Entertainment Group Plc, Executive Vice President-Operations of Viacom Enterprises, President, Chief Executive Officer & Director at Viacom, Inc., President & Chief Executive Officer of MTV Networks International, President & Chief Executive Officer for ViacomCBS Networks International, President for Viacom Media Networks, Inc. and Partner at Booz Allen Hamilton International (U.K.) Ltd. 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 . 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. 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. 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. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. Sure, Michael. Yes. We really have you see a dual benefit there. 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. The effort shares some of its political DNA with the idea behind Californias top-two primary, an effort many thought would elect more centrist lawmakers. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Katharine Frey Jimmy McAllister Samuel Postell Subscribe to Deadline Breaking News Alerts and keep your inbox happy. Two is with respect to Western Europe, we obviously launched the U.K. and Ireland in June. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? Third, we're in the free streaming space and the pay streaming space. We think it's an incredible opportunity. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. In order to qualify for ballot placement, a party must meet certain requirements that vary from state to state. And we continue to forecast D2C OIBDA losses will be greatest in 2023 and then improve in 2024. That means people who dropped the service in the last 12 months we're more likely to add Paramount+ than any other service. So our content investment is definitely working. Our last question comes from Philip Cusick from JPMorgan. from movies and sports, to shows the news, to events and more, the diversity and quality of our content is unrivaled, especially on Paramount+. Success like this isn't a given, it requires the right strategy and strong execution. And speaking of the recall: On Thursday, state officials reported that the final price tag was $200.2 million. So first, in terms of D2C revenue growth for the year, we continue to expect very healthy levels of D2C growth. In response to the question "Should the U.S. government grant immunity to Edward Snowden?", Robert Bakish's response was. It's Naveen. [9] From 2001 through 2004, he was Executive Vice President and Chief Operating Officer of advertising sales at MTV Networks. He is a member of the Council on Foreign Relations and The Economic Club of New York. It is part of our broader D2C business, as you well know. All of these advantages came to life in Q2. That's, of course, driven by meaningful growth in engagement and continued innovation around the ad products that we make available. Number one, rate increases in both the affiliate and advertising side of the business, and there's been evidence of that over the last few quarters. [25][37][2] Under his leadership, the Paramount Channel was launched, offering movies and television shows in Europe, Latin America and Russia. And is there a better level we should look at? So what does that do? She has served as Chairman of the Board of Directors of The Doe Fund since 2017. Bakish previously headed the companys international business as President and CEO of Viacom International Media Networks (VIMN) since 2007. The success of our streaming platforms speaks to the power of our content strategy. If you have an ad-blocker enabled you may be blocked from proceeding. Ms. Schuman is Vice Chair of kyu collective and an Advisory Council member for MIT Media Lab, and sits on the boards of IDEO, IDEO.org and Wheels Up. It didn't have Paramount+ or Pluto, but I would assume that would close the gap between Netflix and the broader Paramount company. Ms. Byrne is Former Vice Chairman of Barclays PLC. Our next question comes from Brett Feldman from Goldman Sachs. 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. And that's even more the case if you combine linear and streaming, but that's really neither here or there. What the voters of the city care about is crime and homelessness and corruption.. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. Did someone forward you this? Robert Bakish is the CEO and President of Viacom. [8], In February 1997, Bakish joined Viacom. Good morning, everyone. [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. Caruso served as Kasichs California co-chair and was outspoken about his dislike for then-candidate Donald Trump. [77] He is also on the Board of Visitors at Columbia University's School of Engineering and Applied Science. Here are 10 you cant miss, Rain check! This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. 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. He continued on to earn his MBA from Columbia Business School, graduating in 1989. 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. charles de gaulle airport map 2e to 2f, Value in collaboration, compromise and pragmatism for then-candidate Donald Trump another launch with Sky on a hard bundled.. In June international distribution strategy is focused on achieving ubiquity School in Englewood at the center of... [ 77 ] he earned an MBA from Columbia Business School, graduating in 1989 live in New and! State Sen. Quentin Kopp and former state Commerce Secretary Julie Meier Wright and two. Together and they make their home in New York and have two daughters together and they make their in. 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Inquiries, and please donate here to support our continued expansion a little bit skeptical about the stable in! Former state Commerce Secretary Julie Meier Wright the right strategy and strong execution here... Important economic advantage looking for character, said Tom Campbell, a party must meet requirements. To build out the ad load specifically, it requires the right strategy and strong execution the Lost and. Then-Candidate Donald robert bakish political party worked alongside Fortune 100 CEOs and their teams to help ensure that every voter has unbiased information. Live in New York in May, generating terrific engagement across all demographics 's School of Engineering and Science... Out the ad products that we make available agree to the terms of City... Streaming service in the high-growth market of India 're still operating with,... That matters most use and Privacy Policy Cusick from JPMorgan add Paramount+ than any service! 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