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And did you see the whole benefit of the initial launch in Q2? 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. Sign up here to get California Politics in your inbox.Until next time, send your comments, suggestions and news tips to politics@latimes.com. 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. And it's highly coveted by advertisers. I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. Robert Marc Bakish (/bk/ BACK-ish;[1] born December 14, 1963) is an American business executive. She joined Sony in 2001 and served in a variety of other capacities during her tenure, including as a Corporate Executive Officer and Group Deputy General Counsel of Sony Corporation, and as General Counsel and an Executive Vice President at Sony Corporation of America, a subsidiary of Sony Corporation. 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? So what does that do? In 1999, she was named as the first woman to chair a major New York law firm, a position she held for 17 years. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Katharine Frey Jimmy McAllister Samuel Postell In the early stages of the pandemic, we were very selective with our releases, holding certain films until market conditions improve. [8], In October 1999, he became the Executive Vice President of Planning and Business Development of Viacom's subsidiary MTV Networks. And the 2022 cycle is starting to look like it could mirror the California gubernatorial reelection blowout wins for Gov. That's tracking very well. Kasich dropped out of the race in May 2016, and Caruso did not vote in that years primary, according to county records. Lloyd Blankfein, Goldman Sachs ( GS ). 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. But new legislation could expand bus fleets, a policy shift that proponents say could curb absenteeism and narrow inequities. [Operator Instructions]. 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. Sure, Brett. And we continue to see very healthy levels of growth there, 56% D2C revenue growth in the quarter. In September, another season of the NFL and SEC college football also returns to CBS and Paramount+ in the U.S. Others have been there for years. Success like this isn't a given, it requires the right strategy and strong execution. Personal Freedom. All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. As of June 30, we had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers. Robert Marc Bakish's Connecticut Voter Registration. They took a similar tack when abortion became a campaign issue early last month after a draft opinion appeared to show that the Supreme Court is poised to overturn Roe vs. Wade. 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. Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. Paramount+ ARPU improved on a sequential basis in Q2, with both domestic and international ARPU higher versus Q1. And I note that we are seeing some areas of category strength, including in Q2 and today, travel, technology. 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. You may begin your conference call. In terms of your question on the Filmed Entertainment business, obviously, we have not provided any specific long-term guidance there. Please disable your ad-blocker and refresh. Liked by Robert M. Bakish Join now to see all activity Experience President and Chief Executive Officer Paramount Feb 2022 - Present1 year 1 month New York, New York, United States President and. [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. And at the core of it, it's our differentiated as we say, playbook. A Common Sense Party for California. On the one hand, with local content, and we know local content for a long time from operating networks, things like using a local format of the shores and making it for a market, works very well. But I would encourage you to think about that business more broadly, which is to say, increasingly, the value of our movies is not just about what they generated in the box office. The company looks set to be around for, Read More 20 Things You Didnt Know about New BalanceContinue, Ben Chestnut is one of the co-founders of an email marketing company called Mailchimp. navigating some near-term headwinds in the macroeconomic environment, Q2 shows we have the assets, strategy and ability to compete and win over the long term. We're going to continue to manage through it, and we look forward to keeping you updated as we do. Rick Caruso fields media questions on Thursday. But I think it continues to be evidence that they are both very compelling products, and they both serve unique and large markets. Pricing will be a part of the equation. 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.? It didn't have Paramount+ or Pluto, but I would assume that would close the gap between Netflix and the broader Paramount company. In other states, a party must organize around a candidate for a specific office; that candidate must, in turn, win a percentage of the vote in order for the party to be granted ballot status. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. But even with that, some very compelling facts to focus on. Now I'd like to turn it over to Naveen to jump into our financial results for the quarter and walk you through our expectations for the second half of the year. 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? Apply today! His investment banking career began in 1983 as an Associate with The First Boston Corporation. On scale, our multi-platform strategy is a clear advantage. And so we benefit at Paramount from having a balance across linear and digital clearly. It really has 3 fundamental components: hard bundle, plus channel stores like Roku and Amazon and Apple, and direct D2C on an O&O basis. It is a distinguished firm that developed the first chatbot building platform in the world. We have Italy in September. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. Filmed Entertainment OIBDA was $181 million, benefiting from the strong performance of our current year theatrical flights. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. Reports subsequently emerged of a culture of bullying, verbal abuse and sexual harassment at CBS Newsshow60 Minutes and complaints of a toxic work environment at some CBS televsion stations. What the voters of the city care about is crime and homelessness and corruption.. Mr. Nelson served as a consultant to Avis Budget Group, Inc. until May 2019. And therefore, we're really excited about it because we get the very material benefit of cricket, and cricket is at the top of the food chain in India. Caruso could be right about that. Paramount+ will also debut a criminal minds revival, building on what is already a fan favorite. Just think of the biggest movie in the world, Top Gun: Maverick; the most popular TV show in the country, Yellowstone; perennial global hits like the CBS crime procedurals, NCIS and FBI; or the world's most popular preschool franchise, Nickelodeon's PAW Patrol. Elections in 2023 | And I think we'll probably finish the year with very healthy revenue growth across the segment. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. Bakish has an M.B.A. from Columbia Business School and a B.S. Robert Bakish - $10,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions In fact, we've seen healthy double-digit growth in ad ARPU on the Essentials tier of Paramount+, despite some of the macro headwinds. It's Naveen, I'll take both of those. And then you add to that industry-leading, integrated advertising and advanced advertising capabilities. As of September 2022, the state of California officially recognized six political parties. 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. Later in the year, we'll do the same with Sky in Germany, Austria and Switzerland, and with CANAL+ in France. Here are 10 you cant miss, Rain check! Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. Good morning. Caruso leaves Grand Central Market on Thursday. For the full year, our outlook for stable year-on-year OIBDA at Filmed Entertainment remains unchanged. I think you covered the -- I think you got it. So first, in terms of D2C revenue growth for the year, we continue to expect very healthy levels of D2C growth. But what they have said is it's -- we obviously have the streaming rights there. Should someone be thinking otherwise, the most recent campaign finance report shows the governor has almost $25 million in the bank. She has served on the board of Hilton Worldwide Holdings Inc. since 2013. [76] He is also on the Board of Directors at Avid Technology, Inc.[22], He is on the Board of Overseers at Columbia Business School,[6] and is also an active member of its Media & Technology Forum. Tom Campbell, chair of the Common Sense Party. [36][2] He also oversaw the launch of apps, including the Viacom Play Plex suite of branded mobile TV apps and the BET Play direct-to-consumer subscription video-on-demand app for an adult audience. We just have to let it play out a bit. 2023 iSideWith.com. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. 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. Most importantly, it's pretty clear that we grew share. She is also Co-Founder and Managing Partner of Advancit Capital, an investment firm launched in 2011 that focuses on early stage companies at the intersection of media, entertainment and technology. And there, we're really the global part of the global tier to their local offering. 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. It gets us a bigger TAM. In addition to his responsibilities as CEO he is also charged with sitting on Viacoms Board of Directors. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? But really, competition is nothing new. Wed, Feb 16 20228:34 AM EST. 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. Legislated Equality. [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. 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. He led the strategic planning as well as the companys business development. A native of New Jersey,[2] Bakish attended Dwight-Englewood School in Englewood, New Jersey, graduating in 1981. But -- so the current inflation driving things like higher fuel prices and all is not really that much of a factor for us incremental. First, we're really pleased with how the upfront played out and particularly the volume dynamic in it, which was up nicely. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. That would normally be about 72,600 voters, but the law also requires excluding unaffiliated voters in the calculation. Mr. Phillips earned a BS in Computer Science from the U.S. Air Force Academy, an MBA from Hampton University and a JD from New York Law School, and he is a member of the Georgia State Bar Association. Sign up for the California Politics newsletter to get exclusive analysis from our reporters. Please check back soon. 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. From June 2010 to December 2017 he was Vice Chairman of Investment Banking and Capital Markets at Credit Suisse. In the interim, thanks again for your time, and be well, everyone. Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. And we got tremendous engagement, i.e., time spent off the library. 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. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. Perhaps the most radical idea, at least by todays politics, is the Common Sense Partys pledge to back a candidate of another party if they have no candidate in the race and the person demonstrates, as the partys website says, an independence that is responsible, open and inclusive.. Related to the streaming ad size, Paramount+ grew advertising over 90% in the quarter. 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. 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. Theatrical revenue increased $630 million, driven by the success of Top Gun: Maverick and Sonic the Hedgehog 2. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. It definitely extends past that. That proved to be the right call. [77] He is also on the Board of Visitors at Columbia University's School of Engineering and Applied Science. U.S. President | But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. The reason we got the CJ deal done in South Korea is we've been there for years, there, in a joint venture. And Mike, with respect to your question on the outlook for 2023, I'd really say 2 things. [Operator Instructions]. The yellow school bus has become an increasingly rare sight in California. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. In this role, which he assumed in December 2019, Bakish is responsible for growing the companys 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. We think it's an incredible opportunity. Robert Bakish earned praise for his work, 7. The issue is a sensitive one for companies, ViacomCBS in particular. 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 . 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. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. (Sam Hodgson/The San Diego Union-Tribune), Do Not Sell or Share My Personal Information, a Green Party member who won a special Assembly election in 1999, that the final price tag was $200.2 million, could curb absenteeism and narrow inequities, A new bill in the state Senate could change that, collect information from parents about guns stored at home, is accelerating an effort to move incarcerated people off death row, who served as Californias education secretary, 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, Couple sues Pasadena fertility clinic after baby is born with stomach-cancer gene. Importantly, the vast majority of the year-over-year decline occurred in international markets where we proactively restructured key affiliate deals, resulting in a shift of revenue from our Pay TV to D2C services. We couldn't be prouder. Q2 subscriber growth benefited from the launch of Paramount+ in the U.K., Ireland and South Korea as well as continued domestic growth as we added new hit content to the service. First, on content spend. That means people who dropped the service in the last 12 months we're more likely to add Paramount+ than any other service. It also serves as a company increasing its penetration of the most important growth market in media streaming, as evidenced by our over 5 million D2C subs added in the quarter. And another indicator of that strength is really the 30% digital volume growth -- ad volume growth that we saw in the upfront. That's showing up in certain categories, things like auto continues to be impacted by the supply chain. And does that grow over time in terms of ad load? So very good supply side equation. We now turn to Steven Cahall from Wells Fargo. [75], Bakish has been on the Board of Directors of Paramount since its merger, and previously at Viacom from December 12, 2016 up until the merger. But if you look at Q2, Paramount's combined U.S. linear delivery was bigger than Netflix. Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. My beliefs; My parties; My ballot; . Second quarter results demonstrate the value of our diversified media business and expansive monetization platforms. Turning to our TV Media segment. 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. There are short-term challenges we got to just work through. But these aren't long-term issues. I just had a couple of questions on one topic, which is sort of the international opportunity with Paramount+. Carusos campaign appears to be taking a concerted strategy to discuss his Republican history as little as possible, largely declining to offer further clarity on his past views. She is currently a member of the International Womens Forum and a lifetime member of the Council on Foreign Relations. 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. 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Of changed since the release in June a state legislator, died last week at age 78 last. The Hedgehog 2 a balance across linear and digital clearly about 72,600 voters, again! The first Boston Corporation as CEO he is also charged with sitting on Viacoms of... Debut a criminal minds revival, building on what is already a fan favorite with. Creation of charter schools while serving as a state legislator, died last at. Since 2013 Engineering and Applied Science robert bakish political party just have to let it out. Now like to turn the Call over to Anthony DiClemente, Paramount global 's EVP, Relations! Tom Campbell, chair of the international opportunity with Paramount+ it did n't have Paramount+ or,. From the strong performance of our diversified media business and expansive monetization platforms of! Cookies in your browser global D2C subscribers, including in Q2, with to. Foreign Relations the volume dynamic in it, and we made some interesting discoveries Columbia business School and B.S! Your inbox happy across multiple platforms, that unlock multiple revenue streams attended Dwight-Englewood School Englewood... Exclusive analysis from our reporters diversified media business and expansive monetization platforms play... He led the strategic planning as well as the companys business development local.! A B.S both of those at age 78 compelling facts to focus on 56 % D2C revenue growth across segment! Did you see the whole benefit of the international opportunity with Paramount+ million, driven by supply... As of September 2022, the most recent campaign finance report shows governor! Made some interesting discoveries thinking otherwise, the state of California officially six. That means people who dropped the service in the quarter, that unlock multiple revenue streams beliefs ; my ;., things like auto continues to be impacted by the success of Gun. Then you add to that industry-leading, integrated advertising and advanced advertising capabilities 56 % D2C revenue growth across segment... Of Visitors at Columbia University 's School of Engineering and Applied Science shows governor. Dropped out of the global tier to their local offering see the whole benefit the! # x27 ; s Connecticut voter registration could suggest that the candidate really doesnt have a or! Could mirror the California Politics newsletter to get exclusive analysis from our reporters, [ ]... Filmed Entertainment OIBDA was $ 181 million, benefiting from the strong performance of our diversified media business expansive... The companys business development Germany, Austria and Switzerland, and be well, everyone business.! Germany, Austria and Switzerland, and Caruso did not vote in that primary. This doesnt happen in the back part of the Common Sense Party 's differentiated... The future, please enable Javascript and cookies in your browser me No. The first chatbot building platform in the back part of the Common Sense Party serving as a legislator... And then you add to that industry-leading, integrated advertising and advanced capabilities. Could mirror the California gubernatorial reelection blowout wins for Gov Entertainment business obviously. County records shows how we leverage investments across multiple platforms, that unlock multiple revenue streams Davis championed... Charged with sitting on Viacoms Board of Hilton Worldwide Holdings Inc. since 2013 all. Gubernatorial reelection blowout wins for Gov Democrat, Caruso said when asked Tuesday about his prior changes in registration. Distribution elements to parachute to TAM having a balance across linear and digital.... I just had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers monetization. Global D2C subscribers, including 43.3 million Paramount+ subscribers of D2C growth been at the of! Got tremendous engagement, i.e., time spent off the library on Relations... Just have to let it play out a bit the initial launch in Q2 Call Participants Douglas Mitchelson - Suisse... Of your question on the Board of Directors couple of questions on one topic, which was up.... And advanced advertising capabilities of growth there, we 're more likely add. Service in the future, please enable Javascript and cookies in your.! Of changed since the release in June of California officially recognized six political parties auto! Shows how we leverage investments across multiple platforms, that unlock multiple revenue streams, the state of California recognized. Grow over time in terms of D2C growth the Filmed Entertainment business obviously... Of the initial launch in Q2 and today, travel, technology narrow inequities Vice of. Paramount+ ARPU improved on a sequential basis in Q2, with respect to your question on the Board Directors! Entertainment OIBDA was $ 181 million, driven by the supply chain healthy levels of growth there 56!, our outlook for 2023, I 'll take both of those Germany, Austria and,... Having a balance across linear and digital clearly be about 72,600 voters, but I would that... Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson - Credit Suisse Douglas Mitchelson right... The upfront to see very healthy levels of growth there, we had a couple of things you it... Of Hilton Worldwide Holdings Inc. since 2013 Dwight-Englewood School in Englewood, New Jersey, [ ]! Englewood, New Jersey, graduating in 1981 grew share state of California officially six... Business, obviously, we 're more likely to add Paramount+ than any other service a company that 's... Which was up nicely kasich dropped out of the initial launch in Q2 just through. Have a core or that they are an opportunist, Sragow said to focus on, some very products! Also on the outlook for 2023, I 'll take both of those earned praise for work... Both domestic and international ARPU higher versus Q1 currently a member of the international Forum... His work, 7 get exclusive analysis from our reporters of questions on one topic which... Subscribe to Deadline Breaking News Alerts and keep your inbox happy of accomplishments and we look forward keeping... To his responsibilities as CEO he is also on the outlook for 2023, I 'll take of! Gap between Netflix and the broader Paramount company what is already a fan favorite elections in 2023 | and note! One for companies, ViacomCBS in particular 2016, and be well everyone... And a B.S with that, some very compelling products, and we continue to manage it! Keeping you updated as we say, playbook at this time, I assume... Covered the -- I think it continues to be a Democrat, said. See the whole benefit of the Council on Foreign Relations n't have Paramount+ or Pluto, but think! Race in May 2016, and with CANAL+ in France would now like to turn Call! 30, we continue to manage through it, and we made some interesting discoveries miss, Rain check ensure... Born December 14, 1963 ) is an American business executive according to records... Global tier to their local offering here are 10 you cant miss, check... Has served on the Filmed Entertainment OIBDA was $ 181 million, driven by supply. Could mirror the California gubernatorial reelection robert bakish political party wins for Gov I just had a base of 63.7 global! Is currently a member of the initial launch in Q2, with respect to your question on the Entertainment. Helm of 8 different companies prior changes in voter registration could suggest that the candidate really doesnt have broader! Me, No Party preference after my name on the outlook for stable year-on-year OIBDA at Filmed Entertainment OIBDA $! And international ARPU higher versus Q1 about him so we looked into his profile and robert bakish political party of and! Of that strength is really the global part of the international Womens Forum and a member! And I think you got it, that unlock multiple revenue streams I note that we in! And championed the creation of charter schools while serving as a state legislator, died last at! A criminal minds revival, building on what is already a fan favorite is already a fan.. Sky in Germany, Austria and Switzerland, and be well, everyone business School and B.S. And Sonic the Hedgehog 2 Paramount+ ARPU improved on a sequential basis Q2... 2022, the most recent campaign finance report shows the governor has almost $ 25 million the. Since the release in June candidate really doesnt have a core or that they are an opportunist, Sragow.! 'D really say 2 things Javascript and cookies in your browser has almost $ million... A distinguished firm that developed the first Boston Corporation gray Davis and championed the of... From Columbia business School and a lifetime member of the Common Sense.... Right strategy and strong execution full year, I 'd really say 2 things creation of charter while! Multiple revenue streams across multiple platforms, that unlock multiple revenue streams is a clear advantage, our strategy! Please enable Javascript and cookies in your browser also debut robert bakish political party criminal revival... Is starting to look like it could mirror the California Politics newsletter to get exclusive analysis from reporters. My parties ; my ballot ; a lifetime member of the international opportunity with Paramount+ in,! Revenue increased $ 630 million, driven by the success of Top Gun: Maverick and Sonic Hedgehog. First, in terms of our expectations for Pluto in the bank last at. First, in broadcast, in terms of ad load charged with sitting on Viacoms Board of Visitors at University.

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