Overview Policies Discuss Ratings Themes Ideology. 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. Robert Bakish - $10,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions Did someone forward you this? Ms. Beinecke is the Senior Partner of Hughes Hubbard & Reed LLP, a New York-based international law firm, and is known for her corporate governance and M&A expertise. I'll try not to abuse it. 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 have an ad-blocker enabled you may be blocked from proceeding. 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. Gary K. Hart, who served as Californias education secretary under Gov. Prior to that, he served as Executive Chairman of the board of Avis Budget Group from 2016 to 2018 and as its Chairman and Chief Executive Officer from 2006 to 2015, and also served as Chief Operating Officer from 2010 to 2015. Bob Bakish ViacomCBS 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. 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. [16][17][18][19][20] In these two positions, he was responsible for Viacom's strategic planning and business development plus oversight of a range of business units including Famous Music, Famous Players, Viacom Plus sales and information services and technology, as well as heading Viacom's cross-divisional marketing council. We've done -- we have a very successful track record of putting in place new affiliate deals that either have built-in rate escalators or fixed fee components on the station side of the business. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. 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. [79][80][81] He was also Chairman of the Cable Television Advertising Bureau from 2003 to 2005. For example, in some states, a party may have to file a petition in order to qualify for ballot placement. Starting with direct-to-consumer. Remember, Rich, we've only been in the streaming business for a short time. School districts | As you know, we're -- our goal is to drive the growth on the D2C business to over $9 billion of revenue by the end of 2024. He also sits on the Avid Technology Board of Directors. 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. We've seen some price increases at different streaming services. 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. Yes. We had broadcast and cable pricing increase at the same high single-digit rate. And another indicator of that strength is really the 30% digital volume growth -- ad volume growth that we saw in the upfront. In addition to boards within the entertainment industry that Robert Bakish serves on, hes a member of the Board of Overseers at Columbia Business School. And importantly, our competitive position in the ad market is very strong. Paramount+ added 4.9 million global subs, while our other streaming services grew modestly. Let me start. The leading global brands in entertainment, We tell rich stories that are highly relevant to our audiences. Advertising was down 2% year-over-year or flat on a constant currency basis due to macroeconomic headwinds, and licensing revenue grew 27%. We're continuing to fund the growth. Cities | The success of our streaming platforms speaks to the power of our content strategy. 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. Early life and education [ edit] It's not an overwhelming part, but it is part of it. It helps our marketing economics, and it shouldn't be discounted. 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. So we've been managing with that for a while. And we continue to forecast D2C OIBDA losses will be greatest in 2023 and then improve in 2024. She began her career at Mobil Oil Corporation. Hes an active member of the colleges media and technology forum, lending his expertise. And at the core of it, it's our differentiated as we say, playbook. Gavin Newsoms popularity has suffered as his administration has struggled to keep up with the ever-evolving COVID-19 pandemic. And there, we're really the global part of the global tier to their local offering. Caruso has typically dismissed criticism and most questions about his registration history. 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. (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. Yet again, evidence, we are taking market share. These risks and uncertainties are discussed in more detail in our filings with the SEC. Not, Read More The History of and Story Behind the Papa Johns LogoContinue, Gupshup is a startup that provides messaging services for businesses. 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. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? 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. And as you pointed out, our content dollars are used differently than many of our peers. If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. You Quiz Candidates Elections Issues Discuss. . 5. At the center, of course, is our hugely popular content, big, broad and beloved. And I'd point out that all that's not just conceptual, it translates into performance. The partys name is no accident, of course, as the group references the American Revolution-era writings of Thomas Paine on its website. Menu Candidates > Robert Bakish > Policies > Healthcare > Stay-At . 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? As we look ahead in this ad market, there's 2 things I'd note. All Rights Reserved. Third, we're in the free streaming space and the pay streaming space. 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. Bob Bakish is President/CEO at Paramount Global. We don't obviously guide to Pluto specifically. Elections in 2023 | 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. Paramount+ revenue growth was 120%, and we continue to be very bullish about growth going forward. We just have to let it play out a bit. Mr. Kliegers practice focuses on complex civil litigation and counseling in the areas of entertainment and intellectual property. Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. First, we're really pleased with how the upfront played out and particularly the volume dynamic in it, which was up nicely. An independent review of the alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a statement. And I think we'll probably finish the year with very healthy revenue growth across the segment. And we're just getting started. Could you maybe just think about what the drivers for stable guidance might be for next year, especially since you're comping political? When I was an independent, I was a centrist. Or does it extend past that? This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. 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. 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. Earl Warren in 1950, Gov. We have a very strong proposition in the marketplace. Ideology score: 4.9L. That's super important to us because it's a big category for us given our demographics and specifically the demos of CBS. We see our partners responding enthusiastically. Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. 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. That came back big in the upfront. Send us a tip using our annonymous form. iSideWith shows which candidates you side with based on the political issues selected most important to you. 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. But the second element of it, a lot of that we're going to use globally because on a termed basis, the streaming world has proven that works. 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. External Relations: Moira Delaney Hannah Nelson Caroline Presnell 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. 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. It sounds like you're no longer targeting 60%-plus growth in D2C revenue this year. I really want to thank everyone for their time today. So local is very much part of our strategy in the mix. Ms. Byrne is Former Vice Chairman of Barclays PLC. Sure, Brett. A new bill in the state Senate could change that. Tom Campbell, chair of the Common Sense Party. Meanwhile, in markets like India and Eastern Europe, we're focused on balancing long-term market growth with a smart allocation of capital. 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. . With Pluto, we provide a global platform and global libraries, and our partners provide compelling local content and local ad sales capabilities. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. I was wondering if you could give us color on IPL? I believe you guys have some local productions, 4 language productions in the works? He continued on to earn his MBA from Columbia Business School, graduating in 1989. 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. [70][71][72][73], In September 2018, due largely to his turnaround of Viacom, The Hollywood Reporter listed Bakish as #20 in its The Hollywood Reporter 100: The Most Powerful People in Entertainment 2018. She previously served on the board of ALSTOM, a public French transport company. The momentum of Paramount+ is not just the product of its strong and diverse portfolio of content, it's also the product and the smart distribution strategy, which is bringing our flagship streaming services to more audiences than ever before. 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