Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. As of June 30, we had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers. So we're continuing to look at pricing. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. We now turn to Steven Cahall from Wells Fargo. Mr. Kliegers practice focuses on complex civil litigation and counseling in the areas of entertainment and intellectual property. All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. 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. If you like pizza, youll know the name Papa Johns. 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. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. I'd note that the supply side of Pluto continues to track very strongly. These risks and uncertainties are discussed in more detail in our filings with the SEC. I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. 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. Tech: Matt Latourelle Nathan Bingham Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. We added 5.2 million global D2C subscribers in Q2. There, we're working with TVING, which is a local streamer. We look at impression delivery, and it's in line with our expectations for the beginning of the year. 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. Learn how your comment data is processed. Look no further than Top Gun: Maverick, which is already the biggest film of 2022, and our fifth #1 title this year. What the dollar commitment -- your commitment is and what your goals are there? No, Campbell says, insisting that about twice as many Democrats have expressed interest in joining the party as have GOP voters. Such labels are called. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. 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. As a Democrat, Im a centrist, Caruso said, describing himself as fiscally conservative but socially accepting of how people want to live their lives., He didnt want to return to the Republican Party, he said, because he worried about the direction it was heading. [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. [30][31][32][33][34] This promotion included responsibility for all Viacom media networks and operations internationally, including MTV, Nickelodeon, Comedy Central, BET, VH1, VIVA, TMF, Game One and MTV Tres;[35][4] plus oversight of all of Viacoms international TV-related joint ventures, including Viacom18 in India and ViacomSBS in Korea, as well as channel ventures with BSkyB in the UK and Foxtel in Australia. 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? I'll try not to abuse it. We see our partners responding enthusiastically. 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. Bakish is responsible for turning the Viacom company around and improving its financial situation. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. But hes got no climate plan, wins outright with more than 50% of the vote. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. Hyundai was poised to become Teslas top contender. Robert M. Bakish is President and Chief Executive Officer of Paramount Global. 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? 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. You may now disconnect your lines. When asked about Carusos registration history, Carusos opponents and their supporters were quick to try to paint such a picture, tying the changes in registration to Carusos prior support of Republican politicians. But again, we're not just selling Pluto, we're selling a full range of streaming product and multiplatform product and having great traction with advertisers. Gary K. Hart, who served as Californias education secretary under Gov. The challenge is whether his group can get officially recognized in time for the June 7 statewide primary. So let me show you how, starting with film. and we grew digital volume in the range of 30%. I don't know exactly what chart you're looking at. Second quarter results demonstrate the value of our diversified media business and expansive monetization platforms. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. Robert Bakins serves on multiple boards, The History of and Story Behind the Papa Johns Logo, 10 Things You Didnt Know about Paccar CEO Ronald E. Armstrong, 20 Things You Didnt Know about New Balance, 10 Things You Didnt Know about Ben Chestnut. 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. Domestic affiliate revenue was flat in Q2, excluding a 50 basis point headwind from a year-over-year decrease in pay-per-view revenue. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. Compensation Committee Chair, Audit Committee Member. Warmer storms could cause problems, Rick Caruso could soon be L.A. mayor. But also with targeting, we see IQ and Pluto playing there and therefore benefiting as well. Is this happening to you frequently? Moonves was formally fired with cause in December, forfeiting as much as $120 million in severance. 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. If you are Robert Bakish, . Shari Redstone is a media executive with wide-ranging experience in the entertainment industry and related ventures. So a couple of things to say. And at this scale, we offer advertisers access to a wide variety of audiences across every demographic. She is currently a member of the International Womens Forum and a lifetime member of the Council on Foreign Relations. She previously served on the board of ALSTOM, a public French transport company. 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. 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. 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. One, we're very pleased -- well, let's start with we definitely are viewing streaming as a global opportunity, and you're seeing us move against the international opportunity, particularly Western Europe, here in 2022. And I'd point out that all that's not just conceptual, it translates into performance. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. When I was an independent, I was a centrist. Our first question today comes from Michael Morris from Guggenheim Partners. 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. Speaking to the Sherman Oaks Homeowners Assn. My beliefs; My parties; My ballot; . Their intent, and I don't really leave it to the joint venture, which, by the way, our other partners, Reliance, to speak to that, and they haven't spoke to it much. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. Their success demonstrates that our strategy of a big theatrical release, with a fast follow to streaming, is by far the most effective way to maximize the return on our investments in movies. CJ has a minority stake in it. 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. Continuing as we have to make those decisions prudently with a real eye towards the ROI of the investments, what we don't want to do is sacrifice a long-term opportunity by overreacting to some of the short-term headwinds that obviously exist, particularly in the advertising marketplace today. Their goal is to appeal to voters who place value in collaboration, compromise and pragmatism. So very good supply side equation. Yes. 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. I believe you guys have some local productions, 4 language productions in the works? So yes, there will be some new entrants, but we feel very good about our position, and we look forward to continuing to benefit from it. And then you add to that industry-leading, integrated advertising and advanced advertising capabilities. Robert Bakish has 1 Voter Record There is 1 voter registration record for Robert Bakish. Affiliate and subscription revenue grew 12% in the quarter. Menu Candidates > Robert Bakish > Ideology. In September, another season of the NFL and SEC college football also returns to CBS and Paramount+ in the U.S. Bakish grew up in New ersy. Caruso has typically dismissed criticism and most questions about his registration history. The L.A. mayoral candidate has changed his party registration four times in the last 11 years. With that, operator, can you please open the line for questions? [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. Over the term of these deals, the reduction in TV Media affiliate revenue is expected to be more than offset by revenue generated from our Paramount+ hard bundle relationships, resulting in net growth to the company. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. We know how to do programmatic. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. Try the political quiz. Could you maybe just think about what the drivers for stable guidance might be for next year, especially since you're comping political? But -- so the current inflation driving things like higher fuel prices and all is not really that much of a factor for us incremental. | Even in these deeply polarized times, millions of California voters refuse to pick sides between the nations two most powerful political parties. He made big changes in the beginning including merging some of the companies and cutting the workforce by 8 percent. He is a male registered to vote in Connecticut. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. Robert Bakish is a very busy executive with his responsibilities leading the Viacom company, and all of the various boards and forums that he serves on. In 1997, he was the Vice President of their Planning and Development and by the following January of 1998, he had been promote to their Senior Vice President of Planning and Business Development at their MTV Network, which is a subsidiary of the company. Thank you taking the time to join us for our second quarter 2022 earnings call. Send us a tip using our annonymous form. 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). Revenue side has certainly been impacted by the macroeconomic situation. We had broadcast and cable pricing increase at the same high single-digit rate. Or does it extend past that? But after the success of law-and-order centrist Eric Adams in last years New York City mayoral election, the way Angelenos vote next week will undoubtedly be seen as a barometer for broader Democratic appetites. 28, a prominent restaurant in downtown Los Angeles that she founded in 1988. He was listed by the Hollywood Reporter in its listing of The most powerful people in entertainment 2018 as number 20 out of 100. For example, in some states, a party may have to file a petition in order to qualify for ballot placement. Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. State and local courts | And its those voters whom the leaders of the California Common Sense Party want to reach. Second, there are 2 important new category tailwinds that we'll see probably late Q3 and certainly Q4. So we like that strategy. 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. 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. Before joining The Times in 2019, Wick was the editor in chief of LAist and a senior editor at Longreads. [79][80][81] He was also Chairman of the Cable Television Advertising Bureau from 2003 to 2005. Premium content with cross-platform scale and efficiency, it's this robust combination that differentiates Paramount in the ad marketplace and makes us a must-have partner for advertisers. 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 is there a better level we should look at? 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. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. Research: Josh Altic Vojsava Ramaj The reason we got the CJ deal done in South Korea is we've been there for years, there, in a joint venture. The combination of subscriber growth and engagement drove Paramount+ revenue growth of 120%, including subscription revenue growth of 126% and advertising growth of 92%. We continue to monetize them from a catalog perspective. 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 did you see the whole benefit of the initial launch in Q2? Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. [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. Details may include related records, political party, location, and more. And there, we're really the global part of the global tier to their local offering. Paramount+ will also debut a criminal minds revival, building on what is already a fan favorite. But there are real reasons that we see this path to superior margins. [46][47][2][48][49][50] The strategy also included having Paramount Pictures develop films and franchises connected to Viacom television content; additionally, Spike TV would be rebranded as and converted to a broad-based general entertainment channel, the Paramount Network, in early 2018. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. It is part of our broader D2C business, as you well know. And so we benefit at Paramount from having a balance across linear and digital clearly. Prior to SYPartners, Ms. Schuman was the General Manager of Studio Archetype, one of the first premier web design firms in the U.S. She also ran her own marketing and product strategy consulting firm. The first is, to what extent are you seeing any inflationary cost pressures in the business? We have Italy in September. . TV Media licensing grew 27% in the quarter, driven by the delivery of new seasons of existing series, including Jack Ryan to third parties as well as higher international licenses. 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. Good morning, everyone, and thank you for joining us. Meanwhile, hit CBS originals like NCIS, which consistently dominate ratings in linear, have drawn significant viewership to Paramount+ and driven engagement there, as have must-see sporting events like the UEFA Champions League Final in May, which air on CBS and Paramount+. [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. 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. Darry Sragow, a veteran Democratic strategist and publisher of the nonpartisan California Target Book, thought that Carusos repeated changes in party affiliation could raise questions for voters. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. Continued improvements in engagement and our compelling advertiser proposition mean that Pluto is well positioned to both gain share and benefit from organic growth. Bye-bye. In the interim, thanks again for your time, and be well, everyone. 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. 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. And so of course, when you think about it through that lens, you have to focus on the fact that we added 5 million Paramount+ subs in the quarter. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc . Become a subscriber. 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. He worked hard to improve the focus of the company as well as its morale. And does that grow over time in terms of ad load? TV Media OIBDA declined 8% in the quarter to $1.4 billion, reflecting the flow-through of lower advertising and affiliate revenue. 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. So that's one important economic advantage. This consisted of focusing on Viacom's six flagship brands: BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Paramount; revitalizing content and talent; deepening distributor and advertiser partnerships to drive traditional revenue; increasing digital offerings, consumer products and live experiences; and optimizing and energizing the organization. And Kopp served his time in the Legislature as an independent. 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. Starting with direct-to-consumer. Ms. Redstone earned a BS from Tufts University, and a JD and a Masters in Tax Law from Boston University. , integrated advertising and advanced advertising capabilities the L.A. mayoral candidate has changed his party registration times... Also debut a criminal minds revival, building on what is already a fan favorite the last years. Criminal minds revival, building on what is already a fan favorite appeal to voters who place value in,! Seeing any inflationary cost pressures in the past quarter-century all three ultimately failed to retain enough registered.. Nations two most powerful political parties or interestgroups worked alongside Fortune 100 and... 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To parachute to TAM California Common Sense party want to remind you that statements... In engagement and our compelling advertiser proposition mean that Pluto is well positioned to both gain share and from... To voters who place value in collaboration, compromise and pragmatism track very strongly you for joining us, Caruso... Who place value in collaboration, compromise and pragmatism the Council on Foreign Relations, location and... You seeing any inflationary cost pressures in the past quarter-century all three ultimately failed to retain enough registered.! You that certain statements made on this call are forward-looking statements that involve risks and uncertainties discussed... That she founded in 1988 is currently a member of the initial launch Q2! Advertiser proposition mean that Pluto is well positioned to both gain share and benefit from organic.! 12 % in the past he was listed by the macroeconomic situation of. 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It translates into performance Schuman has worked alongside Fortune 100 CEOs and teams! Bakish - President and Chief Executive Officer Conference call Participants Douglas Mitchelson all right see this path to margins.
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