Technology in January 1998. HIGHLIGHTS. One on content spend and one on film entertainment, if I could. The yellow school bus has become an increasingly rare sight in California. [3][4][5], He received a Bachelor of Science in operations research in 1985 from Columbia University's School of Engineering and Applied Science. And speaking of the recall: On Thursday, state officials reported that the final price tag was $200.2 million. It's producing very real results in the momentum that you've seen. And yes, we've got to manage through some near-term macroeconomic headwinds, but we will. The last point, your local content, all those markets do have local content dimensions. He has been President and CEO of Paramount Global since December 4, 2019, formerly holding the same position at Viacom before the merger with CBS Corporation. And at the same time, we're very committed to our long-term growth objectives around the D2C business, and we intend to continue to invest to support that growth opportunity. Obviously, we're in business with Sky in the U.K. and Ireland, and they are very pleased with what we brought to market. 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. And as we look at, as streaming becomes bigger for us, as we gain scale, we see operating margins from streaming approaching that of TV Media. Ms. Griego has served as a director of publicly traded and private corporations, including presently serving as Director of AECOM Technology Corporation and the American Funds (7 funds). Counties | But there are real reasons that we see this path to superior margins. I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Caruso has typically dismissed criticism and most questions about his registration history. 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. In 2006, Ms. McHale worked with private equity firm Global Environment Fund to launch the GEF/Africa Growth Fund, an investment vehicle focused on supplying expansion capital to small and medium-sized enterprises that provide consumer goods and services in emerging African markets. 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. So that's the IPL answer. Yet again, evidence, we are taking market share. State executives | Prior to Barclays, Ms. Byrne worked at Lehman Brothers, where she was the first woman to serve as Vice Chairman. It's a powerful and efficient local model. [8], In February 1997, Bakish joined Viacom. So local is very much part of our strategy in the mix. 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. The combination of streaming and traditional is significant. He has been President and CEO of Paramount Global since December 4, 2019, formerly holding the same position at Viacom before the merger with CBS Corporation. He is a male registered to vote in Connecticut. Signup for Breaking News Alerts & Newsletters. P Plus customers are watching a greater number of unique titles today than ever before. Sort of everyone, but Netflix is losing billions a year on streaming. And we know how to transact in upfront. 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. In Filmed Entertainment, Q2 revenue was $1.4 billion, more than double the year ago period. Although Pluto TV revenue growth was impacted by the macro environment, the service continues to demonstrate strong engagement with the year-over-year growth rate in total viewing hours accelerating from Q1 to Q2. So is this just a bunch of unhappy Republicans? Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. 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. Bakishs leadership was integral to the successful merger of Viacom and CBS as he led the transformation efforts within the new company, combining two great cultures, formalizing a best-in-class leadership team and aligning the organization around strategic growth priorities centered on streaming. Could you maybe just think about what the drivers for stable guidance might be for next year, especially since you're comping political? We've long known what makes us the ideal advertising partner, our ability to deliver both scale and efficiency, all wrapped around premium content. One, I mean, as you saw in Q2, we continue to see tremendous momentum in the direct-to-consumer business, whether you look at the growth on Paramount+ subs, what we're seeing in terms of churn, nice MAU growth and engagement growth at Pluto and most importantly, D2C revenue growth at very, very strong levels, 50% on a combined basis, well over 100% revenue growth at Paramount+. I'm particularly interested in whether that's creeping into content production costs. Under his leadership, VIMN more than doubled revenues and broadened its portfolio with new, broadly distributed pay-TV networks, including Spike and the Paramount Channel, as well as general entertainment broadcast networks Channel 5 in the U.K., Telefe in Argentina and Colors in India. 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. [Operator Instructions]. Meanwhile, in markets like India and Eastern Europe, we're focused on balancing long-term market growth with a smart allocation of capital. Initially as Vice President of Planning and Development,[8] he became Senior Vice President of Planning, Development and But we are still focused on managing the business to peak losses in '23, and then starting to see improvements in earnings, both for the D2C segment and the consolidated business as a whole beyond that as we move toward our long-term D2C revenue and subscriber goals. Paramount continues to shine at the box office with numbers that outperformed even our own expectations, and we're excited about the future. But really, competition is nothing new. Tom Campbell, chair of the Common Sense Party. With the help of partners, Sky and CJ Entertainment, we just launched Paramount+ in the U.K., Ireland and South Korea. Robert Bakish - $10,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions Robert Bakish is the CEO and President of Viacom. The Board takes any allegation of this type seriously. So we'll be deploying all of that in those markets. [7][6], Last edited on 12 February 2023, at 23:50, School of Engineering and Applied Science, "ViacomCBS Chief Bob Bakish: 'We Are Hitting the Ground Running in 2020', "Viacom CEO Bob Bakish pushes turnaround plan for Paramount and MTV: 'I look under the hood'", "Viacom CEO Robert Bakish '81 To Keynote Commencement", "Robert M. Bakish: Dwight-Englewood School 1981 Honored 2011", "Address by 2013 Class Day Speaker Robert M. Bakish, Viacom International Media Networks CEO", Columbia University School of Engineering and Applied Science, "Viacom Shuffles Operations Under New Co-President", "Armstrong Wins; Susan Buffett Dies; Intel's Bryant Sees Cash", "Update 3: Freston Shakes Up Viacom Ranks", "MTV Networks International appoints Bakish president", "Viacom's Bob Bakish to speak at IGNITION", "The big picture is that you can do business here: Robert M Bakish", "It was a go big or go home play: Bob Bakish recalls Viacom18s early days", "People Business; Starring: Robert M. Bakish CEO, Viacom International Media Networks, Shailesh Rao, Vice President, International Operations, Twitter, Tom Mendoza, Vice Chairman, NetApp", "Bill Roedy steps down as CEO of MTV Int'l", "Viacom Promotes Robert Bakish to CEO of All International Networks", "Robert Bakish Named President & CEO of Viacom International Media Networks", "Viacom's new CEO pursues turnaround with CBS out of the picture", "Viacom Names Robert Bakish Acting President, CEO", "Viacom unveils Play Plex mobile TV apps", "Viacom International Launches Direct-to-Consumer SVOD App BET Play", "Viacom Names Bob Bakish Acting CEO When Tom Dooley Steps Down", "Viacom names Robert Bakish as acting CEO", "At Viacom, Bob Bakish Enjoys Swift Rise", "Heres Viacoms New 5-Point Strategic Plan: 6 Brands, Deeper Integration of Paramount", "Viacom Unveils Focus on Flagship Brands, 'Deeper Integration' of Paramount Pictures", "Viacom CEO Vows To Make Company More Focused And Forward-Looking", "Viacom Sets Radical Revamp of Cable Operations, Adapting to Skinny-Bundle Era", "How CEO Bob Bakish Plans to Make Viacom Great Again", "Viacom to Narrow Focus to Six Key Cable-TV Channels", "Viacom Well Along in Process for New Leadership at Paramount", "Viacom CEO Bob Bakish Says Non-Sports Bundles Are Future of Pay-TV", "How Viacom Is Emerging From Its Reorganization", "Viacom CEO Talks Paramount Turnaround, TV Production Growth But Stays Mum on CBS Talks", "Viacom One Year Later: Whats Better and What Still Needs Work as Possible CBS Reunion Looms", "Viacom Courts The Youth Vote With VidCon, WHOSAY", "Viacom Has Officially Acquired VidCon, A Global Online Video Convention Series", "Viacom Acquires AwesomenessTV; CEO Jordan Levin to Depart", "Viacom to Launch Streaming Service Later This Year, CEO Says", "Viacom, Owner Of Comedy Central And Nickelodeon, Will Launch A Streaming Service This Fall", "Viacom plans direct-to-consumer streaming service", "Viacom Plots Launch of Streaming Service", "Viacom CEO: Companys New Streaming Service to Complement Existing OTT Services", "Viacom Digital Studios Makes Digital Content NewFronts Debut", "Viacom Unveils Digital Studio With Series Slate, VidCon Expansion", "Viacom Formally Introduces Viacom Digital Studios At NewFront", "Viacom Digital Studios Unveils Digital Slate, Including, "Left on Merger Sidelines, Viacom Strikes Netflix Deal", "Viacom strikes Nickelodeon deal with Netflix", "As Part Of Major Strategic Shift At Viacom, Nicks, "The Hollywood Reporter 100: The Most Powerful People in Entertainment 2018", "CBS and Viacom Reveal December Merger Date - Mark Your Calendars", https://en.wikipedia.org/w/index.php?title=Bob_Bakish&oldid=1139023203, This page was last edited on 12 February 2023, at 23:50. Nominating and Governance Committee Chair. Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. Read our privacy policy for more information. he was also in charge of several business units under Viacom Enterprises including Viacom Plus sales, Famous Players, Famous Music, their cross-divisional marketing council and their information services and technology. 2023 iSideWith.com. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs. Our last question comes from Philip Cusick from JPMorgan. 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? At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. We think it's an incredible opportunity. [65][66][67][68][69] In addition, later that June, Bakish announced that Viacom will produce some new series exclusively for Netflix, beginning with Nickelodeon-related content. Nothing is certain except death, taxes and Rick Caruso is a Republican. And though we don't have any imminent price changes, they will happen in the future, and we'll do it while also taking into account the evolution of our content offering, looking at what sort of bundles and other promotional opportunities are available to our customers. So rate is an important part of the equation. Advertising was down 2% year-over-year or flat on a constant currency basis due to macroeconomic headwinds, and licensing revenue grew 27%. Let me start. Pricing will be a part of the equation. Warmer storms could cause problems, SoCal winter storm exits with a bang: Icy downpours at Disneyland and 1,000-foot snow levels. Ms. Seligman joined Williams & Connolly in 1985. By subscribing, I agree to the Terms of Use and Privacy Policy. An independent review of the alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a statement. I assume the engagement is pretty strong as well. My beliefs; My parties; My ballot; . We continue to look at how we optimize the tiering along with that, but it's part of a broader overall ARPU story. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. 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. | You Quiz Candidates Elections Issues Discuss. So a couple of things to say. We also maintained a committed $3.5 billion credit facility that remains undrawn. 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. Will it turn to a billionaire mayor? We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. 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. She began her career at Mobil Oil Corporation. These are listed in the table below. Revenue grew 10% year-on-year. Caruso was a Republican for much of his life. Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. And we got tremendous engagement, i.e., time spent off the library. [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. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. Share. We now turn to Jessica Reif Ehrlich from Bank of America Securities. [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. That's super important to us because it's a big category for us given our demographics and specifically the demos of CBS. In fact, Top Gun: Maverick just cleared $1.34 billion at the global box office and became 1 of the top 10 domestic movies of all time. It's going to be part of a streaming offering for the Indian market, that Viacom18 is going to launch in 2023. Hes also had international business experience, 6. It's Naveen, I'll take both of those. Search Terms: Robert Bakish Reset All Filters Page 1 of 1 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. 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. Box office hits the Lost City and Sonic the Hedgehog 2 came to Paramount+ in May, generating terrific engagement across all demographics. Filmed Entertainment OIBDA was $181 million, benefiting from the strong performance of our current year theatrical flights. In 1999, she was named as the first woman to chair a major New York law firm, a position she held for 17 years. Caruso could be right about that. We finished the quarter with $4 billion of cash on hand and total debt of $15.8 billion. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. Good morning. [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.

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