So local is very much part of our strategy in the mix. 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. And yes, we've got to manage through some near-term macroeconomic headwinds, but we will. 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. In response to the question "Should the U.S. government grant immunity to Edward Snowden?", Robert Bakish's response was. That means people who dropped the service in the last 12 months we're more likely to add Paramount+ than any other service. 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. . Sure, Brett. Warmer storms could cause problems, Rick Caruso could soon be L.A. mayor. 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. Second, there are 2 important new category tailwinds that we'll see probably late Q3 and certainly Q4. We also have -- in the U.K., we have Channel 5, so it has relationships that are triggering stories there. So rate is an important part of the equation. Revenue grew 10% year-on-year. Then the U.S. government blindsided it, Before and after photos from space show storms effect on California reservoirs, Yet more rain expected to hit California in March. 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). 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. Mr. Terrell served as Executive Vice Chairman of Investment Banking and Capital Markets at Credit Suisse and later Senior Advisor from January 2018 to November 2018. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. [25][37][2] Under his leadership, the Paramount Channel was launched, offering movies and television shows in Europe, Latin America and Russia. 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. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. Yet again, evidence, we are taking market share. Their poll released Wednesday found 56% of those surveyed say Newsom is doing a good job. 2023 iSideWith.com. We said at that time that, that would involve D2C content expense of around $6 billion. 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. 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. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. Hyundai was poised to become Teslas top contender. To learn more about ballot access requirements for political parties in California, see this article. L.A. loves the glitz but suspects the rich. And did you see the whole benefit of the initial launch in Q2? He served on President Obamas Economic Recovery Board, led by Paul Volcker, and is a member of the Council on Foreign Relations. Ms. Schuman is Executive Chair of SYPartners, a consultancy that partners with the worlds most senior leaders undergoing business and cultural transformations. Those launches are performing above our expectations. Details may include related records, political party, location, and more. Robert Marc Bakish's Connecticut Voter Registration. 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. and really a long track recordship of partnership and customer services with agencies and their clients. A runoff election with the top two vote-getters will be held in November unless a candidate wins outright with more than 50% of the vote in the primary. Licensing revenue at Filmed Entertainment increased 27%, largely due to the monetization of recent theatrical releases. 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'd like to thank you for your participation. 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? iSideWith.com is the worlds most popular voting guide for citizens to find information about elections, political parties, candidates, voting districts and popular political issues in their country. 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. If you are Robert Bakish, . 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. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. Thats because if it fails, their candidacy would be changed to that of a no party preference contender. From 1990 to 2000, Ms. Griego held a number of government-related appointments, including Deputy Mayor of the city of Los Angeles, President and Chief Executive Officer of the Los Angeles Community Development Bank, and President and Chief Executive Officer of Rebuild LA, the agency created to jump-start inner-city economic development following the 1992 Los Angeles riots. In 2017, Bakish knew that he had to take strict measures to restructure Viacom and turn the company around. Most importantly, it's pretty clear that we grew share. Robert Bakish. 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. First, on content spend. Ms. McHale has extensive experience leading a major media conglomerate with a background in operations and financial management, expertise in global affairs, experience in government affairs and extensive public company and corporate governance experience. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. 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? Naveen? Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. And we do see this tracking to TV Media-like markets, which is at the core of your question. So our content investment is definitely working. He has donated more frequently to Democratic politicians in recent years, including contributions to the congressional campaign of his now-opponent Bass in 2010 and 2011. School districts | Obviously, we're in business with Sky in the U.K. and Ireland, and they are very pleased with what we brought to market. We are currently researching Robert Bakishs political policies. 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. We need to give this a bit of time to play out. Yes. In the interim, thanks again for your time, and be well, everyone. In addition to his responsibilities as CEO he is also charged with sitting on Viacoms Board of Directors. 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? 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. But there are real reasons that we see this path to superior margins. Bakish previously headed the companys international business as President and CEO of Viacom International Media Networks (VIMN) since 2007. And just briefly on Filmed Entertainment, Top Gun's success has been pretty remarkable, and it seems like you have a very solid slate for the balance of this year and then, of course, more to come in '23 and '24. She is a member of the Board of Trustees at Dana Farber Cancer Institute. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. And then more broadly, one of the questions we get from investors as they think through the impact of inflation is pricing power. For decades, California law has forbidden the states medical board from considering victim statements in decision-making. And just sort of two related questions. But I think it continues to be evidence that they are both very compelling products, and they both serve unique and large markets. It sounds like you're no longer targeting 60%-plus growth in D2C revenue this year. 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. We're also seeing the power of partnership to bring Pluto TV to greater heights. 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. From June 2010 to December 2017 he was Vice Chairman of Investment Banking and Capital Markets at Credit Suisse. 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. We also saw sequential growth in hours per act. . Sure, Jessica. 2023 iSideWith.com. Prior to joining Sony Corporation of America, Ms. Seligman was a partner in the litigation practice at Williams & Connolly LLP in Washington, D.C., where she worked on a broad range of complex civil and criminal matters and counseled a wide range of clients, including President William Jefferson Clinton and Lt. Col. Oliver North. A new bill in the state Senate could change that. 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. And then at TV Media, I think investors have been a little bit skeptical about the stable guide in OIBDA. Good morning. Our dual revenue stream model delivered 56% year-over-year D2C revenue growth, with total D2C revenue now reaching $1.2 billion in the quarter. When I was a Republican, I was a centrist. But also with targeting, we see IQ and Pluto playing there and therefore benefiting as well. That would normally be about 72,600 voters, but the law also requires excluding unaffiliated voters in the calculation. Millions of new customers are signing up for our streaming services. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc . 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. And then we have Germany and Austria and Switzerland with Sky in December, I believe, as well as France with CANAL+. Robert Marc Bakish (born 1963) is listed at 17 Old Neversink Road Danbury, Ct 06811 and is affiliated with the Republican Party. So a couple of points there. Caruso greets customers at Grand Central Market on Thursday. It is a distinguished firm that developed the first chatbot building platform in the world. 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. John Myers led the Los Angeles Times coverage of state government as Sacramento bureau chief from 2015 to June 2022. And as you said, it's really too early to know exactly what the market will look like in 2023. Just wondering if you could talk in some more detail about the impacts of the macroeconomic environment that you're seeing in the business and particularly what you're seeing in terms of advertising demand across your own platforms. When I was an independent, I was a centrist. Others have been there for years. 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. 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. It's Naveen, I'll take both of those. So I guess the point is just as this business shifts, can you capture enough time spend to have the similar profit look your business has in legacy as you move to streaming, if that makes sense? But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. Please check back soon. So what we're really navigating from an OIBDA perspective is the weakness in the macro advertising marketplace. We are currently researching Robert Bakish. Some of today's financial remarks will focus on adjusted results. And so with some of the slowdown in revenue, is the right way to think about this business that it is just a price taker in the programmatic market, and that price pressure can kind of arrive unannounced? 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. This quarter, Paramount+ added 4.9 million global subscribers and revenue grew 120%, further cementing Paramount+ as one of the fastest-growing premium streaming services. 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. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. TV Media OIBDA declined 8% in the quarter to $1.4 billion, reflecting the flow-through of lower advertising and affiliate revenue. And speaking of the recall: On Thursday, state officials reported that the final price tag was $200.2 million. He also has a wife and kids. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. Me; Robert Bakish; Economic Freedom. 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. Yes. Candidates. The Board takes any allegation of this type seriously. Research: Josh Altic Vojsava Ramaj As we said last quarter, except for the removal of subscribers to our services in Russia, our full year D2C subscriber growth expectations are unchanged. What fascinates me is that were even having this conversation because the electorate, the voters in the city dont care about this. Shortly after changing his registration in 2016, Caruso told Los Angeles Magazine that he had made the switch so that he could vote for John Kasich in the Republican presidential primary that year. It's true that there are some challenges in the scatter market and in digital, and that really is, as you would guess, driven by the state of the macroeconomic environment. I'm particularly interested in whether that's creeping into content production costs. At the center, of course, is our hugely popular content, big, broad and beloved. You may occasionally receive promotional content from the Los Angeles Times. [9] From 2001 through 2004, he was Executive Vice President and Chief Operating Officer of advertising sales at MTV Networks. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. The partys name is no accident, of course, as the group references the American Revolution-era writings of Thomas Paine on its website. Organizers say theyve turned in about 66,000 voter registration forms. Campbell's career in Republican politics ended in 2010 with a failed U.S. Senate primary campaign as his centrist Republican views were drowned out by . Menu Candidates > Robert Bakish > Policies > Healthcare > Stay-At . . Look no further than Top Gun: Maverick, which is already the biggest film of 2022, and our fifth #1 title this year. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. Records show that he re-registered as a Republican in March 2016. Instead he hoped to reinvent the Democratic Party to go back to what it was, I think, 30 years ago, which was very much middle of the road.. In fact, we saw an acceleration of that from Q1 to Q2. Ms. Redstone serves on the Board of Trustees for the Paley Center for Media and is actively involved in charitable, civic and educational organizations. and of course, thinking about our value proposition relative to competing services, where I point out, I think we offer a very strong value position today. All rights reserved. We just have to let it play out a bit. As of September 2022, California officially recognized six political parties: the American Independent, Democratic, Green, Libertarian, Peace and Freedom, and Republican parties. [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. We leverage those assets across many platforms, and it's one of the reasons that we can grow faster, while spending less than others. The success of our streaming platforms speaks to the power of our content strategy. Interns wanted: Get paid to help ensure that every voter has unbiased election information. On scale, our multi-platform strategy is a clear advantage. Nothing is certain except death, taxes and Rick Caruso is a Republican. With an iconic Hollywood film studio that owns more than a century of IP, with the #1 broadcast network in the U.S., with some of the most popular cable brands and content in the world, with the fastest-growing premium streaming service in Paramount+, and with the leading free ad-supported streaming TV service in Pluto TV, it's a powerful combination, which we will continue to lean into for the rest of the year and well into the future. Well, look, we see both headwinds and tailwinds in advertising. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. Deadline is a part of Penske Media Corporation. So is this just a bunch of unhappy Republicans? We've also said that we are going to -- Paramount+ is going to launch with it, essentially as another form of hard bundle, a tier. 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. The last point, your local content, all those markets do have local content dimensions. Within a year of graduating with his MBA, Mr. Bakish was hired at the Booz Allen Hamilton company in 1990. All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. 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? 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. And any thoughts on growth or swing factors and investment drivers top line that would be incremental there. 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. With Pluto, we provide a global platform and global libraries, and our partners provide compelling local content and local ad sales capabilities. 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. Third point I'd make is this is a big year for Western Europe for us. Will it turn to a billionaire mayor? This site uses Akismet to reduce spam. Ms. McHale is President and Chief Executive Officer of Cane Investments, LLC, a private investment company. Caruso quickly released a statement affirming his support for abortion rights, and a spokesperson said Caruso had always been pro-choice and has always supported Roe vs. Wade.. Gary K. Hart, who served as Californias education secretary under Gov. And we got tremendous engagement, i.e., time spent off the library. So we're continuing to move forward. And our 2023 fleet is anchored by fresh commercial takes on some of our most popular and new franchises: from TRANSFORMERS and Teenage Mutant Turtles to Dungeon & Dragons and PAW Patrol, to name just a few. Which brings us to whether the Common Sense Party can compete this year. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. 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