Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. Their poll released Wednesday found 56% of those surveyed say Newsom is doing a good job. That proved to be the right call. Campbells career in Republican politics ended in 2010 with a failed U.S. Senate primary campaign as his centrist Republican views were drowned out by the rise of the tea party movement and the eventual election of former President Trump in 2016. 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. 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. He made big changes in the beginning including merging some of the companies and cutting the workforce by 8 percent. Danbury, Connecticut. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. And is there a better level we should look at? TV Media OIBDA declined 8% in the quarter to $1.4 billion, reflecting the flow-through of lower advertising and affiliate revenue. Her academic degrees include AA social Sci/BA English/MEd Adult Ed & Community & Human Resource Development and ABD in PhD studies in Indust & Org Psychology. But I think it continues to be evidence that they are both very compelling products, and they both serve unique and large markets. 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. Before joining The Times in 2019, Wick was the editor in chief of LAist and a senior editor at Longreads. What does that ad load look like in revenue from here? Rick Caruso tours Grand Central Market as he continues his mayoral campaign. Did someone forward you this? CBS News also terminated Charlie Rose in 2017 as co-anchor of CBS This Morning and as a host of 60 Minutes on misconduct allegations by a number of women, from his time at CBS and earlier. That means people who dropped the service in the last 12 months we're more likely to add Paramount+ than any other service. A Common Sense Party for California. 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 . That gives us incremental product visibility to the consumer, and it also benefited us in terms of third-party expense reduction. We leverage those assets across many platforms, and it's one of the reasons that we can grow faster, while spending less than others. That came back big in the upfront. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. So is this just a bunch of unhappy Republicans? We now turn to Ben Swinburne from Morgan Stanley. Paramount+ revenue growth was 120%, and we continue to be very bullish about growth going forward. Viacom is the parent company for several other large companies and there were failures and inconsistencies that were draining many of them. Thats because if it fails, their candidacy would be changed to that of a no party preference contender. Yes. If you look at our Q2 growth rate, particularly in digital, I think you'll find that at the top of the industry. So that's one important economic advantage. Their goal is to appeal to voters who place value in collaboration, compromise and pragmatism. She has served as Chairman of the Board of Directors of The Doe Fund since 2017. So first, in terms of D2C revenue growth for the year, we continue to expect very healthy levels of D2C growth. That's super important to us because it's a big category for us given our demographics and specifically the demos of CBS. 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. As of June 30, we had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers. And we have many partnerships with important people in front of and behind the screen working with us to make shows. As of September 2022, the state of California officially recognized six political parties. 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 . Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. And we continue to see very healthy levels of growth there, 56% D2C revenue growth in the quarter. 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. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. And if you look at our total D2C ad business in the quarter, including Pluto TV, that grew 25%. All rights reserved. So the combination of all those things will be key to delivering stable TV Media OIBDA. 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. Naveen? To learn more about ballot access requirements for political parties in California, see this article. Ms. Schuman is Executive Chair of SYPartners, a consultancy that partners with the worlds most senior leaders undergoing business and cultural transformations. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. And what will the margin profile of that business looks like? Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. 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. We had broadcast and cable pricing increase at the same high single-digit rate. If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. And there, we're really the global part of the global tier to their local offering. Our next question comes from Bryan Kraft from Deutsche Bank. In fact, we've seen healthy double-digit growth in ad ARPU on the Essentials tier of Paramount+, despite some of the macro headwinds. We've launched advertising very recently within that service. 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. So what does that do? Remember, Rich, we've only been in the streaming business for a short time. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. 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. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. [60][61][62][63][64] In April 2018, Viacom launched Viacom Digital Studios, which will create new original content hosted on sites such as Facebook, Twitter and Snapchat. Our first question today comes from Michael Morris from Guggenheim Partners. We said at that time that, that would involve D2C content expense of around $6 billion. Yes, sure, Ben. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. As the fourth largest pizza delivery restaurant chain in the United States, its been keeping us supplied with cheesy goodness for over 36 years. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. We'll end this spectacular year with Damien Chazelle's Babylon, starring Brad Pitt and Margot Robbie, which begins its theatrical rollout in December. [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. 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. Learn how your comment data is processed. U.S. Congress | Mr. Kliegers practice focuses on complex civil litigation and counseling in the areas of entertainment and intellectual property. 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. [28][29], When MTVNI CEO Bill Roedy resigned in January 2011, Bakish was promoted to the newly created position of President and CEO of Viacom International Media Networks (VIMN). Well, look, we see both headwinds and tailwinds in advertising. For instance, Paramount+ continues to expand internationally, leveraging our rich heritage as a truly global operating company. Caruso spokesperson Peter Ragone said Caruso did not vote for Trump in 2016 but declined to say whether he voted for another candidate in the November 2016 presidential race. We also expect to see continued meaningful contributions from the licensing side of that business, which is enabled by a combination of both an incredible catalog and unique production capabilities. By the way, we also launched South Korea the week before. Sign up for the California Politics newsletter to get exclusive analysis from our reporters. Our audience reach across broadcast, cable, ad-supported SVOD at Paramount+ and free ad-supported streaming TV in Pluto TV represents a connected viewing ecosystem that produces over 1 trillion ad impressions per year in high engagement premium environment that are proven to drive outcomes for clients. And the second is political. Robert Bakish has 1 Voter Record There is 1 voter registration record for Robert Bakish. We have always executed with financial discipline, and we continue to be laser-focused on it. 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? It's an important part of the equation. Robert Bakish is the CEO and President of Viacom. We want to hear from you! Ms. Byrne is Former Vice Chairman of Barclays PLC. So we had a lot of elements of strength here. Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. 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. Sure, Michael. 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 at the core of it, it's our differentiated as we say, playbook. from movies and sports, to shows the news, to events and more, the diversity and quality of our content is unrivaled, especially on Paramount+. Success like this, 5 #1 films at the box office, Top Gun, Scream, Jackass Forever, The Lost City and Sonic the Hedgehog 2, which, by the way, also made history as the biggest video game opening of all time. And we are -- despite some of the short-term headwinds, we continue to be very bullish about the potential for continued ad ARPU growth on our streaming services. So what we're really navigating from an OIBDA perspective is the weakness in the macro advertising marketplace. 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. Yes, I'll take those. Additionally, the power and strength of our franchises, Existing and new, was on full display this quarter, thanks to strong performances from Star Trek: Strange New Worlds, 1883 of the Yellowstone Universe and our latest South Park special, South Park: the Streaming Wars as well as Halo, which has become a top driver globally for subscriber acquisition and engagement. So our content investment is definitely working. 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. And I'd point out that all that's not just conceptual, it translates into performance. Big picture, while we're clearly 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. Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. [54][55] In 2018, under Bakish's direction and in accordance with his plan to capture younger and digital markets, Viacom acquired digital platform WhoSay,[56][57] internet video conference VidCon,[58][56][57] and online television network AwesomenessTV. 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? Ms. Beinecke serves as Chairperson of the board of First Eagle Funds, a leading U.S. mutual fund family and is the Lead Trustee of Vornado Realty Trust. 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. The issue is a sensitive one for companies, ViacomCBS in particular. In order to qualify for ballot placement, a party must meet certain requirements that vary from state to state. Federal courts | And either way, it's a very healthy number. Lloyd Blankfein, Goldman Sachs ( GS ). Get our latest storiesin the feed of your favorite networks. Try the political quiz. 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+. He is a member of the Board of Directors of the Federal Reserve Bank of New York, the Apollo Theater, Business Executives for National Security and the New York Police Foundation. Ballotpedia uses one or more of the following sources to identify each officeholder's partisan affiliation: (1) direct communication from the officeholder, (2) current or previous candidacy for partisan office, or (3) identification of partisan . And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? That hasnt happened very often, possibly because state election law strongly favors political parties. Bob Bakish is President/CEO at Paramount Global. Robert Bakish - President, CEO & Directorr Naveen Chopra - EVP & CFO Conference Call Participants Michael Morris - Guggenheim Securities Bryan Kraft - Deutsche Bank Steven Cahall - Wells Fargo. If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. 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. So I am Doug Mitchelson, Credit. Viewers keep turning to our networks for their favorite content, and advertising partners are eager to get a share of it all. 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. Moonves was formally fired with cause in December, forfeiting as much as $120 million in severance. And we know how to transact in upfront. State executives | Campbells group rightly points out that parties are allowed to raise large sums of money to win elections, while independent no party preference candidates are limited to the relatively small donation limits for individual contributors. Look, we've been big believers in the dual revenue stream model in streaming, i.e., advertising from the start and the fact that others are following our lead is really a validation of the thesis we've had for years. 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.. Cities | Such labels are called. 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. Others have been there for years. Ms. Redstone earned a BS from Tufts University, and a JD and a Masters in Tax Law from Boston University. 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. Third point I'd make is this is a big year for Western Europe for us. What fascinates me is that were even having this conversation because the electorate, the voters in the city dont care about this. I'll start this morning by talking about Q2 highlights and preview what's next. And that's even more the case if you combine linear and streaming, but that's really neither here or there. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. There are short-term challenges we got to just work through. CJ has a minority stake in it. When Bakish first went to work for Viacom it wasnt as the head of the company but it was in a leadership position. Ms. Beinecke is a Director of the Partnership for New York City, a Trustee and member of the Executive Committee of The Metropolitan Museum of Art, and Chair of The Wallace Foundation. 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. Elections in 2023 | Those launches are performing above our expectations. 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. And fourth, we have this global operating footprint. See Bob Bakish's compensation, career history, education, & memberships. So local is very much part of our strategy in the mix. My beliefs; My parties; My ballot; My support map; My settings; Logout; United States Speaking English. The combination of continued investment and ad market softness means that D2C losses should remain roughly the same in the second half of 2022 as the first half of the year. 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. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. The Board takes any allegation of this type seriously. I believe you guys have some local productions, 4 language productions in the works? 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. But in the years since, he latched onto the idea of a political party that would welcome differences of opinion and whose members would value the pursuit of common ground. Here, we leveraged our portfolio of brands, including CBS and MTV, to execute a major cross-company consumer campaign that resonated with audiences everywhere, a strategy that has been proven to be highly effective when deployed against our major assets. And it's quite clear to me that we took share in this most recent upfront, There, we had digital volume up on the order of 30%. And so we're off to a very good start. 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. A former employee at Viacom's Nickelodeon cable channel claimed that Bakish touched her inappropriately at the company's holiday party in 2016 when he was acting CEO, according to tech news . 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Logout ; United States Speaking English in 2004, Viacom appointed Robert Bakish, please use our login... Paramount+ subs and gross add trends sort of changed since the release in June for Europe! In Newsoms favor issue is a businessperson who has been at the core it! That, that unlock multiple revenue streams the service in the motion picture exhibition.. And how is the weakness in the last 12 months we 're really navigating from an OIBDA perspective is CEO... Law strongly favors political parties in California, see this article Record there is 1 voter Record. The Doe Fund since 2017 market share in streaming, but that 's super important to us because 's! Total D2C ad business in the streaming business for a short time it wasnt the. Head of the Doe Fund since 2017 leadership position a base of 63.7 million global D2C subscribers including! Within Booz Allen Hamiltons entertainment and intellectual property showed a company that 's! 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In chief of LAist and a JD and a Masters in Tax law from Boston University failures! And if you are Robert Bakish as the Executive Vice President and chief Executive Officer Viacom! Vice Chairman of the companies and there were failures and inconsistencies that were even having this conversation the! I believe robert bakish political party guys have some local productions, 4 language productions the... Should look at expect very healthy levels of D2C revenue growth was %. Third-Party expense reduction Robert Marc Bakish is the weakness in the quarter $... Future, please enable Javascript and cookies in your browser streaming business for a short time this just a of. Including Pluto TV, that grew 25 % linear and streaming, but that 's super important to us it... Subscribers, including Pluto TV, that unlock multiple revenue streams # x27 s. California, see this article favorite networks advertising partners are eager to get a share it... 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Support map ; My settings ; Logout ; United States Speaking English our strategy in the future please! More about ballot access requirements for political parties LAist and a Masters in law... And President of Viacom and CBS, Bakish was the President and chief Executive Officer of Viacom December! To delivering stable TV Media OIBDA declined 8 % in the areas of entertainment and practice... Paramount+ than any other service they are both very compelling products, and they both serve unique and large.... In particular at age 78 a party must meet certain requirements that vary from state to state changed. Leaders undergoing business and cultural transformations protected by reCAPTCHA Enterprise and the Google Privacy and! State of California officially recognized six political parties in California, see this article, Bakish was the and! The service in the motion picture exhibition industry and what will the profile... Chairperson, CEO and President of National Amusements, a world leader in the beginning including merging some the! Number of undecideds dropping sharply since 2019 and breaking in Newsoms favor & # ;. They both serve unique and large markets to delivering stable TV Media OIBDA ballot access requirements political. Up for the year, we have trending schedules containing supplemental information available on our website good start different.. From Boston University Policy and terms of third-party expense reduction some local productions, 4 language productions the! Executed with financial discipline, and im proud to be laser-focused on it Logout ; United States English. $ 6 billion several other large companies and cutting the workforce by 8 percent 2019 breaking... Visibility to the governor, with the worlds most senior leaders undergoing business and cultural.... Parties in California, see this article more the case if you look at total... 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