We have always executed with financial discipline, and we continue to be laser-focused on it. 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. 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. I think you covered the -- I think you got it. [6][7] He earned an MBA from Columbia Business School in 1989. So yes, there will be incremental options in the market. Perhaps the most radical idea, at least by todays politics, is the Common Sense Partys pledge to back a candidate of another party if they have no candidate in the race and the person demonstrates, as the partys website says, an independence that is responsible, open and inclusive.. She began her career at Mobil Oil Corporation. So that's really the ad market. It definitely extends past that. 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's Naveen, I'll take both of those. We've got a broad offering. Robert Bakish - President, CEO & Directorr Naveen Chopra - EVP & CFO Conference Call Participants Michael Morris - Guggenheim Securities Bryan Kraft - Deutsche Bank Steven Cahall - Wells Fargo. Carusos campaign appears to be taking a concerted strategy to discuss his Republican history as little as possible, largely declining to offer further clarity on his past views. [82][83], Bakish and his wife Dee live in New York and have two daughters. The company is a management and technology consulting firm. TV Media affiliate revenue declined 3% in the quarter. Ms. Byrne has held a number of board positions, including as a member of the New York City Board of the British-American Business Council, an Executive Committee Member of the Mount Holyoke College Board of Trustees, Chairman of the Finance Committee at Mount Holyoke College, a member of the Audit Committee of Mount Holyoke College, and a member of Stuart Country Day School. [8], In October 1999, he became the Executive Vice President of Planning and Business Development of Viacom's subsidiary MTV Networks. | Warmer storms could cause problems, SoCal winter storm exits with a bang: Icy downpours at Disneyland and 1,000-foot snow levels. So yes, local content is one thing. 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. Here are 10 you cant miss, Rain check! With the help of partners, Sky and CJ Entertainment, we just launched Paramount+ in the U.K., Ireland and South Korea. 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. Yes, sure, Ben. We now turn to Jessica Reif Ehrlich from Bank of America Securities. Ms. Seligman joined Williams & Connolly in 1985. But our amazing content isn't limited to the silver screen. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. Caruso has typically dismissed criticism and most questions about his registration history. Robert Marc Bakish received an MBA from Columbia Business School and an undergraduate degree from Fu Foundation School of Engineering & Applied Science. RB >RB Party's support base May 1st . So we're very excited about this transformation journey that we're on. [10], In 2004, he was appointed Executive Vice President of Operations of Viacom, Inc.,[11][12][13][14][15] and in 2006 he was also appointed Executive Vice President of Viacom Enterprises. As of September 2022, California officially recognized six political parties: the American Independent, Democratic, Green, Libertarian, Peace and Freedom, and Republican parties. Before joining The Times in 2019, Wick was the editor in chief of LAist and a senior editor at Longreads. Caruso greets customers at Grand Central Market on Thursday. And fourth, we have this global operating footprint. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. So local is very much part of our strategy in the mix. Most importantly, it's pretty clear that we grew share. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. And any thoughts on growth or swing factors and investment drivers top line that would be incremental there. Before beginning his career in private practice, Mr. Klieger served as a law clerk to the Honorable Cynthia Holcomb Hall of the United States Court of Appeals for the Ninth Circuit, and the Honorable William Matthew Byrne, Jr. of the United States District Court for the Central District of California. And speaking of the recall: On Thursday, state officials reported that the final price tag was $200.2 million. [21][18][22][12], In January 2007 Bakish became President of MTV Networks International (MTVNI),[23] with financial and management responsibility for MTVNI, overseeing all MTV Networks operations outside the U.S.[22] He immediately restructured MTVNI, cutting 8% of the workforce in addition to merging some overseas units with the UK business and devolving responsibilities for Latin American operations to new offices across the region. She is a member of the Board of Trustees at Dana Farber Cancer Institute. Yes, Steven, let me take the Pluto piece and then Naveen will go from there. 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. 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.. Less attention has been paid to the fact that Caruso re-registered as a Republican in March 2016, according to records from the Los Angeles County registrar-recorder/county clerks office. Domestic affiliate revenue was flat in Q2, excluding a 50 basis point headwind from a year-over-year decrease in pay-per-view revenue. Packaged goods is managing through inflation issues, which is really impacting their ad spending as they look to protect margins. if(document.getElementsByClassName("reference").length==0) if(document.getElementById('Footnotes')!==null) document.getElementById('Footnotes').parentNode.style.display = 'none'; What's on my ballot? There, we're working with TVING, which is a local streamer. It's not an overwhelming part, but it is part of it. In fact, we saw an acceleration of that from Q1 to Q2. We also have -- in the U.K., we have Channel 5, so it has relationships that are triggering stories there. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. Robert M. Bakish is President and Chief Executive Officer of Paramount Global. Our content consistently attracts and entertains mass audiences. External Relations: Moira Delaney Hannah Nelson Caroline Presnell Viewers keep turning to our networks for their favorite content, and advertising partners are eager to get a share of it all. 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. The success of our streaming platforms speaks to the power of our content strategy. We now turn to Ben Swinburne from Morgan Stanley. Millions of new customers are signing up for our streaming services. To your question of is this Q2 only boost to subs? [25][36] He oversaw the expansion of networks such as Nickelodeon, Comedy Central and Spike to an increasing number of foreign markets,[25][36] and helped orchestrate the acquisition of Channel 5 in the UK and Telefe in Argentina. 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. Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. 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. Advertisers are focused on being associated with premium content, and we have a really diverse collection here across entertainment, sports and news. Your support helps us deliver the news that matters most. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. But in a competitive market, scale isn't enough. 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. He previously served on the board of Convergys Corporation. She previously served on the board of ALSTOM, a public French transport company. Robert Bakish earned praise for his work, 7. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. Paramount+ added 4.9 million global subs, while our other streaming services grew modestly. It really has 3 fundamental components: hard bundle, plus channel stores like Roku and Amazon and Apple, and direct D2C on an O&O basis. It helps our marketing economics, and it shouldn't be discounted. 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 . She is a native Angeleno. 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). In fact, we've seen healthy double-digit growth in ad ARPU on the Essentials tier of Paramount+, despite some of the macro headwinds. Were looking for character, said Tom Campbell, a former state senator and member of Congress who serves as the partys chairman. Our last question comes from Philip Cusick from JPMorgan. Or does it extend past that? 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. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Katharine Frey Jimmy McAllister Samuel Postell We don't obviously guide to Pluto specifically. Menu Candidates > Robert Bakish > Policies > Healthcare > Stay-At . He and his wife Dee have two daughters together and they make their home in New York. 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. Mr. Terrell serves as a member of the board of directors of The Bank of New York Mellon Corporation, and has served as a member of the board of the New York Life Insurance Company, Wellchoice Inc. (formerly Empire Blue Cross Blue Shield) and Carver Bancorp, Inc. His experience also includes past and present service on multiple not-for-profit boards, including the Yale School of Management, The Partnership for New York City, The Partnership Fund for New York City, Coro New York Leadership Center, Big Brothers Big Sisters of New York City and the Center for a New American Security. Of Paramount global registration history to Ben Swinburne from Morgan Stanley it has relationships that are triggering stories.. Understand that submitting my email address allows iSideWith.com to send me important via! 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