All Rights Reserved. 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. These risks and uncertainties are discussed in more detail in our filings with the SEC. So it's -- for us, it's really about continuing to build the asset value, and we do that by having a great slate that will continue to be heavy on franchises. Campbells group went the route of registering voters and state election law requires a number equal to 0.33% of the total number of registered voters. See Bob Bakish's compensation, career history, education, & memberships. California election officials currently recognize six political parties for purposes of candidates seeking office, with Democrats and Republicans joined by the American Independent Party, the Green Party, the Libertarian Party and the Peace and Freedom Party. And that's even more the case if you combine linear and streaming, but that's really neither here or there. Counties | So yes, there will be incremental options in the market. Importantly, Yellowstone's linear premier will support the streaming launch of Taylor Sheridan's latest original for Paramount+, Tulsa King, which debuts November 13 and stars the one and only, Sylvester Stallone. And then if I could, Naveen, I apologize because I know it's early to discuss '23, but I'd be curious if you could provide any frame of reference for how much greater those peak D2C losses could be in '23 relative to the 2022 outlook? Yes. 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. We see our partners responding enthusiastically. What the dollar commitment -- your commitment is and what your goals are there? | 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. We've launched advertising very recently within that service. In this role, which he assumed in December 2019, Bakish is responsible for growing the companys creative assets, content capabilities and streaming services to serve important and diverse audiences, which consume over 30 billion hours of Paramount content globally across more than 180 countries. Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. Paramount+ added 4.9 million global subs, while our other streaming services grew modestly. Yes, sure, Ben. 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). Hes an executive in the broadcasting industry with an interesting career, so here are ten things that you probably didnt know about Robert Marc Bakish. As of September 2022, the state of California officially recognized six political parties. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. Is that right? [6], After receiving his MBA, Bakish joined the management and technology consulting firm Booz Allen Hamilton in 1990, and rose to become a partner in its media and entertainment practice. 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 . Technology in January 1998. Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. 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. We've done -- we have a very successful track record of putting in place new affiliate deals that either have built-in rate escalators or fixed fee components on the station side of the business. So we're very excited about this transformation journey that we're on. And so it will be a real engine for streaming, and then Paramount+ will benefit by being part of that, even though we're not directly investing on an O&O basis, we're obviously part of the joint venture. 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. We added 5.2 million global D2C subscribers in Q2. 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. But thats not what pollsters at the nonpartisan Public Policy Institute of California have found. Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? Will it turn to a billionaire mayor? We now turn to Ben Swinburne from Morgan Stanley. iSideWith is not affiliated with any political party, candidate, or interest group. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. 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. Ms. Redstone serves on the Board of Trustees for the Paley Center for Media and is actively involved in charitable, civic and educational organizations. Yes. Mr. Klieger represents motion picture studios, broadcast and cable television networks, production companies, video game publishers and high net worth individuals in the media and entertainment space, as well as clients in other industries including apparel, aviation and venture capital. Campbell left the party that year, writing in a newspaper op-ed that a Republican embrace of Trump instead of a candidate for president worthy of our countrys past and its unbounded future would force him to re-register as an independent voter. At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. 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. Overview Policies Discuss Ratings Themes Ideology. 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. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. That matters. As we look ahead in this ad market, there's 2 things I'd note. [6][7] He earned an MBA from Columbia Business School in 1989. [8], In February 1997, Bakish joined Viacom. (Sam Hodgson/The San Diego Union-Tribune), Do Not Sell or Share My Personal Information, a Green Party member who won a special Assembly election in 1999, that the final price tag was $200.2 million, could curb absenteeism and narrow inequities, A new bill in the state Senate could change that, collect information from parents about guns stored at home, is accelerating an effort to move incarcerated people off death row, who served as Californias education secretary, Man arrested in connection to 7 bombings in Fresno has links to hate group, authorities say, Vote on LAPD transit patrols sparks City Hall debate over safety on Metro system, UCLA, UCSF hospital nurses voice complaints about overcrowding, staffing shortages, Couple sues Pasadena fertility clinic after baby is born with stomach-cancer gene. 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. Share. [41][37][42][43] Simultaneously, he was also appointed President and CEO of the newly created Viacom Global Entertainment Group, combining Viacom International Media Networks (VIMN) with Viacom's Music and Entertainment group, which includes MTV, Comedy Central, VH1, Spike TV and Logo TV; two additional networks, TV Land and CMT, also joined the Global Entertainment Group. We think it's an incredible opportunity. Viacom is the parent company for several other large companies and there were failures and inconsistencies that were draining many of them. And then more broadly, one of the questions we get from investors as they think through the impact of inflation is pricing power. Tech: Matt Latourelle Nathan Bingham Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. Two, we have a platform advantage. Revenue grew 1% in Q2 as strong growth in content licensing was mostly offset by declines in advertising and affiliate revenue. State and local courts | [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. Your support helps us deliver the news that matters most. A native of New Jersey,[2] Bakish attended Dwight-Englewood School in Englewood, New Jersey, graduating in 1981. 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? 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. He also sits on the Board of Visitors at the School of Engineering and Applied Science at Columbia University. Ms. Griego has served, since 1986, as President and Chief Executive Officer of Griego Enterprises, Inc., a business management company. At the center, of course, is our hugely popular content, big, broad and beloved. [25][38][26][39][40], In October 2016, Bakish was named acting President and CEO of Viacom effective November 15, replacing interim CEO Tom Dooley. Robert Bakish - $10,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions That came back big in the upfront. In still other states, an aspiring political party must register a certain number of voters. 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. All of these advantages came to life in Q2. I really want to thank everyone for their time today. The title changed in 2006 to Executive Vice President of Viacom Enterprises. That would normally be about 72,600 voters, but the law also requires excluding unaffiliated voters in the calculation. 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? In 2017, Bakish knew that he had to take strict measures to restructure Viacom and turn the company around. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. Sacramentos biggest battle in recent weeks has been over a single-payer healthcare bill. 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. Licensing revenue at Filmed Entertainment increased 27%, largely due to the monetization of recent theatrical releases. Q2 subscriber growth benefited from the launch of Paramount+ in the U.K., Ireland and South Korea as well as continued domestic growth as we added new hit content to the service. This week, the effort came up short. Read our privacy policy for more information. He categorized the matter as a data point for voters hardly fatal, but something that could resonate negatively if they believe its part of a larger picture. Through a strategy to deepen and expand Viacoms presence in digital and live experiences, Bakish also stewarded the key acquisitions of free streaming television service Pluto TV; Gen-Z focused brand Awesomeness; influencer marketing firm WHOSAY; and VidCon, the worlds largest celebration of online video fans and creators. She began her career at Mobil Oil Corporation. RB >RB Party's support base May 1st . 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). We know how to do programmatic. Ballot measures, Who represents me? In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. Get our latest storiesin the feed of your favorite networks. Thank you taking the time to join us for our second quarter 2022 earnings call. Box office hits the Lost City and Sonic the Hedgehog 2 came to Paramount+ in May, generating terrific engagement across all demographics. In this role, which he assumed in December 2019, Bakish is responsible for growing the company's creative assets, content capabilities and streaming services to serve important and diverse audiences, which consume over 30 billion hours of Paramount content globally across more than 180 countries. Naveen? 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But I think it'll probably be relatively close. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. Later this year, the biggest show on television, Yellowstone, returns for its fifth season to the Paramount Network in the U.S. Yes. Bye-bye. Turning to our TV Media segment. So I'd start by saying Pluto is the leader in fast in the U.S. And as you know, it's rapidly growing internationally as well. The first is, to what extent are you seeing any inflationary cost pressures in the business? All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. 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. Republicans have been pretty consistent in their disapproval while Newsoms large margin of support among Democrats has risen. Viewers hungry for incredible storytellers are also turning up in ever greater numbers to our flagship streaming service, Paramount+. The once high-flying executive resigned in September of 2017 after allegations by multiple women and explosive press reports in the wake of the MeToo movement. He served on President Obamas Economic Recovery Board, led by Paul Volcker, and is a member of the Council on Foreign Relations. 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. Search Terms: Robert Bakish Reset All Filters Page 1 of 1 I believe you guys have some local productions, 4 language productions in the works? 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