Robert Bakish is the CEO and President of Viacom. Robert Bakish earned praise for his work, 7. Deadline is a part of Penske Media Corporation. Bakish grew up in New ersy. Will it turn to a billionaire mayor? So very good supply side equation. He is a male registered to vote in Connecticut. Warmer storms could cause problems, Rick Caruso could soon be L.A. mayor. Mr. Phillips earned a BS in Computer Science from the U.S. Air Force Academy, an MBA from Hampton University and a JD from New York Law School, and he is a member of the Georgia State Bar Association. So first, in terms of D2C revenue growth for the year, we continue to expect very healthy levels of D2C growth. Speaking to the Sherman Oaks Homeowners Assn. Based on third-party data, Paramount+ is the #1 premium service in the U.S. in sign-ups and net subscriber additions, both this quarter and year-to-date. 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. 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 . iSideWith is not affiliated with any political party, candidate, or interest group. 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. First, on content spend. She is Non-Executive Chair of Paramount's Board of Directors, having previously served as Vice Chair of the Boards of Viacom Inc. and CBS Corporation prior to the combination of the companies in 2019. 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But look back across his time in office and you find a majority of voters have given him good marks in every PPIC poll since January 2020, before pandemic concerns reached California. 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. But I think it continues to be evidence that they are both very compelling products, and they both serve unique and large markets. I'll start this morning by talking about Q2 highlights and preview what's next. 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. Me; Robert Bakish; Economic Freedom. But -- so the current inflation driving things like higher fuel prices and all is not really that much of a factor for us incremental. The first is, to what extent are you seeing any inflationary cost pressures in the business? His opinion is highly valued in the entertainment business industry and beyond. 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. The last point, your local content, all those markets do have local content dimensions. Our next question is from Kutgun Maral from RBC Capital Markets. We continue to look at how we optimize the tiering along with that, but it's part of a broader overall ARPU story. 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. Caruso greets customers at Grand Central Market on Thursday. Elections in 2023 | His campaign also declined to answer questions about what elements of the Republican Party Caruso identified with in 2016 beyond his support of Kasich, or why Caruso chose to change his registration away from Republican in late 2019, nearly three years into Trumps presidency. The title changed in 2006 to Executive Vice President of Viacom Enterprises. 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. It's Naveen. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. Early life and education [ edit] Bakish was made the President of MTV Networks international at the beginning of 2007. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. Yes, let me just jump in here. And just sort of two related questions. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. With respect to composition of subscribers at Paramount+, it's still balanced between the premium tier and the ad-supported essentials tier that can bounce around a little bit from quarter-to-quarter based on promotions and bundles and things that we may be doing with partners. Several executives within Viacoms subsidiaries were replaced. While we could have released Top Gun: Maverick and The Lost City earlier, we held off because we knew these phenomenal stories would bring audiences back to theaters. Also worth noting that we're taking advantage of the current situation to increase our level of promotion for in-house assets, particularly with respect to Paramount+. You Quiz Candidates Elections Issues Discuss. U.S. President | Paramount+ added 4.9 million global subs, while our other streaming services grew modestly. And yes, we've got to manage through some near-term macroeconomic headwinds, but we will. Which brings us to whether the Common Sense Party can compete this year. And I think we'll probably finish the year with very healthy revenue growth across the segment. We have always executed with financial discipline, and we continue to be laser-focused on it. [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. And again, they're very happy with what we brought to market and how it's performing. 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. I was wondering if you can give us your latest thoughts on when or whether you believe you'll be in a position to potentially start raising price on your streaming services, most notably Paramount+? This week, the effort came up short. Their poll released Wednesday found 56% of those surveyed say Newsom is doing a good job. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc . In September, another season of the NFL and SEC college football also returns to CBS and Paramount+ in the U.S. Prior to Barclays, Ms. Byrne worked at Lehman Brothers, where she was the first woman to serve as Vice Chairman. Such labels are called. 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. So what we're really navigating from an OIBDA perspective is the weakness in the macro advertising marketplace. Most importantly, it's pretty clear that we grew share. 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? U.S. Congress | By the end of the year, inclusive of Paramount+ and Sky Showtime, we expect to have our subscription video-on-demand services in 60 total markets. 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. Bob Bakish ViacomCBS ViacomCBS Thursday acknowledged that the company had conducted a review of a complaint by a former employee against CEO Bob Bakish but found no ground to support it. And as you said, it's really too early to know exactly what the market will look like in 2023. Success like this isn't a given, it requires the right strategy and strong execution. Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. Today's call is now concluded. This consisted of focusing on Viacom's six flagship brands: BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Paramount; revitalizing content and talent; deepening distributor and advertiser partnerships to drive traditional revenue; increasing digital offerings, consumer products and live experiences; and optimizing and energizing the organization. Look no further than Top Gun: Maverick, which is already the biggest film of 2022, and our fifth #1 title this year. In terms of your question on the Filmed Entertainment business, obviously, we have not provided any specific long-term guidance there. 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 in closing, we're continuing to create value across our business, from theatrical, to streaming, to advertising. He was responsible for the oversight of all of MTV Networks business operations outside of the United States. 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. 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. On scale, our multi-platform strategy is a clear advantage. Danbury, Connecticut. Well, look, we see both headwinds and tailwinds in advertising. But if you look at Q2, Paramount's combined U.S. linear delivery was bigger than Netflix. 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. When Bakish first went to work for Viacom it wasnt as the head of the company but it was in a leadership position. The success of our streaming platforms speaks to the power of our content strategy. Importantly, Bakish created a new, unified global streaming organization and strategy to maximize Paramount content across pay, free and premium streaming services spotlighted by Paramount+, Pluto TV and Showtime OTT. And so for instance, there are certain parts of the product where advertising is not yet enabled and that will continue to evolve over time. Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. 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. . The momentum of Paramount+ is not just the product of its strong and diverse portfolio of content, it's also the product and the smart distribution strategy, which is bringing our flagship streaming services to more audiences than ever before. Hes also had international business experience, 6. Although there are hundreds of political parties in the United States, only certain parties qualify to have the names of their candidates for office printed on election ballots. Second quarter results demonstrate the value of our diversified media business and expansive monetization platforms. 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. That's showing up in certain categories, things like auto continues to be impacted by the supply chain. [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. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. That's super important to us because it's a big category for us given our demographics and specifically the demos of CBS. 28, a prominent restaurant in downtown Los Angeles that she founded in 1988. [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. With that, operator, can you please open the line for questions? Robert M. Bakish is President and Chief Executive Officer of Paramount Global. He's held the position since December of 2016 after working several years with the company. 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. I mean we deployed it in the U.K. From 1994 to 2003, Mr. Nelson served as Co-Chief Operating Officer of DreamWorks SKG. This earned him well deserved recognition and praise. Gavin Newsoms popularity has suffered as his administration has struggled to keep up with the ever-evolving COVID-19 pandemic. And at the core of it, it's our differentiated as we say, playbook. L.A. loves the glitz but suspects the rich. But really, competition is nothing new. And in terms of the ad load specifically, it's more a function of continuing to build out the ad products on Paramount+. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. She practiced corporate law, estate planning and criminal law in the Boston area before joining National Amusements. There, we're working with TVING, which is a local streamer. 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. We now turn to Rich Greenfield from LightShed Partners. 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. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. And then we have Germany and Austria and Switzerland with Sky in December, I believe, as well as France with CANAL+. His investment banking career began in 1983 as an Associate with The First Boston Corporation. These risks and uncertainties are discussed in more detail in our filings with the SEC. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. But I care deeply, Campbell said. And we're just getting started. 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. At the same time, he guided the company to launch Viacom Play Plex and other innovative mobile streaming offerings that introduced a new generation of young audiences to Viacoms popular brands and IP. 2023 iSideWith.com. 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The CBS board at the time accused him of willful and material malfeasance.. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch And we have many partnerships with important people in front of and behind the screen working with us to make shows. It seems like the MAU growth is strong. 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.. Nowhere is our popularity more evident than at the box office. And by the way, the response to the launch more broadly has been very strong, including what we showed in London related to the launch event. Menu Candidates > Robert Bakish > Ideology. 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. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. That came back big in the upfront. And therefore, we see sub growth not only coming from really engagement from the hard bundles where more and more people use it, but we also see those other 2 pillars of the distribution strategy beginning to kick in, and in fact, they already have. When I was an independent, I was a centrist. They took a similar tack when abortion became a campaign issue early last month after a draft opinion appeared to show that the Supreme Court is poised to overturn Roe vs. Wade. At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs. But in a competitive market, scale isn't enough. 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. The conventional wisdom, based on news headlines and social media, is that Gov. It definitely extends past that. Gary K. Hart, who served as Californias education secretary under Gov. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. Bakish became CEO of Viacom in 2017 and was named chief of the combined company when Viacom and CBS merged in December. 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. What fascinates me is that were even having this conversation because the electorate, the voters in the city dont care about this. 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? To attract the best partners and build the best business, you've also got to make it easy and efficient for advertisers to reach their audiences of choice. We want to hear from you! Is that right? 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.. from movies and sports, to shows the news, to events and more, the diversity and quality of our content is unrivaled, especially on Paramount+. John Myers led the Los Angeles Times coverage of state government as Sacramento bureau chief from 2015 to June 2022. 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? Second, there are 2 important new category tailwinds that we'll see probably late Q3 and certainly Q4. Newsoms worst year in office, by this standard, was his first: Only 44% of adults surveyed approved of his work in polls conducted at the beginning and near the end of 2019. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. And so we're off to a very good start. Should the Common Sense Party be successful and recruit candidates who win, it could make a little history. That hasnt happened very often, possibly because state election law strongly favors political parties. We now turn to Ben Swinburne from Morgan Stanley. Ballot measures, Who represents me? We added 5.2 million global D2C subscribers in Q2. And does that grow over time in terms of ad load? Viewers keep turning to our networks for their favorite content, and advertising partners are eager to get a share of it all. Good morning. Consider subscribing to the Los Angeles Times. He led the strategic planning as well as the companys business development. The bottom line: None of this is going to help fuel an effort from a prominent challenger. Their goal is to appeal to voters who place value in collaboration, compromise and pragmatism. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Republican 2022 US Senate New York. And it's highly coveted by advertisers. [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. Along with that, but we will title changed in 2006 to Executive Vice of. Things like auto continues to be laser-focused on robert bakish political party from a prominent.! And SEC college football also returns to CBS and Paramount+ in the he... Those markets do have local content, and we continue to expect very healthy levels of D2C growth those do! 'Ll start this morning by talking about Q2 highlights and preview what 's next work for Viacom it wasnt the! I think it continues to be laser-focused on it I 'll start morning. 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