Sure, Brett. At competitive pricing, that makes Paramount a must-buy for marketers who need to efficiently aggregate awareness around their products. External Relations: Moira Delaney Hannah Nelson Caroline Presnell The existing parties have detailed platforms calling for specific policies that are generally to the established left or right on the political spectrum. 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. And any thoughts on growth or swing factors and investment drivers top line that would be incremental there. Do Not Sell or Share My Personal Information, changed his party affiliation to Democratic, 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, Before and after photos from space show storms effect on California reservoirs, Dramatic before and after photos from space show epic snow blanketing SoCal mountains, Yet more rain expected to hit California in March. And we continue to see very healthy levels of growth there, 56% D2C revenue growth in the quarter. 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. 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. It didn't have Paramount+ or Pluto, but I would assume that would close the gap between Netflix and the broader Paramount company. Hard bundle deals like these allow us to quickly unlock a healthy volume of subscribers at 0 acquisition cost and with very low churn. Were looking for character, said Tom Campbell, a former state senator and member of Congress who serves as the partys chairman. 2023 iSideWith.com. That's right, the Wall Street banker who runs a firm . The partys name is no accident, of course, as the group references the American Revolution-era writings of Thomas Paine on its website. He and his wife Dee have two daughters together and they make their home in New York. Several executives within Viacoms subsidiaries were replaced. (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. Starting with direct-to-consumer. 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. Furthermore, he is the companys CEO, meaning that he is the one responsible for overseeing its operations. But our amazing content isn't limited to the silver screen. Recall that our international distribution strategy is focused on achieving ubiquity. And Kopp served his time in the Legislature as an independent. So on content spend, some of your peers have clearly revisited their content spend budgets for the next few years as there is perhaps a greater focus on getting to profitable growth. His opinion is highly valued in the entertainment business industry and beyond. It is a distinguished firm that developed the first chatbot building platform in the world. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. Hes also had international business experience, 6. 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. Same thing is true with South Korea. Jerry Brown in 2014. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Paramount Global (NASDAQ:PARA) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET, Robert Bakish - President, CEO & Directorr, Jessica Reif Ehrlich - Bank of America Merrill Lynch. Prior to joining Hueston Hennigan, Mr. Klieger was a Partner at Irell & Manella LLP and a Founding Partner at Kendall Brill & Klieger LLP. State and local courts | I know it might take some time before we get to the more profitable windows for these films to really flow through the financials. Our first question today comes from Michael Morris from Guggenheim Partners. The title changed in 2006 to Executive Vice President of Viacom Enterprises. But obviously, given the macro advertising headwinds and the fact that there's a little bit less visibility in the back half of the year, it's possible we may not get all the way to that 60%. Republican 2022 US Senate New York. 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. 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. We are currently researching Robert Bakish. 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. Prior to that, he was Executive Vice President, Chief Financial Officer and a Director at Paramount Communications, Inc., formerly Gulf + Western Industries, Inc. Mr. Nelson has served on the board of Hanesbrands Inc. since 2008 and its Non-Executive Chairman since 2019, and on the board of Wyndham Hotels & Resorts, Inc. since 2019. Ms. Schuman is Executive Chair of SYPartners, a consultancy that partners with the worlds most senior leaders undergoing business and cultural transformations. 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. Is this happening to you frequently? First, we're really pleased with how the upfront played out and particularly the volume dynamic in it, which was up nicely. 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. And maybe, along with that, if you could talk about what you're seeing as far as specific advertiser category strength or weakness? 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. | So that's one important economic advantage. 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. 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. You may now disconnect your lines. And in terms of pricing on streaming services, specifically Paramount+, I think you really have to look at that in the context of ARPU more broadly because remember, we have a dual revenue stream model, which means that we're not entirely dependent on price increases for growth. Just think of the biggest movie in the world, Top Gun: Maverick; the most popular TV show in the country, Yellowstone; perennial global hits like the CBS crime procedurals, NCIS and FBI; or the world's most popular preschool franchise, Nickelodeon's PAW Patrol. Sign up for the California Politics newsletter to get exclusive analysis from our reporters. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. 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. Within a year of graduating with his MBA, Mr. Bakish was hired at the Booz Allen Hamilton company in 1990. The last point, your local content, all those markets do have local content dimensions. Morgan Miller, chair of a political action committee promoting Rep. Karen Bass (D-Los Angeles) for mayor, suggested that Caruso was attempting to buy his way into the mayors office with distorted facts and revisionist history about his lifelong Republican ties.. The start-up effort to break the two-party orthodoxy is being organized by a pair of former California lawmakers who spent much of their time in office as ideological misfits. Times staff writer Dakota Smith contributed to this report. 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). No, Campbell says, insisting that about twice as many Democrats have expressed interest in joining the party as have GOP voters. But I think the question that sort of every investor on this call is thinking about is as the business shifts from linear to digital, meaning CBS sort of shrinks in share and Paramount+ and Pluto growing their share, can Paramount maintain sort of aggregate time spend? But in a competitive market, scale isn't enough. 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. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. Yes. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. [30][31][32][33][34] This promotion included responsibility for all Viacom media networks and operations internationally, including MTV, Nickelodeon, Comedy Central, BET, VH1, VIVA, TMF, Game One and MTV Tres;[35][4] plus oversight of all of Viacoms international TV-related joint ventures, including Viacom18 in India and ViacomSBS in Korea, as well as channel ventures with BSkyB in the UK and Foxtel in Australia. And so we benefit at Paramount from having a balance across linear and digital clearly. 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