We now turn to Ben Swinburne from Morgan Stanley. One on content spend and one on film entertainment, if I could. At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. Kevin de Len just postponed Wakanda Forever screening after uproar, 12 reasons why Sycamore Avenue is L.A.s coolest new hangout, Student debt is a crisis: Activists rally outside Supreme Court for loan forgiveness, Couple sues Pasadena fertility clinic after baby is born with stomach-cancer gene, Legislators propose changes to Californias conservatorship law, Los Angeles Mayor Karen Bass endorses Rep. Barbara Lee in Senate race, Sirhan Sirhan, convicted of killing Robert F. Kennedy, denied parole by California board, From Tahoe to Yosemite to Arrowhead, heavy snow buries California mountain communities. And the 2022 cycle is starting to look like it could mirror the California gubernatorial reelection blowout wins for Gov. For the full year, our outlook for stable year-on-year OIBDA at Filmed Entertainment remains unchanged. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. Rick Caruso fields media questions on Thursday. And Jessica, with respect to the question on content spend in future years, I'd point you back to what we shared during our Investor Day back in February. And most importantly, deeper engagement resulted in sizable improvement in domestic churn. Shortly after changing his registration in 2016, Caruso told Los Angeles Magazine that he had made the switch so that he could vote for John Kasich in the Republican presidential primary that year. 2023 Deadline Hollywood, LLC. Good morning. The conventional wisdom, based on news headlines and social media, is that Gov. She practiced corporate law, estate planning and criminal law in the Boston area before joining National Amusements. Your support helps us deliver the news that matters most. And of course, we will continue to have a lot of innovation and discipline on the cost side of the equation, and that's true across programming, it's true across marketing, and it's true across our broader operations. All rights reserved. Caruso was a Republican for much of his life. Which brings us to whether the Common Sense Party can compete this year. 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. So in closing, we're continuing to create value across our business, from theatrical, to streaming, to advertising. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. Despite L.A.s global image as a place of glamour and glitz, city voters have tended to select mayors who have done time on the government payroll. 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. For example, in some states, a party may have to file a petition in order to qualify for ballot placement. He led the strategic planning as well as the companys business development. Within a year of graduating with his MBA, Mr. Bakish was hired at the Booz Allen Hamilton company in 1990. He was a President of Oracle Corporation from 2003 to 2010 and served as a member of its Board of Directors and Executive Management Committee from 2004 to 2010. And what will the margin profile of that business looks like? Prior to Barclays, Ms. Byrne worked at Lehman Brothers, where she was the first woman to serve as Vice Chairman. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. To your question of is this Q2 only boost to subs? The most important thing to remember is that when we think about our content investment, we're always looking at it in the context of the growth and the return that it unlocks. Pluto TV is already the #1 free ad-supported streaming television service in the U.S. And this quarter, monthly active users grew to nearly 70 million globally. He has been President and CEO of Paramount Global since December 4, 2019, formerly holding the same position at Viacom before the merger with CBS Corporation. Will it turn to a billionaire mayor? Early life and education [ edit] It's not an overwhelming part, but it is part of it. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. Times staff writer Dakota Smith contributed to this report. By the time he was finished, the company was in much better condition and he had achieved several objectives for improving Viacom which earned him respect in the industry and accolades. All Rights Reserved. | Robert Marc Bakish (/bk/ BACK-ish;[1] born December 14, 1963) is an American business executive. Wed, Feb 16 20228:34 AM EST. Or does it extend past that? All of these advantages came to life in Q2. Bob, could you talk a little bit about how the launch went in the U.K. and South Korea in the quarter, sort of the strategy to drive that business? Some of today's financial remarks will focus on adjusted results. We delivered 19% total company revenue growth through continued strong D2C momentum and record performance at the box off. And at the core of it, it's our differentiated as we say, playbook. In closing, we are enthusiastic about the long-term opportunity for Paramount, unlocked by powerful content and a massive and growing market for streaming. Bye-bye. And through partnerships with Viaplay Group and Corus, we are now expanding Pluto TV's international footprint in the Nordics and Canada, respectively. Should someone be thinking otherwise, the most recent campaign finance report shows the governor has almost $25 million in the bank. We leverage those assets across many platforms, and it's one of the reasons that we can grow faster, while spending less than others. And Mike, with respect to your question on the outlook for 2023, I'd really say 2 things. 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. He went on to attend Columbia University where he studied in their School of Engineering and Applied Science. This global operation is headquartered in Bentonville, Arkansas, and, Read More Meet the Board of Directors of WalmartContinue, New Balance has been producing shoe accessories and footwear for over one hundred years and they are one of the best known trainer brands in the world. And though we don't have any imminent price changes, they will happen in the future, and we'll do it while also taking into account the evolution of our content offering, looking at what sort of bundles and other promotional opportunities are available to our customers. The billionaire developer has said little about global warming. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Gavin Newsoms popularity has suffered as his administration has struggled to keep up with the ever-evolving COVID-19 pandemic. As evidence, it is worth noting that we recently had our strongest multi-platform unified upfront yet. Interns wanted: Get paid to help ensure that every voter has unbiased election information. It's true that there are some challenges in the scatter market and in digital, and that really is, as you would guess, driven by the state of the macroeconomic environment. Just could you give us a sense of your appetite to build that out as a part of the offering as you grow the business outside the U.S.? That's another launch with Sky on a hard bundled basis. The Common Sense Party, on the other hand, promises plenty of room for diversity of thought as long as its in the service of getting things done. The Board takes any allegation of this type seriously. Caruso first switched his registration from Republican to no party preference in late November 2011. By subscribing, I agree to the Terms of Use and Privacy Policy. Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. I just had a couple of questions on one topic, which is sort of the international opportunity with Paramount+. Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. 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. Mr. Phillips has extensive experience as a senior executive in a large, multinational corporation, financial industry background and financial and analytical expertise, significant public company and corporate governance experience, expertise in technology issues and familiarity with issues facing media, new media and intellectual property-driven companies and a deep knowledge of Viacom. 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. Danbury, Connecticut. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. 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. Research: Josh Altic Vojsava Ramaj [16][17][18][19][20] In these two positions, he was responsible for Viacom's strategic planning and business development plus oversight of a range of business units including Famous Music, Famous Players, Viacom Plus sales and information services and technology, as well as heading Viacom's cross-divisional marketing council. . For instance, Paramount+ continues to expand internationally, leveraging our rich heritage as a truly global operating company. When I say audiences, I don't just mean kids or adults, I mean the whole household, not just the coast, but the entire country, not just the U.S.. but the entire world, not just the streaming audience, but the TV, theatrical and streaming audience. [24] He launched the popular Colors franchise of networks via the Viacom18 joint venture in the high-growth market of India. 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? Nearly three years after Newsom issued an executive order that halted executions in California, the state is accelerating an effort to move incarcerated people off death row and into other prisons. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. It helps our marketing economics, and it shouldn't be discounted. Yes. Get our latest storiesin the feed of your favorite networks. Nothing is certain except death, taxes and Rick Caruso is a Republican. Prior to joining Hueston Hennigan, Mr. Klieger was a Partner at Irell & Manella LLP and a Founding Partner at Kendall Brill & Klieger LLP. So very good supply side equation. Caruso has given extensive financial support to Republican politicians, including more than $240,000 to a super PAC supporting Kasichs presidential run in 2016; $100,000 to a PAC supporting President George W. Bushs reelection in 2004; and $50,000 to a PAC supporting Rep. Kevin McCarthy (R-Bakersfield) in 2017. 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. A couple of clarifications and a question, if I can. As we wrote in December, Newsom seems to have the stage to himself after his resounding defeat of the recall. Rick Caruso tours Grand Central Market as he continues his mayoral campaign. What the dollar commitment -- your commitment is and what your goals are there? And then at TV Media, I think investors have been a little bit skeptical about the stable guide in OIBDA. Then the U.S. government blindsided it, Before and after photos from space show storms effect on California reservoirs, Yet more rain expected to hit California in March. Mr. Kliegers practice focuses on complex civil litigation and counseling in the areas of entertainment and intellectual property.
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