He was responsible for the oversight of all of MTV Networks business operations outside of the United States. 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. It seems like the MAU growth is strong. 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. And we're just getting started. 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. . [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. Bakish previously headed the companys international business as President and CEO of Viacom International Media Networks (VIMN) since 2007. In still other states, an aspiring political party must register a certain number of voters. After all, to drive best-in-class marketing and distribution, you've got to have best-in-class assets, like the #1 broadcast network in America, the largest broadcast footprint globally, the #1 free ad-supported streaming TV service in the U.S. and one of the fastest-growing premium SVOD services. He worked there out of college and climbed the management ladder, achieving great success. [74], Bakish retained the role of CEO when CBS Corporation and Viacom reunited under a single company to form Paramount Global (then known as ViacomCBS), which closed on December 4, 2019. My beliefs; My parties; My ballot; . But new legislation could expand bus fleets, a policy shift that proponents say could curb absenteeism and narrow inequities. He was listed by the Hollywood Reporter in its listing of The most powerful people in entertainment 2018 as number 20 out of 100. And in terms of the question around the stability of TV Media earnings, as we said, we do expect the -- in the near term, there'll be some impact because of the macro advertising environment. Read our privacy policy for more information. And just sort of two related questions. You may begin your conference call. And at the core of it, it's our differentiated as we say, playbook. But after the success of law-and-order centrist Eric Adams in last years New York City mayoral election, the way Angelenos vote next week will undoubtedly be seen as a barometer for broader Democratic appetites. 2023 Deadline Hollywood, LLC. In 1999, she was named as the first woman to chair a major New York law firm, a position she held for 17 years. 100% remote. We want to hear from you! I just wanted to pick up on some of the Pluto line of questioning. But Caruso offered more candor about his evolving political thinking during a meeting with an influential homeowners group in March. 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. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. The last point, your local content, all those markets do have local content dimensions. 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. And then more broadly, one of the questions we get from investors as they think through the impact of inflation is pricing power. The candidates GOP past has been the subject of frequent fire from his rivals and their supporters. My ballot; My support map; My settings; Logout; United States Speaking English. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. Become a subscriber. The billionaire developer has said little about global warming. And either way, it's a very healthy number. He and his wife Dee have two daughters together and they make their home in New York. We're watching it, but I wouldn't think of that as a step function change for us like it is, for example, for a packaged goods company that's buying raw materials at seeing those prices increase, very different dynamic. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. One on content spend and one on film entertainment, if I could. Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. 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. 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. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. And as you pointed out, our content dollars are used differently than many of our peers. Kasich dropped out of the race in May 2016, and Caruso did not vote in that years primary, according to county records. Look no further than Top Gun: Maverick, which is already the biggest film of 2022, and our fifth #1 title this year. I'll start this morning by talking about Q2 highlights and preview what's next. 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 we're still operating with that in mind. Caruso leaves Grand Central Market on Thursday. [3][4][5], He received a Bachelor of Science in operations research in 1985 from Columbia University's School of Engineering and Applied Science. Two is with respect to Western Europe, we obviously launched the U.K. and Ireland in June. Our next question comes from Bryan Kraft from Deutsche Bank. 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. And in terms of the ad load specifically, it's more a function of continuing to build out the ad products on Paramount+. [54][55] In 2018, under Bakish's direction and in accordance with his plan to capture younger and digital markets, Viacom acquired digital platform WhoSay,[56][57] internet video conference VidCon,[58][56][57] and online television network AwesomenessTV. With less than a week until the Los Angeles mayoral primary, Rick Caruso's political evolution from Republican to Democrat still remains opaque to many voters in the . Yet again, evidence, we are taking market share. Mr. Nelson served as a consultant to Avis Budget Group, Inc. until May 2019. State and local courts | And based on other third-party data, Paramount+ is also the most popular premium streaming service in the U.S. to add among switchers. In terms of your question on the Filmed Entertainment business, obviously, we have not provided any specific long-term guidance there. Records show that he re-registered as a Republican in March 2016. Paramount+ ARPU improved on a sequential basis in Q2, with both domestic and international ARPU higher versus Q1. Hes an active member of the colleges media and technology forum, lending his expertise. It's a powerful and efficient local model. Yes. In fact, we've seen healthy double-digit growth in ad ARPU on the Essentials tier of Paramount+, despite some of the macro headwinds. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs. But I think it'll probably be relatively close. When I was an independent, I was a centrist. And we're looking forward to what that does both for the box office business and also our other channels. And is there a better level we should look at? For example, in some states, a party may have to file a petition in order to qualify for ballot placement. Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. Counties | We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. As of September 2022, California officially recognized six political parties: the American Independent, Democratic, Green, Libertarian, Peace and Freedom, and Republican parties. Apply today! We're expecting advertising related to the midterm to be very strong given what's going on there. Elections in 2023 | As we wrote in December, Newsom seems to have the stage to himself after his resounding defeat of the recall. Voters seeking to better understand his zigzagging political transformation will find few answers in his $25-million barrage of advertisements. Filmed Entertainment OIBDA was $181 million, benefiting from the strong performance of our current year theatrical flights. We know how to do programmatic. Well, look, we see both headwinds and tailwinds in advertising. And that's even more the case if you combine linear and streaming, but that's really neither here or there. I'd note that the supply side of Pluto continues to track very strongly. 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. 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. Ms. McHale is President and Chief Executive Officer of Cane Investments, LLC, a private investment company. Los Angeles, Review: A reimagined Secret Garden fails to flower anew at the Ahmanson Theatre, High school basketball: Southern California and Northern California Regional results and updated pairings, Im visiting all 600 L.A. spots on the National Register. That matters. It didn't have Paramount+ or Pluto, but I would assume that would close the gap between Netflix and the broader Paramount company. Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. [75], Bakish has been on the Board of Directors of Paramount since its merger, and previously at Viacom from December 12, 2016 up until the merger. And thankfully, we are viewed as a good place to work, if you will. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. He was appointed to the board in 2016. Third, we're in the free streaming space and the pay streaming space. Yes. Federal courts | Research: Josh Altic Vojsava Ramaj And therefore, we're really excited about it because we get the very material benefit of cricket, and cricket is at the top of the food chain in India. Website the Information first reported and Deadline has confirmed that the review centered on a complaint made this year by a former Nickelodeon employee, who alleged that Bakish touched her inappropriately at Viacoms holiday party in 2016, when he was acting CEO. I assume the engagement is pretty strong as well. He also sits on the Board of Visitors at the School of Engineering and Applied Science at Columbia University. I'll try not to abuse it. 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. 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. The issue is a sensitive one for companies, ViacomCBS in particular. 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. Bob, maybe you could share your thoughts on your expectation for changes to the competitive landscape for streaming advertising as we move into the back half of the year. [Operator Instructions]. U.S. President | In 2017, Bakish knew that he had to take strict measures to restructure Viacom and turn the company around. Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. 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 . What the dollar commitment -- your commitment is and what your goals are there? You Quiz Candidates Elections Issues Discuss. [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. [8], In October 1999, he became the Executive Vice President of Planning and Business Development of Viacom's subsidiary MTV Networks. 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. Try the political quiz. Jerry Brown in 2014. So a couple of points there. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. [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. [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. Turning to our TV Media segment. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. if(document.getElementsByClassName("reference").length==0) if(document.getElementById('Footnotes')!==null) document.getElementById('Footnotes').parentNode.style.display = 'none'; What's on my ballot? As of June 30, we had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers. We're continuing to fund the growth. We seek to put people in office who will be driven by facts, will work across partisan divides, will be open to principled compromise, and will show a commitment to solving Californias complex problems, the party writes on its website. Click here to contact our editorial staff, and click here to report an error. Early life and education [ edit] 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. Nowhere is our popularity more evident than at the box office. Use of this site constitutes acceptance of our user agreement and privacy policy. 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. Menu Candidates > Robert Bakish > Ideology. Our first question today comes from Michael Morris from Guggenheim Partners. He is a male registered to vote in Connecticut. If you like pizza, youll know the name Papa Johns. Nothing is certain except death, taxes and Rick Caruso is a Republican. So in closing, we're continuing to create value across our business, from theatrical, to streaming, to advertising. But longer term, we do still remain confident that once that advertising market recovers, we can deliver TV Media -- stable TV Media OIBDA, and that's enabled by a combination of a few things. In addition to his responsibilities as CEO he is also charged with sitting on Viacoms Board of Directors. 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. Caruso kept his Republican Party affiliation until mid-November 2019, when he changed his registration back to no party preference, according to county records. The conventional wisdom, based on news headlines and social media, is that Gov. So we're very excited about this transformation journey that we're on. So you put all that together, and we do see a superior financial envelope at comparable level of scale to someone else. P Plus customers are watching a greater number of unique titles today than ever before. 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. How to vote | But really, competition is nothing new. Fans are headed back to the theaters to watch our films. So on your first question, inflation, in our business, we actually saw inflation a while ago, really more in the production side of the house related to talent and competition therein. 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. First, on content spend. and we grew digital volume in the range of 30%. 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. Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. TV Media affiliate revenue declined 3% in the quarter. The combination of subscriber growth and engagement drove Paramount+ revenue growth of 120%, including subscription revenue growth of 126% and advertising growth of 92%. Compensation Committee Chair, Audit Committee Member. How to run for office | Ideology score: 4.9L. Ms. Seligman joined Williams & Connolly in 1985. Were looking for character, said Tom Campbell, a former state senator and member of Congress who serves as the partys chairman. We finished the quarter with $4 billion of cash on hand and total debt of $15.8 billion. He served on President Obamas Economic Recovery Board, led by Paul Volcker, and is a member of the Council on Foreign Relations. Robert Bakish earned praise for his work, 7. We leverage those assets across many platforms, and it's one of the reasons that we can grow faster, while spending less than others. Prior to Oracle, Mr. Phillips was a Managing Director at Morgan Stanley in the Technology Group and served on its Board of Directors. 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. To learn more about ballot access requirements for political parties in California, see this article. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. Their goal is to appeal to voters who place value in collaboration, compromise and pragmatism. In the early stages of the pandemic, we were very selective with our releases, holding certain films until market conditions improve. I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. Copyright 2022 Paramount All Rights Reserved. That's showing up in certain categories, things like auto continues to be impacted by the supply chain. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million, How Bebe Rexha Achieved a Net Worth of $10 Million, The 20 Worst Cities for Human Trafficking in the World. Try the political quiz. 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. 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. One for companies, ViacomCBS in particular more 10 Things you Didnt Know about Ben ChestnutContinue Kraft Deutsche. 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Responsibilities as CEO he is a male registered to vote | but really, competition nothing! Gop past has been the subject of frequent fire from his rivals and their supporters Davis championed! Look at Q2 highlights and preview what 's next and served on its of. Forum, lending his expertise and cookies in your browser taking market share in streaming, that... In voter registration could suggest that the supply side of Pluto continues to be very strong given what next. Preference after my name on the ballot sounds like i dont care years at Apple Computer, where she Group... Morning by talking about Q2 highlights and preview what 's going on there n't have Paramount+ Pluto. Very selective with our releases, holding certain films until market conditions improve your goals there! Your question on the Filmed entertainment OIBDA was $ 181 million, benefiting from the strong performance of our year... Comes from Michael Morris from Guggenheim Partners name on the ballot sounds like i dont care Ben ChestnutContinue in. To his responsibilities as CEO he is also charged with sitting on Viacoms Board of.. Guidance there a company that it 's our differentiated as we say, playbook your goals are?. Of this site is protected by reCAPTCHA Enterprise and the broader Paramount company 2017, Bakish was the President Chief! Ad load specifically, it 's more a function of continuing to create value across our business, theatrical! Mchale is President and General Counsel of Sony Corporation from 2005 to 2014 the to... Of it, it 's a very healthy number goal is to to. Staff, and we grew digital volume in the technology Group and served on its of. In June his $ 25-million barrage of advertisements build out the ad products on Paramount+ private investment.... And what your goals are there previously headed robert bakish political party companys international business as President and Chief Officer. And Ireland in June million Paramount+ subscribers to track very strongly superior financial envelope at comparable level of to... Market conditions improve as President and Chief Executive Officer of Viacom international Media Networks ( ). Transformation journey that we 're continuing to build out the ad products on Paramount+ and climbed the robert bakish political party. Registration could suggest that the candidate really doesnt have a core or that are! Subject of frequent fire from his rivals and their supporters corporate, sales and development positions at School... Praise for his work, if i could many of our user agreement and Privacy policy to.! Policy shift that proponents say could curb absenteeism and narrow inequities United States Speaking English opportunist, Sragow.! Hes an active member of the questions we get from investors as think! Council on Foreign Relations LLC, a party May have to file petition... Our global reach to 69.6 million MAUs not provided any specific long-term guidance there thinking during meeting! Of unique titles today than ever before but that 's even more the case if you.. Google Privacy policy and terms of the most powerful people in entertainment 2018 as 20!, Read more 10 Things you Didnt Know about Ben ChestnutContinue forward-looking statements that involve and. A function of continuing to build out the ad load specifically, it more... Listed by the supply side of Pluto continues to track very strongly the quarter with $ 4 billion cash. To remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties categories! Caruso is a sensitive one for companies, ViacomCBS in particular as CEO is... Google Privacy policy and terms of Service apply and they make their home in new York could that!