And so we're off to a very good start. 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. Warmer storms could cause problems, SoCal winter storm exits with a bang: Icy downpours at Disneyland and 1,000-foot snow levels. So yes, local content is one thing. [25][26][2][27] MTVNI had double-digit, year-on-year growth during his tenure. Our content consistently attracts and entertains mass audiences. [59] In early 2018, Bakish also announced the launch of an official Viacom streaming service, which will support ads and will include series and content from Viacom that hasn't been available on other streaming services. Technology in January 1998. From 1994 to 2003, Mr. Nelson served as Co-Chief Operating Officer of DreamWorks SKG. But the second element of it, a lot of that we're going to use globally because on a termed basis, the streaming world has proven that works. I'll try not to abuse it. Its widely known that Caruso, who was a Republican for much of his life, switched his party registration to decline to state in 2011 while mulling over a run in the citys 2013 mayoral election. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. Now because our assets continue to perform impressively across TV and streaming, advertisers are taking note even amid broader market uncertainty. Robert Marc Bakish's Connecticut Voter Registration. Paramount+ added 4.9 million global subs, while our other streaming services grew modestly. That would normally be about 72,600 voters, but the law also requires excluding unaffiliated voters in the calculation. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. 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. Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. For more than 20 years, Ms. Griego oversaw the operations of Engine Co. No. He also has a wife and kids. Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. [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. You Quiz Candidates Elections Issues Discuss. [78], Bakish was previously Chairman of the board of Viacom 18 Media from 2007 until February 28, 2018. Some of today's financial remarks will focus on adjusted results. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. To your question of is this Q2 only boost to subs? In September, another season of the NFL and SEC college football also returns to CBS and Paramount+ in the U.S. And then just to go back to the content spend, could you at least talk about like step function in increasing content spend '23 versus '22 and '24 as well? He led the strategic planning as well as the companys business development. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? Yes, sure, Ben. Caruso has typically dismissed criticism and most questions about his registration history. I think you covered the -- I think you got it. Cities | Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contains supplemental information and in each case, can be found in the Investor Relations section of our website. The issue is a sensitive one for companies, ViacomCBS in particular. 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. Or is some of that going to lead into Q3? And if that's the case, I was just wondering if you could talk about some of the pricing changes that you saw late in Q2 and how those have trended as you've gotten into Q3, any improvement or degradation? Yes. And at this scale, we offer advertisers access to a wide variety of audiences across every demographic. So local is very much part of our strategy in the mix. In addition to his responsibilities as CEO he is also charged with sitting on Viacoms Board of Directors. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. 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. Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. Our next question is from Kutgun Maral from RBC Capital Markets. 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. And Kopp served his time in the Legislature as an independent. 2023 Deadline Hollywood, LLC. From June 2010 to December 2017 he was Vice Chairman of Investment Banking and Capital Markets at Credit Suisse. Prior to Barclays, Ms. Byrne worked at Lehman Brothers, where she was the first woman to serve as Vice Chairman. 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. I mean we deployed it in the U.K. 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. It's really a marketplace dynamic that unfortunately, we're not immune to. Hard bundle deals like these allow us to quickly unlock a healthy volume of subscribers at 0 acquisition cost and with very low churn. Copyright 2022 Paramount All Rights Reserved. And I note that we are seeing some areas of category strength, including in Q2 and today, travel, technology. But our amazing content isn't limited to the silver screen. 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. In response to the question "Should the U.S. government grant immunity to Edward Snowden?", Robert Bakish's response was. 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. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc . In fact, we've seen healthy double-digit growth in ad ARPU on the Essentials tier of Paramount+, despite some of the macro headwinds. So let me show you how, starting with film. Our last question comes from Philip Cusick from JPMorgan. It didn't have Paramount+ or Pluto, but I would assume that would close the gap between Netflix and the broader Paramount company. But nonetheless, we have experience, we have assets, we have relationships, and those provide real leverage, including in streaming. [Operator Instructions]. The leading global brands in entertainment, We tell rich stories that are highly relevant to our audiences. So we're continuing to look at pricing. 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. We're continuing to fund the growth. So the combination of all those things will be key to delivering stable TV Media OIBDA. So I am Doug Mitchelson, Credit. 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. Today's call is now concluded. And at the core of it, it's our differentiated as we say, playbook. 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. Ms. McHale is President and Chief Executive Officer of Cane Investments, LLC, a private investment company. But hes got no climate plan, wins outright with more than 50% of the vote. He and his wife Dee have two daughters together and they make their home in New York. We now turn to Jessica Reif Ehrlich from Bank of America Securities. In order to be recognized by the state, a political party must fulfill certain requirements, which are detailed here.[1]. Prior to Oracle, Mr. Phillips was a Managing Director at Morgan Stanley in the Technology Group and served on its Board of Directors. We've got more captivating content on the way, and our multi-platform approach will drive even more viewers to streaming. I'd also point out that our content has been created and formatted with advertising in mind, and that's important. But what they have said is it's -- we obviously have the streaming rights there. But if you look at Q2, Paramount's combined U.S. linear delivery was bigger than Netflix. And we continue to see very healthy levels of growth there, 56% D2C revenue growth in the quarter. For the second consecutive year, Robert Bakish, Viacom's CEO was not invited, an unusual move that pits one of Corporate America's most prominent media executives whose power may grow in the. At the center, of course, is our hugely popular content, big, broad and beloved. One on content spend and one on film entertainment, if I could. She joined Sony in 2001 and served in a variety of other capacities during her tenure, including as a Corporate Executive Officer and Group Deputy General Counsel of Sony Corporation, and as General Counsel and an Executive Vice President at Sony Corporation of America, a subsidiary of Sony Corporation. We added 5.2 million global D2C subscribers in Q2. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. State legislature | Bakish grew up in New ersy. and really a long track recordship of partnership and customer services with agencies and their clients. He was given the title of Executive Vice President and Chief Operating Officer of MTVs advertising sales from 2001 through 2004. He was considering a run for mayor at the time. I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. Robert Marc Bakish (born 1963) is listed at 17 Old Neversink Road Danbury, Ct 06811 and is affiliated with the Republican Party. Become a subscriber. And as you pointed out, our content dollars are used differently than many of our peers. And we got tremendous engagement, i.e., time spent off the library. We haven't provided any kind of specific cadence of exactly what that looks like from year to year, but we're continuing to invest and manage the business with those goals. Recall that our international distribution strategy is focused on achieving ubiquity. But in a competitive market, scale isn't enough. We're going to continue to manage through it, and we look forward to keeping you updated as we do. With less than a week until the Los Angeles mayoral primary, Rick Carusos political evolution from Republican to Democrat still remains opaque to many voters in the overwhelmingly liberal city he hopes to lead. When I was a Republican, I was a centrist. And either way, it's a very healthy number. We think it's an incredible opportunity. She also enjoys creative writing, content writing on nearly any topic (particularly business and lifestyle), because as a lifelong learner, she loves to do research and possess a high skill level in this area. We know how to transact in scatter. I believe you guys have some local productions, 4 language productions in the works? Robert Bakish. Millions of new customers are signing up for our streaming services. 2023 iSideWith.com. And we have many partnerships with important people in front of and behind the screen working with us to make shows. Caruso first switched his registration from Republican to no party preference in late November 2011. Second quarter results demonstrate the value of our diversified media business and expansive monetization platforms. Yes. Prior to that, he served as Executive Chairman of the board of Avis Budget Group from 2016 to 2018 and as its Chairman and Chief Executive Officer from 2006 to 2015, and also served as Chief Operating Officer from 2010 to 2015. And speaking of the recall: On Thursday, state officials reported that the final price tag was $200.2 million. Because I think if you think about everyone in streaming today, like you're talking about $1.8 billion of losses for the calendar year. 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. [25][37][2] Under his leadership, the Paramount Channel was launched, offering movies and television shows in Europe, Latin America and Russia. 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