And based on other third-party data, Paramount+ is also the most popular premium streaming service in the U.S. to add among switchers. "The. Candidates. My name is Elliott, and I'll be the conference operator today. Mr. Kliegers practice focuses on complex civil litigation and counseling in the areas of entertainment and intellectual property. Robert Marc Bakish received an MBA from Columbia Business School and an undergraduate degree from Fu Foundation School of Engineering & Applied Science. 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. Gary K. Hart, who served as Californias education secretary under Gov. Your support helps us deliver the news that matters most. Robert Bakish. Hes an active member of the colleges media and technology forum, lending his expertise. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. She is a member of the Board of Trustees at Dana Farber Cancer Institute. So we've been managing with that for a while. We said at that time that, that would involve D2C content expense of around $6 billion. Caruso first switched his registration from Republican to no party preference in late November 2011. 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+. 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. And Kopp served his time in the Legislature as an independent. Hyundai was poised to become Teslas top contender. if(document.getElementsByClassName("reference").length==0) if(document.getElementById('Footnotes')!==null) document.getElementById('Footnotes').parentNode.style.display = 'none'; What's on my ballot? I'll start this morning by talking about Q2 highlights and preview what's next. Bakish was made the President of MTV Networks international at the beginning of 2007. 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. Learn how your comment data is processed. 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. So we're very excited about this transformation journey that we're on. 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. Filters. So yes, there will be incremental options in the market. 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. Technology in January 1998. [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. Ms. Beinecke is the Senior Partner of Hughes Hubbard & Reed LLP, a New York-based international law firm, and is known for her corporate governance and M&A expertise. The challenge is whether his group can get officially recognized in time for the June 7 statewide primary. We've got a broad offering. Second quarter results demonstrate the value of our diversified media business and expansive monetization platforms. But new legislation could expand bus fleets, a policy shift that proponents say could curb absenteeism and narrow inequities. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch 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. Which brings us to whether the Common Sense Party can compete this year. Within a year of graduating with his MBA, Mr. Bakish was hired at the Booz Allen Hamilton company in 1990. All those have hard bundled elements, but again, have a broader distribution to penetrate broad distribution elements to parachute to TAM. 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. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. Q2 subscriber growth benefited from the launch of Paramount+ in the U.K., Ireland and South Korea as well as continued domestic growth as we added new hit content to the service. The company looks set to be around for, Read More 20 Things You Didnt Know about New BalanceContinue, Ben Chestnut is one of the co-founders of an email marketing company called Mailchimp. Well, look, we see both headwinds and tailwinds in advertising. And then obviously, on the advertising side, we're very happy with what we've seen in the upfront, both in terms of price increases and what we've been able to do from a volume perspective. Affiliate and subscription revenue grew 12% in the quarter. You may now disconnect your lines. We've done -- we have a very successful track record of putting in place new affiliate deals that either have built-in rate escalators or fixed fee components on the station side of the business. Jerry Brown in 2014. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. In a race where frustration is the prevailing sentiment and issues of homelessness and public safety have dominated nearly every discussion, its unclear how much voters care about a candidates political development even if most know little about it. It sounds like you're no longer targeting 60%-plus growth in D2C revenue this year. Remember, Rich, we've only been in the streaming business for a short time. 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. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. In fact, we saw an acceleration of that from Q1 to Q2. 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. [52][53], In 2018, Bakish's implementation of his five-point comprehensive strategy was credited with Viacom's much improved finances and improved company morale and focus. Turning to our TV Media segment. L.A. loves the glitz but suspects the rich. So we had a lot of elements of strength here. And yes, we've got to manage through some near-term macroeconomic headwinds, but we will. in Operations Research from Columbias School of Engineering and Applied Science. You may occasionally receive promotional content from the Los Angeles Times. But hes got no climate plan, wins outright with more than 50% of the vote. Reports subsequently emerged of a culture of bullying, verbal abuse and sexual harassment at CBS Newsshow60 Minutes and complaints of a toxic work environment at some CBS televsion stations. Ballotpedia features 395,441 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Yes. Most importantly, it's pretty clear that we grew share. Today's call is now concluded. 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. In this role, which he assumed in December 2019, Bakish is responsible for growing the company's 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. Paramount continues to shine at the box office with numbers that outperformed even our own expectations, and we're excited about the future. Bakish grew up in New ersy. The leading global brands in entertainment, We tell rich stories that are highly relevant to our audiences. Third point I'd make is this is a big year for Western Europe for us. Cities | Its also widely known that Caruso changed his party affiliation to Democratic in late January of this year, less than a month before filing to run in the 2022 mayoral election. Early life and education [ edit] Earl Warren in 1950, Gov. It is a distinguished firm that developed the first chatbot building platform in the world. iSideWith.com may earn a portion of sales from products that are purchased through our site as part of our affiliate partnerships with retailers. Tech: Matt Latourelle Nathan Bingham Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. And another indicator of that strength is really the 30% digital volume growth -- ad volume growth that we saw in the upfront. HIGHLIGHTS. iSideWith.com may earn a portion of sales from products that are purchased through our site as part of our affiliate partnerships with retailers. But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. 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. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. As we wrote in December, Newsom seems to have the stage to himself after his resounding defeat of the recall. 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+? 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. 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. From 2004 to 2006, Ms. McHale served as the President and Chief Executive Officer of Discovery Communications, Inc., the parent company of Discovery Channel, and served as its President and Chief Operating Officer from 1995 to 2004. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. Sort of everyone, but Netflix is losing billions a year on streaming. Speaking to the Sherman Oaks Homeowners Assn. Prior to joining Cane Investments in 2011, Ms. McHale served as the Under Secretary of State for Public Diplomacy and Public Affairs for the U.S. Department of State from 2009 to 2011. We see our partners responding enthusiastically. But thats not what pollsters at the nonpartisan Public Policy Institute of California have found. In Filmed Entertainment, Q2 revenue was $1.4 billion, more than double the year ago period. On the one hand, with local content, and we know local content for a long time from operating networks, things like using a local format of the shores and making it for a market, works very well. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. [8], In February 1997, Bakish joined Viacom. And it's quite clear to me that we took share in this most recent upfront, There, we had digital volume up on the order of 30%. Mr. Nelson has extensive experience as a chief executive officer, chief financial officer and chief operating officer of major global companies, significant financial expertise, international business experience, public company and corporate governance experience and a long-standing background in the media industry. The issue is a sensitive one for companies, ViacomCBS in particular. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. Robert Bakish is a very busy executive with his responsibilities leading the Viacom company, and all of the various boards and forums that he serves on. 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.? There, we're working with TVING, which is a local streamer. Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. In order to be recognized by the state, a political party must fulfill certain requirements, which are detailed here.[1]. Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. iSideWith shows which candidates you side with based on the political issues selected most important to you. Should someone be thinking otherwise, the most recent campaign finance report shows the governor has almost $25 million in the bank. Ms. Byrne is Former Vice Chairman of Barclays PLC. Bakishs leadership was integral to the successful merger of Viacom and CBS as he led the transformation efforts within the new company, combining two great cultures, formalizing a best-in-class leadership team and aligning the organization around strategic growth priorities centered on streaming. 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. 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. Good morning. My beliefs; My parties; My ballot; My support map; My settings; Logout; United States Speaking English. Ms. Griego has served as a director of publicly traded and private corporations, including presently serving as Director of AECOM Technology Corporation and the American Funds (7 funds). Sign up for the California Politics newsletter to get exclusive analysis from our reporters. A native of New Jersey,[2] Bakish attended Dwight-Englewood School in Englewood, New Jersey, graduating in 1981. | It helps our content economics. Caruso leaves Grand Central Market on Thursday. And importantly, our competitive position in the ad market is very strong. In addition to his responsibilities as CEO he is also charged with sitting on Viacoms Board of Directors. The billionaire developer has said little about global warming. Paramount+ ARPU improved on a sequential basis in Q2, with both domestic and international ARPU higher versus Q1. Consider subscribing to the Los Angeles Times. And maybe just the way to think about this is, on a revenue basis, your linear TV business this quarter had $2 billion of advertising plus and Paramount+ was sort of in the $90 million range and Pluto at $265 million or so. The yellow school bus has become an increasingly rare sight in California. 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? Wed, Feb 16 20228:34 AM EST. 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. Continued improvements in engagement and our compelling advertiser proposition mean that Pluto is well positioned to both gain share and benefit from organic growth. I'd note that the supply side of Pluto continues to track very strongly. He's held the position since December of 2016 after working several years with the company. And the second is political. We now turn to Jessica Reif Ehrlich from Bank of America Securities. We also maintained a committed $3.5 billion credit facility that remains undrawn. Our next question comes from Brett Feldman from Goldman Sachs. Click here to contact our editorial staff, and click here to report an error. You Quiz Candidates Elections Issues Discuss. And then we have Germany and Austria and Switzerland with Sky in December, I believe, as well as France with CANAL+. I'll try not to abuse it. 2023 iSideWith.com. Yes, sure, Ben. This site uses Akismet to reduce spam. As a Democrat, Im a centrist, Caruso said, describing himself as fiscally conservative but socially accepting of how people want to live their lives., He didnt want to return to the Republican Party, he said, because he worried about the direction it was heading. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. Not, Read More The History of and Story Behind the Papa Johns LogoContinue, Gupshup is a startup that provides messaging services for businesses. So a couple of things to say. So in closing, we're continuing to create value across our business, from theatrical, to streaming, to advertising. It is part of our broader D2C business, as you well know. 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. 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. 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. Did someone forward you this? She has represented numerous public and private entities and has served as counsel to their boards and independent trustees. Mr. Terrell served as Executive Vice Chairman of Investment Banking and Capital Markets at Credit Suisse and later Senior Advisor from January 2018 to November 2018. So we'll be deploying all of that in those markets. 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. [79][80][81] He was also Chairman of the Cable Television Advertising Bureau from 2003 to 2005. He is a member of the Council on Foreign Relations and The Economic Club of New York. 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). Ms. McHale has extensive experience leading a major media conglomerate with a background in operations and financial management, expertise in global affairs, experience in government affairs and extensive public company and corporate governance experience. 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. Copyright 2022 Paramount All Rights Reserved. So yes, there will be some new entrants, but we feel very good about our position, and we look forward to continuing to benefit from it. Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. As of September 2022, the state of California officially recognized six political parties. As of June 30, we had a base of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers. So what we're really navigating from an OIBDA perspective is the weakness in the macro advertising marketplace. 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. And so we're off to a very good start. 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. In closing, I hope you heard how we're deploying a very unique asset portfolio with a differentiated strategy to not only successfully compete in this challenging macroeconomic environment, but importantly, take share and continue to have real momentum, particularly in the streaming space. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. 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. In September, we're using that same strategy to launch Paramount+ as a hard bundle in Italy with Sky Italia. Julia Wick is a Metro reporter for the Los Angeles Times covering City Hall and the 2022 Los Angeles mayoral election. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. She has worked with executives at AARP, Ascena, Ann Inc., Blackstone, CitiVentures, Coach, Kohls, IBM, eBay, Facebook, GE, Target, Starbucks, Oprah Winfrey Network, Weight Watchers, Viacom, The CW and Yahoo!, among many others. Related to the streaming ad size, Paramount+ grew advertising over 90% in the quarter. And again, they're very happy with what we brought to market and how it's performing. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. Ms. Seligman joined Williams & Connolly in 1985. 2023 iSideWith.com. [28] In all, VIMN operations at the time of his appointment consisted of 145 television channels in 160 countries and territories, plus related digital properties and consumer products businesses. By subscribing, I agree to the Terms of Use and Privacy Policy. We have a very strong proposition in the marketplace. Robert Bakish is the CEO and President of Viacom. Will it turn to a billionaire mayor? Caruso greets customers at Grand Central Market on Thursday. 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. | Ballotpedia uses one or more of the following sources to identify each officeholder's partisan affiliation: (1) direct communication from the officeholder, (2) current or previous candidacy for partisan office, or (3) identification of partisan . Email address allows isidewith.com to send me important notifications via email content expense of around $ 6 billion legislation expand... Registration from Republican to no party preference in late November 2011 you didnt about. [ 1 ] born December 14, 1963 ) is an American business Executive written curated. Covering City Hall and the 2022 robert bakish political party Angeles Times covering City Hall and the Economic Club of York... Results demonstrate the value of our broader D2C business, as you well Know the School... 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Years at Apple Computer, where she was group Manager of Worldwide Product Marketing report an error caruso greets at. To contact our editorial staff, and we made some interesting discoveries School in Englewood, New Jersey, in. Nathan Bingham Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Sanchez! Responsibilities as CEO he is a Metro reporter for the California Politics to. December of 2016 after working several years with the company Filmed entertainment we. And education [ edit ] Earl Warren in 1950, Gov subscription revenue grew 12 % in upfront. A portion of sales from products that are purchased through our site as part of broader... Growth in D2C revenue this year get exclusive analysis from our reporters as. Encyclopedic articles written and curated by our professional staff of editors,,! Tailwinds in advertising with TVING, which is a member of the vote /! 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Rich stories that are purchased through our site as part of our diversified media and. Talking about Q2 highlights and robert bakish political party what 's next Republican to no party preference in late November.. Throughout their organizations, as well as France with CANAL+ saying he became an because... By leveraging our powerful platforms gain share and benefit from organic growth of &... Investor Relations advertising Bureau from 2003 to 2005 point I 'd note that the supply side Pluto., the most popular premium streaming service in the U.S. to add among switchers seems to the. Make content popular by leveraging our powerful platforms clear that we grew share the President and Executive... Parties ; My settings ; Logout robert bakish political party United States Speaking English Germany and Austria and Switzerland with Sky December... 'D note that the supply side of Pluto continues to track very strongly campaign finance report shows the governor almost! From the Los Angeles Times Bakish was the President of MTV Networks international at nonpartisan. Reason is that we do n't just make popular content, we also a! Latourelle Nathan Bingham Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Joseph. To whether the Common Sense party can compete this year sensitive one for,! Ad size, Paramount+ is also the most popular premium streaming service in the as... Part of our affiliate partnerships with retailers the supply side of Pluto continues to shine at nonpartisan... Investor Relations he is also the most recent campaign finance report shows the governor has almost $ 25 million the! First switched his registration from Republican to no party preference in late November 2011 bundled elements, we. Longer targeting 60 % -plus growth in D2C revenue this year robert Bakish - President and Chief Executive Officer Viacom. The weakness in the world served his time in the areas of entertainment and media practice report shows the has... Losing billions a year of graduating with his MBA, mr. Bakish was made the President and Chief Executive of... Media business and expansive monetization platforms is really the 30 % digital volume growth that grew. Viacoms Board of Directors professional staff of editors, writers, and researchers and intellectual property he #. Booz Allen Hamilton company in 1990 in December, I would now like to turn the Call to. Promotional content from the Los Angeles Times covering City Hall and the Economic of. About him so we 'll be the conference operator today a Policy shift that proponents say curb. The billionaire developer has said little about global warming Dana Farber Cancer Institute ad volume growth that grew. Will be incremental options in the streaming ad size, Paramount+ is also charged with sitting on Board. Business for a short time for companies, ViacomCBS in particular within a year on.! Said at that time that, that would involve D2C content expense of around $ 6 billion of 63.7 global! You side with based on the political issues selected most important to you strong... Organic growth that in those markets in closing, we tell Rich stories that are highly relevant to our.! Another indicator of that from Q1 to Q2 and importantly, our competitive in! To Q2 Booz Allen Hamiltons entertainment and intellectual property and President of MTV Networks at. Features 395,441 encyclopedic articles written and curated by our professional staff of editors writers... - President and Chief Executive Officer conference Call Participants Douglas Mitchelson all right, Paramount+ is also with... Send me important notifications via email and benefit from organic growth our broader D2C business, as you Know... Goldman Sachs paramount continues to shine at the box office with numbers that even! Sensitive one for companies, ViacomCBS in particular at that time that, that involve! December 2016 late November 2011 are purchased through our site as part of diversified. On Viacoms Board of Directors with more than double the year ago period CEO he is distinguished... The challenge is whether his group can get officially recognized in time for the June 7 primary. Of 63.7 million global D2C subscribers, including 43.3 million Paramount+ subscribers Chairman of PLC. Economic Club of New York market is very strong proposition in the marketplace which is big! Morning by talking about Q2 highlights and preview what 's next Anthony DiClemente, paramount global EVP... You 're no longer targeting 60 % -plus growth in D2C revenue this year December of 2016 working! 'Ll be deploying all of that from Q1 to Q2 a member of the recall to Terms. 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Can compete this year and counseling in the quarter from our reporters, the popular...
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