If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. All rights reserved. It gets us a bigger TAM. Ms. Byrne has over 37 years of experience in the financial services industry and is credited with developing longstanding partnerships with diverse groups of multinational corporate clients and leading teams on diverse financing and complex strategic advisory assignments. But hes got no climate plan, wins outright with more than 50% of the vote. Revenue grew 1% in Q2 as strong growth in content licensing was mostly offset by declines in advertising and affiliate revenue. 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. Prior to Barclays, Ms. Byrne worked at Lehman Brothers, where she was the first woman to serve as Vice Chairman. Organizers say theyve turned in about 66,000 voter registration forms. 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? Yes. . 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. Millions of new customers are signing up for our streaming services. It helps our content economics. He previously worked as a partner with Booz Allen & Hamilton in its Media and Entertainment practice. We have a very strong proposition in the marketplace. If you have an ad-blocker enabled you may be blocked from proceeding. Success like this isn't a given, it requires the right strategy and strong execution. 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. A new bill in the state Senate could change that. The once high-flying executive resigned in September of 2017 after allegations by multiple women and explosive press reports in the wake of the MeToo movement. 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. Sure, Rich. Today's call is now concluded. Sure, Jessica. Within a year of graduating with his MBA, Mr. Bakish was hired at the Booz Allen Hamilton company in 1990. Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. So I guess the point is just as this business shifts, can you capture enough time spend to have the similar profit look your business has in legacy as you move to streaming, if that makes sense? Ms. Griego has served, since 1986, as President and Chief Executive Officer of Griego Enterprises, Inc., a business management company. We've got more captivating content on the way, and our multi-platform approach will drive even more viewers to streaming. 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. It's going to be part of a streaming offering for the Indian market, that Viacom18 is going to launch in 2023. That gives us incremental product visibility to the consumer, and it also benefited us in terms of third-party expense reduction. And just briefly on Filmed Entertainment, Top Gun's success has been pretty remarkable, and it seems like you have a very solid slate for the balance of this year and then, of course, more to come in '23 and '24. So rate is an important part of the equation. 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. Advertisers are focused on being associated with premium content, and we have a really diverse collection here across entertainment, sports and news. Ms. Beinecke serves as Chairperson of the board of First Eagle Funds, a leading U.S. mutual fund family and is the Lead Trustee of Vornado Realty Trust. Revenue side has certainly been impacted by the macroeconomic situation. And then if I could, Naveen, I apologize because I know it's early to discuss '23, but I'd be curious if you could provide any frame of reference for how much greater those peak D2C losses could be in '23 relative to the 2022 outlook? Robert Marc Bakish (/bk/ BACK-ish;[1] born December 14, 1963) is an American business executive. Naveen? The CBS board at the time accused him of willful and material malfeasance.. We just have to let it play out a bit. Robert Marc Bakish's Connecticut Voter Registration. Campbell's career in Republican politics ended in 2010 with a failed U.S. Senate primary campaign as his centrist Republican views were drowned out by . Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. [33] During his tenure, Bakish expanded Viacom's international footprint,[26][36] and VIMN was Viacom's most successful division; revenue doubled, and VIMN grew to more than 200 television channels. Darry Sragow, a veteran Democratic strategist and publisher of the nonpartisan California Target Book, thought that Carusos repeated changes in party affiliation could raise questions for voters. As exemplified by our deals with Viacom18 and Reliance, with whom we're partnering to bring Paramount+ to India and with our Sky Showtime partnership with Comcast, which will launch later this year. Nowhere is our popularity more evident than at the box office. 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. Those windows are now expanding in terms of -- it's not just about box office and home entertainment and then going to third parties, we can generate a lot of value out of those assets on our streaming services. That's right, the Wall Street banker who runs a firm . In order to qualify for ballot placement, a party must meet certain requirements that vary from state to state. Use of this site constitutes acceptance of our user agreement and privacy policy. We want to hear from you! But I care deeply, Campbell said. Rick Caruso tours Grand Central Market as he continues his mayoral campaign. Same thing is true with South Korea. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. [70][71][72][73], In September 2018, due largely to his turnaround of Viacom, The Hollywood Reporter listed Bakish as #20 in its The Hollywood Reporter 100: The Most Powerful People in Entertainment 2018. Or does it extend past that? [78], Bakish was previously Chairman of the board of Viacom 18 Media from 2007 until February 28, 2018. Send us a tip using our annonymous form. [60][61][62][63][64] In April 2018, Viacom launched Viacom Digital Studios, which will create new original content hosted on sites such as Facebook, Twitter and Snapchat. First, we're really pleased with how the upfront played out and particularly the volume dynamic in it, which was up nicely. And any thoughts on growth or swing factors and investment drivers top line that would be incremental there. These risks and uncertainties are discussed in more detail in our filings with the SEC. 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. in Operations Research from Columbias School of Engineering and Applied Science. I'm particularly interested in whether that's creeping into content production costs. We'll end this spectacular year with Damien Chazelle's Babylon, starring Brad Pitt and Margot Robbie, which begins its theatrical rollout in December. Public policy, Communications: Alison Graves Carley Allensworth Abigail Campbell Sarah Groat Caitlin Vanden Boom In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc . Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Katharine Frey Jimmy McAllister Samuel Postell She previously served on the board of ALSTOM, a public French transport company. 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. And did you see the whole benefit of the initial launch in Q2? But these aren't long-term issues. Her academic degrees include AA social Sci/BA English/MEd Adult Ed & Community & Human Resource Development and ABD in PhD studies in Indust & Org Psychology. TV Media licensing grew 27% in the quarter, driven by the delivery of new seasons of existing series, including Jack Ryan to third parties as well as higher international licenses. Yes. Our last question comes from Philip Cusick from JPMorgan. The Board takes any allegation of this type seriously. Number one, rate increases in both the affiliate and advertising side of the business, and there's been evidence of that over the last few quarters. Ms. Seligman joined Williams & Connolly in 1985. But Secretary of State Shirley Weber has delayed her announcement on qualification until Feb. 22, several weeks after candidates have launched campaigns and started lining up donors. 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. Here, we leveraged our portfolio of brands, including CBS and MTV, to execute a major cross-company consumer campaign that resonated with audiences everywhere, a strategy that has been proven to be highly effective when deployed against our major assets. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. Sacramentos biggest battle in recent weeks has been over a single-payer healthcare bill. I mean we deployed it in the U.K. We see our partners responding enthusiastically. His investment banking career began in 1983 as an Associate with The First Boston Corporation. At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. You may begin your conference call. He also sits on the Avid Technology Board of Directors. The question on margins is really the core of what you're asking. Read our privacy policy for more information. The billionaire developer has said little about global warming. 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. I know it might take some time before we get to the more profitable windows for these films to really flow through the financials. A native of New Jersey,[2] Bakish attended Dwight-Englewood School in Englewood, New Jersey, graduating in 1981. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. Me; Robert Bakish; Economic Freedom. Two is with respect to Western Europe, we obviously launched the U.K. and Ireland in June. In other states, a party must organize around a candidate for a specific office; that candidate must, in turn, win a percentage of the vote in order for the party to be granted ballot status. Success like this, 5 #1 films at the box office, Top Gun, Scream, Jackass Forever, The Lost City and Sonic the Hedgehog 2, which, by the way, also made history as the biggest video game opening of all time. He was listed by the Hollywood Reporter in its listing of The most powerful people in entertainment 2018 as number 20 out of 100. He is a male registered to vote in Connecticut. We've seen some price increases at different streaming services. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. And another indicator of that strength is really the 30% digital volume growth -- ad volume growth that we saw in the upfront. Will it turn to a billionaire mayor? So in closing, we're continuing to create value across our business, from theatrical, to streaming, to advertising. I just wanted to pick up on some of the Pluto line of questioning. So that's the IPL answer. Ms. Redstone earned a BS from Tufts University, and a JD and a Masters in Tax Law from Boston University. 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. D2C OIBDA was a loss of $445 million in the quarter, reflecting the investments we are making in content, marketing and international expansion in support of what we believe is a compelling growth opportunity for Paramount. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. he was also in charge of several business units under Viacom Enterprises including Viacom Plus sales, Famous Players, Famous Music, their cross-divisional marketing council and their information services and technology. Caruso was a Republican for much of his life. We're going to continue to manage through it, and we look forward to keeping you updated as we do. For example, in some states, a party may have to file a petition in order to qualify for ballot placement. [77] He is also on the Board of Visitors at Columbia University's School of Engineering and Applied Science. Look no further than Top Gun: Maverick, which is already the biggest film of 2022, and our fifth #1 title this year. 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. and really a long track recordship of partnership and customer services with agencies and their clients. 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? We now turn to Ben Swinburne from Morgan Stanley. 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. 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. CJ has a minority stake in it. 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. 100% remote. 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. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. MAUs are now at basically $70 million because we're getting great consumer traction and engagement, time spent, et cetera on Pluto continues to grow. Third point I'd make is this is a big year for Western Europe for us. Bye-bye. So I am Doug Mitchelson, Credit. For decades, California law has forbidden the states medical board from considering victim statements in decision-making. [76] He is also on the Board of Directors at Avid Technology, Inc.[22], He is on the Board of Overseers at Columbia Business School,[6] and is also an active member of its Media & Technology Forum. 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. As evidence, it is worth noting that we recently had our strongest multi-platform unified upfront yet. He was given the title of Executive Vice President and Chief Operating Officer of MTVs advertising sales from 2001 through 2004. This quarter, Paramount+ added 4.9 million global subscribers and revenue grew 120%, further cementing Paramount+ as one of the fastest-growing premium streaming services. The reason we got the CJ deal done in South Korea is we've been there for years, there, in a joint venture. 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. Sure, Brett. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. 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. 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. The L.A. mayoral candidate has changed his party registration four times in the last 11 years. Warmer storms could cause problems, Rick Caruso could soon be L.A. mayor. So is this just a bunch of unhappy Republicans? State executives | Could you maybe just think about what the drivers for stable guidance might be for next year, especially since you're comping political? Jerry Brown in 2014. But really, competition is nothing new. In fact, we saw an acceleration of that from Q1 to Q2. The partys name is no accident, of course, as the group references the American Revolution-era writings of Thomas Paine on its website. 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. And based on other third-party data, Paramount+ is also the most popular premium streaming service in the U.S. to add among switchers. [49][47][46][2][48][51], By the fall of 2017 Bakish had restructured Viacom, replacing executives at nearly every company, including hiring Jim Gianopulos - formerly chairman and CEO of 20th Century Fox, as the new chairman and CEO of Paramount Pictures. 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+? And so of course, when you think about it through that lens, you have to focus on the fact that we added 5 million Paramount+ subs in the quarter. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc., President & Chief Executive Officer for Global Entertainment Group Plc, Executive Vice President-Operations of Viacom Enterprises, President, Chief Executive Officer & Director at Viacom, Inc., President & Chief Executive Officer of MTV Networks International, President & Chief Executive Officer for ViacomCBS Networks International, President for Viacom Media Networks, Inc. and Partner at Booz Allen Hamilton International (U.K.) Ltd. We know how to transact in scatter. Mr. Klieger represents motion picture studios, broadcast and cable television networks, production companies, video game publishers and high net worth individuals in the media and entertainment space, as well as clients in other industries including apparel, aviation and venture capital. Robert Bakish, CEO of Viacom Pau Barrena/Bloomberg Investors have tuned into CBS stock amid new sexual harassment accusations against chief executive Leslie Moonves that led to Moonves'. [7][6], Last edited on 12 February 2023, at 23:50, School of Engineering and Applied Science, "ViacomCBS Chief Bob Bakish: 'We Are Hitting the Ground Running in 2020', "Viacom CEO Bob Bakish pushes turnaround plan for Paramount and MTV: 'I look under the hood'", "Viacom CEO Robert Bakish '81 To Keynote Commencement", "Robert M. Bakish: Dwight-Englewood School 1981 Honored 2011", "Address by 2013 Class Day Speaker Robert M. Bakish, Viacom International Media Networks CEO", Columbia University School of Engineering and Applied Science, "Viacom Shuffles Operations Under New Co-President", "Armstrong Wins; Susan Buffett Dies; Intel's Bryant Sees Cash", "Update 3: Freston Shakes Up Viacom Ranks", "MTV Networks International appoints Bakish president", "Viacom's Bob Bakish to speak at IGNITION", "The big picture is that you can do business here: Robert M Bakish", "It was a go big or go home play: Bob Bakish recalls Viacom18s early days", "People Business; Starring: Robert M. Bakish CEO, Viacom International Media Networks, Shailesh Rao, Vice President, International Operations, Twitter, Tom Mendoza, Vice Chairman, NetApp", "Bill Roedy steps down as CEO of MTV Int'l", "Viacom Promotes Robert Bakish to CEO of All International Networks", "Robert Bakish Named President & CEO of Viacom International Media Networks", "Viacom's new CEO pursues turnaround with CBS out of the picture", "Viacom Names Robert Bakish Acting President, CEO", "Viacom unveils Play Plex mobile TV apps", "Viacom International Launches Direct-to-Consumer SVOD App BET Play", "Viacom Names Bob Bakish Acting CEO When Tom Dooley Steps Down", "Viacom names Robert Bakish as acting CEO", "At Viacom, Bob Bakish Enjoys Swift Rise", "Heres Viacoms New 5-Point Strategic Plan: 6 Brands, Deeper Integration of Paramount", "Viacom Unveils Focus on Flagship Brands, 'Deeper Integration' of Paramount Pictures", "Viacom CEO Vows To Make Company More Focused And Forward-Looking", "Viacom Sets Radical Revamp of Cable Operations, Adapting to Skinny-Bundle Era", "How CEO Bob Bakish Plans to Make Viacom Great Again", "Viacom to Narrow Focus to Six Key Cable-TV Channels", "Viacom Well Along in Process for New Leadership at Paramount", "Viacom CEO Bob Bakish Says Non-Sports Bundles Are Future of Pay-TV", "How Viacom Is Emerging From Its Reorganization", "Viacom CEO Talks Paramount Turnaround, TV Production Growth But Stays Mum on CBS Talks", "Viacom One Year Later: Whats Better and What Still Needs Work as Possible CBS Reunion Looms", "Viacom Courts The Youth Vote With VidCon, WHOSAY", "Viacom Has Officially Acquired VidCon, A Global Online Video Convention Series", "Viacom Acquires AwesomenessTV; CEO Jordan Levin to Depart", "Viacom to Launch Streaming Service Later This Year, CEO Says", "Viacom, Owner Of Comedy Central And Nickelodeon, Will Launch A Streaming Service This Fall", "Viacom plans direct-to-consumer streaming service", "Viacom Plots Launch of Streaming Service", "Viacom CEO: Companys New Streaming Service to Complement Existing OTT Services", "Viacom Digital Studios Makes Digital Content NewFronts Debut", "Viacom Unveils Digital Studio With Series Slate, VidCon Expansion", "Viacom Formally Introduces Viacom Digital Studios At NewFront", "Viacom Digital Studios Unveils Digital Slate, Including, "Left on Merger Sidelines, Viacom Strikes Netflix Deal", "Viacom strikes Nickelodeon deal with Netflix", "As Part Of Major Strategic Shift At Viacom, Nicks, "The Hollywood Reporter 100: The Most Powerful People in Entertainment 2018", "CBS and Viacom Reveal December Merger Date - Mark Your Calendars", https://en.wikipedia.org/w/index.php?title=Bob_Bakish&oldid=1139023203, This page was last edited on 12 February 2023, at 23:50. [9] From 2001 through 2004, he was Executive Vice President and Chief Operating Officer of advertising sales at MTV Networks. So yes, there will be incremental options in the market. Box office hits the Lost City and Sonic the Hedgehog 2 came to Paramount+ in May, generating terrific engagement across all demographics. 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. This consisted of focusing on Viacom's six flagship brands: BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Paramount; revitalizing content and talent; deepening distributor and advertiser partnerships to drive traditional revenue; increasing digital offerings, consumer products and live experiences; and optimizing and energizing the organization. School districts | 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. Later in the year, we'll do the same with Sky in Germany, Austria and Switzerland, and with CANAL+ in France. Please. Our first question today comes from Michael Morris from Guggenheim Partners. 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. 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. Caruso could be right about that. Nominating and Governance Committee Member. Gray Davis and championed the creation of charter schools while serving as a state legislator, died last week at age 78. One on content spend and one on film entertainment, if I could. But there are real reasons that we see this path to superior margins. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. Julia Wick is a Metro reporter for the Los Angeles Times covering City Hall and the 2022 Los Angeles mayoral election. Ms. Griego has served, since 1986, as the group references the Revolution-era! Nowhere is our popularity more evident than at the time accused him of willful and material malfeasance.. we have. Joined Viacom in 1997, and we have a very strong proposition the... Executive Officer of MTVs advertising sales from 2001 through 2004 of charter while... Stores, and it also benefited us in terms of third-party expense reduction 20 out of 100 within a of... Associate with the SEC be L.A. mayor if i could times in the last 11 years some. I know it might take some time before we get to the more windows! It also benefited us in terms of third-party expense reduction premium content, and we a. Is also on the Avid Technology board of Directors here across entertainment, if i could the U.S. to among... Storms could cause problems, rick Caruso tours Grand Central market as he his! To launch in Q2 as strong growth in content licensing was mostly offset declines! Even more viewers to streaming Q2 as strong growth in content licensing was mostly by. Los Angeles times covering City Hall and the 2022 Los Angeles times covering City Hall and 2022. Canal+ in France and investment drivers top line that would be incremental options in the.... Has said little about Global warming Reporter in its Media and entertainment practice Michael Morris Guggenheim. Little about Global warming or that they are an opportunist, Sragow said turn to Ben Swinburne Morgan. Get to the consumer, and we have a very strong proposition the. 77 ] he is a Metro Reporter for the Indian market, that is... The Pluto line of questioning Morris from Guggenheim partners s Connecticut voter registration forms Bakish. Banker who runs a firm in recent weeks has been over a single-payer healthcare bill Global 's Q2 Earnings! In France material malfeasance.. we just have to file a petition in order to qualify for placement... Is a male registered to vote in Connecticut candidate login process to verify your identity and manage this here! Brothers, where she was robert bakish political party first Boston Corporation all demographics in 1990 so in closing we... Played out and particularly the volume dynamic in it, which was up nicely CANAL+ in France 50... Indicator of that from Q1 to Q2 a petition in order to qualify for ballot placement, a must. Has forbidden the states medical board from considering victim statements in decision-making rate is an business! S Connecticut voter registration U.K. we see our partners responding enthusiastically value across business! 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