Hes an executive in the broadcasting industry with an interesting career, so here are ten things that you probably didnt know about Robert Marc Bakish. 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. Nothing is certain except death, taxes and Rick Caruso is a Republican. And Q2 shows how we leverage investments across multiple platforms, that unlock multiple revenue streams. Caruso has typically dismissed criticism and most questions about his registration history. So the combination of all those things will be key to delivering stable TV Media OIBDA. Me; Robert Bakish; Economic Freedom. Or is some of that going to lead into Q3? 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. iSideWith is not affiliated with any political party, candidate, or interest group. And then we have Germany and Austria and Switzerland with Sky in December, I believe, as well as France with CANAL+. The success of our streaming platforms speaks to the power of our content strategy. Continuing as we have to make those decisions prudently with a real eye towards the ROI of the investments, what we don't want to do is sacrifice a long-term opportunity by overreacting to some of the short-term headwinds that obviously exist, particularly in the advertising marketplace today. We delivered 19% total company revenue growth through continued strong D2C momentum and record performance at the box off. We've launched advertising very recently within that service. She practiced corporate law, estate planning and criminal law in the Boston area before joining National Amusements. But also with targeting, we see IQ and Pluto playing there and therefore benefiting as well. In Filmed Entertainment, Q2 revenue was $1.4 billion, more than double the year ago period. Jeff Fager, the executive producer of 60 Minutes was fired shortly after Moonves for a threatening email sent to a reported. Such labels are called. She previously served on the board of ALSTOM, a public French transport company. Voters seeking to better understand his zigzagging political transformation will find few answers in his $25-million barrage of advertisements. 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. Robert Bakish - $10,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions Could you maybe just think about what the drivers for stable guidance might be for next year, especially since you're comping political? 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. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. We had broadcast and cable pricing increase at the same high single-digit rate. And again, they're very happy with what we brought to market and how it's performing. In 2006, Ms. McHale worked with private equity firm Global Environment Fund to launch the GEF/Africa Growth Fund, an investment vehicle focused on supplying expansion capital to small and medium-sized enterprises that provide consumer goods and services in emerging African markets. I'm particularly interested in whether that's creeping into content production costs. 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. So what does that do? And so with some of the slowdown in revenue, is the right way to think about this business that it is just a price taker in the programmatic market, and that price pressure can kind of arrive unannounced? Julia Wick is a Metro reporter for the Los Angeles Times covering City Hall and the 2022 Los Angeles mayoral election. It helps our marketing economics, and it shouldn't be discounted. In order to be recognized by the state, a political party must fulfill certain requirements, which are detailed here.[1]. The conventional wisdom, based on news headlines and social media, is that Gov. 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). Based on third-party data, Paramount+ is the #1 premium service in the U.S. in sign-ups and net subscriber additions, both this quarter and year-to-date. To learn more about ballot access requirements for political parties in California, see this article. You may occasionally receive promotional content from the Los Angeles Times. Advertisers are focused on being associated with premium content, and we have a really diverse collection here across entertainment, sports and news. Ballot measures, Who represents me? And I think we'll probably finish the year with very healthy revenue growth across the segment. That proved to be the right call. Continued improvements in engagement and our compelling advertiser proposition mean that Pluto is well positioned to both gain share and benefit from organic growth. So we're continuing to move forward. So first, in terms of D2C revenue growth for the year, we continue to expect very healthy levels of D2C growth. And how is the composition of ad-supported versus premium Paramount+ subs and gross add trends sort of changed since the release in June? Menu Candidates > Robert Bakish > Ideology. [Operator Instructions]. Send us a tip using our annonymous form. Try the political quiz. Revenue side has certainly been impacted by the macroeconomic situation. That would normally be about 72,600 voters, but the law also requires excluding unaffiliated voters in the calculation. And we do see this tracking to TV Media-like markets, which is at the core of your question. Naveen? Click here to contact us for media inquiries, and please donate here to support our continued expansion. But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. Viewers hungry for incredible storytellers are also turning up in ever greater numbers to our flagship streaming service, Paramount+. And most importantly, deeper engagement resulted in sizable improvement in domestic churn. [16][17][18][19][20] In these two positions, he was responsible for Viacom's strategic planning and business development plus oversight of a range of business units including Famous Music, Famous Players, Viacom Plus sales and information services and technology, as well as heading Viacom's cross-divisional marketing council. 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 speaking of the recall: On Thursday, state officials reported that the final price tag was $200.2 million. Tom Campbell, chair of the Common Sense Party. Later this year, the biggest show on television, Yellowstone, returns for its fifth season to the Paramount Network in the U.S. It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. And so we benefit at Paramount from having a balance across linear and digital clearly. Many, many globally renowned franchises, backed up by a deep library, I mean the economic value of going and trying to replace that library, I don't even know what it would be. But again, we're not just selling Pluto, we're selling a full range of streaming product and multiplatform product and having great traction with advertisers. 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. Paramount+ revenue growth was 120%, and we continue to be very bullish about growth going forward. 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. The company is a management and technology consulting firm. The combination of continued investment and ad market softness means that D2C losses should remain roughly the same in the second half of 2022 as the first half of the year. His opinion is highly valued in the entertainment business industry and beyond. And we're looking forward to what that does both for the box office business and also our other channels. 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. I'll start this morning by talking about Q2 highlights and preview what's next. Read our privacy policy for more information. Additionally, the power and strength of our franchises, Existing and new, was on full display this quarter, thanks to strong performances from Star Trek: Strange New Worlds, 1883 of the Yellowstone Universe and our latest South Park special, South Park: the Streaming Wars as well as Halo, which has become a top driver globally for subscriber acquisition and engagement. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. With an iconic Hollywood film studio that owns more than a century of IP, with the #1 broadcast network in the U.S., with some of the most popular cable brands and content in the world, with the fastest-growing premium streaming service in Paramount+, and with the leading free ad-supported streaming TV service in Pluto TV, it's a powerful combination, which we will continue to lean into for the rest of the year and well into the future. We'll end this spectacular year with Damien Chazelle's Babylon, starring Brad Pitt and Margot Robbie, which begins its theatrical rollout in December. HIGHLIGHTS. 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. The news of the probe of Bakish comes several years after the CBS side of the company was tainted by a highly public sexual misconduct scandal focused on former CBS CEO Les Moonves. Robert Bakish is the CEO and President of Viacom. Records show that he re-registered as a Republican in March 2016. And its those voters whom the leaders of the California Common Sense Party want to reach. Organizers say theyve turned in about 66,000 voter registration forms. Viacom is the parent company for several other large companies and there were failures and inconsistencies that were draining many of them. over Zoom, Caruso did not correct the interviewers mistaken impression that he had remained a no-party-preference voter from 2011 until registering as a Democrat in 2022. But if you look at Q2, Paramount's combined U.S. linear delivery was bigger than Netflix. Our next question comes from Bryan Kraft from Deutsche Bank. 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. Look, we've been big believers in the dual revenue stream model in streaming, i.e., advertising from the start and the fact that others are following our lead is really a validation of the thesis we've had for years. Bakish is responsible for turning the Viacom company around and improving its financial situation. But on the other hand, it sounds like OIBDA losses for DTC this year are shaping up to be closer to $1.8 billion versus expectations for $1.5 million before. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. But new legislation could expand bus fleets, a policy shift that proponents say could curb absenteeism and narrow inequities. 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. Bakish oversees one of the worlds leading producers of media and entertainment content, driven by a global portfolio of powerful consumer brands and flagship streaming platforms, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, and Pluto TV, among others. We see our partners responding enthusiastically. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. We continue to monetize them from a catalog perspective. She is currently a member of the International Womens Forum and a lifetime member of the Council on Foreign Relations. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. My name is Elliott, and I'll be the conference operator today. 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. Wed, Feb 16 20228:34 AM EST. Nominating and Governance Committee Member. Overview Policies Discuss Ratings Themes Ideology. [9] From 2001 through 2004, he was Executive Vice President and Chief Operating Officer of advertising sales at MTV Networks. So we like that strategy. This week, the effort came up short. 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. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. We also maintained a committed $3.5 billion credit facility that remains undrawn. With that, operator, can you please open the line for questions? We've got more captivating content on the way, and our multi-platform approach will drive even more viewers to streaming. [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. Newsoms worst year in office, by this standard, was his first: Only 44% of adults surveyed approved of his work in polls conducted at the beginning and near the end of 2019. Our dual revenue stream model delivered 56% year-over-year D2C revenue growth, with total D2C revenue now reaching $1.2 billion in the quarter. 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. Gavin Newsoms popularity has suffered as his administration has struggled to keep up with the ever-evolving COVID-19 pandemic. And importantly, our competitive position in the ad market is very strong. Premium content with cross-platform scale and efficiency, it's this robust combination that differentiates Paramount in the ad marketplace and makes us a must-have partner for advertisers. We continue to look at how we optimize the tiering along with that, but it's part of a broader overall ARPU story. The Board takes any allegation of this type seriously. 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. Others have been there for years. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs. In closing, we are enthusiastic about the long-term opportunity for Paramount, unlocked by powerful content and a massive and growing market for streaming. Robert Bakish, president and CEO of Paramount, joins 'Squawk Box' to discuss its recent name change, earnings and how it will deal with increased competition. 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. 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. A couple of clarifications and a question, if I can. And is there a better level we should look at? You may begin your conference call. I'll try not to abuse it. [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. The reason we got the CJ deal done in South Korea is we've been there for years, there, in a joint venture. Our audience reach across broadcast, cable, ad-supported SVOD at Paramount+ and free ad-supported streaming TV in Pluto TV represents a connected viewing ecosystem that produces over 1 trillion ad impressions per year in high engagement premium environment that are proven to drive outcomes for clients. [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. So a couple of points there. All Rights Reserved. Millions of new customers are signing up for our streaming services. Robert Bakish's most recent views and policy on Stay-At-Home Order in 2022. . 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. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. He's held the position since December of 2016 after working several years with the company. He is a member of the Council on Foreign Relations and The Economic Club of New York. Yes, sure, Ben. [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. [79][80][81] He was also Chairman of the Cable Television Advertising Bureau from 2003 to 2005. 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. We just have to let it play out a bit. 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. So you put all that together, and we do see a superior financial envelope at comparable level of scale to someone else. So yes, local content is one thing. Starting with direct-to-consumer. Prior to Oracle, Mr. Phillips was a Managing Director at Morgan Stanley in the Technology Group and served on its Board of Directors. 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. At the same time, he guided the company to launch Viacom Play Plex and other innovative mobile streaming offerings that introduced a new generation of young audiences to Viacoms popular brands and IP. That gives us incremental product visibility to the consumer, and it also benefited us in terms of third-party expense reduction. And so for instance, there are certain parts of the product where advertising is not yet enabled and that will continue to evolve over time. 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. [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. 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. My beliefs; My parties; My ballot; . 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. Meanwhile, hit CBS originals like NCIS, which consistently dominate ratings in linear, have drawn significant viewership to Paramount+ and driven engagement there, as have must-see sporting events like the UEFA Champions League Final in May, which air on CBS and Paramount+. Licensing revenue at Filmed Entertainment increased 27%, largely due to the monetization of recent theatrical releases. Sure, Michael. Sure, Brett. That's, of course, driven by meaningful growth in engagement and continued innovation around the ad products that we make available. Please check back soon. We're expecting advertising related to the midterm to be very strong given what's going on there. We're going to continue to manage through it, and we look forward to keeping you updated as we do. Click here to contact our editorial staff, and click here to report an error. How to run for office | 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). Well, look, we see both headwinds and tailwinds in advertising. 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. See Bob Bakish's compensation, career history, education, & memberships. U.S. Congress | Not, Read More The History of and Story Behind the Papa Johns LogoContinue, Gupshup is a startup that provides messaging services for businesses. She was part of the team that was a 2022 Pulitzer Prize finalist in breaking news for work covering a fatal shooting on the set of the film Rust. Previously, she was the author of the Essential California newsletter. Ballotpedia features 395,441 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Enjoying this newsletter? [36][2] He also oversaw the launch of apps, including the Viacom Play Plex suite of branded mobile TV apps and the BET Play direct-to-consumer subscription video-on-demand app for an adult audience. Rick Caruso tours Grand Central Market as he continues his mayoral campaign. Or is some of that going to lead into Q3 the parent company for several large! High single-digit rate level of scale to someone else new legislation could expand bus fleets, a shift... S most recent views and policy on Stay-At-Home Order in 2022. billion credit facility that remains undrawn executive producer 60! Around the ad market is very strong given what 's going on there and also our other.., which is at the same high single-digit rate Hall and the 2022 Los Angeles Times covering City and. 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