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Signup for Breaking News Alerts & Newsletters. [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. [25][36] He oversaw the expansion of networks such as Nickelodeon, Comedy Central and Spike to an increasing number of foreign markets,[25][36] and helped orchestrate the acquisition of Channel 5 in the UK and Telefe in Argentina. Well, look, we see both headwinds and tailwinds in advertising. [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. Revenue grew 10% year-on-year. He started with a thorough housecleaning operation. So yes, local content is one thing. My beliefs; My parties; My ballot; My support map; My settings; Logout; United States Speaking English. 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? We now turn to Steven Cahall from Wells Fargo. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. State legislature | [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. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Turning to the balance sheet. Sure, Bryan. In fact, we saw an acceleration of that from Q1 to Q2. And our 2023 fleet is anchored by fresh commercial takes on some of our most popular and new franchises: from TRANSFORMERS and Teenage Mutant Turtles to Dungeon & Dragons and PAW Patrol, to name just a few. How to run for office | 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. The CBS board at the time accused him of willful and material malfeasance.. We also saw sequential growth in hours per act. We also maintained a committed $3.5 billion credit facility that remains undrawn. And we are -- despite some of the short-term headwinds, we continue to be very bullish about the potential for continued ad ARPU growth on our streaming services. Nominating and Governance Committee Member. [54][55] In 2018, under Bakish's direction and in accordance with his plan to capture younger and digital markets, Viacom acquired digital platform WhoSay,[56][57] internet video conference VidCon,[58][56][57] and online television network AwesomenessTV. [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. That's, of course, driven by meaningful growth in engagement and continued innovation around the ad products that we make available. During his accomplished career in the financial services sector spanning more than 25 years, Mr. Terrell was responsible for Credit Suisses global banking relationships with some of its most high profile clients. But I think the question that sort of every investor on this call is thinking about is as the business shifts from linear to digital, meaning CBS sort of shrinks in share and Paramount+ and Pluto growing their share, can Paramount maintain sort of aggregate time spend? As such, in the second half of the year, we expect TV Media OIBDA to return to modest growth on a year-over-year basis. And just sort of two related questions. Affiliate and subscription revenue grew 12% in the quarter. Ms. Seligman previously served as Executive Vice President and General Counsel of Sony Corporation from 2005 to 2014. 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. Times staff writer Dakota Smith contributed to this report. An independent review of the alleged incident has concluded, and the investigation did not support the allegation, ViacomCBS said in a statement. Some of today's financial remarks will focus on adjusted results. In order to be recognized by the state, a political party must fulfill certain requirements, which are detailed here.[1]. We'll end this spectacular year with Damien Chazelle's Babylon, starring Brad Pitt and Margot Robbie, which begins its theatrical rollout in December. And that's even more the case if you combine linear and streaming, but that's really neither here or there. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. 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. What does that ad load look like in revenue from here? Later in the year, we'll do the same with Sky in Germany, Austria and Switzerland, and with CANAL+ in France. Meanwhile, in markets like India and Eastern Europe, we're focused on balancing long-term market growth with a smart allocation of capital. 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. So our content investment is definitely working. But really, competition is nothing new. 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. So we're very excited about this transformation journey that we're on. Get up to speed with our Essential California newsletter, sent six days a week. And so we benefit at Paramount from having a balance across linear and digital clearly. Robert Bakish. Bob Bakish is President/CEO at Paramount Global. I assume the engagement is pretty strong as well. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. [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. 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. So let me show you how, starting with film. 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 . Hard bundle deals like these allow us to quickly unlock a healthy volume of subscribers at 0 acquisition cost and with very low churn. The L.A. mayoral candidate has changed his party registration four times in the last 11 years. We continue to maintain significant financial flexibility, which will increase with the addition of proceeds from the sale of Simon & Schuster &. 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. Nothing is certain except death, taxes and Rick Caruso is a Republican. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. Good morning, everyone, and thank you for joining us. 2023 iSideWith.com. Should the Common Sense Party be successful and recruit candidates who win, it could make a little history. Yet again, evidence, we are taking market share. HIGHLIGHTS. When I was a Republican, I was a centrist. In fact, Top Gun: Maverick just cleared $1.34 billion at the global box office and became 1 of the top 10 domestic movies of all time. 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. 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. A Common Sense Party for California. Robert Bakish has 1 Voter Record There is 1 voter registration record for Robert Bakish. In closing, we are enthusiastic about the long-term opportunity for Paramount, unlocked by powerful content and a massive and growing market for streaming. We think it's an incredible opportunity. We have always executed with financial discipline, and we continue to be laser-focused on it. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. With the help of partners, Sky and CJ Entertainment, we just launched Paramount+ in the U.K., Ireland and South Korea. Learn how your comment data is processed. Not, Read More The History of and Story Behind the Papa Johns LogoContinue, Gupshup is a startup that provides messaging services for businesses. 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. Campbells group went the route of registering voters and state election law requires a number equal to 0.33% of the total number of registered voters. School districts | Caruso leaves Grand Central Market on Thursday. . 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. 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. So a couple of things to say. Menu Candidates > Robert Bakish . It definitely extends past that. Ms. Schuman is Vice Chair of kyu collective and an Advisory Council member for MIT Media Lab, and sits on the boards of IDEO, IDEO.org and Wheels Up. Caruso spokesperson Peter Ragone said Caruso did not vote for Trump in 2016 but declined to say whether he voted for another candidate in the November 2016 presidential race. Tech: Matt Latourelle Nathan Bingham Ryan Burch Kirsten Corrao Beth Dellea Travis Eden Tate Kamish Margaret Kearney Eric Lotto Joseph Sanchez. These risks and uncertainties are discussed in more detail in our filings with the SEC. The yellow school bus has become an increasingly rare sight in California. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. 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. Their intent, and I don't really leave it to the joint venture, which, by the way, our other partners, Reliance, to speak to that, and they haven't spoke to it much. Bakish is responsible for turning the Viacom company around and improving its financial situation. So rate is an important part of the equation. 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. So that's the IPL answer. Campbells group rightly points out that parties are allowed to raise large sums of money to win elections, while independent no party preference candidates are limited to the relatively small donation limits for individual contributors. And in a world where people are more and more focused on the financial envelope, particularly around streaming the benefits of our multi-platform strategy, powerful content engine and IP ownership will become clearer and clearer. [77] He is also on the Board of Visitors at Columbia University's School of Engineering and Applied Science. If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. As evidence, it is worth noting that we recently had our strongest multi-platform unified upfront yet. Send us a tip using our annonymous form. So we had a lot of elements of strength here. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. My ballot; My support map; My settings; Logout; United States Speaking English. Mr. Nelson served as a consultant to Avis Budget Group, Inc. until May 2019. Robert Marc Bakish (born 1963) is listed at 17 Old Neversink Road Danbury, Ct 06811 and is affiliated with the Republican Party. He worked there out of college and climbed the management ladder, achieving great success. He's held the position since December of 2016 after working several years with the company. Kasich dropped out of the race in May 2016, and Caruso did not vote in that years primary, according to county records. [3][4][5], He received a Bachelor of Science in operations research in 1985 from Columbia University's School of Engineering and Applied Science. We now turn to Jessica Reif Ehrlich from Bank of America Securities. We need to give this a bit of time to play out. Bakish was made the President of MTV Networks international at the beginning of 2007. What the dollar commitment -- your commitment is and what your goals are there? She is currently a member of the International Womens Forum and a lifetime member of the Council on Foreign Relations. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. 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. [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. [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. At the center, of course, is our hugely popular content, big, broad and beloved. The issue is a sensitive one for companies, ViacomCBS in particular. Read our privacy policy for more information. [25][26][2][27] MTVNI had double-digit, year-on-year growth during his tenure. In terms of your question on the Filmed Entertainment business, obviously, we have not provided any specific long-term guidance there. Prior to SYPartners, Ms. Schuman was the General Manager of Studio Archetype, one of the first premier web design firms in the U.S. She also ran her own marketing and product strategy consulting firm. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. (Sam Hodgson/The San Diego Union-Tribune), Do Not Sell or Share My Personal Information, a Green Party member who won a special Assembly election in 1999, that the final price tag was $200.2 million, could curb absenteeism and narrow inequities, A new bill in the state Senate could change that, collect information from parents about guns stored at home, is accelerating an effort to move incarcerated people off death row, who served as Californias education secretary, Man arrested in connection to 7 bombings in Fresno has links to hate group, authorities say, Vote on LAPD transit patrols sparks City Hall debate over safety on Metro system, UCLA, UCSF hospital nurses voice complaints about overcrowding, staffing shortages, Couple sues Pasadena fertility clinic after baby is born with stomach-cancer gene. navigating some near-term headwinds in the macroeconomic environment, Q2 shows we have the assets, strategy and ability to compete and win over the long term. Enjoying this newsletter? 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. He also sits on the Board of Visitors at the School of Engineering and Applied Science at Columbia University. With that, operator, can you please open the line for questions? We couldn't be prouder. 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. [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. I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. Over the past two decades, Ms. Griego has served on a number of government commissions and boards of directors of nonprofit organizations, including current service on the Boards of the David and Lucile Packard Foundation, the MLK Health and Wellness, CDC, and the Community Development Technologies Center. 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.? 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. The success of our streaming platforms speaks to the power of our content strategy. But even with that, some very compelling facts to focus on. 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. Will it turn to a billionaire mayor? We finished the quarter with $4 billion of cash on hand and total debt of $15.8 billion. Domestic affiliate revenue was flat in Q2, excluding a 50 basis point headwind from a year-over-year decrease in pay-per-view revenue. Starting with direct-to-consumer. 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. His opinion is highly valued in the entertainment business industry and beyond. Advertising was down 2% year-over-year or flat on a constant currency basis due to macroeconomic headwinds, and licensing revenue grew 27%. 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+. All told, the real estate developer has changed his party registration four times in the last 11 years, shifting twice between Republican and no party preference before re-registering as a Democrat about four months ago. Jerry Brown in 2014. We really have you see a dual benefit there. From 1994 to 2003, Mr. Nelson served as Co-Chief Operating Officer of DreamWorks SKG. Menu Candidates > Robert Bakish > Policies > Healthcare > Stay-At . Mr. Phillips is Chairman of Infor, Inc., a multi-billion dollar enterprise software company, and served as its Chief Executive Officer from 2010 to 2019. 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. 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. With less than a week until the Los Angeles mayoral primary, Rick Caruso's political evolution from Republican to Democrat still remains opaque to many voters in the . 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