TV Media advertising declined 6% in the quarter as pricing growth only partially offset the impact of lower linear impressions and a 2% headwind from FX. So we're continuing to move forward. Perhaps the most radical idea, at least by todays politics, is the Common Sense Partys pledge to back a candidate of another party if they have no candidate in the race and the person demonstrates, as the partys website says, an independence that is responsible, open and inclusive.. He serves on the boards of both schools and is also a Director on the Board of AVID Technologies, a NASDAQ-listed company. 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. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. And through partnerships with Viaplay Group and Corus, we are now expanding Pluto TV's international footprint in the Nordics and Canada, respectively. 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. If you have an ad-blocker enabled you may be blocked from proceeding. Yes. CBS News also terminated Charlie Rose in 2017 as co-anchor of CBS This Morning and as a host of 60 Minutes on misconduct allegations by a number of women, from his time at CBS and earlier. All Rights Reserved. The combination of subscriber growth and engagement drove Paramount+ revenue growth of 120%, including subscription revenue growth of 126% and advertising growth of 92%. We'll end this spectacular year with Damien Chazelle's Babylon, starring Brad Pitt and Margot Robbie, which begins its theatrical rollout in December. Ballot measures, Who represents me? That means people who dropped the service in the last 12 months we're more likely to add Paramount+ than any other service. Robert Bakish is the CEO and President of Viacom. And so it will be a real engine for streaming, and then Paramount+ will benefit by being part of that, even though we're not directly investing on an O&O basis, we're obviously part of the joint venture. 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. Robert Marc Bakish received an MBA from Columbia Business School and an undergraduate degree from Fu Foundation School of Engineering & Applied Science. For decades, California law has forbidden the states medical board from considering victim statements in decision-making. Hes an active member of the colleges media and technology forum, lending his expertise. 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. Robert Bakish is the CEO and President of Viacom. 2023 iSideWith.com. But I would encourage you to think about that business more broadly, which is to say, increasingly, the value of our movies is not just about what they generated in the box office. His opinion is highly valued in the entertainment business industry and beyond. 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. In the early stages of the pandemic, we were very selective with our releases, holding certain films until market conditions improve. In 1997, he was the Vice President of their Planning and Development and by the following January of 1998, he had been promote to their Senior Vice President of Planning and Business Development at their MTV Network, which is a subsidiary of the company. 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. 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). The existing parties have detailed platforms calling for specific policies that are generally to the established left or right on the political spectrum. Wed, Feb 16 20228:34 AM EST. So is this just a bunch of unhappy Republicans? in Operations Research from Columbias School of Engineering and Applied Science. So a couple of things to say. 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. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. . Caruso first switched his registration from Republican to no party preference in late November 2011. Ms. Seligman served as law clerk to Justice Thurgood Marshall on the Supreme Court of the United States from 1984 to 1985 and as law clerk to Judge Harry T. Edwards at the U.S. Court of Appeals for the District of Columbia Circuit from 1983 to 1984. My ballot; My support map; My settings; Logout; United States Speaking English. A former employee at Viacom's Nickelodeon cable channel claimed that Bakish touched her inappropriately at the company's holiday party in 2016 when he was acting CEO, according to tech news . I just wanted to pick up on some of the Pluto line of questioning. We had broadcast and cable pricing increase at the same high single-digit rate. Yes, I'll take those. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. He also wrote a weekly newsletter on California politics and provided regular news analysis. She is a native Angeleno. And by the way, the response to the launch more broadly has been very strong, including what we showed in London related to the launch event. 28, a prominent restaurant in downtown Los Angeles that she founded in 1988. He led the strategic planning as well as the companys business development. I just had a couple of questions on one topic, which is sort of the international opportunity with Paramount+. Sign up here to get California Politics in your inbox.Until next time, send your comments, suggestions and news tips to politics@latimes.com. He has donated more frequently to Democratic politicians in recent years, including contributions to the congressional campaign of his now-opponent Bass in 2010 and 2011. [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. 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. But Caruso offered more candor about his evolving political thinking during a meeting with an influential homeowners group in March. But thats not what pollsters at the nonpartisan Public Policy Institute of California have found. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. Ms. Schuman spent seven years at Apple Computer, where she was Group Manager of Worldwide Product Marketing. Paramount Global (NASDAQ:PARA) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET, Robert Bakish - President, CEO & Directorr, Jessica Reif Ehrlich - Bank of America Merrill Lynch. Gary K. Hart, who served as Californias education secretary under Gov. So to your question of it being a price taker, sure, we play in the programmatic market. She is currently a member of the International Womens Forum and a lifetime member of the Council on Foreign Relations. Compensation Committee Chair, Audit Committee Member. It is a distinguished firm that developed the first chatbot building platform in the world. He started with a thorough housecleaning operation. Should the Common Sense Party be successful and recruit candidates who win, it could make a little history. A new bill in the state Senate could change that. In some states, a candidate may choose to have a label other than that of an officially recognized party appear alongside his or her name on the ballot. And I'd point out that all that's not just conceptual, it translates into performance. 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. 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. It's a powerful and efficient local model. Our first question today comes from Michael Morris from Guggenheim Partners. And another indicator of that strength is really the 30% digital volume growth -- ad volume growth that we saw in the upfront. The last point, your local content, all those markets do have local content dimensions. Ms. Byrne is Former Vice Chairman of Barclays PLC. CJ has a minority stake in it. Prior to that, he was Executive Vice President, Chief Financial Officer and a Director at Paramount Communications, Inc., formerly Gulf + Western Industries, Inc. Mr. Nelson has served on the board of Hanesbrands Inc. since 2008 and its Non-Executive Chairman since 2019, and on the board of Wyndham Hotels & Resorts, Inc. since 2019. 100% remote. So it's -- for us, it's really about continuing to build the asset value, and we do that by having a great slate that will continue to be heavy on franchises. Ms. Griego has served, since 1986, as President and Chief Executive Officer of Griego Enterprises, Inc., a business management company. In order to qualify for ballot placement, a party must meet certain requirements that vary from state to state. Could you maybe just think about what the drivers for stable guidance might be for next year, especially since you're comping political? Hes also had international business experience, 6. Most importantly, it's pretty clear that we grew share. Caruso served as Kasichs California co-chair and was outspoken about his dislike for then-candidate Donald Trump. She is Non-Executive Chair of Paramount's Board of Directors, having previously served as Vice Chair of the Boards of Viacom Inc. and CBS Corporation prior to the combination of the companies in 2019. [44][36][45], In early 2017, Bakish laid out a five-point plan to turn Viacom around and return the company to steady profitability. 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. 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 . Ms. Seligman has extensive media industry experience with various leadership roles at a major media conglomerate, public company and corporate governance experience, and exceptional achievements in the legal profession. 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? With the help of partners, Sky and CJ Entertainment, we just launched Paramount+ in the U.K., Ireland and South Korea. She is a member of the Board of Trustees at Dana Farber Cancer Institute. Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. Republicans have been pretty consistent in their disapproval while Newsoms large margin of support among Democrats has risen. 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. But there are real reasons that we see this path to superior margins. 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. At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global's EVP, Investor Relations. 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