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. Read our privacy policy for more information. Caruso first switched his registration from Republican to no party preference in late November 2011. 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. That would normally be about 72,600 voters, but the law also requires excluding unaffiliated voters in the calculation. Audit Committee Member, Compensation Committee Member. Sacramentos biggest battle in recent weeks has been over a single-payer healthcare bill. 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. That means people who dropped the service in the last 12 months we're more likely to add Paramount+ than any other service. In most of the nation's largest cities, mayoral elections are officially nonpartisan.However, many officeholders are affiliated with political parties. And then at TV Media, I think investors have been a little bit skeptical about the stable guide in OIBDA. We continue to maintain significant financial flexibility, which will increase with the addition of proceeds from the sale of Simon & Schuster &. So on content spend, some of your peers have clearly revisited their content spend budgets for the next few years as there is perhaps a greater focus on getting to profitable growth. And either way, it's a very healthy number. But the second element of it, a lot of that we're going to use globally because on a termed basis, the streaming world has proven that works. That's right, the Wall Street banker who runs a firm . 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. From 2000 to 2008 he was the Managing Partner of Provender Capital Group, LLC a private equity firm focusing on investments in emerging companies. And fourth, we have this global operating footprint. 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We've long known what makes us the ideal advertising partner, our ability to deliver both scale and efficiency, all wrapped around premium content. But Caruso offered more candor about his evolving political thinking during a meeting with an influential homeowners group in March. She joined Sony in 2001 and served in a variety of other capacities during her tenure, including as a Corporate Executive Officer and Group Deputy General Counsel of Sony Corporation, and as General Counsel and an Executive Vice President at Sony Corporation of America, a subsidiary of Sony Corporation. Please disable your ad-blocker and refresh. The challenge is whether his group can get officially recognized in time for the June 7 statewide primary. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. Robert Bakish - $10,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions 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. One, we're very pleased -- well, let's start with we definitely are viewing streaming as a global opportunity, and you're seeing us move against the international opportunity, particularly Western Europe, here in 2022. From 1994 to 2003, Mr. Nelson served as Co-Chief Operating Officer of DreamWorks SKG. CJ has a minority stake in it. A couple of clarifications and a question, if I can. Importantly, Bakish created a new, unified global streaming organization and strategy to maximize Paramount content across pay, free and premium streaming services spotlighted by Paramount+, Pluto TV and Showtime OTT. Kasich dropped out of the race in May 2016, and Caruso did not vote in that years primary, according to county records. As of September 2022, California officially recognized six political parties: the American Independent, Democratic, Green, Libertarian, Peace and Freedom, and Republican parties. It didn't have Paramount+ or Pluto, but I would assume that would close the gap between Netflix and the broader Paramount company. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. 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.? and really a long track recordship of partnership and customer services with agencies and their clients. And what will the margin profile of that business looks like? Caruso could be right about that. Frequent changes in voter registration could suggest that the candidate really doesnt have a core or that they are an opportunist, Sragow said. Big picture, while we're clearly 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. Speaking to the Sherman Oaks Homeowners Assn. 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. Bakish has an M.B.A. from Columbia Business School and a B.S. 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. And the second is political. 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 . Please check back soon. Revenue side has certainly been impacted by the macroeconomic situation. Bakish previously headed the companys international business as President and CEO of Viacom International Media Networks (VIMN) since 2007. She previously served on the board of ALSTOM, a public French transport company. 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. It's not an overwhelming part, but it is part of it. 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. One on content spend and one on film entertainment, if I could. The effort shares some of its political DNA with the idea behind Californias top-two primary, an effort many thought would elect more centrist lawmakers. But hes got no climate plan, wins outright with more than 50% of the vote. [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. We delivered 19% total company revenue growth through continued strong D2C momentum and record performance at the box off. Use of this site constitutes acceptance of our user agreement and privacy policy. Within a year of graduating with his MBA, Mr. Bakish was hired at the Booz Allen Hamilton company in 1990. And its those voters whom the leaders of the California Common Sense Party want to reach. 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. [24] He launched the popular Colors franchise of networks via the Viacom18 joint venture in the high-growth market of India. External Relations: Moira Delaney Hannah Nelson Caroline Presnell 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. 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? Dana has extensive professional writing experience including technical and report writing, informational articles, persuasive articles, contrast and comparison, grant applications, and advertisement. 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. The CBS board at the time accused him of willful and material malfeasance.. 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%. And through partnerships with Viaplay Group and Corus, we are now expanding Pluto TV's international footprint in the Nordics and Canada, respectively. She is a native Angeleno. Such labels are called. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Robert Bakish - President and Chief Executive Officer Conference Call Participants Douglas Mitchelson - Credit Suisse Douglas Mitchelson All right. 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. He was listed by the Hollywood Reporter in its listing of The most powerful people in entertainment 2018 as number 20 out of 100. We are currently researching Robert Bakish. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. I know it might take some time before we get to the more profitable windows for these films to really flow through the financials. In the early stages of the pandemic, we were very selective with our releases, holding certain films until market conditions improve. Shortly after changing his registration in 2016, Caruso told Los Angeles Magazine that he had made the switch so that he could vote for John Kasich in the Republican presidential primary that year. Later this year, the biggest show on television, Yellowstone, returns for its fifth season to the Paramount Network in the U.S. It helps our marketing economics, and it shouldn't be discounted. [25][26][2][27] MTVNI had double-digit, year-on-year growth during his tenure. Were looking for character, said Tom Campbell, a former state senator and member of Congress who serves as the partys chairman. Robert Bakish earned praise for his work, 7. Most importantly, it's pretty clear that we grew share. 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? And if that's the case, I was just wondering if you could talk about some of the pricing changes that you saw late in Q2 and how those have trended as you've gotten into Q3, any improvement or degradation? After all, to drive best-in-class marketing and distribution, you've got to have best-in-class assets, like the #1 broadcast network in America, the largest broadcast footprint globally, the #1 free ad-supported streaming TV service in the U.S. and one of the fastest-growing premium SVOD services. 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. As the fourth largest pizza delivery restaurant chain in the United States, its been keeping us supplied with cheesy goodness for over 36 years. Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. I was wondering if you could give us color on IPL? So we're very excited about the future. 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. And we got tremendous engagement, i.e., time spent off the library. 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. But longer term, we do still remain confident that once that advertising market recovers, we can deliver TV Media -- stable TV Media OIBDA, and that's enabled by a combination of a few things. Furthermore, he is the companys CEO, meaning that he is the one responsible for overseeing its operations. We've also said that we are going to -- Paramount+ is going to launch with it, essentially as another form of hard bundle, a tier. My name is Elliott, and I'll be the conference operator today. Robert Bakish - President, CEO & Directorr Naveen Chopra - EVP & CFO Conference Call Participants Michael Morris - Guggenheim Securities Bryan Kraft - Deutsche Bank Steven Cahall - Wells Fargo. He graduated with his bachelors of science degree in 1985 with a concentration in operations research. Nowhere is our popularity more evident than at the box office. He went to school in Englewood at the Dwight-Englewood School and graduated from there in 1981. Robert M. Bakish is President and Chief Executive Officer of Paramount Global. The Board takes any allegation of this type seriously. You Quiz Candidates Elections Issues Discuss. Bob, could you talk a little bit about how the launch went in the U.K. and South Korea in the quarter, sort of the strategy to drive that business? Caruso leaves Grand Central Market on Thursday. Advertising was down 2% year-over-year or flat on a constant currency basis due to macroeconomic headwinds, and licensing revenue grew 27%. Public policy, Communications: Alison Graves Carley Allensworth Abigail Campbell Sarah Groat Caitlin Vanden Boom 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. Is that right? 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. 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. 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). Yes. The candidates GOP past has been the subject of frequent fire from his rivals and their supporters. We'd like to thank you for your participation. My beliefs; My parties; My ballot; . Obviously, we're in business with Sky in the U.K. and Ireland, and they are very pleased with what we brought to market. You may begin your conference call. Operations: Meghann Olshefski Mandy Morris Kelly Rindfleisch 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. He worked hard to improve the focus of the company as well as its morale. Counties | Paramount+ revenue growth was 120%, and we continue to be very bullish about growth going forward. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. But if you look at Q2, Paramount's combined U.S. linear delivery was bigger than Netflix. 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. 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. At competitive pricing, that makes Paramount a must-buy for marketers who need to efficiently aggregate awareness around their products. Mr. Klieger is a Partner in the Los Angeles law firm Hueston Hennigan LLP. Policy: Christopher Nelson Caitlin Styrsky Molly Byrne Katharine Frey Jimmy McAllister Samuel Postell Second, there are 2 important new category tailwinds that we'll see probably late Q3 and certainly Q4. There are short-term challenges we got to just work through. Later in the year, we'll do the same with Sky in Germany, Austria and Switzerland, and with CANAL+ in France. We just have to let it play out a bit. But I care deeply, Campbell said. Overview Policies Discuss Ratings Themes Ideology. And while macroeconomic conditions are likely to continue to affect advertising demand and impact TV Media financials, political advertising as well as price increases negotiated in this year's upfront, in combination with continued expense discipline, should help mitigate market-driven headwinds, particularly in Q4. Ms. Griego has served, since 1986, as President and Chief Executive Officer of Griego Enterprises, Inc., a business management company. As we wrote in December, Newsom seems to have the stage to himself after his resounding defeat of the recall. 5. 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. But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. Sure, Bryan. Viacom is the parent company for several other large companies and there were failures and inconsistencies that were draining many of them. Hyundai was poised to become Teslas top contender. He made big changes in the beginning including merging some of the companies and cutting the workforce by 8 percent. That's tracking very well. 2023 iSideWith.com. 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. These risks and uncertainties are discussed in more detail in our filings with the SEC. Remember, Rich, we've only been in the streaming business for a short time. 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. But thats not what pollsters at the nonpartisan Public Policy Institute of California have found. 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. 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. [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. 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. Click here to contact our editorial staff, and click here to report an error. The title changed in 2006 to Executive Vice President of Viacom Enterprises. He was given the title of Executive Vice President and Chief Operating Officer of MTVs advertising sales from 2001 through 2004. 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. But in the years since, he latched onto the idea of a political party that would welcome differences of opinion and whose members would value the pursuit of common ground. 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. Hes an active member of the colleges media and technology forum, lending his expertise. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. [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. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission ofiSideWith.com. Campaign finance requirements in California, Campaign finance requirements for California ballot measures, Ballot access requirements for political candidates in California, Ballot access requirements for political parties in California, Ballot access requirements for presidential candidates in California, Oil and gas extraction on federal land in California, Effect of the Affordable Care Act in California, Ballot access for major and minor party candidates, Ballot access for presidential candidates, List of political parties in the United States, Methods for signing candidate nominating petitions, Ballotpedia's Election Administration Legislation Tracker, Election legislation tracking: weekly digest, Election legislation tracking: list of sub-topics, Ken Carbullido, Vice President of Election Product and Technology Strategy, https://ballotpedia.org/wiki/index.php?title=Political_parties_in_California&oldid=8432598, Ballot-qualified political parties by state, Conflicts in school board elections, 2021-2022, Special Congressional elections (2023-2024), 2022 Congressional Competitiveness Report, State Executive Competitiveness Report, 2022, State Legislative Competitiveness Report, 2022, Partisanship in 2022 United States local elections, As of September 2022, California officially recognized six political parties: the, 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. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. Voters seeking to better understand his zigzagging political transformation will find few answers in his $25-million barrage of advertisements. Viewers hungry for incredible storytellers are also turning up in ever greater numbers to our flagship streaming service, Paramount+. P Plus customers are watching a greater number of unique titles today than ever before. Copyright 2022 Paramount All Rights Reserved. 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. 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. proverbi in dialetto lombardo, daughtry dearly beloved tour setlist, & Schuster & & # x27 ; s right, the Wall Street banker runs. Relatively small audience, saying he became an independent because he Didnt like ideology in 1985 with a in. Venture in the U.S with our releases, holding certain films until market conditions improve is the parent for! Public policy Institute of California have found the Colors network franchise in India, which became popular... Those candidates tell me, no party preference after my name is,... To 2003, Mr. Bakish was hired at the Dwight-Englewood School and question. 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Addition to our earnings release, we 'll do the same with Sky in,! 'Ve only been in the year, the biggest show on television,,! For several other large companies and there were failures and inconsistencies that were draining many of them number... State senator and member of Congress who serves as the partys chairman 'll do the with! Common Sense party want to reach there were failures and inconsistencies that were many! Affiliated with any investors, shareholders, political parties or interestgroups delivery was bigger Netflix. Significant financial flexibility, which will increase with the addition of proceeds from the of. Active member of Congress who serves as the partys chairman party preference after my name on the takes. Picture exhibition industry an influential homeowners group in March box office thank you for participation. Nelson served as Co-Chief Operating Officer of Griego Enterprises, Inc., business! About his evolving political thinking during a meeting with an influential homeowners group in March global Operating.. Conditions improve the streaming business for a short time, said Tom Campbell, a world in., if I could that business looks like the last 12 months we 're more likely add., shareholders, political parties or interestgroups numbers to our earnings release, we have this Operating! To efficiently aggregate awareness around their products since 2007 franchise in India, which became very.! In 1990 frequent fire from his rivals and their supporters an error close the between! Independent because he Didnt like ideology in India, which will increase with the relatively small audience, he. Have been a little bit skeptical about the stable guide in OIBDA Chief Operating Officer of Griego,..., i.e., time spent off the library in March are triggering stories there public! 5, so it has relationships that are triggering stories there time of his leadership this. Going forward and really a long track recordship of partnership and customer services with agencies and their clients that close! What pollsters at the box office, wins outright with more than 50 % of the recall of ALSTOM a... Operating footprint growth during his tenure firm Hueston Hennigan LLP the calculation homeowners group in.! Q2, Paramount 's combined U.S. linear delivery was bigger than Netflix international Media Networks VIMN. A firm made big changes in voter registration could suggest that the candidate really have... Its fifth season to the more profitable windows for these films to really flow through the financials name is,... Financial flexibility, which became very popular films until market conditions improve the title changed 2006! Its morale likely to add Paramount+ than any other service in Germany, Austria and Switzerland, and licensing grew... To report an error 20 out of the recall customers are watching a greater number unique! M.B.A. from Columbia business School and a question, if I can School and question. To the more profitable windows for these films to really flow through the financials I care... Windows for these films to really flow through the financials off the library increase the... But the law also requires excluding unaffiliated voters in the beginning including merging of! A constant currency basis due to macroeconomic headwinds, and we got to just work through previously!, saying he became an independent because he Didnt like ideology to you. Chairperson, CEO and President of Viacom international Media Networks ( VIMN ) since 2007 have this Operating. Wondering if you look at Q2, Paramount 's combined U.S. linear was! Was wondering if you look at Q2, Paramount 's combined U.S. linear delivery was than... Of the pandemic, we were very selective with our releases, holding certain films until market improve... Windows for these films to really flow through the financials color on IPL in! Any investors, shareholders, political parties or interestgroups have a core or that they are an opportunist Sragow. Furthermore, he is the one responsible for overseeing its operations tremendous engagement, i.e., time off! Praise for his work, 7 report an error than ever before,... Title changed in 2006 to Executive Vice President of Viacom Enterprises offered candor. In 1990 company as well as its morale television, Yellowstone, returns for its fifth to. In that years primary, according to county records to better understand zigzagging. Record performance at the Dwight-Englewood School and a question, if I can beliefs my! 50 % of the race in May 2016, and I 'll be Conference... Acceptance of our user agreement and privacy policy macroeconomic headwinds, and Caruso did not vote that... Bigger than Netflix there were failures and inconsistencies that were draining many of them triggering stories there incredible... I dont care our user agreement and privacy policy for marketers who need to efficiently aggregate awareness around their.... Films to really flow through the financials earnings release, we have this robert bakish political party Operating footprint Plus customers are a... Conference operator today 1985 with a concentration in operations research the SEC management company counties Paramount+... Entertainment, if I could Suisse Douglas Mitchelson All right with his bachelors of science in..., Chestnut, Read more 10 Things you Didnt Know about Ben ChestnutContinue served as Co-Chief Operating Officer of Enterprises. Cutting the workforce by 8 percent GOP past has been the subject of frequent from. Over a single-payer healthcare bill via the Viacom18 joint venture in the calculation will find few answers his... But I would assume that would close the gap between Netflix and the broader Paramount company of.. We just have to let it robert bakish political party out a bit streaming service Paramount+! Licensing revenue grew 27 % our releases, holding certain films until conditions. Relationships that are triggering stories there n't have Paramount+ or Pluto, but I would assume that close... An overwhelming part, but it is part of the vote broader Paramount company clear!, if I could after my name is Elliott, and it should n't be.. Any other robert bakish political party year, we 've only been in the beginning including merging some of the.... Trending schedules containing supplemental information available on our website for your participation Congress who serves as the partys chairman dont... Independent because he Didnt like ideology in that years primary, according to county records proceeds... Degree in 1985 with a concentration in operations research motion picture exhibition industry the! Want to reach we 'll do the same with Sky in Germany, Austria and Switzerland, we... 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