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. [24] He launched the popular Colors franchise of networks via the Viacom18 joint venture in the high-growth market of India. Website the Information first reported and Deadline has confirmed that the review centered on a complaint made this year by a former Nickelodeon employee, who alleged that Bakish touched her inappropriately at Viacoms holiday party in 2016, when he was acting CEO. Learn how your comment data is processed. iSideWith shows which candidates you side with based on the political issues selected most important to you. And of course, we will continue to have a lot of innovation and discipline on the cost side of the equation, and that's true across programming, it's true across marketing, and it's true across our broader operations. Times staff writer Dakota Smith contributed to this report. Pluto TV is already the #1 free ad-supported streaming television service in the U.S. And this quarter, monthly active users grew to nearly 70 million globally. So we're continuing to look at pricing. For more than 20 years, Ms. Griego oversaw the operations of Engine Co. No. 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. Robert Bakish. Ms. Schuman has worked alongside Fortune 100 CEOs and their teams to help build their strategies, cultures and human behaviors throughout their organizations. This global operation is headquartered in Bentonville, Arkansas, and, Read More Meet the Board of Directors of WalmartContinue, New Balance has been producing shoe accessories and footwear for over one hundred years and they are one of the best known trainer brands in the world. 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. Menu Candidates > Robert Bakish > Ideology. And we're just getting started. [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. Personal Freedom. We haven't provided any kind of specific cadence of exactly what that looks like from year to year, but we're continuing to invest and manage the business with those goals. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. I just had a couple of questions on one topic, which is sort of the international opportunity with Paramount+. And as we look at, as streaming becomes bigger for us, as we gain scale, we see operating margins from streaming approaching that of TV Media. 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. And at this scale, we offer advertisers access to a wide variety of audiences across every demographic. And thankfully, we are viewed as a good place to work, if you will. So we've been managing with that for a while. Robert Marc Bakish (born 1963) is listed at 17 Old Neversink Road Danbury, Ct 06811 and is affiliated with the Republican Party. In 1999, she was named as the first woman to chair a major New York law firm, a position she held for 17 years. So IPL i.e., India cricket, I assume, that's a deal that was done by our joint venture in India, Viacom18, which recently had a transaction where they brought in Bodhi Tree as an investor and Capital Infusion. Just wondering if you could talk in some more detail about the impacts of the macroeconomic environment that you're seeing in the business and particularly what you're seeing in terms of advertising demand across your own platforms. Paramount+ revenue growth was 120%, and we continue to be very bullish about growth going forward. And importantly, our competitive position in the ad market is very strong. Our next question is from Kutgun Maral from RBC Capital Markets. 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. For decades, California law has forbidden the states medical board from considering victim statements in decision-making. Both of those have hard bundle elements to them. Under his leadership MTVNI experienced growth in the double digits. But he did share insight into his worldview with the relatively small audience, saying he became an independent because he didnt like ideology. 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 was a President of Oracle Corporation from 2003 to 2010 and served as a member of its Board of Directors and Executive Management Committee from 2004 to 2010. In order to qualify for ballot placement, a party must meet certain requirements that vary from state to state. At the center, of course, is our hugely popular content, big, broad and beloved. Yes. Copyright 2022 Paramount All Rights Reserved. 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. We said at that time that, that would involve D2C content expense of around $6 billion. So a couple of points there. We're also seeing the power of partnership to bring Pluto TV to greater heights. He's held the position since December of 2016 after working several years with the company. It helps our marketing economics, and it shouldn't be discounted. We have always executed with financial discipline, and we continue to be laser-focused on it. As evidence, it is worth noting that we recently had our strongest multi-platform unified upfront yet. Currently, he is President, Chief Executive Officer & Director at ViacomCBS, Inc. Mr. Bakish is also on the board of 5 other companies. We want to hear from you! My name is Elliott, and I'll be the conference operator today. But if you look at Q2, Paramount's combined U.S. linear delivery was bigger than Netflix. We've got more captivating content on the way, and our multi-platform approach will drive even more viewers to streaming. The combination of streaming and traditional is significant. Caruso could be right about that. Campbells career in Republican politics ended in 2010 with a failed U.S. Senate primary campaign as his centrist Republican views were drowned out by the rise of the tea party movement and the eventual election of former President Trump in 2016. Sure, Michael. State executives | So that's the IPL answer. 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. And we think that is a tremendous positive for the company and will be even more so as the macro situation improves. And again, they're very happy with what we brought to market and how it's performing. 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. Sort of everyone, but Netflix is losing billions a year on streaming. We had broadcast and cable pricing increase at the same high single-digit rate. And as part of that, could you talk a little bit your international programming strategy? Our last question comes from Philip Cusick from JPMorgan. Joining me for today's discussion are Bob Bakish, our President and CEO; and Naveen Chopra, our CFO. And Mike, with respect to your question on the outlook for 2023, I'd really say 2 things. So we're continuing to move forward. I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. In closing, we are enthusiastic about the long-term opportunity for Paramount, unlocked by powerful content and a massive and growing market for streaming. [Operator Instructions]. Mr. Nelson served as a consultant to Avis Budget Group, Inc. until May 2019. By the way, we also launched South Korea the week before. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. We know how to do programmatic. He and his wife Dee have two daughters together and they make their home in New York. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. Prior to that, Mr. Nelson held several executive finance and operating roles, beginning in 2003 with Cendant Corporation, including as its Chief Financial Officer and President and a member of its board from 2003 to 2006. [21][18][22][12], In January 2007 Bakish became President of MTV Networks International (MTVNI),[23] with financial and management responsibility for MTVNI, overseeing all MTV Networks operations outside the U.S.[22] He immediately restructured MTVNI, cutting 8% of the workforce in addition to merging some overseas units with the UK business and devolving responsibilities for Latin American operations to new offices across the region. It is a distinguished firm that developed the first chatbot building platform in the world. Remember, Rich, we've only been in the streaming business for a short time. I know it might take some time before we get to the more profitable windows for these films to really flow through the financials. 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). Or is some of that going to lead into Q3? Yes. 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. Caruso kept his Republican Party affiliation until mid-November 2019, when he changed his registration back to no party preference, according to county records. That's, of course, driven by meaningful growth in engagement and continued innovation around the ad products that we make available. During the time of his leadership in this division he established the Colors network franchise in India, which became very popular. Use of this site constitutes acceptance of our user agreement and privacy policy. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. State legislature | Mr. Klieger is a Partner in the Los Angeles law firm Hueston Hennigan LLP. The conventional wisdom, based on news headlines and social media, is that Gov. But thats not what pollsters at the nonpartisan Public Policy Institute of California have found. It definitely extends past that. She previously served on the board of ALSTOM, a public French transport company. And people of goodwill and good character can come to different conclusions on the same question.. We also saw sequential growth in hours per act. 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. Paramount continues to shine at the box office with numbers that outperformed even our own expectations, and we're excited about the future. Paramount+ saw continued engagement improvement as our content offering expanded even further. If you have an ad-blocker enabled you may be blocked from proceeding. 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). 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. As we look ahead in this ad market, there's 2 things I'd note. Try it now! Nominating and Governance Committee Member. iSideWith is not affiliated with any political party, candidate, or interest group. Interns wanted: Get paid to help ensure that every voter has unbiased election information. In Filmed Entertainment, Q2 revenue was $1.4 billion, more than double the year ago period. [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. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Bakish is responsible for turning the Viacom company around and improving its financial situation. All of these advantages came to life in Q2. Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. Theatrical revenue increased $630 million, driven by the success of Top Gun: Maverick and Sonic the Hedgehog 2. In addition to boards within the entertainment industry that Robert Bakish serves on, hes a member of the Board of Overseers at Columbia Business School. Those launches are performing above our expectations. [Operator Instructions]. The title changed in 2006 to Executive Vice President of Viacom Enterprises. Hard bundle deals like these allow us to quickly unlock a healthy volume of subscribers at 0 acquisition cost and with very low churn. as evidenced by sequential and year-over-year growth in titles viewed per active domestic subs. Ms. Griego has served, since 1986, as President and Chief Executive Officer of Griego Enterprises, Inc., a business management company. 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. 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. Following is the unofficial transcript of a CNBC interview with Paramount President and CEO Bob Bakish on CNBC's "Squawk Box" (M-F 6AM - 9AM ET) today, Wednesday, February 16 th.Following is a . 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