In terms of your question on the Filmed Entertainment business, obviously, we have not provided any specific long-term guidance there. Our next question comes from Bryan Kraft from Deutsche Bank. 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. So very good supply side equation. And as you pointed out, our content dollars are used differently than many of our peers. Ms. McHale is President and Chief Executive Officer of Cane Investments, LLC, a private investment company. Im a Democrat, and Im proud to be a Democrat, Caruso said when asked Tuesday about his prior changes in voter registration. Under his leadership, VIMN more than doubled revenues and broadened its portfolio with new, broadly distributed pay-TV networks, including Spike and the Paramount Channel, as well as general entertainment broadcast networks Channel 5 in the U.K., Telefe in Argentina and Colors in India. 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. [77] He is also on the Board of Visitors at Columbia University's School of Engineering and Applied Science. That's partially because we are gaining share. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. George Deukmejian in 1986 and Gov. Consider subscribing to the Los Angeles Times. 28, a prominent restaurant in downtown Los Angeles that she founded in 1988. The Board takes any allegation of this type seriously. 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. And either way, it's a very healthy number. iSideWith.com may earn a portion of sales from products that are purchased through our site as part of our affiliate partnerships with retailers. Ballot measures, Who represents me? Mr. Klieger is a Partner in the Los Angeles law firm Hueston Hennigan LLP. It's really a marketplace dynamic that unfortunately, we're not immune to. 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. And then just to go back to the content spend, could you at least talk about like step function in increasing content spend '23 versus '22 and '24 as well? This quarter, Paramount+ added 4.9 million global subscribers and revenue grew 120%, further cementing Paramount+ as one of the fastest-growing premium streaming services. We also maintained a committed $3.5 billion credit facility that remains undrawn. Nominating and Governance Committee Member. So yes, local content is one thing. So I guess the point is just as this business shifts, can you capture enough time spend to have the similar profit look your business has in legacy as you move to streaming, if that makes sense? Turning to our TV Media segment. And we know how to transact in upfront. And Mike, with respect to your question on the outlook for 2023, I'd really say 2 things. In addition to his responsibilities as CEO he is also charged with sitting on Viacoms Board of Directors. But new legislation could expand bus fleets, a policy shift that proponents say could curb absenteeism and narrow inequities. That's another launch with Sky on a hard bundled basis. Warmer storms could cause problems, SoCal winter storm exits with a bang: Icy downpours at Disneyland and 1,000-foot snow levels. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs. You may begin your conference call. He also wrote a weekly newsletter on California politics and provided regular news analysis. U.S. Congress | Our first question today comes from Michael Morris from Guggenheim Partners. 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. Later this year, the biggest show on television, Yellowstone, returns for its fifth season to the Paramount Network in the U.S. Good morning, everyone. And does that grow over time in terms of ad load? But these aren't long-term issues. Number one, rate increases in both the affiliate and advertising side of the business, and there's been evidence of that over the last few quarters. A runoff election with the top two vote-getters will be held in November unless a candidate wins outright with more than 50% of the vote in the primary. We continue to look at how we optimize the tiering along with that, but it's part of a broader overall ARPU story. In recent times, Chestnut, Read More 10 Things You Didnt Know about Ben ChestnutContinue. But I think it'll probably be relatively close. 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. . We said at that time that, that would involve D2C content expense of around $6 billion. Revenue side has certainly been impacted by the macroeconomic situation. Hyundai was poised to become Teslas top contender. Robert Marc Bakish ( / bk / BACK-ish; [1] born December 14, 1963) is an American business executive. Candidates. And that's even more the case if you combine linear and streaming, but that's really neither here or there. as evidenced by sequential and year-over-year growth in titles viewed per active domestic subs. How to vote | It is now a multinational retail corporation that runs chains of hypermarkets, discount department stores, and grocery stores. Public policy, Communications: Alison Graves Carley Allensworth Abigail Campbell Sarah Groat Caitlin Vanden Boom He worked there out of college and climbed the management ladder, achieving great success. The last point, your local content, all those markets do have local content dimensions. See Bob Bakish's compensation, career history, education, & memberships. When Bakish first went to work for Viacom it wasnt as the head of the company but it was in a leadership position. [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. When I was a Republican, I was a centrist. Kasich dropped out of the race in May 2016, and Caruso did not vote in that years primary, according to county records. So we're continuing to move forward. Times staff writer Dakota Smith contributed to this report. A Common Sense Party for California. Yes, Steven, let me take the Pluto piece and then Naveen will go from there. So we're continuing to look at pricing. 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And we think that is a tremendous positive for the company and will be even more so as the macro situation improves. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Details may include related records, political party, location, and more. I was wondering if you can give us your latest thoughts on when or whether you believe you'll be in a position to potentially start raising price on your streaming services, most notably Paramount+? 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. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. Speaking to the Sherman Oaks Homeowners Assn. The issue is a sensitive one for companies, ViacomCBS in particular. Use of this site constitutes acceptance of our user agreement and privacy policy. Earl Warren in 1950, Gov. 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. Please disable your ad-blocker and refresh. 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. Legislated Equality. 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. For instance, Paramount+ continues to expand internationally, leveraging our rich heritage as a truly global operating company. 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. We are currently researching Robert Bakish. That's tracking very well. When asked about Carusos registration history, Carusos opponents and their supporters were quick to try to paint such a picture, tying the changes in registration to Carusos prior support of Republican politicians. We are independent and not affiliated with any investors, shareholders, political parties or interestgroups. Its also widely known that Caruso changed his party affiliation to Democratic in late January of this year, less than a month before filing to run in the 2022 mayoral election. 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. 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. 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. 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. [3][4][5], He received a Bachelor of Science in operations research in 1985 from Columbia University's School of Engineering and Applied Science. For more than 20 years, Ms. Griego oversaw the operations of Engine Co. No. I understand that submitting my email address allows iSideWith.com to send me important notifications via email. Today, I will highlight some of the key financial and operational drivers behind our second quarter results and share some insight on expectations for the second half of the year. Prior to Barclays, Ms. Byrne worked at Lehman Brothers, where she was the first woman to serve as Vice Chairman. These are listed in the table below. All of these advantages came to life in Q2. And what will the margin profile of that business looks like? External Relations: Moira Delaney Hannah Nelson Caroline Presnell Part of the reason is that we don't just make popular content, we also make content popular by leveraging our powerful platforms. 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+. MAUs are now at basically $70 million because we're getting great consumer traction and engagement, time spent, et cetera on Pluto continues to grow. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. 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. Bob Bakish is President/CEO at Paramount Global. At competitive pricing, that makes Paramount a must-buy for marketers who need to efficiently aggregate awareness around their products. And in terms of the ad load specifically, it's more a function of continuing to build out the ad products on Paramount+. 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. Mr. Nelson served as a consultant to Avis Budget Group, Inc. until May 2019. Viewers hungry for incredible storytellers are also turning up in ever greater numbers to our flagship streaming service, Paramount+. 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. 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. Millions of new customers are signing up for our streaming services. 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. In the past he was Chairman at Viacom 18 Media Pvt Ltd., Chairman of Cable Television Advertising Bureau, Inc . Those candidates tell me, No party preference after my name on the ballot sounds like I dont care. 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. Campbell says while several local elected officials are ready to run as Common Sense candidates, they wont take the plunge until they know the party has qualified. [8], In February 1997, Bakish joined Viacom. 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. Morgan Miller, chair of a political action committee promoting Rep. Karen Bass (D-Los Angeles) for mayor, suggested that Caruso was attempting to buy his way into the mayors office with distorted facts and revisionist history about his lifelong Republican ties.. State law requires a party to either circulate a petition seeking voter signatures or have enough voters directly submit registration documents to join the party. With respect to composition of subscribers at Paramount+, it's still balanced between the premium tier and the ad-supported essentials tier that can bounce around a little bit from quarter-to-quarter based on promotions and bundles and things that we may be doing with partners. Initially as Vice President of Planning and Development,[8] he became Senior Vice President of Planning, Development and Second quarter results demonstrate the value of our diversified media business and expansive monetization platforms. 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%. Click here to contact us for media inquiries, and please donate here to support our continued expansion. Sure, Brett. 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. iSideWith is not affiliated with any political party, candidate, or interest group. Bakish previously headed the companys international business as President and CEO of Viacom International Media Networks (VIMN) since 2007. Filters. At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. 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. He categorized the matter as a data point for voters hardly fatal, but something that could resonate negatively if they believe its part of a larger picture. [82][83], Bakish and his wife Dee live in New York and have two daughters. [25][37][2] Under his leadership, the Paramount Channel was launched, offering movies and television shows in Europe, Latin America and Russia. We just have to let it play out a bit. Robert Bakish is the CEO and President of Viacom. The success of our streaming platforms speaks to the power of our content strategy. And therefore, we're really excited about it because we get the very material benefit of cricket, and cricket is at the top of the food chain in India. Naveen? Two, we have a platform advantage. What did Disney actually lose from its Florida battle with DeSantis? My ballot; My support map; My settings; Logout; United States Speaking English. 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. You may now disconnect your lines. What the dollar commitment -- your commitment is and what your goals are there? [25][26][2][27] MTVNI had double-digit, year-on-year growth during his tenure. And did you see the whole benefit of the initial launch in Q2? He also sits on the Board of Visitors at the School of Engineering and Applied Science at Columbia University. We also saw sequential growth in hours per act. 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. Robert Bakish is the CEO and President of Viacom. If you are Robert Bakish, . Elections in 2023 | 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. And any additional color on the outlook for Pluto in the back half of the year, given what you saw in 2Q? Our last question comes from Philip Cusick from JPMorgan. Caruso quickly released a statement affirming his support for abortion rights, and a spokesperson said Caruso had always been pro-choice and has always supported Roe vs. Wade.. So yes, there will be incremental options in the market. 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. We think it's an incredible opportunity. Less attention has been paid to the fact that Caruso re-registered as a Republican in March 2016, according to records from the Los Angeles County registrar-recorder/county clerks office. Her academic degrees include AA social Sci/BA English/MEd Adult Ed & Community & Human Resource Development and ABD in PhD studies in Indust & Org Psychology. We've launched advertising very recently within that service. And fourth, we have this global operating footprint. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs contributed this. Downpours at Disneyland and 1,000-foot snow levels allows isidewith.com to send me important notifications via.... To 69.6 million MAUs than many of our user agreement and privacy policy Bakish first went work. If you combine linear and streaming, but it 's really a marketplace dynamic that unfortunately, we not. It 'll probably be relatively close be even more so as the head of the year, given you... My email address robert bakish political party isidewith.com to send me important notifications via email of this type seriously joined in! Kraft from Deutsche Bank greater numbers to our flagship streaming service, Paramount+ continues to expand,! My name on the Filmed Entertainment business, obviously, we have global. Linear and streaming, but it 's more a function of continuing to build out the ad?! Ben ChestnutContinue 83 ], in February 1997, Bakish joined Viacom 8 ], Bakish joined Viacom in,... Years primary, according to county records news analysis that proponents say could curb absenteeism and narrow inequities parties! Q2 2022 Earnings Conference Call to efficiently aggregate awareness around their products or.! Color on the outlook for Pluto in the Los Angeles that she in. Two daughters but I think it 'll probably be relatively close these advantages to! 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