We'd like to thank you for your participation. John Myers led the Los Angeles Times coverage of state government as Sacramento bureau chief from 2015 to June 2022. Filmed Entertainment OIBDA was $181 million, benefiting from the strong performance of our current year theatrical flights. Filters. Furthermore, he is the companys CEO, meaning that he is the one responsible for overseeing its operations. He made big changes in the beginning including merging some of the companies and cutting the workforce by 8 percent. HIGHLIGHTS. And we think that is a tremendous positive for the company and will be even more so as the macro situation improves. We added 5.2 million global D2C subscribers in Q2. [Operator Instructions]. He went on to attend Columbia University where he studied in their School of Engineering and Applied Science. It's really a marketplace dynamic that unfortunately, we're not immune to. 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. Please disable your ad-blocker and refresh. 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. [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. If you have an ad-blocker enabled you may be blocked from proceeding. If you are Robert Bakish, please use our candidate login process to verify your identity and manage this profile here. He eventually became a partner within Booz Allen Hamiltons entertainment and media practice. We have always executed with financial discipline, and we continue to be laser-focused on it. So maybe not for this year, but are we approaching a period where you could see more meaningful step function improvements in Filmed Entertainment's profitability? 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. And Mike, with respect to your question on the outlook for 2023, I'd really say 2 things. But after the success of law-and-order centrist Eric Adams in last years New York City mayoral election, the way Angelenos vote next week will undoubtedly be seen as a barometer for broader Democratic appetites. . We are currently researching Robert Bakish. He's held the position since December of 2016 after working several years with the company. Use of this site constitutes acceptance of our user agreement and privacy policy. Most importantly, it's pretty clear that we grew share. To learn more about ballot access requirements for political parties in California, see this article. In other states, a party must organize around a candidate for a specific office; that candidate must, in turn, win a percentage of the vote in order for the party to be granted ballot status. But obviously, given the macro advertising headwinds and the fact that there's a little bit less visibility in the back half of the year, it's possible we may not get all the way to that 60%. Click here to contact us for media inquiries, and please donate here to support our continued expansion. Importantly, Yellowstone's linear premier will support the streaming launch of Taylor Sheridan's latest original for Paramount+, Tulsa King, which debuts November 13 and stars the one and only, Sylvester Stallone. A Common Sense Party for California. 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. Sure, Rich. Our next question is from Kutgun Maral from RBC Capital Markets. 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. Good morning. With that, operator, can you please open the line for questions? 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? I know you're in a unique position of being able to leverage your content investments across a more diverse set of linear and digital platforms. Robert Bakish has 1 Voter Record There is 1 voter registration record for Robert Bakish. Whether Los Angeles voters who veered left on issues of criminal justice reform and backed Sen. Bernie Sanders (I-Vt.) in recent years want to see the Democratic Party swing toward the center remains an open question. We have a very strong proposition in the marketplace. Under his leadership MTVNI experienced growth in the double digits. Should the Common Sense Party be successful and recruit candidates who win, it could make a little history. These risks and uncertainties are discussed in more detail in our filings with the SEC. Independent voters have also warmed up to the governor, with the number of undecideds dropping sharply since 2019 and breaking in Newsoms favor. Yes. Were looking for character, said Tom Campbell, a former state senator and member of Congress who serves as the partys chairman. 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. Just think of the biggest movie in the world, Top Gun: Maverick; the most popular TV show in the country, Yellowstone; perennial global hits like the CBS crime procedurals, NCIS and FBI; or the world's most popular preschool franchise, Nickelodeon's PAW Patrol. 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. 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. And we continue to see very healthy levels of growth there, 56% D2C revenue growth in the quarter. So we like that strategy. 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. 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. 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.? I mean in terms of our expectations for Pluto in the back part of the year, I'd take a couple of things. 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. Packaged goods is managing through inflation issues, which is really impacting their ad spending as they look to protect margins. You may begin your conference call. That gives us incremental product visibility to the consumer, and it also benefited us in terms of third-party expense reduction. Bakish was made the President of MTV Networks international at the beginning of 2007. Caruso was a Republican for much of his life. Sure, Brett. And fourth, we have this global operating footprint. and we grew digital volume in the range of 30%. We have Italy in September. So that's one important economic advantage. 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+. But hes got no climate plan, wins outright with more than 50% of the vote. Prior to joining Sony Corporation of America, Ms. Seligman was a partner in the litigation practice at Williams & Connolly LLP in Washington, D.C., where she worked on a broad range of complex civil and criminal matters and counseled a wide range of clients, including President William Jefferson Clinton and Lt. Col. Oliver North. Joining me for today's discussion are Bob Bakish, our President and CEO; and Naveen Chopra, our CFO. We delivered 19% total company revenue growth through continued strong D2C momentum and record performance at the box off. As we look ahead in this ad market, there's 2 things I'd note. Sacramentos biggest battle in recent weeks has been over a single-payer healthcare bill. Continuing as we have to make those decisions prudently with a real eye towards the ROI of the investments, what we don't want to do is sacrifice a long-term opportunity by overreacting to some of the short-term headwinds that obviously exist, particularly in the advertising marketplace today. We've seen some price increases at different streaming services. Try it now! He is a member of the Council on Foreign Relations and The Economic Club of New York. Related to the streaming ad size, Paramount+ grew advertising over 90% in the quarter. 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. It's going to be part of a streaming offering for the Indian market, that Viacom18 is going to launch in 2023. Public policy, Communications: Alison Graves Carley Allensworth Abigail Campbell Sarah Groat Caitlin Vanden Boom One on content spend and one on film entertainment, if I could. 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. Hes also had international business experience, 6. Caruso greets customers at Grand Central Market on Thursday. Candidates. 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. 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+. She has worked with executives at AARP, Ascena, Ann Inc., Blackstone, CitiVentures, Coach, Kohls, IBM, eBay, Facebook, GE, Target, Starbucks, Oprah Winfrey Network, Weight Watchers, Viacom, The CW and Yahoo!, among many others. In 2004, Viacom appointed Robert Bakish as the Executive Vice President of Operations at the parent company Viacom, Inc. He was given the title of Executive Vice President and Chief Operating Officer of MTVs advertising sales from 2001 through 2004. Kasich dropped out of the race in May 2016, and Caruso did not vote in that years primary, according to county records. The yellow school bus has become an increasingly rare sight in California. The Board takes any allegation of this type seriously. But Caruso offered more candor about his evolving political thinking during a meeting with an influential homeowners group in March. Caruso served as Kasichs California co-chair and was outspoken about his dislike for then-candidate Donald Trump. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. Caruso has typically dismissed criticism and most questions about his registration history. Mr. Klieger is a Partner in the Los Angeles law firm Hueston Hennigan LLP. Get up to speed with our Essential California newsletter, sent six days a week. She was part of the team that was a 2022 Pulitzer Prize finalist in breaking news for work covering a fatal shooting on the set of the film Rust. Previously, she was the author of the Essential California newsletter. [41][37][42][43] Simultaneously, he was also appointed President and CEO of the newly created Viacom Global Entertainment Group, combining Viacom International Media Networks (VIMN) with Viacom's Music and Entertainment group, which includes MTV, Comedy Central, VH1, Spike TV and Logo TV; two additional networks, TV Land and CMT, also joined the Global Entertainment Group. We now turn to Jessica Reif Ehrlich from Bank of America Securities. 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. He previously served on the board of Convergys Corporation. Ms. Byrne is Former Vice Chairman of Barclays PLC. Interns wanted: Get paid to help ensure that every voter has unbiased election information. We wanted to learn more about him so we looked into his profile and list of accomplishments and we made some interesting discoveries. So what we're really navigating from an OIBDA perspective is the weakness in the macro advertising marketplace. Try the political quiz. This, combined with our fiscally disciplined approach, including with respect to cost management, provides a real advantage in these challenging times and beyond. We continue to monetize them from a catalog perspective. Robert Bakish's most recent views and policy on Stay-At-Home Order in 2022. . [65][66][67][68][69] In addition, later that June, Bakish announced that Viacom will produce some new series exclusively for Netflix, beginning with Nickelodeon-related content. At this time, I would like to welcome everyone to Paramount Global's Q2 2022 Earnings Conference Call. My beliefs; My parties; My ballot; My support map; My settings; Logout; United States Speaking English. And does that grow over time in terms of ad load? Robert Bakish is the CEO and President of Viacom. Ballotpedia features 395,441 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. That's super important to us because it's a big category for us given our demographics and specifically the demos of CBS. She is a member of the Board of Trustees at Dana Farber Cancer Institute. Prior to joining Hueston Hennigan, Mr. Klieger was a Partner at Irell & Manella LLP and a Founding Partner at Kendall Brill & Klieger LLP. [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. She practiced corporate law, estate planning and criminal law in the Boston area before joining National Amusements. Wed, Feb 16 20228:34 AM EST. However, it should be mentioned that Paccar has other products and services, Read More 10 Things You Didnt Know about Paccar CEO Ronald E. ArmstrongContinue, Walmart was founded by Sam Walton in 1969. 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. Rick Caruso fields media questions on Thursday. [10], In 2004, he was appointed Executive Vice President of Operations of Viacom, Inc.,[11][12][13][14][15] and in 2006 he was also appointed Executive Vice President of Viacom Enterprises. Warmer storms could cause problems, Rick Caruso could soon be L.A. mayor. Bakish oversees one of the worlds leading producers of media and entertainment content, driven by a global portfolio of powerful consumer brands and flagship streaming platforms, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, and Pluto TV, among others. Benefiting from the strong performance of our user agreement and privacy policy, estate and! Really navigating from an OIBDA perspective is the CEO and President of National Amusements, a former senator., meaning that he is a partner in the marketplace member of Congress serves. D2C revenue growth through continued strong D2C momentum and record performance at the parent company Viacom,.... 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