Post by The Ultimate Nullifier on Mar 7, 2017 10:24:48 GMT -6
www.hollywoodreporter.com/news/viacom-is-well-along-process-picking-new-paramount-leadership-ceo-says-983394
Viacom Is "Well Along" in Process of Picking New Paramount Leadership, CEO Says
Bob Bakish says Trevor Noah's 'Daily Show' now also airs on BET at midnight, Viacom's smaller networks will be fine and an entertainment channel bundle costing up to $20 could be appealing for cord-nevers.
Viacom is close to naming new Paramount leadership, CEO Bob Bakish told an investor conference on Tuesday.
Speaking at Deutsche Bank's 25th Annual Media & Telecom Conference in Palm Beach, Fla. in a session, which was webcast, he also reiterated his focus on talent relationships, and retaining top talent. He cited Amy Schumer's early relationship with Comedy Central as an example of Viacom's successes, but highlighted that she then went on to do a film for Universal instead of continuing the relationship with the company. In the same vein, Jordan Peele's Get Out should have been made at Paramount, he said.
The Viacom CEO also mentioned a recent example of using existing content and talent better. The Late Show With Trevor Noah has more upside in growing its total audience with the recent decision to also air it on BET at midnight, which has shown early success, he said. He emphasized that this helps the show reach a non-overlapping new audience.
Paramount was also a key focus on Tuesday. "Paramount is an iconic studio," and great asset, he told the conference, adding: "We are well along" bringing in new leadership for Paramount. "Hopefully it will come together in the very near future."
Bakish didn't share more details Tuesday about the future management of the studio arm after Paramount boss Brad Grey recently agreed to depart after 12 years as the company looks to revitalize the studio unit and its performance. But he said: "I'm very excited."
Bakish also said that "we have work to do" in terms of the success of movies and likes the target of releasing 15 films a year. In a competitive world, companies need advantages, and more closely integrating Viacom's film and TV operations are such an advantage, he added.
Another key issue of debate was the outlook for Viacom's smaller cable networks. "We kept pushing for more distribution, which is actually not something we fundamentally need," Bakish said about their outlook and where Viacom's past strategy went wrong. "They tend to be relatively low-cost networks, so they are fine in terms of economics where they are distributed."
He suggested that an entertainment channel bundle priced in the low teens to $20 range was "inevitable" one day and a possible mouse trap for cord-nevers.
Discussing his new overall strategy for Viacom, he was also asked if he is boosting the overall content budget. The CEO reiterated that "it's about spending money differently" rather than spending more money.
Bakish recently unveiled a new strategy, saying Viacom would focus on its six core flagship brands (MTV, Nickelodeon, Nick Jr., Comedy Central, BET and Paramount) and look for a "deeper integration" of Paramount Pictures with the rest of the company. The company, controlled by the Redstone family, as part of that unveiled that Spike TV will be rebranded Paramount Network.
While Viacom searches for Grey's replacement, an interim operating committee will run the studio and report to Bakish. The operating committee includes Paramount TV and digital entertainment president Amy Powell, COO Andrew Gumpert, movie division president Marc Evans, marketing/distribution president Megan Colligan and CFO Mark Badagliacca. Bakish recently said the committee will "keep the momentum going as we undertake a comprehensive search to identify a successor. Brad will stay on for a period to help with the transition, and I’ve also asked Wade Davis to spend a significant amount of time on the west coast to work with the team and support me during this time." Davis is Viacom's CFO.
Believed to be in the running for the top Paramount job are Jim Gianopulos, former chairman of Twentieth Century Fox, former Universal executive and producer Scott Stuber, former Lionsgate and Paramount top executive Rob Friedman, Oscars producer Michael De Luca, a veteran of Sony and others, and former Warner Bros. head Jeff Robinov.
Paramount was last among the six major studios in market share in 2016 with only one movie, Star Trek Beyond, cracking $100 million in domestic box office, and it last year posted its first-ever annual loss since THR started calculating the profitability of entertainment conglomerates' film units.
"We had a company that was highly siloed," with Paramount run as a separate island, Bakish also reiterated on Tuesday.
Viacom Is "Well Along" in Process of Picking New Paramount Leadership, CEO Says
Bob Bakish says Trevor Noah's 'Daily Show' now also airs on BET at midnight, Viacom's smaller networks will be fine and an entertainment channel bundle costing up to $20 could be appealing for cord-nevers.
Viacom is close to naming new Paramount leadership, CEO Bob Bakish told an investor conference on Tuesday.
Speaking at Deutsche Bank's 25th Annual Media & Telecom Conference in Palm Beach, Fla. in a session, which was webcast, he also reiterated his focus on talent relationships, and retaining top talent. He cited Amy Schumer's early relationship with Comedy Central as an example of Viacom's successes, but highlighted that she then went on to do a film for Universal instead of continuing the relationship with the company. In the same vein, Jordan Peele's Get Out should have been made at Paramount, he said.
The Viacom CEO also mentioned a recent example of using existing content and talent better. The Late Show With Trevor Noah has more upside in growing its total audience with the recent decision to also air it on BET at midnight, which has shown early success, he said. He emphasized that this helps the show reach a non-overlapping new audience.
Paramount was also a key focus on Tuesday. "Paramount is an iconic studio," and great asset, he told the conference, adding: "We are well along" bringing in new leadership for Paramount. "Hopefully it will come together in the very near future."
Bakish didn't share more details Tuesday about the future management of the studio arm after Paramount boss Brad Grey recently agreed to depart after 12 years as the company looks to revitalize the studio unit and its performance. But he said: "I'm very excited."
Bakish also said that "we have work to do" in terms of the success of movies and likes the target of releasing 15 films a year. In a competitive world, companies need advantages, and more closely integrating Viacom's film and TV operations are such an advantage, he added.
Another key issue of debate was the outlook for Viacom's smaller cable networks. "We kept pushing for more distribution, which is actually not something we fundamentally need," Bakish said about their outlook and where Viacom's past strategy went wrong. "They tend to be relatively low-cost networks, so they are fine in terms of economics where they are distributed."
He suggested that an entertainment channel bundle priced in the low teens to $20 range was "inevitable" one day and a possible mouse trap for cord-nevers.
Discussing his new overall strategy for Viacom, he was also asked if he is boosting the overall content budget. The CEO reiterated that "it's about spending money differently" rather than spending more money.
Bakish recently unveiled a new strategy, saying Viacom would focus on its six core flagship brands (MTV, Nickelodeon, Nick Jr., Comedy Central, BET and Paramount) and look for a "deeper integration" of Paramount Pictures with the rest of the company. The company, controlled by the Redstone family, as part of that unveiled that Spike TV will be rebranded Paramount Network.
While Viacom searches for Grey's replacement, an interim operating committee will run the studio and report to Bakish. The operating committee includes Paramount TV and digital entertainment president Amy Powell, COO Andrew Gumpert, movie division president Marc Evans, marketing/distribution president Megan Colligan and CFO Mark Badagliacca. Bakish recently said the committee will "keep the momentum going as we undertake a comprehensive search to identify a successor. Brad will stay on for a period to help with the transition, and I’ve also asked Wade Davis to spend a significant amount of time on the west coast to work with the team and support me during this time." Davis is Viacom's CFO.
Believed to be in the running for the top Paramount job are Jim Gianopulos, former chairman of Twentieth Century Fox, former Universal executive and producer Scott Stuber, former Lionsgate and Paramount top executive Rob Friedman, Oscars producer Michael De Luca, a veteran of Sony and others, and former Warner Bros. head Jeff Robinov.
Paramount was last among the six major studios in market share in 2016 with only one movie, Star Trek Beyond, cracking $100 million in domestic box office, and it last year posted its first-ever annual loss since THR started calculating the profitability of entertainment conglomerates' film units.
"We had a company that was highly siloed," with Paramount run as a separate island, Bakish also reiterated on Tuesday.