U.S. President | And so of course, when you think about it through that lens, you have to focus on the fact that we added 5 million Paramount+ subs in the quarter. The combination of continued investment and ad market softness means that D2C losses should remain roughly the same in the second half of 2022 as the first half of the year. Sure, Brett. That's partially because we are gaining share. These are listed in the table below. He serves on the boards of both schools and is also a Director on the Board of AVID Technologies, a NASDAQ-listed company. And I'd point out that all that's not just conceptual, it translates into performance. [Operator Instructions]. We continue to look at how we optimize the tiering along with that, but it's part of a broader overall ARPU story. 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 . Prior to joining Hueston Hennigan, Mr. Klieger was a Partner at Irell & Manella LLP and a Founding Partner at Kendall Brill & Klieger LLP. We think it's an incredible opportunity. Under his leadership MTVNI experienced growth in the double digits. Thats because if it fails, their candidacy would be changed to that of a no party preference contender. Ms. Redstone is Chairperson, CEO and President of National Amusements, a world leader in the motion picture exhibition industry. Our last question comes from Philip Cusick from JPMorgan. From 1994 to 2003, Mr. Nelson served as Co-Chief Operating Officer of DreamWorks SKG. 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? And fourth, we have this global operating footprint. 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. 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. The first is, to what extent are you seeing any inflationary cost pressures in the business? Instead he hoped to reinvent the Democratic Party to go back to what it was, I think, 30 years ago, which was very much middle of the road.. Initially as Vice President of Planning and Development,[8] he became Senior Vice President of Planning, Development and But we are still focused on managing the business to peak losses in '23, and then starting to see improvements in earnings, both for the D2C segment and the consolidated business as a whole beyond that as we move toward our long-term D2C revenue and subscriber goals. Ms. McHale has extensive experience leading a major media conglomerate with a background in operations and financial management, expertise in global affairs, experience in government affairs and extensive public company and corporate governance experience. How to vote | He and his wife Dee have two daughters together and they make their home in New York. Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. [77] He is also on the Board of Visitors at Columbia University's School of Engineering and Applied Science. Los Angeles, Review: A reimagined Secret Garden fails to flower anew at the Ahmanson Theatre, High school basketball: Southern California and Northern California Regional results and updated pairings, Im visiting all 600 L.A. spots on the National Register. See Bob Bakish's compensation, career history, education, & memberships. Pluto TV added 2.1 million global MAUs in Q2, bringing our global reach to 69.6 million MAUs. And we got tremendous engagement, i.e., time spent off the library. And I note that we are seeing some areas of category strength, including in Q2 and today, travel, technology. Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contains supplemental information and in each case, can be found in the Investor Relations section of our website. And at the core of it, it's our differentiated as we say, playbook. Share. Robert Marc Bakish received an MBA from Columbia Business School and an undergraduate degree from Fu Foundation School of Engineering & Applied Science. [59] In early 2018, Bakish also announced the launch of an official Viacom streaming service, which will support ads and will include series and content from Viacom that hasn't been available on other streaming services. [6][7] He earned an MBA from Columbia Business School in 1989. Paramount+ will also debut a criminal minds revival, building on what is already a fan favorite. Sign up here to get California Politics in your inbox.Until next time, send your comments, suggestions and news tips to politics@latimes.com. Sure, Jessica. But really, competition is nothing new. . So we're continuing to move forward. Mr. Klieger is a Partner in the Los Angeles law firm Hueston Hennigan LLP. So we've been managing with that for a while. Such labels are called. 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. Ms. Seligman served as law clerk to Justice Thurgood Marshall on the Supreme Court of the United States from 1984 to 1985 and as law clerk to Judge Harry T. Edwards at the U.S. Court of Appeals for the District of Columbia Circuit from 1983 to 1984. The CBS board at the time accused him of willful and material malfeasance.. So our content investment is definitely working. Third point I'd make is this is a big year for Western Europe for us. Cities | Yes, I'll take those. Bakishs leadership was integral to the successful merger of Viacom and CBS as he led the transformation efforts within the new company, combining two great cultures, formalizing a best-in-class leadership team and aligning the organization around strategic growth priorities centered on streaming. And there, we're really the global part of the global tier to their local offering. I'm particularly interested in whether that's creeping into content production costs. 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. As such, in the second half of the year, we expect TV Media OIBDA to return to modest growth on a year-over-year basis. We'll end this spectacular year with Damien Chazelle's Babylon, starring Brad Pitt and Margot Robbie, which begins its theatrical rollout in December. Prior to Oracle, Mr. Phillips was a Managing Director at Morgan Stanley in the Technology Group and served on its Board of Directors. 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.. He has donated more frequently to Democratic politicians in recent years, including contributions to the congressional campaign of his now-opponent Bass in 2010 and 2011. The title changed in 2006 to Executive Vice President of Viacom Enterprises. 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. 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. You may occasionally receive promotional content from the Los Angeles Times. Campbells group rightly points out that parties are allowed to raise large sums of money to win elections, while independent no party preference candidates are limited to the relatively small donation limits for individual contributors. So that's the IPL answer. Revenue grew 10% year-on-year. Q2 showed a company that it's taking market share in streaming, in broadcast, in box office and in upfront dollars. All told, the real estate developer has changed his party registration four times in the last 11 years, shifting twice between Republican and no party preference before re-registering as a Democrat about four months ago. So on your first question, inflation, in our business, we actually saw inflation a while ago, really more in the production side of the house related to talent and competition therein. Before joining The Times in 2019, Wick was the editor in chief of LAist and a senior editor at Longreads. . Our audience reach across broadcast, cable, ad-supported SVOD at Paramount+ and free ad-supported streaming TV in Pluto TV represents a connected viewing ecosystem that produces over 1 trillion ad impressions per year in high engagement premium environment that are proven to drive outcomes for clients. Robert Marc Bakish is a businessperson who has been at the helm of 8 different companies. Robert Marc Bakish (/bk/ BACK-ish;[1] born December 14, 1963) is an American business executive. That's tracking very well. [25][38][26][39][40], In October 2016, Bakish was named acting President and CEO of Viacom effective November 15, replacing interim CEO Tom Dooley. California election officials currently recognize six political parties for purposes of candidates seeking office, with Democrats and Republicans joined by the American Independent Party, the Green Party, the Libertarian Party and the Peace and Freedom Party. Then the U.S. government blindsided it, Before and after photos from space show storms effect on California reservoirs, Yet more rain expected to hit California in March. All of these advantages came to life in Q2. One, I mean, as you saw in Q2, we continue to see tremendous momentum in the direct-to-consumer business, whether you look at the growth on Paramount+ subs, what we're seeing in terms of churn, nice MAU growth and engagement growth at Pluto and most importantly, D2C revenue growth at very, very strong levels, 50% on a combined basis, well over 100% revenue growth at Paramount+. 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. This growth consisted of a 74% increase in subscription revenue and a 25% increase in advertising revenue. Our last question comes from Philip Cusick from JPMorgan Viacom Enterprises that it 's taking market share streaming. 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