“Content Is What Viacom Is” – CEO Bob Bakish Talks Success and Strategy on CNBC

by Stuart Winchester, Viacom


Viacom CEO: Content is essentially what Viacom is from CNBC. Used with permission.

Less than two weeks after reporting fourth-quarter and full-year 2017 earnings headlined by year-over-year revenue gains built on strong partnerships and improving ratings, Viacom President and CEO Bob Bakish appeared on CNBC this morning to further underscore the company’s recent successes and positive long-term trajectory.

“You look at ’17, and I’m really happy with what we’ve accomplished,” Bakish told CNBC’s Julia Boorstin. “We rolled out this notion of flagship brands, which is about prioritization and multiplatform expression; we grew ratings and our ratings had been declining; our ad sales business went from minus eight in the quarter I took it over to flat last quarter, and that’s a big improvement; our distribution relationships, we said we were going to broaden them and bring more value to the table, and we did exactly that, and along the way renewed or extended half the sub-base; we moved the needle on content and IP, including doing some cross-house deals.”

There is still a lot of work to do, Bakish acknowledged, as he outlined the reasons for his optimism. “At the core, what Viacom is, is it’s a company of passionate content entrepreneurs that are expert in creating, producing, packaging and monetizing content on a global basis.”

Bakish also pointed to Viacom’s deep content library and novel partnerships arrangements – such as the company’s recent Charter renewal that included co-production of original content and collaborations around advanced advertising – as factors likely to contribute to the company’s long-term growth.

“Content is at the center of virtually every conversation,” Bakish said. “And content is what Viacom is.”

Viacom CEO Bakish Outlines Long-Term Growth Strategy on CNBC

by Stuart Winchester, Viacom

Footage courtesy of CNBC.

Viacom will marshal its resources around six flagship networks: MTV, BET, Nickelodeon, Nick Jr., Comedy Central, and Spike, which will be rebranded next year as a premium Paramount channel. Paramount Pictures will not be going anywhere; in fact, the flagship networks will join forces with the iconic studio to produce one or two co-branded films every single year. The company still claims the highest viewership of any cable family in the United States.

These were among the core messages that our CEO, Bob Bakish, delivered to David Farber on CNBC’s Squawk on the Street following release of the company’s first quarter 2017 earnings yesterday. Watch the full conversation above, and click over to Viacom Investor Relations to read the press release or listen to the earnings call.