Paramount Viacommunity Film Vies for Top Spot at Boston College Festival

by Stuart Winchester, Viacom

​Each year, thousands of Viacom employees around the world unite for Viacommunity Day, helping to rebuild and revitalize their local communities with a series of service projects. At Paramount Pictures – which for the past two years has had the highest percentage of employees from any Viacom company division participating in projects – the day has special resonance.

To commemorate the titanic efforts of their employees at last year’s event, Paramount’s social responsibility team put together A Day for Unity, a rousing video recap of the landscaping, painting, organizing, and volunteering at zoos, community centers, soup kitchens and food distribution centers that took place across the Los Angeles area on Viacommunity Day 2017.

Paramount Viacommunity 2017 Video from Viacom on Vimeo.

This video testament to Paramount’s efforts is now part of the Boston College Center for Corporate Citizenship International Corporate Citizenship Film Festival, an annual event that honors the best in corporate social responsibility. Click here by Feb. 19 to vote for Paramount’s submission.

Viacom Announces First Quarter 2018 Results, Accelerates Transformation Efforts

by Stuart Winchester, Viacom

Viacom released its financial results for the first quarter of fiscal 2018 this morning, underscoring the significant progress being made to transform its business amid rapid industry change.

Aggressive moves to expand next-generation platforms and solutions, initiatives to grow beyond TV and film, the launch of a premium content network, strengthened relationships with distribution partners, and the demonstrable success of its Flagship Six strategy all position Viacom for potential growth in the second half of 2018.

“In the quarter, Viacom aggressively drove progress on our strategic plan, delivering improvements in our business and positioning the company for the future,” said Viacom President and CEO Bob Bakish. “Viacom’s most-watched portfolio of domestic cable brands grew viewership share in the quarter, led by our powerful flagship networks, which now includes Paramount Network – the biggest and most ambitious network rebrand in our history. Internationally, we continue to deliver double-digit top-line and bottom-line Media Networks gains while launching innovative new partnerships in growth territories around the world.

“Viacom has also made considerable progress in its push to accelerate consumption and monetization on next-generation platforms, achieving substantial growth in worldwide digital advertising revenues, expanding distribution on fast-growing virtual MVPD and mobile services, and ramping up resources and talent at Viacom Digital Studios. Additionally, since the end of the quarter, we continued to expand our digital capabilities with the acquisition of influence marketer WHOSAY and the world’s premier online video event, VidCon. In addition, our strategy to further diversify our core properties off-screen through live events, hospitality and consumer products continues to progress, with the much anticipated Broadway premiere of the SpongeBob SquarePants musical in the quarter, along with new initiatives across our portfolio.

“We remain deeply committed to maintaining strong financial discipline and delivering returns for our shareholders. In the quarter, Viacom continued to improve its leverage profile and we are on track to achieve $100 million in new cost savings in the current fiscal year, and hundreds of millions more in 2019.”

Here’s a closer look at what Viacom is doing to advance its strategic plan and transform the company in the year ahead:

Flagship Six networks anchor Viacom’s spot atop the basic cable universe

Led by its Flagship Six of MTVBETComedy CentralNickelodeonNick Jr. and Paramount Network (which launched after the quarter ended, replacing Spike in the U.S.), Viacom continued to stand at the top of the basic cable universe, holding the largest share of viewers in all key demos:

And the portfolio continued to grow: MTV primetime ratings (+14 percent) and share (+25 percent) both surged, BET recorded a second consecutive quarter of double-digit year-over-year ratings growth (+16 percent), Nick hit its 10th consecutive quarter as the top network among kids, and Comedy Central documented its third straight quarter of increased year-over-year audience share.

Viacom’s other core brands – VH1, TV Land and CMT – recorded year-over-year quarterly ratings and share growth. For VH1, this marked its 10th consecutive quarter of ratings growth, making it the only entertainment net across both cable and broadcast that can make this claim.

Complementing these growing ratings are strengthened affiliate relationships with Suddenlink and Charter, which should help further boost viewership and the advertising revenue that goes along with it.

Paramount Network launches Viacom Media Networks into the premium content space

Paramount Network rumbled to life last month, propelling Viacom Media Networks into the premium content realm and capitalizing on the deep storytelling tradition of Viacom’s iconic Paramount brand. Strong ratings immediately followed, first for Lip Sync Battle: Live Michael Jackson Celebration and then for the premiere of Waco starring Taylor Kitsch. Several more high-profile shows land over the coming months, including a Heathers reboot, American Woman with Alicia Silverstone, and Yellowstone starring Kevin Costner.

Viacom had already been invested in the creation of premium television content, however, under the umbrella of Paramount Television, a production studio seated under Paramount Pictures that tripled revenues in 2017. The studio’s robust content pipeline includes Hulu’s Catch-22, EPIX’s The Contender, TNT’s The Alienist (cable’s number one new drama series), Amazon’s Jack Ryan, and new seasons of USA Network’s Shooter, EPIX’s Berlin Station, and Netflix’s 13 Reasons Why.

The turnaround of Paramount Pictures continues

Paramount Pictures Chairman and CEO Jim Gianopulos has assembled a new leadership team dedicated to igniting growth. The July release of the next Mission: Impossible film will act as the springboard for a 2019 slate that will include eight films co-branded with Viacom’s media networks. Major production deals with Hasbro, Skydance, and The Fast and the Furious producer Neal Moritz should further bolster a lineup that already includes Bumblebee, Gemini Man, and sequels to Top Gun and World War Z.

Viacom’s push into next-generation platforms accelerates

Yesterday, Viacom announced the acquisition of VidCon, turbocharging a next-generation digital platform strategy that also includes Viacom Digital Studios and recently acquired influence marketer WHOSAY.

This digital pivot has already yielded results, with global video consumption on Viacom’s sites, mobile apps and connected devices surging 38 percent year-over-year during the quarter. As Viacom Digital Studios ramps up to scale and begins distributing unique content across the company’s massive social footprint, Viacom anticipates a doubling of video views and significantly increased watch time on YouTube and Facebook this year.

Viacom will continue to move toward the center of consumers’ digital lives, both internationally – where the company secured a major mobile distribution deal with Telefónica in Latin America– and domestically, where a significant direct-to-consumer experience could be announced later this year.

Viacom’s live events business is growing rapidly

VidCon, which draws more than 30,000 attendees to its flagship Anaheim event and is in the beginning stages of international expansion, adds a powerful arrow to Viacom’s live-events quiver. Every flagship brand will host at least one major live event in the U.S. this year, including Comedy Central’s ClusterFest, which drew 40,000 fans in its inaugural run last year; SpongeBob the Musical, which opened to soaring reviews on Broadway; and The BET Experience, which will continue to attract tens of thousands of fans around the BET Awards in June.

International ad, affiliate and general revenue surge

Viacom International Media Networks continues to crank out steady growth: a 13 percent overall revenue jump, a 17 surge in advertising revenue, and 13 percent growth in affiliate revenues.*

Strong growth in Europe and the integration of Argentinian broadcaster Telefe contributed to these impressive numbers. The launch of Paramount+ in the Nordics, the debut of a free-to-air Spike network in Italy, and a restructuring of our jointly owned Viacom18 property in India should all contribute to further gains.

*All international revenue numbers are adjusted for a five percent favorable impact from foreign exchange

To see what Viacom will debut in the months ahead, scroll through the timeline below, or click here to view the full-screen version.

Paramount Network Launches, Propelling Viacom Into Premium Content Space

by Stuart Winchester, Viacom

Paramount Network launches tonight with a special edition of smash hit Lip Sync Battle, propelling Viacom into the premium content universe and building on the century-long storytelling tradition of fellow Viacom property Paramount Pictures.

The launch marks an important business milestone for Viacom, fulfilling a key pillar of CEO Bob Bakish’s strategic plan and cracking open potential for new marketing and advertising partnerships behind a star-studded slate that blends the best of the retiring Spike network with high-quality scripted programming.

The network will rumble to life at 9 p.m. ET with Lip Sync Battle Live: A Michael Jackson Celebration, a showcase of the legendary musician’s hits starring Neil Patrick Harris, Taraji P. Henson, Hailee Steinfeld, Laverne Cox and others.

Paramount Network completes CEO Bob Bakish’s flagship six strategy

The Paramount Network launch culminates a monumental yearlong effort to reorient Viacom under CEO Bob Bakish, consolidating resources under the company’s most iconic brands. The focus around six flagships – Nickelodeon, Nick Jr., MTV, Comedy Central, BET and Paramount Network – is a strategy Bakish had successfully implemented in his decade-long run as head of Viacom International Media Networks.

The strategy has proven successful on the domestic front as well. Nickelodeon and Nick Jr. remain the top kids brands, MTV has ignited a primetime ratings and programming resurgence, Comedy Central completed 2017 with its best ratings week of the year, and BET just completed its 16th year as the top cable network for African-Americans. The last piece was the launch of Paramount Network.

“There’s no better way to better encapsulate Viacom’s strategy change under Bob Bakish than to look at the creation and launch of the Paramount Network,” notes TBI Vision.

Paramount Network launches Viacom into the premium content game, with big stars and great stories

Paramount Network’s premium scripted content will launch Jan. 22, when Waco, co-starring Michael Shannon and Taylor Kitsch, debuts. Yellowstone starring Kevin Costner, American Woman starring Alicia Silverstone and Mena Suvari, and a re-imagining of the 80s classic Heathers will follow later this year.

“The audience has an expectation that there are going to be big names, big stars, great storytelling, great characters, and I think that’s what we have to focus on,” Paramount Network President Kevin Kay told Variety.

Paramount Network opens up tremendous partnership opportunities

The combination of captivating content, huge talent and high production generates enormous interest not just from fans, but also from advertising, distribution and creative partners who want to do business with Viacom.

“All the groups together went out and presented to both the movie studios, to our agency clients, and then to our distributors as well,” recalled Kay when asked how partners have been processing the rebrand. “People understood why we are rebranding Spike as Paramount Network, they’re excited to work with us, and the biggest thing I think that came both on the distribution side and on the ad-sales side was that clients said, ‘we want to be your partners.’”

The best of Spike is coming along

When the tribute to the King of Pop ticks to life tonight, the long-running Spike network will cease to be in the United States, gifting to Paramount Network its top unscripted programs – Ink Master, Bar Rescue, and Lip Sync Battle – plus Bellator MMA.

This mix of legacy unscripted programming establishes the net’s impressive versatility and provides a stable complement to Paramount Network’s still-evolving scripted slate.

“We’ve got scripted dramas, non-scripted in a big premium way, we’ve got scripted comedies, we’ve got docuseries, and we’ve got Mixed Martial Arts,” Kay told Deadline. “If you look around at the broadcast networks, that’s not a bad model to me. On the broadcast networks, you’ve got drama nights, you’ve got comedy nights, you’ve got sports nights. You’ve got a lot of variety for different viewers across a very broad audience. I feel that’s where we want to be.”

Nobodies will also migrate to Paramount Network, from Viacom’s TV Land. There are more original concepts in development, including sketch comedy series Browntown in collaboration with leading Latino-focused digital media brand mitú.

Paramount Network builds on Paramount Picture’s century-long legacy

Paramount Network takes its name from the rich DNA of Viacom’s Paramount Pictures, the 105-year-old Hollywood icon whose deep catalogue houses some of the most memorable films ever made, including Titanic, Forrest Gump, and the Godfather films. While Paramount Network and Paramount Pictures will operate separately, their relationship will mirror that of other Viacom properties under Bakish, in which the brands collaborate with the movie studio to maximize the reach of intellectual property.

“There’s a real big need, and there’s a want, a desire, for us all to work together really closely, to both exploit [Paramount Pictures’] library and then to help promote the movies, and then to potentially create some great programs for Paramount Network,” Kay explained.

Paramount Pictures also owns the Paramount Television production studio, which tripled its revenue in 2017 through a steady stream of high-quality content, including the Netflix sensation 13 Reasons Why, Epix’s Berlin Station, and Shooter on USA.

“There is incredible demand for high-quality television content and the reality is, there are not that many places that you can get it,” Bakish said at the at the UBS Global Media and Communications Conference in December, underscoring the importance of Paramount Television.

The Paramount name resonates globally – Viacom offers a network called Paramount Channel in select markets outside of the United States. According to Bakish, it is the largest ad-supported movie channel in the world.

Coming Soon to Viacom: Tyler Perry

by Stuart Winchester, Viacom

Fans of Viacom, BET, Paramount and Tyler Perry got some good news last week:

Beginning in May 2019, the prolific writer, director, producer, actor and playwright behind seven television series, 16 feature films and 20 plays will turn his creative energies toward producing 90 episodes of original comedy and drama each year for BET and other Viacom networks. His movies may be coming to Viacom even sooner – Paramount Pictures has exclusive first look rights to Perry’s new feature film content starting immediately.

“Today’s announcement represents an important step forward as Viacom continues to make swift progress against our new strategic plan,” said Viacom President and CEO Bob Bakish, referring to the company’s February reorientation around our six flagship networks: MTV, Comedy Central, Nickelodeon, Nick Jr., BET, and Spike (soon to become Paramount Network).

“By prioritizing efforts to work with the best, most versatile talent in the entertainment industry, we are better positioned to deliver must-watch content across our brands and platforms. Tyler is a prolific creative force, and I’m excited that this collaboration will bring his signature humor and powerful storytelling to Viacom’s audiences while further cementing BET’s position as the leading home for bold, relevant African-American programming and scripted content.”

Perry, whose work has aired extensively on BET, cited Viacom’s vast reach and inroads with his target audience as motivation behind signing on with the company. “Viacom has a rich tradition of reaching my audience through their TV, film and digital platforms and I am excited to partner with them,” he said. “I am eager to have one home where I can leverage all of their assets to tell my stories to an even wider audience.”

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TRANSFORM-ing Detroit

by Chanel Cathey, Viacom

 Allegra Clegg

More businesses, artists, activists and entrepreneurs are focusing on Detroit as a hotbed for innovation and inspiration. In 2010, Paramount Pictures filmed Transformers: Dark of the Moon in Detroit and this year marked the production return of the 4th installment of the franchise, Transformers: Age of Extinction. Filming in the Motor City brings a pleasant boost to the economy, and last week the franchise also lifted the spirits of hundreds of young people at Durfee Elementary-Middle School, when throngs of excited students welcomed Transformer co-producer and Hollywood all-star Allegra Clegg to their school.

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Viacom Salutes Veterans

by Chanel Cathey, Viacom

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Across the country, from Paramount Pictures’ studio lot to Viacom’s headquarters in Times Square, Viacom employees are commemorating Veteran’s Day and thanking those who sacrifice to serve and protect. Viacom employees were busy packing  goody bags for the troops in lower Manhattan, throwing a celebrity studded Veteran’s breakfast at Paramount and Spike’s Hire A Veteran initiative rang the NASDAQ opening  bell in Times Square.

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