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.

Viacom Earns 6 GLAAD Nominations For Out and Proud Storytelling On CMT, Nickelodeon, Comedy Central, VH1 and Logo

Inclusive and diverse storytelling are deeply rooted in Viacom’s social ethos, and its shows and movies are frequent contenders at the GLAAD Media Awards, which honor accurate and inclusive representations of LGBT people and issues. This year is no exception—Viacom received six GLAAD nominations for programming on CMT, Nickelodeon, VH1, Comedy Central and logotv.com.

Read more about our 2017 nominations.

Outstanding Drama Series

Nashville – CMT

CMT earned its first GLAAD nomination ever, for Nashville’s story about LGBT characters working in a stereotypically “straight” industry.

Frank Tanki, general manager of CMT and TV Land, says the network’s GLAAD nomination is not only great recognition for Nashville, but also serves as a benchmark for the brand’s overall strategy. “It signals that our modern country strategy is taking root and being noticed in all the right ways,” Tanki explained.

“Creatively, Nashville continues to trail blaze. Last season, we welcomed CMT’s and Nashville’s first-ever transgender character and actress, and also added a new LGBT character as a series regular. On the integrated front, we partnered with Budweiser for a multi-episode arc in which openly-gay singer, Will Lexington, becomes the face of the brand and is spotlighted in a commercial built around the theme of love and acceptance. The integration was well-received by both the LGBT and ad communities, with industry powerhouse, Adweek, proclaiming the integration as ‘ground-breaking.’”

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RuPaul Wins Best Reality TV Host Critics’ Choice Award for VH1’s Drag Race

After the 23rd annual Critics’ Choice Awards, RuPaul Charles can add Best Reality TV Host to his ever-growing trophy collection.

RuPaul’s Drag Race – The VH1 show that he hosts – was also nominated for Best Reality Competition Series. Since moving to VH1 from sister network Logo last year, Drag Race has amassed an even larger and more diverse fan base—driving it from cult LGBT favorite to mainstream darling.

Viacom’s other Critics’ Choice nominees included TV Land’s Younger (Sutton Foster, Best Actress in a Comedy Series) and MTV’s Teen Mom (Best Unstructured Reality Series).

Check out this video by Viacom Catalyst:

The Critics’ Choice win follows a string of recent successes for RuPaul. In September, he won his second Emmy at the Creative Arts Emmy Awards—for top host, with Drag Race earning an additional two Emmys for its Oh. My. Gaga. episode.

Watch the award-winning episode, Oh. My. Gaga:

The Emmys were for Outstanding Costumes for Variety, Nonfiction or Reality Programming; and Outstanding Picture Editing for a Structured or Competition Reality Program.

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Tyra Banks Returns to VH1’s America’s Next Top Model on Tuesday, January 9

On Tuesday, Jan. 9,  America’s Next Top Model returns to VH1 for its 24th cycle with a promise: to go next-level fierce, or go home.

With the return of former host and all-around boss Tyra Banks, it looks as if the seminal modelling competition will hold true to its promise. The legendary “Queen of the Smize” has a few surprises up her sequined-sleeve, and has already drummed up excitement for the new season by removing the show’s 27-year-old age limit.

In a video posted to her personal Twitter account, Banks explained why contestants of all ages are welcome to werk it.

“There have been 23 cycles of America’s Next Top Model, and every single cycle we say you have to be 27 years old or younger,” said Banks. “You know what I hear all the time? ‘Tyra, come on. Why have an age limit?’ So you know what? I’m taking that age limit off.”

We can also expect guest appearances by RuPaul’s Drag Race stars Valentina, Katya and Manila and a special episode involving “noted fashion photographer” Nigel Barker.

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The Real 305 Comes to VH1 – Welcome to Love & Hip Hop: Miami

by Stuart Winchester, Viacom

Tunneling into the vibrant, swaggering hip-hop scenes of New York, Hollywood and Atlanta, VH1’s Love & Hip Hop franchise has planted its flag atop the ratings, consistently capturing the top three slots in unscripted cable.

Now, the surging network will add a fourth property to the franchise, as the palm tree- and beach-laced music and party scene blasts up from Miami to join its amped-up cousins.

Earlier today, VH1 pushed out the magnificent 5:49 super-trailer embedded above, introducing fans to the 24-person ensemble cast.

“When ya’ll talk about Miami, ya’ll talk about the sands and the yachts, and you party at those clubs on that side of town, but I’m here to tell you, ya’ll don’t know a mother$%#*ing thing about Miami,” the self-proclaimed “Mayor of the 305” Trick Daddy warns in the lustrous opening montage of boats and skylines and bouncing clubs. “The real 305.”

Who else inhabits this unvarnished slice of South Florida? Rap mainstay Trina, Love & Hip Hop Atlanta veteran Gunplay, Latina striver Amara La Negra, producer Young Hollywood, and many more. Meet the full cast here.

 

Part of the cast of Love & Hip Hop: Miami.

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Viacom Scores Five 2018 Critics’ Choice Nominations

by Stuart Winchester, Viacom

Congratulations to Viacom’s TV Land, MTV, VH1 and Paramount Pictures, each of which scored at least one nomination for the 2018 Critics’ Choice Awards.

A Manhattan striver who shaves 15 years off her age to advance her career, a raw look at the often shaky lives of teenage mothers, the greatest drag spectacle on television, and a what-if world where humankind shrinks itself to spare the planet’s resources – here’s a closer look at the properties that earned Viacom five nominations:

Best Actress in a Comedy Series – Sutton Foster, Younger – TV Land

Best Unstructured Reality Series – Teen Mom – MTV

Best Reality Competition Series – RuPaul’s Drag Race – VH1

Best Reality Show Host – RuPaul, RuPaul’s Drag Race – VH1

Best Supporting Actress – Hong Chau, Downsizing – Paramount Pictures

The Critics’ Choice Awards will air Thursday, Jan. 11, 2018 on The CW Network.

Legends Return and Stars Unite as Viacom Nets Stuff the Content Pipeline

by Stuart Winchester, Viacom

It’s a time of great energy and invention at Viacom, with our networks announcing new shows, series extensions, and reboots weekly.

“Content is what Viacom is,” Viacom CEO Bob Bakish told CNBC’s Julia Boorstin last week. And this robust content pipeline underscores that point as ratings continue to creep up at core channels and fourth-quarter and full-year earnings map upticks in revenue and other key financial metrics.

The return of those crazy kids of Jersey legend, a beloved host helms an all-new concept, a fan-favorite franchise expands south, an unlikely onstage pairing produces a dazzling country-pop concert, a pair of season renewals drop, and a comedy legend is honored – here’s a look at previews for some our most anticipated programming, all of which MTV, VH1, CMT and Spike have released in just the past week:

MTV:

When Floribama Shore hit with the highest ratings of any network premiere in three years, it underscored fans’ hunger for the return of the Shore franchise. Perhaps foreseeing this enthusiasm, MTV queued up the return of the original series cast with a spot announcing Jersey Shore: Family Vacation during Floribama’s debut.

We don’t have many details or even a premiere date yet, but we know the important stuff: Deena, Pauly D, JWOWW, Vinny, Ronnie, Snooki and The Situation will all be back on our screens, together:

After headlining a pair of MTV classics in Rob & Big and Rob Dyrdek’s Fantasy Factory,  skateboarder and reality star Rob Dyrdek returns to the network headlining Amazingness. Human towers, a hands-free archer, stepladders balanced on teeth – check out what will be – in Dyrdek’s words – “the talent show like no other talent show in the world” beginning this Friday, Dec. 8.

VH1:

VH1 has a New Year’s present for its rabid base of Love & Hip Hop fans – the premiere of the latest complement to the hit shows set in New York, Atlanta and Hollywood: Love & Hip Hop: Miami. Here’s a first look at the series and its ensemble cast, featuring Trick Daddy, Trina, Gunplay and Amara La Negra, among others:

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BET, Comedy Central, Nickelodeon, Spike and VH1 Are Viacom’s NAACP Image Award Nominees

Tanya Davis contributed reporting.

We’re thrilled to report that Viacom’s brands have just been nominated for a total of 16 NAACP Image Awards across BET, Comedy Central, Nickelodeon, Spike and VH1. The awards honor outstanding achievements of people of color and those who promote social justice in the arts, and we couldn’t be more proud of our nominees — see the list below. Winners will be announced at a live ceremony on Martin Luther King Day (Monday, Jan. 15).

Congratulations to everyone involved for their fantastic work on these programs. Check out our nominated shows and specials and the respective award categories below.

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VH1’s Scared Famous Pits Ghouls and Ghosts Against Terrifying Reality Stars

On VH1’s Scared Famous, 10 TV personalities from VH1 hit shows including RuPaul’s Drag Race, Mob Wives, Love & Hip Hop, America’s Next Top Model, Black Ink Crew and Brunch with Tiffany will go head-to-head in a series of nightmarish challenges that honor classic horror flicks like Scream and It.

Reality TV can get scary, but can these stars handle ghastly challenges involving snakes, spiders and dirty toilets?

The eerie competition features homicidal clowns, ghosts, zombies and an alien from the planet Glamtron: aka RuPaul’s Drag Race alum Alaska 5000, who, in a clip from the trailer, throws some shade at an unnamed cast member: “She might be a drama queen, but she’s no match for a drag queen.”

The stars will live in a ghoulish, abandoned estate in Savannah, Georgia (one of America’s so-called most-haunted cities), forming alliances and swiftly breaking them. The celeb who “survives” will win a  $10,000 donation to their favorite charity, as well as some serious props for being the bravest star in Hollywood.

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MTV’s Reality Show 90’s House Will Be All That and a Bag of Chips

As millennials, we like to think we know the 90s. If playing Pokémon on a Gameboy Color, taking trips to Blockbuster to rent VHS tapes and listening to the Spice Girls are among your fondest childhood memories, chances are you grew up to call yourself a “90s kid.”

We’re nostalgic for this time—and not just because it was our childhood. As it turns out, the 90s was a fly time to be alive, no matter how old you were.

The New York Times columnist Kurt Andersen (who is not a millennial) posits that this is due to political, technological and socio-economical advances during the last ten years of the 20th century in an op-ed called “The Best Decade Ever? The 1990s, Obviously.”

Our awareness of current events as adults makes this 90s nostalgia even more acute. Now we know that the world back then truly was, by our standards, pretty chill.

If given the chance to go back in time and experience this glorious epoch of tattoo chokers and Legos with the knowledge we have as adults, how would we fare? If a millennial lives in the ultimate 90s fantasy world but can’t share the experience via Snapchat, did it even happen? Ugh, as if!

MTV’s new reality-competition show 90’s House lets us witness what our lives would be like in the 90s, without time travel.

Here’s the 411:

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