By Pat Flanagan

 

PARAMOUNT PICTURES
5555 Melrose Ave, Los Angeles, CA
www.paramount.com

• KEY EXECUTIVES

 

Brad Grey is the Chairman and Chief Executive Officer at Paramount Pictures since 2005. Grey has won Academy Awards as producer for many films such as The Departed and Charlie and the Chocolate Factory. Under Grey’s tenure Paramount released some of their highest grossing films of all time such as  Transformers, Indiana Jones, and the Paranormal Activity franchises. [1]

 

 

Rob Moore has been the Vice Chairman since 2008. He previously worked at the Walt Disney Company for 13 years as Senior Financial Analyst and was later appointed Executive Vice President of Finance and Operations. [2]

 

 

Frederick Huntsberry has been the Chief Operating Officer since 2006. His previous work includes different positions in the Finance and Business Development at Universal Studios. He was the President of NBC Universal Television Distribution. [3]

 

Adam Goodman is the President of Paramount Film Group since June 2009. He previously served as President of Production. He also was the President of Production at Dreamworks Studio. Some of his work that he is credited for includes Flight, Super 8, and True Grit. After the success with the Paranormal Activity franchise Goodman created Paramount’s micro-budget division called Insurge Pictures which distributed successful films like Justin Beiber: Never Say Never, Jackass 3D and Katy Perry: Part Of Me. [4]

• BREIF HISTORY

In 1912 Adolph Zukor founded the Famous Players Film Company that would later be called Paramount Pictures Inc. Paramount is the is the longest functioning and only major studio that remains in Hollywood. With remarkable talent and executives Paramount was a leader in the entertainment industry from very early on. The company won their first Academy Award in 1927 for Best Picture, just one year after moving to their present studio lot. They pride themselves with the highest grossing movie of all time, Titanic. In 2011 Paramount broke a record in the film industry with six consecutive films bringing each bringing in a revenue over $100 million dollars at the box office. Last year marked Paramount’s 100^th year in the entertainment industry. Media conglomerate Viacom owns Paramount Pictures. [4][5]

• FINANCIALS

So far this year Paramount Pictures released 7 movies, with a $810 million dollar yearly gross. It is ranked number 6 behind Warner Bros, Universal, Buena Vista, Sony/Columbia, and 20^th Century Fox. As of November 2013, Paramount has a 8.9% market share, already surpassing 2012’s results when Paramount was ranked number 7 with a 8.4% market share, a gross difference of $106 million dollars. After several quarters of declining revenue, Paramount Pictures had the best quarter yet with an 11% increase in revenue. Star Trek Into Darkness is Paramount’s most successful movie of 2013, followed by World War Z and G.I. Joe: Retaliation. With the anticipation of Anchorman 2: The Legend Continues, coming out December 20^th, it will be interesting to see if Paramount can climb the ranks and place top 5. [6][7][8][9]

• RECENT NEWS

Jackass Presents: Bad Grandpa was the only film Paramount released this fall. It has brought in $90 million from a $15 million dollar budget. The lighthearted comedy impressed moviegoers, surpassing popular films such as Gravity and Captain Phillips in box office results.

Paramount tried something different this Fall. From August 30^th-September 5^th Paramount combined Star Trek Into Darkness and World War Z into a double feature where moviegoers would be able to see these two films for the price of one in select AMC theaters. This is the first time a studio has done this. [10] [11]

Anchorman 2: The Legend Continues is Paramount’s most anticipated movie of 2013 will be released on December 20th. Paramount is coming out with very classy and creative marketing and promotional ideas for this upcoming film. [12]

For instance, Paramount Pictures is teaming up with Dodge Brand in a humorous promotion contest for Anchorman 2. Fans will be able to win an all-new 2014 Dodge Durango by going to funnyordie.com to play “Hands on Ron Burgundy”. This contest tests fan’s endurance and perseverance to see how many times they can touch Ron Burgundy. The fan who lasts the longest in one session wins a new car with about a hundred additional prizes for those who place close. [13] [14]

Also, Paramount is allowing fans to see Anchorman 2 two days before the December 20th release date. They announced that special “supertickets” will be available on November 26th. Paramount is expanding on their promotional idea done with World War Z’s “megaticket” that viewers bought for $50 to see the film 2 days before national release, available in 5 U.S. cities. [15]

• Looking at the Future

Paramount is scheduled to release Noah in March 2014, about the biblical story of Noah and his arc. Hollywood has been on a popular biblical trend as seen the History Channel’s television series The Bible and other upcoming movies like Ridley Scott’s Exodus. Noah is directed by Darren Aronofsky and includes an all-star cast such as Russell Crowe, Emma Watson, Jennifer Connelly and Anthony Hopkins. [16]

On November 14 The Hollywood Reporter broke the news that Paramount Pictures is in development on a number of sequels that in Mission Impossible, World War Z, Star Trek and G.I.Joe. [17]

David Chase The Sopranos director, sold Paramount Pictures the script of Little Black Dress. Thumbnail: While working a potentially lethal investigation at a post-war job, she gets involved with a superstitious NYPD detective who helps bring her back from a personal precipice. This film is in the developmental stage. [18] [19]

Recently, Paramount has expressed disappointment regarding California’s tax incentives to bring film productions back to Hollywood. The Los Angeles Mayor promised to “storm” Sacramento to bring about a greater annual Film/TV Tax Credit program.  Paramounts Studio Group President, Randy Baumberger was quoted saying:

“virtually no feature films are shot in LA anymore. What producers need are commitment and consistency. What producers are looking for is to be able to plan out 3 or 4 years”. [20]

 

• Works Cited

[1] About Brad Grey

[2] About Rob Moore

[3] About Frederick Huntsberry

[4] History of Paramount Pictures

[5] Paramount marks 100 years 

[6] 2013 Studio Market Share

[7] Box Office results of all time

[8] WSJ reporting on Viacom’s success

[9] Paramount’s Financial Report

[10] About Jackass Presents: Bad Grandpa

[11] Bad Grandpa triumphs over Gravity

[12] Anchorman 2 anticipation 

[13] Dodge and Paramount team up

[14] Youtube video of contest

[15] Paramount tries double feature 

[16] Noah film to star big name cast

[17] Sequels announced 

[18] The Sopranos director gives script to Paramount

[19] IMDB on David Chase

[20] Paramount Blasts Cali’s “Incremental” Film/TV Tax Credit Program