Viacom Media Networks
© 2008-2011 Viacom Inc. All Rights Reserved.
Profile
Viacom is the world’s fourth-largest media conglomerate and owns the prestigious Paramount Pictures, MTV, and BET Networks.
Executives
Philippe Dauman: President and Chief Executive Officer
Thomas E. Dooley: Chief Operating Officer
Robert Bakish: President and Chief Executive Officer, Viacom International Media James Barge: EVP, Chief Financial Officer
James Bombassei: Senior Vice President, Investor Relations
Wade Davis: Executive Vice President, Strategy & Corporate Development
Carl D. Folta: Executive Vice President, Corporate Communications
Michael D. Fricklas: Executive Vice President, General Counsel and Secretary
Timeline
June 4, 1971: Viacom becomes a spin-off from CBS & is established as a public company.
1983: Viacom & Warner Communications Inc. become a joint venture.
1985: Viacom acquires 66% of MTV Networks.
1986: The remaining interest of MTV is purchased for $185,000.
1987: MTV expands internationally for MTV Europe. National Amusements Inc. acquires 83% of Viacom.
1994: Viacom and Paramount Communications Inc. Merge for $9.9 Billion.
1996: MTV launches MTV2. Nick at Nite launches TV Land.
2000: Viacom & CBS merge for $39.8 Billion.
2001: BET Holdings is acquired for $3 Billion.
2005: A new Viacom Inc. changes its name upon separation to CBS Corporation & after trading on the New York Stock Exchange.
2006: Paramount Pictures acquires DreamWorks LLC.
2008: Form EPIX, an online video on-demand site, a joint venture with MGM & Lionsgate.
2010: MTV Networks & Warner Music Group form a partnership.
2011: Viacom forms Viacom International Media Networks.
Holdings
BET Networks ATOM AddictingGames CMT Comedy Central GameTrailers Logo MTV MTV2 mtvU Tr3S NeoPets Nickelodeon - Nick Jr. Noggin Nick at Nite ParentsConnect Scratch ShockWave Spike TeenNick TV Land VH1 VH1 Classic Paramount Pictures Corp. Paramount Pictures Paramount Vintage MTV Films Nickelodeon Movies Home Entertainment Viacom International Media Networks
Current News
Viacom VS Youtube
Huge Battle! Which side is right?
In 2007, Viacom sued YouTube for $1.65 billion over “160,000 unauthorized clips of Viacom’s Entertainment Programming” (Broache). It was over-ruled in 2010 and although YouTube won the case, they still had to agree to take down all the copy-right content and strengthen its video-processing software. This case was deemed the most significant legal challenge over intellectual property rights to YouTube. Now Happening: This year, there will be a “Second Circuit” to the lawsuit due to Viacom having called for an appeal about the first ruling. The US Court of Appeal will provide a new jury that will be able to conclude if YouTube had knowledge of pirated content (NY Times). This might impact the future of the Digital Millennium Copyright Act (DMCA), as it might be amended (NY Times).
Paramount Status
According to the Paramount Pictures website, 2008 was the best year box-office wise for Viacom’s film industry. They released seven $100 million films in one year and grossed over $3.7 billion. Below were the celebrated films of the year:
IRON MAN
KUNG FU PANDA
TROPIC THUNDER
INDIANA JONES & THE KINGDOM OF THE CRYSTAL SKULL
THE CURIOUS CASE OF BENJAMIN BUTTON
EAGLE EYE
MADAGASCAR: ESCAPE 2 AFRICA
KUNG FU PANDA
Viacom on Internet Piracy
In 2011, to combat online piracy, Viacom released a six-minute video propaganda on its website having multiple employees explain how piracy affects hard-working employee jobs. They urge viewers to take action by signing bills such as the Stop Online Piracy Act (SOPA). View the video here.
Viacom Finances Report 1
Viacom reports earnings for First Quarter 2012 and it is found that revenues have increased by 3% and operating incomes increased 7% (NY Times).
Release of Titanic 3-D
Titanic was first released in 1997
Titanic, one of the world’s most endeared films, is announced to be released again in in 3-D theaters for audiences world-wide on April 4, 2012. Will people go to watch this 1997 record-breaking box-office hit again? The answer is yes. It has grossed $208 million worldwide. In China the opening release amounted to $67 million. The 3-D film is expected to gross around $300 million for its lifetime.
2011 Movie Hits
Recent 2011 movies like Mission Impossible- Ghost Protocol and Paranormal Activity 3 have done well in the box office, allowing Paramount to keep stable earnings. Transformers: Dark Side of the Moon (2011) was Paramount’s first film in grossing $1 billion.
Nickelodeon Swamped
Nickelodeon Logo
On February 2, 2012 ratings for Nickelodeon were down which is surprising since the channel has been a leader within the children target area. The reason why they were so low could attain to: competition from Disney Channel, Netflix or maybe even a change “in the audience sample that the Nielson Company uses to supply ratings (Stelter).”
Viacom’s New NYC Building
Shot of the Future Viacom Building
Viacom will be adding to its presence in NYC. They signed a lease on April 25, 2012 for a 54-story building on 1515 Broadway, which will let them have control of the whole building and put a sign on it. The whole building is about 1.6 million square feet and is a big move considering Downtown Manhattan is “undisputed media capital of the world and a vibrant source of inspiration for Viacom’s innovative and creative employees” (Bagli).
Viacom Vs. Harmonix Systems Inc.
Controversy: Should Viacom have to pay Harmonix?
Viacom was forced to pay the Harmonix Music Systems Inc., creators of games like RockBand and GuitarHero, $379 million. This resulted in a 65% loss of income for the past quarter; this claim was made on Feb. 1, 2012. Backstory: With the increased popularity and sales of GuitarHero, Viacom sought out to buy Harmonix in 2006. But when sales dropped, and it was causing a hit in revenue since it cost more than expected for the plastic guitar parts, Viacom sold the company back to the founders. This led to a spiral of events, which began with founders of Harmonix suing Viacom asking for extra payments that Viacom had not made (phys.org).
Viacom New Financial Report
The Harmonix check has caused Viacom a drop in earnings and a update to this First Quarter 2012 from $610 million last year to $212 million this year (due to needing to pay Harmonix). That’s 38 cents per share this year and $1 per share last year.
Paramount Cartoon Unit
Paramount will be releasing a cartoon unit to step forward in its competition with DreamWorks. They hope to release an animated movie every year starting in 2014 and these will cost around 1 million per movie. However, the company already has established an in-house production unit to start on these projects (NY Times).
Viacom Study on Tablets
A study published on April 21, 2012 by Viacom corp. shows that 15% of consumers are watching full-length TV shows on their Tablet. This is a big percentage and if it keeps increasing, this may lead to a change in the industry.
MTV Upcoming Artists
MTV is one of the most influential companies in the music, tv, and even film industries. Just released, their upcoming artists for 2012 include: Connor Maynard, King Charles, and Lana del Rey.
Amazon & Viacom Partner to Stream Instant Video
On February 8, 2012 it was announced that Amazon would expand their Instant Streaming Video content for their Amazon Prime members. This new partnership will add 2,000 titles from the following Viacom program channels: TV Land, Spike, VH1, BET, CMT and Logo.
Sources
4. http://www.nytimes.com/2011/07/07/business/media/paramount-starts-animation-unit.html?ref=viacominc
5. http://www.viacom.com/news/pages/default.aspx#1
6. http://www.viacom.com/news/Pages/anti-piracy.html
7. http://www.hollywoodreporter.com/news/titanic-box-office-james-cameron-312497
8. http://news.cnet.com/Viacom-sues-Google-over-YouTube-clips/2100-1030_3-6166668.html?tag=nw.10
9. http://www.techdirt.com/articles/20111115/01372816773/viacom-pass-sopa-spongebob-dies.shtml
10.http://phys.org/news/2012-02-viacom-1q-shredded-band.html