By Sam Mackoff
Viacom, short for Video and Audio Communications, is a mass media company that produces content globally across television, movies, online and mobile platforms. Viacom’s media networks reach about 700 million global subscribers, making it one of the world’s largest media conglomerate . Viacom operates about 170 leading entertainment brands including MTV Networks, VH1, BET Networks, Comedy Central, CMT, SPIKE, Nickelodeon Networks, Paramount Pictures and more .
Paramount Pictures Corporation is a production and distribution studio for film. It is a subsidiary of Viacom. Paramount distributes content from DreamWorks Animation, Paramount Pictures, Paramount Vantage, Paramount Classics, Marvel Studios, MTV Films and Nickelodeon Movies . Paramount is ranked as the fourth highest grossing film distributor . Some of Paramount’s notable films are, “Transformers”, “Indiana Jones”, “Star Trek”, “Titanic”, and “Forrest Gump” .
Viacom is a publicly held. This year, Viacom did well financially with its media networks revenue, but did not do well financially in film entertainment. The media networks revenue had a $462 million increase to $9.7 billion by the end of 2013 . The film entertainment revenues had a $538 million decrease from the previous year to $4.3 billion by the end of 2013 . Viacom’s net earnings still increased 2% from 2012 to 2013, from $2.3 billion in 2012 to $2.4 billion in 2013 .
Viacom and Google Call a Truce
After seven years of battling in court, Viacom and Google have settled the copyright infringement lawsuit, in which neither company exchanged money to the other. Viacom filed a $1 billion lawsuit in 2007 against YouTube, which is owned by Google, stating that there were billions of dollars in damages for copyright infringement by uploading unauthorized clips from Viacom programming. After years of arguing, Viacom and YouTube released a settlement statement saying, “This settlement reflects the growing collaborative dialogue between our two companies on important opportunities, and we look forward to working more closely together” .
Viacom Teams Up with Tumblr
Viacom announced an exclusive partnership with the popular blogging website, Tumblr. The two companies together will offer co-branded campaigns and content for shows and events for Viacom’s networks through the 2014 Upfront Season. This partnership marks Viacom as the first television programmer to develop a marketing partnership with Tumblr. Viacom’s partnership with Tumblr creates a unique opportunity for Viacom to use this creative platform with its advertisers in order to reach a large audience because of its major social activity. On the consumer end, it allows users to view content in a fun and interactive way .
The Wolf of Wall Street
The dark comedy, “The Wolf of Wall Street”, directed by Martin Scorsese and starring Leonardo DiCaprio, is based on the true story of Jordan Belfort’s life. The film takes you through the New York stockbroker’s journey from rags to riches, starting in penny stocks to running an extremely successful firm. This film has had major success worldwide. The high admiration has earned the film a Golden Globe and five Academy Award nominations . Surpassing all Christmas sales in theaters on its holiday release date , the film made $10 million on its opening day and over $18 million on its opening weekend . This film has accumulated grosses of $116.9 million domestically and $272.7 million in the foreign market .
The recent release of the biblical inspired film, “Noah”, directed by Darren Aronofsky and starring Russell Crowe, is inspired by the biblical story of Noah’s Ark. Noah is chosen by God to take on a mission to rescue the innocent before an apocalyptic flood hits the world. This film ranked #1 at the box office on its opening weekend on March 28th . “Noah” brought in a diverse audience including men and women of all ages that were Christian, Catholic Latino and African American . “Noah” has faced a sizable decline with a 68% drop since its release . Predictions say that this number will increase during the weekend of Easter because of the faith based audience . “Noah” has made $93.3 million domestically and $197.4 million in the foreign market .
Nickelodeon Introduces a New Awards Show
Candid Camera Returns After 66 Years
TV Land announced that it is bringing back a new version of the 1940’s show, Candid Camera. Candid Camera is a show that captures the reactions of people in unusual situations using hidden cameras. Peter Funt, the son of the host and creator of the original show, will be co-producing Candid Camera. There are 10 new episodes that are set to air this summer .
Transformers To Release Fourth Film
The fourth Transformers film called, “Transformers: Age of Extinction”, is hitting the theater this summer. This film was directed by Michael Bay and has notable actors staring in it such as Mark Wahlberg, Nicola Peltz, and Jack Reynor . This popular franchise has earned $2.6 billion in the global box office. The bar for this film was set very high after the last film, “Transformers: Dark of the Moon”, earning $1.1 billion globally. This film is set to release June 27th .
Teenage Mutant Ninja Turtles Recreated in a Live Action Film
“Teenage Mutant Ninja Turtles” is returning to the screen in a live action film this summer. Producer Michael Bay and director Jonathan Liesmasman, are working together to recreate the story that was originally based off of a comic series . Rob Moore, vice chairman of Paramount said, “Michael Bay is committed to making sure young audiences have a reason to flock back to your theaters” . This action comedy film is about four trained ninja turtles that work together to fight off evil. This summer blockbuster, starring Megan Fox, Noel Fisher, Will Arnet, Jeremy Howard and Alan Ritchso, is set to release August 8th .
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