Paramount Pictures

Posted on September 30, 2015 by Patrick Munnia

Source: www.paramountguilds.com (1)

5555 Melrose Ave.,Ste. 121 Hollywood, CA 90038
Phone: (323)956-5000
Website: www.paramount.com

Overview

Paramount Pictures is a feature film production and distribution company.

Executives

Brad Grey – Chief Executive Officer Grey is responsible for all aspects of feature film development. (2)

Rob Moore – Vice Chairman: Worldwide Marketing, Distribution, Home Entertainment, Digital, Interactive, Television, Licensing, and Business Affairs Divisions. (4)

Frederick Huntsberry – Chief Operating Officer: Worldwide Strategic Planning and Operations. (3)

: Marc Evans – President of Motion Pictures Production (5)

Amy Powell – President of Paramount Television : Financing and Developing Television Content for Broadcast, Premium Cable, Cable and Online Audience. (6)

The Rise to Film Prominence

More than a century ago, in 1912, Adolph Zukor, Jesse L. Lasky and Cecil B. DeMill founded Paramount. (7) Paramount contributed to the Golden Age of Cinema in the 1950s with movies like A Place in the Sun in 1951 and The Ten Commandments in 1956. (8) The company birthed The Godfather series in the 1970s to further their prominence in Hollywood. (9) Paramount continued to churn out money-making films through the 1980s and 1990s including Top Gun, but also produced films which enjoyed critical-acclaim at the turn of the century, such as No Country for Old Men. (10) Paramount shattered industry records in 2011 by releasing “six consecutive movies grossing more than $100 million dollars at the domestic box office”. (11) Whether it be comedy, drama, action or suspense, Paramount has been highly regarded as a top player in the industry, but lately struggles to stay ahead of its competitors.

2015 Q3 and Beyond : Recent Financials

Paramount has finished another successful third quarter with a total gross of 585.5 Billion. As of November 22^nd, Paramount holding 6.2% of the market share. However, the company’s revenues have declined from 19.2% of the market share in 2011. (12)

Paramount has stayed busy ending the summer season moving into the fall. Terminator: Genisys opened in July and closed in September. The movie grossed $440 million worldwide on a production budget of $155 million. The DVD was released on Blu-ray November 10^th, 2015. (13)

Mission: Impossible – Rouge Nation was another summer smash-hit, which grossed a huge $682 million worldwide, and is available on Blu-ray December 15^th. (14)

Yet, Paramount remains successful not only courtesy of summer blockbusters, but also thanks to cheaper film series. Paranormal Activity: The Ghost Dimension opening just in time for Halloween delivers timely scares to its established fan base. With a production budget of only $10 million and a $77 million worldwide gross, the movie proved to be mildly successful venture. (15)

On Halloween, Paramount released yet another timely, and audience specific movie. Scouts Guide to the Zombie Apocalypse, is a wacky but funny horror-comedy movie, aimed at a younger audience. The movie failed to make its production budget of $15 million by only grossing $14 million worldwide. (16)

All of these movies besides Mission Impossible, only made the production budget back thanks to large grosses from international markets. This displays Paramount’s need to cater to not only a domestic U.S. market but also an international one.

2015 Q4: Marching into the Holiday Season

After a slow start in the fourth quarter with Scouts Guide to the Zombie Apocalypse and Paranormal Activity: The Ghost Dimension, Paramount remains optimistic with a few key theatrical releases.

The Big Short will be released December 11^th, 2015 and boasts huge star-power. Christian Bale, Steve Carell, Ryan Gosling, and Brad Pitt team up in a drama based on true events of the international banking collapse of 2008. (17)

On a lighter note, Paramount is re-releasing one of their classic romantic-comedies, Roman Holiday , staring Gregory Peck and Audrey Hepburn, this December. (18)

Finally, Paramount, once again appeals to star-power in Daddy’s Home, staring Will Farrell and Mark Walberg. This comedy pits stepdad vs. biological dad against one another. (19)

Steady March Slows: Reports Viacom

Paramount has been pulling in less and less revenue since a spike in 2011 of a huge $1,736 million. This displays that Paramount has clearly fell in prominence.

Source: Box Office Mojo (20)

Viacom, Paramount’s parent company, continues to support the film company despite, “disappointing revenue”. The studios sales in the box office fell from 20 percent since Q4 of 2014. Despite the recent dip in revenues, Viacom CEO Philippe Dauman, believes that the industry is cyclical and that Paramount is ready to make a big comeback in 2016. (21)

Source: The Wrap Philippe Dauman- Viacom CEO (22)

Paramount, among other tactics, has retained good relationships with talent such as Martin Scorsese and J.J. Abrams and intents to collaborate in the near future. (23)

2016: Looking Forward

In January 2016, Paramount plans to release The Secret Soldiers of Benghazi. (24) The action-drama looks promising, especially since movies in the genre, like American Sniper have done incredibly well in the past. This may be a step in the right direction for Paramount to make 2016 a more successful finical year than 2015.

Paramount also plans to release Zoolander 2, the sequel to the comedy about male modeling, Zoolander, starting Ben Stiller and Owen Wilson. (25)

Possible Reuniting of Scorsese and Monahan in Evel Knievel Film
- The writer director duo of The Departed, which was financial and critically successful, are being sought after by Paramount in hopes of producing a feature film about the fearless Evel Knievel. (26) The possibility of the pair reuniting has excited Paramount, and the studio has continued to negotiate. The movie has all the ingredients for becoming wildly successful.

Source: Deadline Evel Knievel (27)

Paramount Adapts to Changing Times

Paramount Embraces World of Streaming
- Paramount has long been known for producing high-quality, critically acclaimed movies as well as blockbuster hits. In a media industry facing loss of revenues from piracy and streaming, Paramount has found a way to embrace current technological advancements. Starting in October of 2015, Paramount has made available the, “Paramount Vault”. (28) The studio has made available select feature films for free. Paramount is now showcasing all of their film successes to a young, technological savvy audience, which only further builds their reputation.

Increased Distribution to TVOD
- Paramount signs licensing deal to expand offerings on TVOD, in foreign markets, with Youku Tudou Inc. (29) In an age of increasingly prominent OTT services, film distribution companies often search for an outlet exhibit. Youku has struck a deal with paramount agreeing to showcase classic titles such as Transformers, Shrek, and Star Trek. (30) Paramount has also made a deal with UltraFlix, which would allow for UltraFlix subscribers to view classics like Forrest Gump, Saving Privet Ryan, and The Godfather. (31) Paramount continues to reach large diverse audience even in increasingly difficult times.

Source: http://www.youku.com/
(33)

Source: https://www.ultraflix.com/ (source)

Source: https://www.ultraflix.com/
(35)

Changing Distribution Tactics
- Paramount has shortened the digital release of Scouts Guide to the Zombie Apocalypse. “Scouts” was a flop. By challenging the norms of digital release windows of feature films, Paramount aims to test shortened time of digital release. (32) The movie would be available for digital release two weeks after leaving the theaters. The deal forced the hand of exhibitors like Regal and AMC who refused to show the movie in their theaters, further contributing to its failure. (34) Paramount is pushing conventional limits, when movies flop in theaters, “arbitrarily keeping those movies out of circulation is just bogus,” said Megan Colligan, Paramount’s president of world-wide distribution.

Where does Paramount Stand?

Paramount is among the oldest, most successful, film studios in the United States, and have been raking in the money and academy awards since 1912. Though the studio has seen some successes in 2015, Paramount has fallen out of dominance they enjoyed in the mid-2000s. Paramount, recognizing the blip, has taken measures, such as key theatrical releases, the use of star-power and alternative distribution techniques, to hopefully make 2016 a more financially bountiful and critically acclaimed year.

Sources

(1) Inside the Studio. Paramount Studios Logo. Retrieved December 1st 2015.

(2) Inside the Studio. Paramount Studios Executives Brad Grey. Retrieved December 1st 2015.

(3) Inside the Studio. Paramount Studios Executives Rob Moore. Retrieved December 1st 2015.

(4) Inside the Studio. Paramount Studios Executives Fedrick Huntsberry. Retrieved December 1st 2015.

(5) Inside the Studio. Paramount Studios Executives Marc Evans . Retrieved December 1st 2015.

(6) Inside the Studio. Paramount Studios Executives Amy Powell. Retrieved December 1st 2015.

(7) Inside the Studio. The Paramount Story: Our Founding Fathers. Retrieved December 1st 2015.

(8) Inside the Studio. The Paramount Story: Mid-Century Renaissance. Retrieved December 1st 2015.

(9) Inside the Studio. The Paramount Story: The New Hollywood. Retrieved December 1st 2015.

(10) Inside the Studio. The Paramount Story: Critical & Commercial Success. Retrieved December 1st 2015.

(11) Inside the Studio. The Paramount Story: Record-Breaking Films. Retrieved December 1st 2015.

(12) Box Office Mojo. Studios: Paramount. Retrieved December 1st 2015.

(13) Box Office Mojo. Movies: Terminator 2015. Retrieved December 1st 2015.

(14) Box Office Mojo. Movies: MI5. Retrieved December 1st 2015.

(15) Box Office Mojo. Movies: Paranormal Activity: The Ghost Dimension. Retrieved December 1st 2015.

(16) Box Office Mojo. Movies: Scout’s Guide to the Zombie Apocalypse. Retrieved December 1st 2015.

(17) Paramount Pictures. Paramount Showcase: The Big Short. Retrieved December 1st 2015.

(18) Paramount Pictures. Paramount Showcase: Roman Holiday. Retrieved December 1st 2015.

(19) Paramount Pictures. Paramount Showcase: Daddy’s Home. Retrieved December 1st 2015.

(20) Box Office Mojo. Paramount Yearly Comparisons. Retrieved December 1st 2015.

(21) The Wrap. Viacom Defends Paramount’s Disappointing Revenue. Retrieved December 1st 2015.

(22) The Wrap. Phillipe Duaman. Retrieved December 1st 2015.

(23) Deadline. J.J. Abrams Extends Deal to July 2018. Retrieved December 1st 2015.

(24) Paramount Pictures. Paramount Showcase: Secret Soldiers of Benghazi. Retrieved December 1st 2015.

(25) Paramount Pictures. Paramount Showcase: Zoolander 2. Retrieved December 1st 2015.

(26) Deadline. Paramount Revs Evel Knievel Pic with “Departed” Scribe and Scorsese Retrieved December 1st 2015.

(27) Deadline. Evel Knievel. Retrieved December 1st 2015.

(28) Slashfilm. Paramount Vault. Retrieved December 1st 2015.

(29) Bloomberg Business. Paramount Pictures Key Developments. Retrieved December 1st 2015.

(30) Bloomberg Business. Paramount Pictures: New Licensing Deal. Retrieved December 1st 2015.

(31) Bloomberg Business. Paramount Pictures Expands Offerings. Retrieved December 1st 2015.

(32) Wall Street Journal. Paramount’s Plan Sees Scary Results. Retrieved December 1st 2015.

(33) Youku. Company Logo. Retrieved December 1st 2015.

(34) Wall Street Journal. Paramount’s Plan Sees Scary Results. Retrieved December 1st 2015.

(35) UltraFlix. Company Logo. Retrieved December 1st 2015.

(36) https://www.youtube.com/watch?v=Dx3ShEjUId0 Terminator 2015 Trailer. Retrieved December 1st 2015.

(37) https://www.youtube.com/watch?v=FjLSKvVDWyA Mission: Impossible Trailer. Retrieved December 1st 2015.

(38) https://www.youtube.com/watch?v=Y9Jy2T0uQ9Y Paranormal Activity Trailer. Retrieved December 1st 2015.

(39) https://www.youtube.com/watch?v=GKOfR29xu-4 Scout’s Guide to the Zombie Apocalypse Trailer. Retrieved December 1st 2015.

(40) https://www.youtube.com/watch?v=vgqG3ITMv1Q The Big Short Trailer. Retrieved December 1st 2015.

(41) https://www.youtube.com/watch?v=rQpN9LXrD-0 Roman Holiday Trailer. Retrieved December 1st 2015.

(42) https://www.youtube.com/watch?v=arhMMJx7tCU Daddy’s Home Trailer. Retrieved December 1st 2015.

(43) https://www.youtube.com/watch?v=jBFmlNfFwUw The Secret Soldiers of Benghazi Trailer. Retrieved December 1st 2015.

(44) https://www.youtube.com/watch?v=4CL4LNWHegk Zoolander 2 Trailer. Retrieved December 1st 2015.

(45) IMDB. Movies. Retrieved December 1st 2015.

Paramount Pictures

Posted on April 17, 2015 by htfergus

by ARACELI GUTIERREZ

[25] Paramount Pictures Logo

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

HISTORY

Paramount Pictures has been in show business for 103 years, making them one of America’s oldest motion picture companies. Adolph Zukor, Jesse L. Lasky and Cecil B. DeMille are credited as Paramount’s principal founding fathers. Today, this corporation is a subsidiary of Viacom, a global mass media firm. The company has produced classics like “Titanic”, which had a domestic gross of $658.6 million and worldwide gross of $2.18 billion [1].

Key Executives:

: [2] Brad Grey, Chairman & CEO

: [3] Rob Moore, Vice Chairman, Paramount Pictures

: [4] Frederick Huntsberry, Chief Operating Officer, Paramount Pictures

: [5] Marc Evans, President, Motion Picture Group at Paramount Pictures

: [6] Amy Powell, President, Paramount Television and Digital Entertainment

FINANCIALS

[7] “The SpongeBob Movie: Sponge Out of Water”

During this year’s first quarter, Paramount Pictures was ranked 5th for top grossing production companies, with a total gross of $274.6 million, which puts them in control of 9.8% of the current market share [8]. They hold an average gross of $39.2 million per release over the course of its 7 releases so far in 2015 [9][10]. Its second-highest grossing release, “Selma”, was a contender at the Academy Awards earlier this year. The movie made $50.8 million domestic. So far, “The SpongeBob Movie: Sponge Out of Water” is their biggest hit, with a domestic total of $161.3 million, more than double of its $74 million production budget. With a small production budget of $12 million, “Project Almanac” also did well with a $22.3 million domestic total.

[26] TubiTV

Paramount Pictures has seven future releases, one of them being animation, two action, and four of the horror/thriller genre [11]. Also, Tubi TV, a free but ad-supported streaming service, and Paramount Pictures joined a licensing agreement to bring more than 50 classic feature films from the studio’s library to the company’s video apps [12]. Some films featured on Tubi TV include fan-favorites such as “Top Gun”, “Basic Instinct”, “Star Trek: The Final Frontier”, and other recent releases from the past two years.

Their parent company, Viacom Inc., underwent some restructuring in March, which included cutting jobs, abandoning some acquired titles and reorganizing three of its domestic network groups into two new organizations [13]. Paramount Pictures took a related pre-tax charge of about $785 million by the end of the quarter (March 31).

MARCH MADNESS: NEW CHANGES

March was a busy month for Paramount Pictures.

On March 16, Paramount Pictures announced Marc Evans as the new president of Paramount’s Motion Picture Group to replace Adam Goodman, who was let go in early March [14]. Goodman had a year left on his contract. As a part of his exit package, Goodman was offered a production deal with Paramount. Evans has been a part of the Paramount family for 12 years now and recently served as president of production since 2010. Evans is expected to increase the studio’s output of feature film releases.

Paramount Pictures has a reputation for not making many movies. In recent years, the studio has gone months between major releases. For example, this year’s release calendar shows that there are five static months that separate the opening of the studio’s most recent film, “Hot Tub Time Machine 2,” a co-production with Metro-Goldwyn-Mayer, and its next opener, “Mission: Impossible 5,” which debuts on July 31 [15]. “Hot Tub Time Machine 2” received bad reviews and didn’t reach its production budget, considering that its domestic gross made only $12.3 million out of the $14 million budget [16].

Paramount, with a new switch up in its presidency, plans to change this by eventually raising the number of movies it runs annually from its current eight to 10-14 live-action titles plus an additional animated release. The studio seeks to maintain profit margins, which have plummeted party because of its discontinuation with Marvel Studios, DreamWorks Animation and Brad Pitt’s Plan B. Without these partnerships, Paramount lost a considerable deal of films [17]. Meanwhile, Paramount’s parent company, Viacom, issued major layoffs under pressure from ratings declines at its cable networks. Despite the studio’s stress over profitability, yearly profits have declined three years in a row, down 12% just last year [18]. This thin slate is also problematic because of the studio’s pending fixed overhead costs.

On March 17, the former president of worldwide home media distribution for Paramount Pictures, Dennis Maguire, stepped down [19]. Maguire’s departure was a result of the studio’s cut of 30-40 jobs across all departments as part of Viacom’s restructuring initiative. The Viacom Inc. unit named veteran executive Bob Buchi as the new replacement for Maguire in early April [20]. Buchi has a track record that speaks for itself. He has found great success in theatrical releases, acquisitions, family and television product. Also, Buchi was responsible for the strategic product marketing and management of the “Transformers,” “Star Trek,” “SpongeBob SquarePants” and “Paranormal Activity” franchises.

[28] Insurge Pictures

On March 23, Paramount Pictures dismantled their microbudget film branch Insurge Pictures. No longer a separate division, Insurge will still keep its name for use as a label on specific genres [21]. When launched in 2010, Amy Powell was named president of Insurge Pictures. Powell will now be relocated to focus on her TV and digital responsibilities as president of Paramount TV and Digital Entertainment. The other executives at Insurge Pictures will be integrated under Marc Evan’s film team.

The exec suite changes established in March will have a strong impact for months to follow; similarly in April.

On April 15, Elizabeth Raposo and Geoff Stier were promoted to be co-presidents of production [22]. Paramount is elevating Raposo from senior vice president to executive vice president. Stier already holds that title. These new positions put them on the same level as Peter Kang, who’s also executive vice president of production. Raposo has been commander on both the latest Mission: Impossible and Star Trek sequels. Again, these new promotions were made in effort of bringing forth a new strategy to bolster Paramount’s lineup.

PROJECTIONS FOR PARAMOUNT

[29] “Paramount Needs to Fatten Up Skimpy Film Slate” by Eddie Guy

With the new restructuring at Paramount, it is clear that they intend to make a strong comeback. With the dismissal of their last production chief Adam Goodman, they are now confiding in Marc Evans to increase their annual film slate. There is a search for new franchises, now that former money-bringing ones like “Star Trek” and “Transformers” are beginning to fade.

Brad Grey has also shown strong interest in bolstering the animation pipeline and restoring Paramount’s television initiatives [23]. Although these are their main focuses, Paramount faces a credibility problem to overcome, especially with their constant switchups in its executive board.

In the past, Grey has announced ambitious plans for Paramount’s annual slate, and has appointed well-qualified executives, with little accomplishments done by the end of their period at Paramount.

At this time, a studio resurgence is suitable since Wall Street suggests several corporate scenarios that may unravel near the “end of the Sumner Redstone era” [24]. According to some insiders, Redstone’s deep-seated personal ‘consiglieris’ (counselors, advisors) will ensure a smooth transition, although there are still corporate rivalries within the empire.

SOURCES

[1] Boxofficemojo.com,. (2015). Paramount All Time Box Office Results. Retrieved 17 April 2015

[2] Pener, D. (2015). Paramount Pictures’ Brad Grey Joins LACMA as Trustee (Exclusive). The Hollywood Reporter. Retrieved 17 April 2015

[3] Zimbio,. (2015). Rob Moore in Stars at the ‘Next Gen’ 20th Anniversary Gala. Retrieved 17 April 2015

[4] Zimbio,. (2015). Rob Moore in Stars at the ‘Next Gen’ 20th Anniversary Gala. Retrieved 17 April 2015

[5] Zimbio,. (2015). Marc Evans Photos: The Science & Technology Council Of AMPAS Presents “Visualize This”. Retrieved 17 April 2015

[6] Friedman, M., & Rose, R. (2015). 6 Ways to Be More Creative Every Day. Cosmopolitan. Retrieved 17 April 2015

[7] Collinson, G. (2015). New clip from The SpongeBob Movie: Sponge Out of Water. Flickering Myth. Retrieved 17 April 2015

[8] Boxofficemojo.com,. (2015). 2015 Market Share and Box Office Results by Movie Studio. Retrieved 17 April 2015

[9] Boxofficemojo.com,. (2015). 2015 Market Share and Box Office Results by Movie Studio. Retrieved 17 April 2015

[10] Boxofficemojo.com,. (2015). Paramount. Retrieved 17 April 2015

[11] Boxofficemojo.com,. (2015). Paramount Upcoming Releases. Retrieved 17 April 2015

[12] Digital Trends,. (2015). Paramount pictures licenses 50 more movies to free vod service Tubi TV. Retrieved 17 April 2015

[13] Nytimes.com,. (2015). Viacom to Cut Jobs, Abandon Titles, Reorganize Network Groups. Retrieved 17 April 2015

[14] Lang, B. (2015). Marc Evans Named Paramount Motion Picture Group President. Variety. Retrieved 17 April 2015

[15] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[16] Boxofficemojo.com,. (2015). Hot Tub Time Machine 2 (2015) – Box Office Mojo. Retrieved 17 April 2015

[17] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[18] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[19] Pedersen, E., Pedersen, E., & Pedersen, E. (2015). Dennis Maguire Leaving Top Job At Paramount Home Entertainment. Deadline. Retrieved 17 April 2015

[20] McNary, D. (2015). Paramount Ups Bob Buchi to Worldwide Home Media Distribution Head. Variety. Retrieved 17 April 2015

[21] Kroll, J. (2015). Paramount’s Insurge Gets Absorbed; Bad Robot’s ‘The Cellar’ Moves to Big Studio. Variety. Retrieved 17 April 2015

[22] Jr, M. (2015). Paramount Ups Elizabeth Raposo To Executive Vice President. Deadline. Retrieved 17 April 2015,

[23] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[24] Bart, P. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

[25] Filmbaza.net,. (2015). index_Galeria_logos P. Retrieved 17 April 2015

[26] YouTube,. (2015). Tubi TV Teaser. Retrieved 17 April 2015

[27] YouTube,. (2015). Hot Tub Time Machine 2 – Official Trailer 2. Retrieved 17 April 2015

[28] Bloody-disgusting.com,. (2015). Paramount Insurge Is Finally Making A Movie… –. Retrieved 17 April 2015

[29] Guy, E. (2015). Paramount Needs to Fatten Up Skimpy Film Slate. Variety. Retrieved 17 April 2015

Viacom

Posted on December 1, 2014 by htfergus

by Timothy Chew

[1] Viacom Logo

About Viacom

Viacom is an American mass media company that specialises in entertainment content in over 160 countries across television, film, mobile and online platforms. Viacom is the parent company to many of the world’s most elite entertainment brands including MTV Networks, Nickelodeon, VH1, BET Networks, Comedy Central, SPIKE, TV Land, CMT, Paramount Pictures and many more [2 ].

Reaching approximately 700 million global subscribers, Viacom’s media networks have become one of the largest media conglomerates in the world [3].

Television Networks

[4] Viacom’s Media Network Brands

Viacom is home to a wide variety of television networks and has successfully developed original entertainment content that has reached a diverse audience [4]. MTV is best known for producing the MTV Video Music Awards, Nickelodeon is one of the most influential television channels in children’s entertainment and Comedy Central is America’s number one comedy channel. Viacom has produced many popular television shows including MTV’s Awkward and Teen Wolf, Comedy Central’s The Daily Show, Nickelodeon’s SpongeBob SquarePants and many more [4].

Film

[5] Paramount Pictures Logo

Paramount Pictures Corporation is a film production and distribution studio that is also a subsidiary of Viacom. Paramount is the distributor for DreamWorks Animation, Marvel, MTV Films, Nickelodeon Movies, Paramount Pictures, Paramount Classics and Paramount Vantage [4]. In 2014, Paramount grossed $953.6 million, becoming the sixth highest grossing film studio in the box office [6]. Paramount has produced many major blockbusters films including “Titanic“, “Transformers“, “Forrest Gump“, “Shrek” and “Iron Man” [7].

Financials

Viacom has remained well positioned financially this year. In the fourth quarter of 2014, Viacom’s revenue has increased 9% from $3.6 billion to $3.9 billion [8]. Viacom’s Media Networks annual year-end revenue has rose significantly from $9.6 billion to 10.1 billion [8]. However, Viacom’s film entertainment’s suffered a decrease in annual year-end revenue dropping from $4.2 billion to $3.7 billion [8]. Viacom’s year-end operating income has rose to 5% to a record breaking $4.13 billion from $3.9 billion in 2013 [8].

Key Executives

[9] Philippe Dauman, President and Chief Executive Officer

[10] Thomas E. Dooley, Chief Operating Officer

[11] Wade Davis, Chief Financial Officer and Executive Vice President, Strategy & Corporate Development

Recent News

[12] Viacom Acquires Channel 5

Viacom Closes Acquisition of UK’s Channel 5

After announcing a deal on May 1st, Viacom has closed acquisition of British’s broadcaster Channel 5 for $725 million on September 10th [12]. This deal was made to expand Viacom’s investment in its entertainment content produced in the UK. In addition, Nickelodeon will be partnering with Channel 5’s pre-school program, Milkshake. Viacom and Channel 5 will collaborate to produce a new animated series called “Nella the Knight“, their first co-production which is under Viacom’s wing [12]. Viacom and Channel 5 will co-fund “Nella the Knight“, which will be produced in the UK. Channel 5 will also air episodes of SpongeBob SquarePants and Teenage Mutant Ninja Turtles [12]. Besides that, MTV UK and Channel 5 are partnering to commission a new series called 10,000 BC. In 10,000 BC, 20 participants leave the comforts of their modern life and travel back to the Stone Age. This 10 episode series is set to premiere on Channel 5 in 2015 [12].

[13] Viacom and Sony Partnership

Viacom and Sony Inks Internet Distribution Deal

Viacom announced a major programming deal with Sony to license live and on demand programming for at least 22 Viacom cable networks including Comedy Central, MTV, Nickelodeon, SPIKE, and VH1 for Sony’s cloud-based TV service [13]. This agreement marks Viacom’s first deal to provide its networks for an Internet based live TV and Video On Demand service. Sony’s new cloud-based TV service will integrate live TV content with a dynamic experience people are accustomed to look for form their network. This new service will provide access to hundreds of hours of Viacom programming to over 75 million Internet-enabled Sony devices in the U.S [14].

Releases

[15] Teenage Mutant Ninja Turtles, directed by Jonathan Liebasman

Teenage Mutant Ninja Turtles

 “Teenage Mutant Ninja Turtles” is an action comedy film that made tremendous success in the box office this summer. The film was produced by highly acclaimed “Transformers” producer Michael Bay and directed by Jonathan Liebasman. “Teenage Mutant Ninja Turtles” was a recreation of the original comic series. On its opening weekend, this summer blockbuster locked in a staggering $65 million [16]. Since its release, “Teenage Mutant Ninja Turtles” has made $191 million in the US and $286 million in the international market. This film surprisingly remained number 1 in the box office on its first two weeks of release [16].Unlike many films released this summer, this film managed to surpass its budget within 3 weeks of its release, proving to be a major success [16].

[17] Interstellar, directed by Christopher Nolan

Interstellar

“Interstellar” is a Sci-Fi thriller starring Matthew McConaughey and Anne Hathaway. The film is based on a team of explorers who travel to space on an adventure to search for a habitable planet that could potentially save the human race [17 . The film was director by Christopher Nolan. Unfortunately, “Interstellar” failed to reach its predicted $50 million on its opening weekend, and only made $47.5 million instead [18]. Although, “Interstellar” has not done quite as well domestically by only making $138 million since its premiere, it has been a major success in the foreign market making a whopping $331 million, surpassing its $165 million budget. Since its opening weekend, the film has made over $468 million worldwide proving to be a global success [19].

Upcoming Releases

[20] Eye Candy, MTV’s New Thriller

MTV Announces New Scripted Thriller

MTV announced a new scripted thriller series called “Eye Candy.” The new series is based on R.L Stine’s popular novel “Eye Candy.” The series is produced by Jason Blum and Catherine Hardwicke. “Eye Candy” revolves around tech genius, Lindy who is played by Victoria Justice [21]. Lindy begins online dating and suspects one of her strange suitors to be a potential serial killer. Lindy then partners with a team of hackers to solve these mysterious murders on the streets of New York. “Eye Candy” is an 10-episode, hour-long thriller that is set to premiere on January 12, 2015 [21].

Trailer [22].

Mission-Impossible-5-starring-Tome-Cruise

[23] Mission Impossible 5, directed by Christopher McQuarrie

Mission Impossible To Release Fifth Film

The fifth instalment of the Mission Impossible franchise is hitting theatres next winter. The film is directed by Christopher McQuarrie and written by Drew Pearce. “Mission Impossible 5” is produced by Paramount and J.J Abrams’ Production Company, Bad Robot. In “Mission Impossible 5“, Tom Cruise will be returning to his role of Ethan Hunt. The previous film, “Mission Impossible: Ghost Protocol” set the record very high after grossing a staggering $695 million globally [24]. Mission Impossible 5 is set to release on December 25th, 2015. The film’s trailer has not been released [25].

Sources

[1] Viacom’s Logo, Variety.com, RT: 11/30/2014

[2] About Viacom, Viacom.com, RT: 11/30/2014

[3] “Advertising Revenue Drive Media Networks Business“, Marketrealist.com, RT: 11/30/2014

[4] Viacom Brands, Viacom.com, RT: 11/30/2014

[5] Paramount Pictures’s Logo, Paramountguilds.com, RT: 11/30/2014

[6] Studio Market Share, Boxofficemojo.com, RT: 11/30/2014

[7] Paramount’s All Time Box Office Results, Boxofficemojo.com, RT: 11/30/2014

[8] Viacom’s Fiscal Report 2014, Viacom.com, RT: 11/30/2014

[9] Philippe Dauman, Viacom.com, RT: 11/30/2014

[10] Thomas E. Dooley, Viacom.com, RT: 11/30/2014

[11] Wade Davis,Viacom.com, RT: 11/30/2014

[12] Viacom Closes Acquisition of Channel 5, Viacom.com, RT: 11/30/2014

[13] Viacom and Sony Partnership,Viacom.com, RT: 11/30/2014

[14] Viacom Inks Pact with Sony, Variety.com, 9/10/2014, RT: 11/30/2014

[15] Teenage Mutant Ninja Turtles Poster, Teenagemutantninjaturtlesmovie.com, RT: 11/30/2014

[16] Box Office Results, Boxofficemojo.com, RT: 11/30/2014

[17] Interstellar Poster, Interstellar-movie.com, RT: 11/30/2014

[18] “Interstellar Final Box Office Fails to Hit $50 Million Estimates”, Variety.com, 11/10/2014, RT: 11/30/2014

[19] Box Office Results, Boxofficemojo.com, RT: 11/30/2014

[20] Eye Candy Poster, Hollywoordreporter.com, 11/02/2014, RT: 11/30/2014

[21] MTV’s New Scripted Thriller, Viacom.com, RT: 11/30/2014

[22] Eye Candy Trailer, Youtube.com, RT: 11/30/2014

[23] Mission Impossible 5 Poster, Screenrant.com, RT: 11/30/2014

[24] Box Office Results, Boxofficemojo.com, RT: 11/30/2014

[25] “Mission: Impossible 5 to Hit Theaters in December 2015”, Hollywoodreporter.com, 11/13/2014, RT: 11/30/2014

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