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.

Viacom

Posted on October 5, 2014 by nawhite

by Nalae White

Viacom Inc. 1515 Broadway

New York, NY 10036

United States

Phone: (212)-258-6000

http://www.viacom.com [1]

Key Executives:

Philippe Dauman, CEO

Sumner M. Redstone, Founder & Executive Chairman

Thomas E. Dooley, COO

Wade Davis, CFO

Company Overview:

Viacom Inc. is an American mass media company that mainly produces films and cable television shows. Viacom is the fifth largest broadcasting and cable company in the country. Their network reaches approximately 700 million subscribers internationally, throughout about 160 countries and territories. It is estimated that Viacom owns and operates roughly 170 networks, in addition to Paramount Studios, America’s oldest film studio and distributor. Viacom’s networks are largely content based, satisfying more niche markets. Viacom operates hundreds of online, mobile, and app experiences across a wide range of media platforms, including both traditional and new forms of media. [2]

Viacom Owned Networks [i]

Viacom’s history as an independent company has been complicated. Viacom began as a spin-off network from what was then CBS, Inc., establishing itself as a public company in 1971. In 1987, National Amusements acquired the controlling shares of Viacom, owning 83% of the company. However, in 2000, Viacom formed a $39.8 billion merger with CBS Corporation, uniting the two companies once again. Then, in 2005, the companies parted ways again and Viacom rebranded itself as Viacom Inc. Along the way, Viacom had acquired and created over 100 channels through MTV Networks and otherwise. The company has experimented with joint ventures like EPIX, partnerships with music groups like Warner Music Group, feeding into more targeted markets with channels like mtvU, and of course new and innovative ideas for creating and distributing content. [3]

Current Ongoings:

Rendering of Columbia Square [4]

Viacom recently made the decision to relocate and consolidate several of its big name networks to one building in Columbia Square on Sunset Boulevard. MTV, Spike TV, Comedy Central, and BET will all operate out of the $420 million complex within 180,000 square feet of space. The move will put the networks closer to Paramount Studios, which operates a mile from the building. Viacom’s 12-year lease states that the company will capacitate nearly the entirety of a 6-story building within the complex. The lease is the largest to be signed in Hollywood in the last 10 years. Viacom is expected to poster sizable graphics that will be visible from far distances on the building. The purchase is instrumental in what is seen as a revamping of Hollywood, with the complex being the largest “media-tenant” since the construction of the Capitol Records Tower in the 1950s. [4]

Viacom’s network continues to expand, opening new channels to satisfy new markets. This year, Viacom renewed an existing distribution deal with Hulu, an online media streaming service. The contract allows Hulu to use Viacom’s existing repertoire of cable networks to substantiate Hulu’s own library. The renewal will also allow Hulu a wider range of material to choose from, including networks that were not previously available to the streaming service before, such as MTV, VH1, Comedy Central, and Nickelodeon. The deal will contribute largely to the “Hulu Kids” section of the website, reviving older series accompanied by a sense of nostalgia like “Ren & Stimpy” and “Hey Arnold!” which currently air on Viacom’s TeenNick channel. The deal also greatly amplifies the number of Viacom’s past reality shows that will be featured on Hulu. It is speculated that the deal is an attempt by Hulu to compete with Amazon Prime’s Instant Video Inventory. However, the deal barely rivals the existing subscription-streaming deal between Amazon and Viacom, which was the largest sum Amazon has paid for a streaming deal thus far.[5]

Channel 5 Logo [ii]

Viacom has, additionally, closed a £450 million deal, acquiring UK’s Channel 5 Broadcasting Limited from Northern & Shell Media Group. Channel 5 and Viacom’s existing networks have begunexperimenting with joint programming, airing Nickelodeon originated shows on Channel 5, as well producing new content with children’s shows like “Nella the Knight” and a reality show called “10,000 B.C.”[6]

Recent Legal Incidents:

In 2007, Viacom filed a $1 billion lawsuit against YouTube, claiming that the website was perpetuating Copyright Infringement. The judge ruled in YouTube’s favor in 2010, and Viacom filed for an appeal. The suit litigated for a total of 6 years until in 2013, the judge ruled again that YouTube “did not have to police itself”, and that it was Viacom’s responsibility to find infringing videos and alert YouTube to their presence. In March of 2014, Viacom made the decision to cut their losses, reaching an undisclosed settlement in which no money was exchanged with Google, YouTube’s parent company. Since the settlement, the two companies have been in contact about “seizing opportunities”, with the allusion of possible collaborations and close interactions between them.[7][8]

Promotional still for VH1’s TLC Biopic, CrazySexyCool [11]

In April of 2014, Viacom was sued by Perri “Pebbles” Reid, former manager of 90’s R&B group TLC, for claims of defamation. In 2013, the 2-hour biopic “CrazySexyCool”, following the lives and fame of the popular R&B group, premiered on VH1, a channel owned by Viacom Inc. The biopic was reported to have given VH1 its highest ratings in 5 years. The lawsuit calls for $40 million in compensatory and punitive damages, as well as a request to ban the movie or associated promotional materials from being publicized. Reid believes that the movie disparaged her reputation both as an entertainer and businesswoman, and that “Viacom abandoned journalistic and literary integrity and ignored fundamental canons of journalistic and literary conduct by publishing false and defamatory accusations with actual malice.” The former manager claims that she was presented as “conniving and dishonest”, as it demonstrated that she deceived her clients and robbed them of their royalty money. Reid claims that she had no control over the group’s lawyer’s or accountants. Viacom has refused to comment. [9][10][11]

In February of 2013, Cablevision filed an antitrust lawsuit against Viacom, alleging illegal channel tying during program negotiations; Cablevision claims that Viacom threatened a “10 figure penalty” if Cablevision did not agree to carry smaller suites in addition to must-have cable programming. Viacom counters that the “10 figure penalty” in question is the difference between standard rates and a negotiation between Viacom and Cablevision as the result of “good-faith negotiations” since the two have worked together in the past. The lawsuit was filed three months after a carriage deal between Cablevision and Viacom. Viacom moved to have the case dismissed, however the judge ruled that there was viable evidence on Cablevision’s behalf to review an antitrust claim. There is no trial date set.[12]

Financial Information

Fiscal 2014 Report:

Revenues: $13.78B

Adjusted Operating Income: $4.13B

Adjusted Net Earnings: $2.38B

Adjusted Diluted EPS: $5.4M

Viacom’s fiscal year came to a close on September 30^th, 2014. The company demonstrated an impressive fiscal year. While Viacom’s total revenue showed a negligible change in comparison to the previous year, other factors were notable. Both the company’s Adjusted Operating Income and Adjusted Diluted Earnings Per Share reached all time highs, rising 5% and 15% respectively. The company’s Adjusted Net Earnings also increased by 3.8% from the previous year.[13]

Sources:

1 Yahoo! Finance: Viacom Financial Profile Date Acquired: December 1^st, 2014

²Viacom Website: About Viacom Date Acquired: December 1^st, 2014

3 Viacom Timeline: History of Viacom Date Acquired: December 1^st, 2014

4 LA Times: Viacom Signs 12-Year Lease at Columbia Square in Hollywood Date Acquired: December 1^st, 2014

5 LA Times: Hulu Extends Streaming Deal With Viacom, Expands Library Date Acquired: December 1^st, 2014

6 Viacom News: Viacom Closes Acquisition of Channel 5 Date Acquired: December 1^st, 2014

7 Bloomberg BusinessWeek Technology: Viacom Gives Up On Its YouTube Copyright Lawsuit Date Acquired: December 1^st, 2014

8 Bloomberg BusinessWeek: Viacom and Google Settle YouTube Lawsuit Date Acquired: December 1^st, 2014

9 Bloomberg BusinessWeek: Former TLC manager sues Viacom For Defamation Date Acquired: December 1^st, 2014

10 The Root: Pebbles Files $40,000,000 Lawsuit Against Viacom Over TLC Biopic Date Acquired: December 1^st, 2014

11 Eurweb: TLC Biopic Gives VH1 Its Highest Ratings in 5 Years Date Acquired: December 1^st, 2014

12 The Hollywood Reporter: Viacom Can’t Escape Cablevision’s Antitrust Lawsuit Date Acquired: December 1^st, 2014

13 4^th Quarter ’14 Earnings Press Release: Viacom Reports Record Profit For Fiscal 2014 Date Acquired: December 1^st, 2014

Photo Sources:

i Stop the Cap: Viacom Demands 100% Rate Increases Date Acquired: December 1st, 2014

ii Deadline.com: Channel 5 Sale Speculations Date Acquired: December 1^st, 2014

Paramount Pictures

Posted on November 1, 2013 by Shaugnessy Elsroth

By Shaugnessy Elsroth

Paramount Pictures Logo [19]

Paramount Pictures Corporation

5555 Melrose Avenue
Hollywood, CA 90038
323.956.5000
www.paramount.com

A Brief Overview

Adolph Zukor – Founder [20]

Paramount Pictures Corporation is a subsidiary of the top ranked media firm Viacom. It globally produces and distributes filmed entertainment. The corporation was founded in 1912 by Adolph Zukor and was originally known as the Famous Players Film Company. In 1994, Viacom acquired Famous Players and renamed it to Paramount Pictures. The company annually releases twelve different movies and distributes them through its Paramount Home Entertainment. 2012 marked Paramount’s 100th year anniversary and despite being one of the oldest motion picture companies in America, they show no signs of slowing down any time soon. [1] [2]

Key Executives

Brad Grey – CEO [21]

Brad Grey

Grey is the Chairman and Chief Executive Officer for Paramount Pictures Corporation and has held the position since 2005. He is in charge of all development and production generated by Paramount Motion Picture Group. Aside from Paramount Pictures, the Group includes Paramount Vantage and Insurge Pictures. [3]

Mark Badagliacca – CFO [22]

Mark Badagliacca

Since 2000, Badagliacca has served as Paramount Pictures Corporation‘s Executive Vice President and Chief Financial Officer. He is in control of the finances, treasury, accounting and financial planning for the corporate company. [4]

Fredrick Huntsberry – COO [23]

Fredrick Huntsberry

Huntsberry started his position as the Chief Operating Officer for Paramount Pictures Corporation in 2006. As the C.O.O, he manages the planning and operations for the studio, including their financial department, IT department, and human resources. [5]

In Memory Of

A. C. Lyles

A. C. Lyles [24]

On September 27, 2013, Paramount‘s well-known producer and employee of over eighty-five years, Andrew Craddock Lyles, passed away at the age of 95. Lyles’ affiliation with the company began when he was only 10 years old, as he handed out fliers for a local theatre owned by Paramount in his hometown in Florida. His career in Hollywood began when he started working in the mail room at Paramount. He later moved up to become a studio publicist and further onto a producer. His wife, Martha Vickers, survives him and has asked for donations in honor of her husband to be sent to the Motion Picture Fund. [6]

In the News

End of Summer Double Feature Special

Double Feature Special Promo [25]

From August 30^th to September 5^th, Paramount Pictures Corporation offered moviegoers a special double feature experience to see two of its big summer blockbuster hits, Star Trek Into Darkness and World War Z for the price of one ticket. Select theaters offered this limited opportunity in both 2D and RealD 3D; AMC Theatres, Carmike Cinemas, Marcus Theatres, and Regal Cinemas. [7] [8] [9]

For an external link to view this trailer, click here. [26]

Star Trek Into Darkness originally came out May 16 and during its opening weekend it generated $70,165,559 in the domestic box office. From opening weekend to August 25 it brought in $227,377,844. The weekend before this special double feature only added $106,356 to the total revenue, but with the introduction of the two for one deal, the weekend from August 30 to September 2 added $1,056,014 to their overall gross, increasing the total profits to reach $228,756,232. [10]

For an external link to view this trailer, click here. [27]

World War Z was released on June 21 and brought $66,411,834 in sales during its first weekend at the domestic box office. Up until August 30, $198,854,941 was generated for its revenue. The weekend before the special feature produced a small profit of only $314,920. With the introduction of the two for one deal however, the weekend of September 3 increased the gross income with an additional $1,650,374. Ultimately, after October 6, World War Z’s overall revenue totaled to $202, 349,504. [11]

Bad Grandpa

Bad Grandpa Advertisement [28]

Paramount Pictures Corporation‘s most recent comedy, Jackass Presents: Bad Grandpa was released on October 25. The movie is the fourth installment in the Jackass movie series, which is based off of the hit MTV reality series produced by DickhouseTV, where the cast is known for their self-injuring stunts and pranks. Johnny Knoxville stars as the lead character, Irving Zisman, who takes a road trip with his grandson and ridiculousness ensues.

For an external link to view this trailer, click here. [29]

The film collected $32,055,177 in its opening weekend, toppling Warner Bros.‘s drama Gravity, which only raked in $20,135,387 that weekend. [12] [13] Analysts were waiting for something to take out Gravity, since it had stayed at the top of the movie charts for its first three weeks, and Bad Grandpa did the job. After four weeks in theaters, Bad Grandpa has thus far accumulated $90,202,000, which is just shy of its $100 million goal. [12] [14]

Trimming Positions

Paramount Pictures California Headquarters [30]

In the beginning of October, Paramount Pictures stated that 110 job cuts will be made spanning its worldwide offices. In a recent statement, Chief Operating Officer Fredrick Hunstberry announced that reductions are being made to five percent of the company’s 2,200-person workforce. [15] The departments impacted are finance, human resources, and information technology, international home-media distribution, legal and marketing. [16] The company’s intent is to reorganize the corporation in order to better adapt themselves to the film industry’s increasing competition. [15]

What’s Coming Up?

Release Date Change

The Wolf of Wall Street Promo [31]

The Wolf of Wall Street is Leonardo DiCaprio’s latest movie where he plays the wealthy stockbroker, Jordan Belfort. Over Belfort’s years as a swindler, he developed a serious drug addiction, getting wrapped up in the rich party lifestyle and refused to cooperate in a large fraud case pertaining to corruption on Wall Street. Martin Scorsese is the director of this black comedy, which is based on Belfort’s self-titled memoir. Jonah Hill and Matthew McConaughey are among other cast members. [17]

For an external link to view this trailer, click here. [32]

The film was originally set to be released November 15, and has since been changed to come out in theaters on Christmas day, December 25. [18] The purpose of the set back is due to issues surrounding the movies long length of three hours, as well as a debate pertaining to its potential NC-17 rating. As a result of the setback, other studios are left scrambling to refigure their movie schedules. Sony has pushed back its release date for The Monuments Men from December 18 to February 7^th of next year. The RoboCop remake has thus been postponed and will now be coming out in theaters on February 12^th. For Paramount, their initial holiday movie Jack Ryan: Shadow Recruit, is now set to come out January 7, 2014. Ultimately, the process of changing one release date shows how problematic and chaotic the procedure for movie scheduling is during “Oscar season”. [18]

Sources

1) http://www.paramount.com/100-years-paramount/paramount-story
Retrieved September 8, 2013

2) http://www.hoovers.com/company-information/cs/company-profile.Paramount_Pictures_Corporation.454f21dcb6c08c2b.html
Retrieved September 8, 2013

3) http://www.paramount.com/inside-studio/studio/executives/meet-executives/brad-grey
Retrieved September 8, 2013

4) http://www.paramount.com/inside-studio/studio/executives/division-executives/mark-badagilacca
Retrieved September 8, 2013

5) http://www.paramount.com/inside-studio/studio/executives/meet-executives/fedrick-huntsberry
Retrieved September 8, 2013

6) http://variety.com/2013/film/news/paramounts-longest-employee-a-c-lyles-dies-at-95-1200682146/
Retrieved October 10, 2013

7) http://www.marketwatch.com/story/paramount-pictures-and-leading-exhibitors-announce-star-trek-into-darkness-and-world-war-z-double-feature-2013-08-27
Retrieved September 8, 2013

8) http://www.paramount.com/news-and-social-media/news-and-press-releases/paramount-pictures-and-leading-exhibitors-announce
Retrieved September 8, 2013

9) http://blogs.wsj.com/speakeasy/2013/08/27/star-trek-world-war-z-bring-back-double-feature/
Retrieved September 8, 2013

10) http://www.boxofficemojo.com/movies/?page=weekend&id=startrek12.htm
Retrieved November 15, 2013

11) http://www.boxofficemojo.com/movies/?page=weekend&id=worldwarz.htm
Retrieved November 15, 2013

12) http://www.boxofficemojo.com/movies/?page=weekend&id=badgrandpa.htm
Retrieved November 18, 2013

13) http://www.boxofficemojo.com/movies/?page=weekend&id=gravity.htm
Retrieved November 15, 2013

14) http://www.bloomberg.com/news/2013-10-27/-jackass-presents-bad-grandpa-unseats-gravity-at-box-office.html
Retrieved November 9, 2013

15) http://ca.news.yahoo.com/viacoms-paramount-pictures-trim-110-positions-5-per-231256454–finance.html
Retrieved October 10, 2013

16) http://www.bloomberg.com/news/2013-10-01/viacom-s-paramount-film-unit-cites-competition-for-110-job-cuts.html
Retrieved October 10, 2013

17) http://www.thewolfofwallstreet.com
Retrieved November 15, 2013

18) http://www.forbes.com/sites/scottmendelson/2013/10/28/leonardo-dicaprios-the-wolf-of-wall-street-causes-release-date-musical-chairs/
Retrieved November 9, 2013

19) http://www.jennielsen.com/wp-content/uploads/2012/12/Paramount-Pictures-Logo.jpg
Retrieved November 17, 2013

20) http://paramount.com-beta.com/admin/uploads/General_Info/Adolph_Zukor_2.jpg
Retrieved November 17, 2013

21) http://www1.pictures.gi.zimbio.com/Brad+Grey+Paramount+Vantage+Premiere+Mighty+jJ5m5KVsU9xl.jpg
Retrieved November 17, 2013

22) http://www.paramount.com/sites/default/files/styles/large/public/mark-badagliacca.jpg?itok=jWtDpIeh
Retrieved November 17, 2013

23) http://www.planningreport.com/files/styles/article_thumbnail/public/field/image/Huntsberry,%20Frederick.jpg?itok=tnyFF0Or
Retrieved November 17, 2013

24) http://www.hollywoodreporter.com/sites/default/files/imagecache/blog_post_349_width/2012/04/lyles_a.jpg
Retrieved November 17, 2013

25) http://wpc.556e.edgecastcdn.net/80556E/img.news/NEhkyiViSKxhlh_1_3.jpg
Retrieved November 17, 2013

26) http://www.youtube.com/watch?v=r5gdbUC9mWU
Retrieved November 17, 2013

27) http://www.youtube.com/watch?v=Md6Dvxdr0AQ
Retrieved November 17, 2013

28) http://static.squarespace.com/static/51b3dc8ee4b051b96ceb10de/t/52376e8de4b072186ca877ea/1379364496981/hr_Jackass_Presents-_Bad_Grandpa_6.jpg
Retrieved November 17, 2013

29) http://www.youtube.com/watch?v=tctgUr147zA
Retrieved November 17, 2013

30) http://cdn.videogum.com/files/2011/09/paramount_pictures.jpg
Retrieved November 17, 2013

31) http://www.cinemablend.com/images/news/38097/_1371450399.jpg
Retrieved November 17, 2013

32) http://www.youtube.com/watch?v=iszwuX1AK6A
Retrieved November 17, 2013

Paramount Pictures

Posted on October 28, 2013 by Patrick Flanagan

By Pat Flanagan

courtesy of Paramount Pictures

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

KEY EXECUTIVES

Brad Grey
courtesy of The Hollywood Reporter

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 courtesy of The Hollywood Reporter

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 courtesy of Paramount.com

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 courtesy of thezog.info

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

MV5BMTg4NjIwMTI5OV5BMl5BanBnXkFtZTgwNjU1MTMyMDE@._V1_SY317_CR1,0,214,317_

courtesy of Paramount Pictures

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.

courtesy of fandango.com

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]

MV5BMjE5ODk0NjQzNV5BMl5BanBnXkFtZTgwODk4MDA1MDE@._V1_SX214_

courtesy of Paramount Pictures

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

MV5BMTcyNzk4Nzg4N15BMl5BanBnXkFtZTgwMTkxMDI2MDE@._V1_SY317_CR0,0,214,317_

courtesy of Paramount Pictures

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 courtesy of imbd.co

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

Paramount Pictures

Posted on April 9, 2013 by John Peter Amato Jr

Paramount’s Logo
Courtesy: jennielsen.com

Paramount Pictures
5555 Melrose Ave, Los Angeles, CA 90038
(323) 956-8398

Paramount Pictures is the fifth oldest film studio in America. It is a Viacom company, and with over 1,000 titles and numerous awards, it continues to produce entertaining, lucrative, and successful content. Divisions within Paramount include Paramount Vantage, Paramount Home Entertainment, Paramount Digital Entertainment, Paramount Pictures International, Paramount Licensing Inc, Paramount Studio Group, Worldwide Television Distribution, Paramount Famous Production, and Paramount Parks and Resorts [10].

Brad Grey, C.E.O. and chairman of Paramount Pictures, has held his positions since 2005.

Brad Grey, C.E.O., Chairman, Paramount Pictures
Courtesy: hollywoodreporter.com

After succeeding Sherry Lansing, Grey is responsible for 8 of Paramount’s top 10 highest grossing films of all time, including the Transformers series, Star Trek, Iron Man 1 & 2, Shrek the Third, and Indiana Jones and the Kingdom of the Crystal Skull.

Paramount takes advantage of its rich historical value and prime location. It is the last remaining studio in the Hollywood neighborhood of Los Angeles.The studio hosts tours and many events within the studio. It is a major tourist destination in Los Angeles. An intimate tour of the studio leaves a visitor with a sense of the 100 year Hollywood history Paramount has to offer. Visiting offers opportunity to see where some of the most celebrated films and TV shows of all time were produced [4].

Paramount Studios
Courtesy: flickr

HERE AND NOW

G.I. Joe: Retaliation Film Poster
Courtesy: collider.com

Paramount is notorious for their highly grossing blockbuster films. Currently sitting at the top of the box office is Paramount Picture’s G.I. Joe: Retaliation. This science-fiction action, starring Dwayne Johnson, Bruce Willis, and Channing Tatum, has already grossed $86.4M [8]. Despite the criticisms of the movie from fans and authors on websites such as rottentomato.com, the studio has still benefited from a lucrative return on their mediocre sequel to G.I. Joe: The Rise of Cobra. Scott Mendelson, a box office pundit and film market analyst, describes Paramount’s success:

Paramount did a few very smart things during the production of this Jon Chu-helmed sequel. In fact, other than the fact that it’s not a very good movie (arguably the hardest variable to plan on, natch), Paramount Pictures and MGM’s handling of G.I. Joe: Retaliation may be a primer on how to successfully launch a tentpole film in today’s marketplace [3].

Paramount held off on the release of the movie, which was planned to go into theaters in June 2012. Fast forward 9 months to March 2013, add in increased 3D ticket prices with Paramount’s decision to adapt the film to 3D, and G.I. Joe: Retaliation has pulled in $233M and counting worldwide. Because the international market went for the 3D option, the decision to wait 9 months to convert the movie into 3D really paid off [3].

“The Rock,” Dwayne Johnson
Courtesy: businessinsider.com

The success can also be attributed to the films’s low budget and the decision not to reshoot parts of the film. With $233M made on worldwide sales, Paramount has already begun profiting heavily from the movie. Increasing its moderate $130M budget would not have made it an exponentially more entertaining film, according to Mendelson [8][3]. By sticking to its budget, appropriating 9 months for the transition to 3D, and refraining from taking exessive reshoots during post production, this mediocre sequel translated into a lucrative worldwide film.

JUST AROUND THE BEND

Upcoming on Paramount’s agenda is the release of some huge titles. Star Trek Into the Darkness is set to release on May 17 [10]. This sequel is being directed and produced by J.J Abrams, the man who previously produced and directed the recent 2009 Star Trek.

Star Trek Into the Darkness Film Poster
Courtesy: taylormarsh.com

There are high expectations for this Paramount Picture franchise. Because Star Trek is such a storied franchise, fanatics are concerned about the anagonist’s role as well as overall expectations for the film. Benedict Cumberbatch, the man purportedly playing the role of “Khan,” speaks to these concerns [7]:

“That way madness lies… I think that’s the thing, isn’t it? If you have an over preoccupation with perception and trying to please people’s expectations, then you can go mad. We’ve got J.J. Abrams, and he’s already beautifully cracked that nut in the first film, and I think it pleased a lot of the varying camps: people who were coming to the franchise for the first time, the J.J. Abrams fans and the Star Trek fans, so that was a big comfort to me [2].

Paramount hopes to capitalize on the excitement of the film following the extremely successful 2009 Star Trek that found its way into the top 10 highest grossing films in Paramount history.

FURTHER DOWN THE LINE
There are two films Paramount is set to release within the next six months that have gained the attention of film-fanatics.With the phenomenon of AMC’s The Walking Dead, Paramount is “feeding” on America’s cultural fetish with zombies in Marc Forster’s apocalyptic horror film World War Z starring Brad Pitt [10].

World War Z Film Poster
Courtesy: movienewz.com

Set to release on June 21, there have been some setbacks during production and a reported thrift between Pitt and Forster. After initial production had finished, this $125M budget film had to reshoot for seven weeks and its entire third act was rewritten [9]. Regardless, Paramount has high expectations for this gutty apocalyptic film, hoping it will be a summer blockbuster.

After the success and popularity of the 2004 film Anchorman: The Legend of Ron Burgundy, news of the sequel has been highly anticipated. Starring Will Ferrell, this goofy comedy’s plot is still up in the air. Anchorman The Legend Continues is set to release on December 20, and fans are gearing up for another round of laughs [10].

Anchorman The Legend Continues Film Poster
Courtesy: Wikipedia.com

Paramount’s executive decisions to make these movie sequels shows the studio’s main goal-to make successful, lucrative films. By taking advantage of names like Will Ferrell in the upcoming Anchorman, franchise names like Star Trek, and cultural fetishes like zombie apocalypses, Paramount hedges their bets with expected profitable films.

PARAMOUNT’s GLOBAL REACH
In one of the most luxurious places in the world, Paramount Hotels and Resorts has partnered with the United Arab Emirates-based luxury developer DAMAC Properties to build a 540 room hotel in Dubai. This building, DAMAC Towers by Paramount, acts as a gateway for Paramount to spread their media content around the globe. The hotel will offer residences as well as temporary stays [1].

DAMAC Towers by Paramount
Courtesy: damacproperties.com

It will feature Paramount themed restaurants, bars, swimming pools, and contain a movie theater. The rooms will also have the accommodation to access exclussive Paramount films. According to initial reports, the Dubai venture has been a success, with the first level of residences already sold out. Construction is projected to be finished by the end of 2015. Paramount Hotels and Resorts is also extending its reach to Boao, China, where another hotel should be completed by the end of 2016 [5].

Sources:

[1] http://www.damacproperties.com/en/offer/offers/damac-towers-by-paramount.html

[2] http://screenrant.com/star-trek-2-into-darkness-images-gallery/

[3] http://www.forbes.com/sites/scottmendelson/2013/04/08/paramount-did-everything-right-with-g-i-joe-retaliation-except-make-a-good-movie/

[4] http://www.paramountstudiotour.com

[5] http://www.travelerstoday.com/articles/5593/20130402/paramount-pictures-open-first-movie-themed-hotel-dubai.htm

[6] http://www.imdb.com/list/BrYbKOsKKBQ/

[7] http://www.latinospost.com/articles/16107/20130408/star-trek-darkness-villain-spoilers-report-claims-knowledge-john-harrisons.htm

[8] http://movies.yahoo.com/box-office/

[9] http://io9.com/5918390/zombie-movie-world-war-z-is-an-undead-disaster

[10] http://www.paramount.com

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