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

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