Sony Corporation

Posted on October 16, 2016 by crtraver

Charlotte Traver, Brendan Weaver, David Sorokanich

Sony Entertainment Logo [15]

Company

Located in New York, NY, Sony Corporation of America is the US headquarters of Sony Corporation, which is based in Tokyo, Japan. Sony is involved in multiple businesses including electronics and mobile, film and television, music, gaming, digital services, and others. Sony employs about 125, 300 people and recorded annual sales of $71.7 billion of the fiscal year ending in March 2016.

Background

Sony Electronics is a leading provider of audio/video electronics and products. Sony Mobile is also a leading company in providing video, game, audio and communications technology products. Sony Pictures Entertainment is a huge innovator in major motion picture production and produces major blockbusters regularly. Sony Music Entertainment is one of the most well-known global recorded music companies and features artists famous on both a local and international scale. Sony/ATV Music Publishing works alongside Sony Music Entertainment and is the world’s leading music publisher. Sony Interactive Entertainment LLC is known for the PlayStation, a popular gaming console owned by millions of Americans. Other businesses that may not be as well known include Sony DADC, Sony Biotechnology Inc., Micronics, Inc., and Sony Card/Sony Rewards. [7]

Sony Pictures Executives

CEO of Sony Entertainment where he oversees the Sony’s global enterprise including Sony Music Entertainment, Sony Pictures Entertainment, and Sony/ATV Music Publishing

Michael Lynton: CEO of Sony Entertainment where he oversees the Sony’s global enterprise including Sony Music Entertainment, Sony Pictures Entertainment, and Sony/ATV Music Publishing [18]

Senior Executive Vice President & Chief Financial Officer for Sony Pictures Entertainment he oversees the company’s financial affairs and development

Philip Rowley: Senior Executive Vice President & Chief Financial Officer for Sony Pictures Entertainment he oversees the company’s financial affairs and development [18]

Executive Vice President & Chief Communications Officer of Sony Pictures Entertainment responsible for the distribution and implementation of Sony Pictures Entertainment communications

Robert Lawson: Executive Vice President & Chief Communications Officer of Sony Pictures Entertainment responsible for the distribution and implementation of Sony Pictures Entertainment communications [18]

Chairman of Sony Pictures Entertainment Motion Pictures Group in which he oversees the production and distribution of all Sony films

Tom Rothman: Chairman of Sony Pictures Entertainment Motion Pictures Group in which he oversees the production and distribution of all Sony films [18]

Senior Executive Vice President & General Counsel for Sony Pictures Entertainment and is the highest ranking legal consultant for Sony and is head of its law department

Leah Weil: Senior Executive Vice President & General Counsel for Sony Pictures Entertainment and is the highest ranking legal consultant for Sony and is head of its law department [18]

Sony Entertainment Financials

Screenshot of MarketWatch Report on Sony Corp. Stocks on Nov. 29, 2016 [13]

Sony Entertainment’s 2016 Q2 Earnings, which were finalized on September 30, 2016, show a 10.8% decrease in Sales and Operating Revenue compared to 2015’s Q2. Q2 is also showing a 45.7% decrease in Operating Income, a 40.5% decrease in Income before Income Taxes, and a 4.8% decrease in Sony Entertainment net income attributed to stockholders. These are all in comparison to the success Sony Entertainment showed in Q2 of 2015. [12] Furthermore, as of November 29, 2016, Sony Entertainment stock prices are at $29.49 per share. This is much lower in comparison to the past three months in which shares were at a high of $34.17. [13]

Sony Launches China Writers Initiative

On November 1, 2016, Sony Pictures Entertainment launched a China Writers Initiative, which will allow emerging and well-known writers from China access to the studios. Writers will be able to work with Hollywood film and television executives and screenwriters to collaborate on ideas for both Hollywood and Hollywood Chinese productions. The program was developed with Sony Pictures China and is intended to be a mutually educational program for both countries involved. Sony Pictures will select four writers at a time to travel to Los Angeles and work at the Sony Pictures Studios. A finalist will then be selected and able to produce their chosen project. [6]

Sony Dives into Virtual Reality

Sony Interactive Entertainment of America has been on the forefront of virtual reality technology and has just recently made VR accessible for all. With the release of the PlayStation VR in October 2016, virtual reality is available for all gamers who wish to take gaming to a new level. Virtual reality takes players into an immersive atmosphere never experienced before, one in which players are in the game themselves and experience something entirely different from traditional gaming. The release of the PlayStation VR included 30 games, but Sony Interactive Entertainment predicts that the PlayStation VR will have 50 games by the end of the year. President Shawn Layden of Sony Interactive Entertainment commented that virtual reality brings a “new medium into the homes of PS4 fans”. Sony Interactive Entertainment hopes that virtual reality will soon enter the homes of many average Americans, as more and more interactive experiences independent of gaming are released. A variety of VR experiences such as Hulu, Allumette, Invasion! and others will soon offer their own interactive experiences. [9]

[11]

Sony’s PlayStation VR outsold other virtual reality headsets released in 2016, including the HTC Vive and Facebook’s Oculus Rift. The PlayStation VR is predicted to outsell both the HTC Vive and Oculus Rift by more than 295,000 headsets, which is largely due to price. The PlayStation VR is a simple add on to the PlayStation 4, so users find this headset to be a better choice since many already own the console. However, SuperData Research’s director of research Stephanie Llamas seems to think that without a push in marketing from Sony, they will forever remain behind their potential.

-Is 2016 The Year Virtual Reality Finally Goes Mainstream? by NPR [14]

New Chairman and CEO of Sony Music

Michael Lynton, CEO of Sony Entertainment, announced that Doug Morris will transition from operational management of Sony Music Entertainment and assume the role of Chairman in April 2017, and Rob Stringer, who was formerly Chairman and CEO of Columbia Records, will become CEO of Sony Music. Over the last six years as CEO, Morris has increased Sony Music’s market share and profitability. This has helped Sony achieve its status as the second largest music company in the world. He has also helped Sony reach its impressive status by initiating partnerships with record labels, extending a joint venture deal with Syco Entertainment, and by supporting the growth and development of Vevo, which he founded with Eric Schmidt in 2009. [4]

Rob Stringer, new CEO of Sony Music [17]

New Bob Dylan releases from Sony Music

A massive 36CD box set of Bob Dylan’s 1966 concert tours of the US, UK, Europe, and Australia was released on November 11 by Columbia Records and Legacy Recordings, the catalog division of Sony Music Entertainment. The box set, “The 1966 Live Recordings”, commemorates the 50th anniversary of the live performances. The recordings are drawn from three main sources: soundboards, CBS Records mobile recordings, and audience tapes. The majority of the recordings are previously unreleased in any format and are being made available for the first time ever. [10]

Sony Pictures Classics Acquires The Comedian

Sony Pictures Classics has announced that they’ve acquired North American rights to Taylor Hackford’s comedy, THE COMEDIAN, starring Robert De Niro and Danny DeVito. Written by Art Linson, the film centers around an aging comic whose attempts to reinvent himself fail to impress an audience that only wants to know him as a former television character he played. Warner Bros. International will be handling foreign distribution of the film, under its deal with Cinelou.[2]

Sony Pictures Acquires TEN Sports From ZEE

Sony Pictures have entered into agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited for 385 million dollars. The acquisition will add South Asia’s leading sports network to SPN’s portfolio of channels. Ten Sports holds broadcast rights to wrestling, cricket, football, golf, motorsports, and cycling events. SPN comprises Sony Entertainment Television, one of India’s leading Hindi general entertainment television channels.[5]

Sony has acquired TEN Sports Network from Zee Entertainment Enterprises [16]

Sony and Multi-Deal International

In its commitment to broaden its global presence and its support of local language productions, Sony Pictures International Productions has signed a multi-picture development deal with filmmakers Eduardo Cisneros and Jason Shuman. The deal will allow Mexico and LA-based Cisneros and Shuman to write and produce three new films. Cisneros is one of the most successful writers in the Latin American film industry, with successes such as Instructions Not Included and Familia P. Luche. In 2014, Cisneros and Shuman began collaborating, writing the FOX feature comedy “Upgrade.” [3]

Sony Recognized as a Leader in Combating Climate Change

For the second year, Sony has been recognized as one of the highest performing companies on the CDP Japan 500 Climate Change Report 2016. CDP surveyed over 5,500 companies globally to compile their list. Their inclusion in the list recognizes the company’s effort to reduce the energy consumption of its manufactured products, curb greenhouse gas emissions at its operating sites, and accelerate use of renewable energy. Sony is one of 193 companies worldwide to be ranked as an “A” company, a distinction it has achieved for 2 consecutive years. [1]

Actions Sony has taken to combat climate change [19]

Works Cited

Sony Recognized as a Leader in Combating Climate Change in the CDP Japan 500 Climate Change Report 2016 for 2nd Consecutive Year. Retrieved November 27, 2016.
SONY PICTURES CLASSICS ACQUIRES CINELOU’S THE COMEDIAN. Retrieved November 27, 2016.
SONY PICTURES INTERNATIONAL PRODUCTIONS SIGNS MULTI-PICTURE DEVELOPMENT DEAL WITH EDUARDO CISNEROS AND JASON SHUMAN. Retrieved November 27, 2016.
ROB STRINGER PROMOTED TO CHIEF EXECUTIVE OFFICER OF SONY MUSIC ENTERTAINMENT. Retrieved November 27, 2016.
Sony Pictures To Acquire TEN Sports From ZEE. Retrieved November 27, 2016.
SONY PICTURES ENTERTAINMENT MOTION PICTURE GROUP LAUNCHES CHINA WRITERS INITIATIVE. Sony Pictures. Retrieved: November 28, 2016.
Who We Are. Sony.com. Retrieved: November 29, 2016.
Company News. Sony.com. Retrieved: November 27, 2016.
Gilbert, Ben (November 29, 2016). PlayStation is on track to crush Facebook and HTC in the first year of VR sales. Business Insider. Retrieved: November 28, 2016.
Columbia/Legacy Set to Release Bob Dylan: The 1966 Live Recordings, A Monumental Box Set featuring Every Known Recording from the Artist’s Mythic and Controversial 1966 Tour of the US, UK, Europe and Australia. Retrieved November 27, 2016.
PlayStation VR – Games Preview Summer 2016 | PSVR. Youtube.com. Retrieved November 28, 2016.
Sony Corporation 2016 Q2 Report. Retrieved November 26, 2016. https://www.sony.net/SonyInfo/IR/library/fr/16q2_sony.pdf
MarketWatch Reports on Sony Corporation Stocks. Retrieved November 29, 2016. http://www.marketwatch.com/investing/stock/sne/profile
NPR on Virtual Reality. Retrieved November 25, 2016. http://www.npr.org/sections/alltechconsidered/2015/12/30/461432244/is-2016-the-year-virtual-reality-finally-goes-mainstream
Sony Entertainment Logo. Retrieved November 27, 2016. https://www.sony.co.uk
Ten Sports Logo. Retrieved November 28, 2016. http://www.afaqs.com/news/story/44872_Ten-Sports-unveils-new-network-logo
Rob Stringer Photo. Retrieved November 29, 2016. https://www.sonymusic.com/executives/rob-stringer/
Sony Management Team. Retrieved November 29, 2019. http://www.sonypictures.com/corp/management.html
Sony CRS Reporting. Retrieved November 29, 2016. https://www.sony.net/SonyInfo/csr_report/environment/

Viacom

Posted on October 16, 2016 by Barbara

Ryan Doody, Georgina Macdonald

Viacom’s Holdings

Viacom, Inc. (VIAB) is an American media conglomerate with particular interests in cinema with Paramount Pictures, America’s oldest film studio; and cable television as the sixth largest cable ownership company globally, in order of revenue. Viacom houses media networks that reach approximately 700 million global subscribers with leading channels including MTV, VH1, BET, COMEDY CENTRAL and Nickelodeon.

Click here to see a list of all Viacom’s holdings

National Amusements

National Amusements, Inc. have a controlling interest of the media company. National Amusements is Viacom founder and billionaire Sumner Redstone’s holding company. This company holds a majority stake in both Viacom and its sister company, CBS Corp. Viacom was originally founded by media magna Sumner M. Redstone in 1971 and then reestablished in 2005 after splitting its original format into two publicly traded companies; Viacom and CBS Corporation. Sumner Redstone then became CEO of the newly defined Viacom, Inc. until February 2016. At the age of 92, Redstone resigned from his chairmanships at both CBS and Viacom after a court-ordered psychiatric examination.

The Redstone’s Legal Battles

This court-ordered examination by a geriatric psychiatrist is just one noteworthy outcome that has come out of a continuous stream of legal battles within and around the famously fractious Redstone family. The specific inquiry into the 92 year old’s health came after the newly-dismissed Viacom CEO Philippe Dauman sued Redstone, claiming that his dismissal was proof that Sumner was under the control of his daughter, Shari Redstone. At the time there were many rumors that Sumner Redstone’s failing health had allowed his daughter to run his company for him. These rumors were further supported by his supposed successor being someone close to Shari. Dauman and the five other board members dismissed by Redstone this year have sued to prevent their ouster. Their strategy was to prove that Shari took advantage of her father’s mental incapacity in order to seize control of the billion dollar companies. Their ‘legal drama’ and public familial feuding has been highly publicized over the last few years presenting the company as volatile, unstable and, thus, detrimentally impacted their professional image.

Management

Sumner M. Redstone, Founder & Executive Chairman

Sumner Redstone, Majority Shareholder of Viacom and Nat’l Amusements ; Chairman Emeritus

Shari E. Redstone, Non – Executive Vice Chair of Board of Trustees of Viacom

Acting CEO of Viacom Inc.; President and CEO of Viacom G.E.O.

Former CEO and President of Viacom Inc.

The Country’s Oldest Movie Studio

Paramount Pictures Corporation has experienced its worst fiscal year in Brad Grey’s twelve years as Chairman and CEO of the corporation. During his comments about their dismal year, Grey painted a ‘rosier picture’ for the future of Paramount Pictures. He hinted that with the dismissal of Dauman, the era of cost-cutting and streamlined content was over. Moreover, he insinuated that this would further allow a move ahead with more inventive content by acquiring more sub companies to provide blockbuster results; as in the spirit of Disney’s buying of companies such as Marvel, Pixar and Lucasfilm which has set up its slates for the next decade

The development of content is certainly the main issue with Paramount Pictures. It is reported that since the departures of Marvel, DreamWorks Animation and DreamWorks SKG, the corporation has been floundering for lucrative content for development. Grey also commented on repairing Paramount’s image within the film industry. They are seen as ‘penny-pincher’ with a poor business affairs process; a destabilized management team within their production division; and an inability to successfully launch branded sequels (as seen this year with Star Trek Beyond and Teenage Mutant Ninja Turtles).

“Recently, we’ve missed more than we should have.’ Grey said to Deadline magazine; but he went on to say that Paramount has ‘a very strong, diverse slate ahead.’ A true statement, according to critics; their roster includes a huge range of films from Oscar contenders like Scorsese’s Silence to the next chapter of the billion dollar franchise; Transformers: The Last Knight (Click here for news and spoilers).

CBS Merger

Over the past year, Viacom has flirted with the idea of re-merging with CBS, and as of November 2016 it seems inevitable. Shari Redstone has said in an interview that she “think[s] it makes sense at this point in time to explore whether it’s in the interest of both companies to merge again” (13). Viacom’s poor cable performance has put it at a weak position when it will eventually negotiate the merger with CBS. While it is uncertain who will lead the company, the most likely contender is Les Moonves, CBS’s current CEO (4).

Cable Performance

Viacom’s cable holdings have not seen nearly as much success in the past year as they have had in the past. As of November 20, 2016, there are no Viacom channels in the top 5 cable networks during Primetime. In fact, in the list of the 15 top channels on cable based on total day viewership, Viacom channels – Nickelodeon and Nick at Night – only appear twice (10).

*Highlighted channels are owned by Viacom

Source: medialifemagazine.com

The two most notable absentees from this list are MTV and Comedy Central – two of Viacom’s major channels. Comedy Central has seen a drop in viewership mainly due to the end of two of its most popular shows – The Daily Show with Jon Stewart and The Colbert Report. After Jon Stewart’s departure, Comedy Central’s viewership declined a painful 37% (11); the channel has yet to see a comparable replacement.

The new era of Comedy Central programming has yet to see the same success as its predecessors. The Daily Show with Trevor Noah’s average rating of 0.32 is about half that of Stewart’s. The Daily Show’s lack of success represents the channels struggle as a whole. While Trevor Noah may be likeable, In the words of Hayley C. Cuccinello of Forbes Magazine: “His dimples and adorable South African accent just aren’t cutting it” (11)

MTV has described the channel’s cable ratings plunge as a “transitional era” where it’s largely youthful demographic access the channel’s content primarily OTT through the MTV app. Its TV ratings have fell 29% between 2014 and 2015, yet MTV can still boast over 49 million Facebook likes, which is significantly higher than channels like Fox News that have higher TV ratings. While it may have digital success, MTV as a cable network will have to seriously innovate its content if it wants to stay relevant (12).

Argentina’s Largest TV Station

Management within Viacom has been a revolving door in recent months. Following the controversial departures of Dauman in August and Tom Dooley in September of this year, Robert Bakish became the company’s third CEO in three months. Bakish is a Viacom veteran; he became the President and CEO of Viacom International Media Networks in 2007 after worked for the company since 1997. (16)

Bakish’s move has already influenced many of Viacom’s strategies moving forward. He claims his desire is to strengthen the company both domestically and internationally; expected due to his background in global media networks. Bakish’s promotion moves complementarily with Viacom’s acquisition of one of Argentina’s main free-to-air channels, Telefe. The massive deal was announced in November this year, with Viacom pledging $345 million for the channel. (15) This certainly was a surprise purchase due to it’s well-known financial instability. This acquisition strengthens Viacom’s already prominent standing in South America; Telefe reaches 95% of all households in the country and reportedly has attracted 33% share of viewership year-to-date in 2016. However, the fiscal impact of a $345 million buy will be interesting to watch in a company with a reported $12 billion debt. (18)

Bibliography

James, Meg. November 8, 2016. LA Times. Sony Vue Dumps Comedy Central, Nickelodeon, MTV and Other Viacom Channels. Retrieved November 28, 2016. http://www.latimes.com/business/hollywood/la-fi-ct-sony-vue-viacom-20161108-story.html
James, Meg. July 8, 2016. LA Times. Why Viacom Chief Philippe Dauman is fighting his longtime boss, Sumner Redstone. Retrieved November 26th, 2016. http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-why-philippe-dauman-fights-sumner-redstone-20160706-snap-story.html
Cohan, William D. June 16, 2016. Vanity Fair. “It’s a Coup D’état Without a Doubt”: Is Shari Redstone Making Power Moves at Viacom? Retrieved November 26th, 2016. http://www.vanityfair.com/news/2016/06/shari-redstone-power-moves-viacom
Fox, Emily Jane. November 2, 2016. Vanity Fair. Finally, There is a Winner in the Redstone Family Drama. Retrieved November 3rd, 2016. http://www.vanityfair.com/news/2016/11/bob-bakish-viacom-compensation
Board of Directors. Retrieved November 24, 2016. http://www.viacom.com/about/pages/boardofdirectors.aspx#
Paramount Pictures. Retrieved November 1, 2016. http://www.paramount.com
Executives: Brad Grey. Retrieved November 1, 2016. http://www.paramount.com/inside-studio/studio/executives/meet-executives/brad-grey
Fleming Jr, Mike and Cieply, Michael. November 3, 2016. Deadline. Brad Grey Fights For Paramount’s Future Part Two. Retrieved November 4, 2016. http://deadline.com/2016/11/brad-grey-paramount-pictures-future-sumner-redstone-shari-redstone-1201847371/
Fleming Jr, Mike and Finke, Niki. October 8, 2010. Deadline. Paramount to End Relationship with Marvel in 2012. Retrieved November 4, 2016. http://deadline.com/2010/10/disney-paramount-marvel-restructure-marketing-distruibution-deal-76534/
Media By The Numbers: This Week’s Cable Ratings. November 23, 2016. Retrieved 28, 2016. http://www.medialifemagazine.com/this-weeks-cable-ratings/
Cuccinello, Hayley C. April 28, 2016. Forbes. Trevor Noah’s ‘Daily Show’ Reaches 100th Episode, But Noah Is Still Struggling. Retrieved November 28, 2016. http://www.forbes.com/sites/hayleycuccinello/2016/04/28/trevor-noahs-daily-show-reaches-100th-episode-but-noah-is-still-struggling/#67c25575820e
Zara, Christopher. April 15, 2015. International Business Times. MTV Ratings Decline Raises Relevance Questions As Young People Cut Cable Cord For Devices. Retrieved November 28, 2016. http://www.ibtimes.com/mtv-ratings-decline-raises-relevance-questions-young-people-cut-cable-cord-devices-1881468
Walters, Natalie. November 23, 2016. TheStreet. Viacom (VIAB) Merging With CBS Again ‘Might Make Sense,’ Shari Redstone Says. Retrieved November 29, 2016. https://www.thestreet.com/story/13890410/1/viacom-viab-merging-with-cbs-again-might-make-sense-shari-redstone-says.html
Fox, Emily Jane. October 19, 2016. The Hive. Will Les Moonves Soon Run Viacom, Too? Retrieved November 29, 2016. http://www.vanityfair.com/news/2016/10/les-moonves-cbs-viacom-merger
Steele, Anne. November 15, 2016. Wall Street Journal. Viacom to Buy Argentina’s Telefe for $345 Million. Retrieved November 29, 2016. http://www.wsj.com/articles/viacom-to-buy-argentinas-telefe-for-345-million-1479231471
James, Meg. October 31, 2016. LA Times. Viacom Names Robert Bakish as Acting CEO. Retrieved November 28, 2016. http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-viacom-ceo-20161031-story.html
James, Meg. November 9, 2016. LA Times. Paramount Quarterly Profit Plummets; Paramount Loses $137 million. Retrieved November 27, 2016. http://www.latimes.com/business/hollywood/la-fi-ct-viacom-earnings-paramount-20161108-story.html
Orr, Emma and Shaw, Lucas. August 24, 2016. Bloomberg. Viacom Said to Rethink Resistance to $12 Billion Downgrade. Retrieved November 27, 2016. https://www.bloomberg.com/news/articles/2016-08-24/viacom-said-to-rethink-resistance-to-12-billion-debt-downgrade

Emmis Communications – Jake Kalmenson

Posted on February 18, 2016 by smwarren

Emmis Communications

by Jake Kalmenson

1 Emmis Communications’ Logo

Emmis Communications

40 Monument Circle, Suite 700

Indianapolis, IN 46204

http://www.emmis.com

About

Emmis Communications is a media conglomerate based in Indianapolis that specializes in broadcast radio and publishing. The company holds 24 radio stations in six different markets, as well as six magazine publications in five different markets. The company was established in 1979 when Jeff Smulyan purchased WSVL, a radio station in Shelbyville, Indiana. After a few years of struggling to get the operation going, WENS was finally launched, penetrating the market as an adult contemporary format—the station was nearly an automatic hit. One significant member of the newly launched radio station was David Letterman who was just entering broadcast as a career. His fast appeal as a personality contributed mightily to the overall success of the radio station. With the success of the companies first acquisition, Smulyan used his profits and reinvested them into the company, eventually turning Emmis Communications into a multi-media company that today ranks among the top 10 in the radio industry in the United States. 2

3 Jeff Smulyan – Founder and Board Member – Emmis Communications

Jeff Smulyan serves as the founder and Chairman of the Board of Emmis Communications. In 1989, Smulyan and a group of investors purchased the Seattle Mariners. Only three years later they decided to sell it. Evidently, Jeff isn’t solely a radio guy, he has immersed Emmis into the magazine publication industry as well as the digital marketplace. He graduated from the University of Southern California with a B.A. in history and Telecommunications, as well as earned a Juris Doctor degree from the USC Law School. 4

5 Rick Cummings – President of Programming

Rick Cummings joined the media company as its first program director for WENS-FM. He later went on to become the national program director for Emmis Communications in 1984. Later on in 2002, he became the President of Programming.6

RADIO: Emmis has a variety of stations in a multitude of markets, however a few in particular help bring in the majority of its revenues. These include its two flagship stations: Power 106 and Hot 97

Power 106

7 Power 106

Power 106, Emmis’ Los Angeles-based hip-hop station, is a huge brand and has been the number one urban-hit station in LA for years. The station serves as a portal to debut hits as well as break new artists as millions of people tune in each day. For years KPWR (Power 106) had “Big Boy” host the morning show. However, last year the huge radio company Clear Channel (IHeart Radio) entered the market as a clear competitor with the launch of 92.3. The largest radio conglomerate used its leverage to strip Power 106 of its long-time morning show host by offering him a bigger contract. Since Big Boy left KPWR, the station has seen a serious dip in its ratings: the company moved from #5 in the market to #16 by the end of the year. 8

9 Kanye West at Power 106

Hot 97

10 Hot 97 Logo

WQHT or “Hot 97” became the first all hip-hop station in 1992 when the format changed from dance to hip-hop and R&B. This change was in response to the station experiencing an all-time-low in ratings. Ever since, the station has been a powerhouse, trendsetting and defining hip-hop culture in the number one radio market, New York City. Hot 97’s principal demographic is 18-34 year olds. The station has facilitated the breaking of big time artists including: Jay Z, Nas, Chris Brown, Ne-Yo and 50 Cent.11

Concerts

Every year Emmis Communication takes advantage of its powerful position in the music industry by hosting multiple music festivals. In Los Angeles, Power 106 puts on the concert ‘PowerHouse,’ which features many of the top hip-hop artists in the world. Additionally, the company’s New York hip-hop radio station ‘Hot 97’ hosts the music festival “Summer Jam” which takes place at MetLife stadium in New York City. In recent news, Emmis Communications has expanded its ‘Summer Jam’ to Tokyo.

12 Summer Jam Takes Tokyo

Financial

In the financial report released November 30th, 2015, Emmis Communications released its net revenues per sector of the company. Evidently, radio revenues were the highest at $132,789,000 nine months into the year. As compared to last year, the company is down almost $5 million in revenue. Revenues from publishing remained steady: only dropping in the $10,000 range. What stands out most is that the company generated a significantly higher amount in the field of ‘Emerging Technologies,’ which refers to online radio and digital advertising. In 2014, the company saw $318,000 in revenue, whereas in 2015 the company saw almost $1 million in revenue: $985,000.13

14 Financial Results for Q3

Emmis Communications or (EMMS) currently sells for 58 cents per share. Over the last month (since March 28th) the company’s stock price has fluctuated within a range of 10 cents. It has hit a high of .65 cents per share, meanwhile hitting a low of 55 cents per share.

15 EMMS Stock – Month

As shown below, the price has significantly wavered since 2012: it hit a high of over $3 per share, meanwhile also hitting a low of its current state, .58 cents per share. The company’s owner has attributed its fallen stock price to the recent struggles the company has faced in Los Angeles as well as the general consensus that radio is a declining industry.

16 EMMS Stock – Year

Recent News

Due to the difficulties the company has seen with its flagship station KPWR, it has taken action to cut costs by laying off employees, cutting executive salaries and lowering its budget. After experiencing a weak fiscal quarter, the company laid off 32 employees, cutting about 3% of its workforce. In addition to the layoffs, the company is also shaving the salaries of all its senior executives. In an article published by The Indy Star, the company is looking to cut “$7.5 million from its budget, as well as $5.3 million from its radio properties.” Additionally, Smulyan decided not to renew the contract of Mike Corbin–someone who had worked for the company for nearly 10 years, as well as Deon Levingston, the company’s New York general manager. 17

What’s to Come

While the situation in Los Angeles as well as the decline of its stock price might suggest a variable future for the company, many believe that the low valuation is a result of an overreaction to a declining radio industry. While studies show that more and more people are using streaming services to consume music, there continues to remain strong evidence showing that radio is still the most dominant medium for music consumption. According to the Nielsen Total Audience Report, AM/FM radio still reaches over 90% of all Americans and 223 million people each week.18

Sources:

“Emmis Communications.” Emmis Communications Home Comments. N.p., n.d. Web. 25 Apr. 2016.
“History of Emmis Communications.” History of Emmis Communications. N.p., n.d. Web.
“Jeff Smulyan – Chairman, CEO, and Founder.” Emmis Communications. N.p., n.d. Web. 25 Apr. 2016.
Ibid.
“Rick Cummings – Emmis Communications.” Emmis Communications. N.p., n.d. Web. 25 Apr. 2016.
Ibid.
“Power 106 | Where Hip Hop Lives.” Power 106 | Where Hip Hop Lives. Emmis Communications, n.d. Web. 25 Apr. 2016.
“Emmis Radio: Power 106 KPWR – Los Angeles.” Emmis Communications. N.p., n.d. Web. 25 Apr. 2016.
“Kanye West – Awesome – [LEAKED MUSIC].” Power 106. N.p., n.d. Web. 25 Apr. 2016.
“HOT 97 | Where Hip Hop Lives.” HOT 97 | Where Hip Hop Lives. N.p., n.d. Web. 25 Apr. 2016.
“RADIO: New York – HOT 97 WQHT – Emmis Communications.” Emmis Communications. N.p., n.d. Web. 25 Apr. 2016.
“Hot 97’s Summer Jam Takes Its Talents To Tokyo.” Vibe. N.p., 30 Mar. 2016. Web. 25 Apr. 2016.
Newton, R. Emmis. “801.” The Mathematical Gazette 12.178 (1925): 475. Summary of Financial Results. Web.
Ibid.
“Emmis Communications Corporation.” : NASDAQ:EMMS Quotes & News. Google Finance, n.d. Web. 25 Apr. 2016.
Ibid.
Briggs, James. “Emmis Communications Confirms Layoffs.” Indystar. Indystar, n.d. Web.
“STATE OF THE MEDIA: AUDIO TODAY 2014.” Nielsen. N.p., n.d. Web.
Contents, Table Of. EMMIS COMMUNICATIONS CORPORATION (n.d.): n. pag. Emmis Communications 10-K. Emmis Communications. Web.
“Emmis Announces International Expansion of HOT 97 Summer Jam.” PR Newswire. PR Newswire, n.d. Web.
“Emmis Communications Income-statement 2016-Q3.” Emmis Communications Quarterly Income Statement 2016 Q3, 2016 Q2. Amigo Bulls, n.d. Web. 25 Apr. 2016.
“HOT 97 | Where Hip Hop Lives.” HOT 97 | Where Hip Hop Lives. Emmis Communications, n.d. Web. 25 Apr. 2016.
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CBS Corporation

Posted on November 4, 2013 by Gabrielle Sferra

By Gabrielle Sferra

Courtesy of CBS Corporation [1]

CBS Headquarters

51 W. 52nd Street
New York, NY 10019-6188
1-212-975-4321

History

CBS Corporation is a major media conglomerate founded by William S. Paley in 1928. While the company originated in radio broadcasting, television broadcasting soon became CBS’s area of success. Historically, programs such as “I Love Lucy”, “Gunsmoke“, and “All in the Family” catapulted CBS into profitable success [2]. In 1995, Westinghouse Broadcast bought CBS and sold it again in 2000. Viacom and CBS Corporation were considered a unit since 1970, but in 2006, the company split into two and CBS Corporation became what it is today [3].

Executives

Sumner M. Redstone

Courtesy of CBS [5]

Mr. Redstone is the CBS’s Executive Chairman of the Board, as well as Viacom’s. His role as executive chairman resulted from the split of the two companies in 2006. He is the leading shareholder in both companies. [4]

Leslie Moonves

Courtesy Of CBS [7]

Mr. Moonves is the President and Chief Executive Officer of CBS Corporation. He is responsible for all of the corporations holdings. He has held this position since the Viacom/CBS split in 2006. He has pushed the company to new limits, and brought the network and its various programs to more than 100 countries. [6]

Financials

Courtesy of Reuters [8]

CBS Corporation is a publicly traded company in NYSE exchange. The current value of share is $58.89. This past year, the stock price has steadily increased. Starting the year at a much smaller exchange rate ($37.98), each quarter has produced more profit than the previous [9]. This past quarter, the company has earned $3.6 Billion, which is an increase of 3% from last quarter [10].

Company Holdings

Courtesy of CBS Corp. [15]

CBS Corporation is responsible for many different stations, including, but not limited to, CBS Television, CBS News, The CW, Showtime, and The Smithsonian Channel. [11] CBS is consistently the number one station on broadcast television in total viewers. However, does not lead in viewers in the ideal 18-49 demographic [12]. CBS Television is definitely geared to a much older demographic. In recent years, with the introduction of programs such as “2 Broke Girls” and “Hawaii Five-0“, the network has been trying to breach this gap. However, their popular programs are also watched by the desired 18-49 demographic, contrary to popular belief [13] [14].

Successful Programs

The Big Bang Theory

Courtesy of Chicagonerds.com [21]

“The Big Bang Theory” is CBS Corporation’s number one comedy, consistently bringing in viewers every week [16]. The show premiered in September 2007. Syndication rights were bought by TBS and is currently the number one syndicated program, both off-network and first-run syndication [17]. Each episode costs TBS around $2 Million to air [18]. Before the show aired this September, three of the lead actors (Cuoco, Galecki, & Parsons) were bargaining for higher salaries, as they currently make $350,000 an episode. The negotiations have not begun yet, however [19]. Finally, the show appeals to many advertisors, as it is popular both within and outside of the 18-49 money demographic. Each 30 second spot costs aprox. $326,260, the second highest rate for primetime television, behind NFL Primetime Games [20].

How I Met Your Mother

Courtesy of TV Listings [24]

The popular series “How I Met Your Mother” will conclude this year in its ninth season. Syndication of the popular show began in 2008 with Lifetime Network. FX picked up syndication rights as well in 2011. The non-exclusive deal allows both networks to air the program. To air an episode, it costs $725,000 [22].

With the show concluding in May, CBS has just announced a spin-off called “How I Met Your Dad”, which will focus on the feminine version of the “How I Met Your Mother” story [23].

Fall Season

CBS introduced six new shows this season, including the new primetime hit The Crazy Ones, starring Robin Williams, and The Millers, starring Will Arnett. Other series, such as Hostages starring Toni Collette, and Mom, starring Anna Faris, have not pulled in high ratings. All of the new CBS shows, unfortunately, have been dropping audience numbers week-to-week [25].

Upcoming

Courtesy of Fansided.com [27]

CBS Corporation recently worked out a deal with Netflix to air the first four seasons of the hit show “Dexter“, in order to entice people to buy subscriptions to their network Showtime. The four seasons will be available until January 1, 2014, when they will be replaced by the next four season [26].

Another news program is in the early stages of production, as Charlie Rose and Gayle King may sign on to revamp the failing program “The Early Show.” During a block of daytime talk shows, CBS is interested in pursuing a hard-hitting news show to counter program. An announcement is expected anytime for the future of the two-hour program [28].

The CW Network has had a great season for CBS Corp., as the three new shows this season (“Reign“, “The Originals“, “The Tomorrow People“) were all picked up to finish their seasons in May. Nielsen says that ratings for the CW are up 9% from last year, averaging around 2 Million viewers. While the network’s target audience is a younger demographic, the 18-49 Demo is up 11% this year for the CW [29].

Courtesy of Youtube [30]

This past week, CBS became the first network of the season to sweep four straight nights of viewers in the 18-49 demo, as well as total viewers, from Tuesday to Friday [31].

CBS Fall Schedule:

Courtesy of The Wire [32]

Sources

[1] CBS Corporation Logo

[2] William Paley Obituary NY Times

[3] Dominick, Joseph R., Fritz Messere, Barry L. Sherman, and Joseph R. Dominick.Broadcasting, Cable, the Internet, and Beyond: An Introduction to Modern Electronic Media. New York: McGraw-Hill, 2012. Print.

[4]CBS Company Portfolio

[5] Ibid.

[6] CBS Company Portfolio

[7] Ibid.

[8] Reuters CBS Portfolio

[9] Wall Street Journal

[10] CBS Corporation Investor Profiles

[11] CBS Company Portfolio

[12] TV By The Numbers – Ratings CBS

[13] The Wire – CBS Demo

[14] TV By The Numbers – CBS 18-49 Demo

[15] CBS Company Portfolio