New York, New York 10036
Sumner M. Redstone: Founder and Chairman of the Board of Directors since 2006. He also serves as the Executive Chairman of CBS .
Philippe Dauman: President and CEO since 2006 .
Thomas E. Dooley: Chief Operating Officer since 2010. He previously served as the CFO .
Robert Bakish: President and CEO of International Media Networks since 2011. He oversees all media networks outside of the United States .
Brad Grey: CEO of Paramount Pictures since 2005. Grey oversees the entire branch of Paramount Pictures .
A Brief History
In 1971, Viacom was formed by breaking off from CBS; it then merged with Warner Communications in 1983 . It bought MTV in 1986, and then merged with Paramount Communications in a nearly $10 billion agreement . The VIA stock became available to be bought and sold in the NYSE in 1999 . CBS, the company it came from, and Viacom merged in a nearly $40 billion merger in 2000 . In the next few years, it purchased BET, Noggin, Comedy Central, TNN, and more . CBS and Viacom then split again in 2006 . Also in 2006, Paramount acquired Dreamworks LLC, and MTV then partnered with Warner Music group . Most recently, in 2011, Viacom International Media Networks was created .
Viacom has many diverse assets, and therefore produces a lot of varied programming in different markets. It owns 205 television channels, spanning over 169 territories and in nearly 40 different languages . It also owns Paramount Pictures, a big player in the film industry, and has released films of all types, such as The Adventures of Tintin and Paranormal Activity, that reach varied demographics.
In the cable television market, Viacom has many different assets. These networks are very different and, again, reach many different audiences. Some of their major assets include MTV and Nickelodeon, which reach a younger audience, Comedy Central, Spike, and BET, which reach an adult audience, and TV Land, which reaches an older audience. Each network plays very different programming. VH1 and MTV play both shows about popular music and reality shows, with series such as Buckwild on MTV and Top 20 Video Countdown on VH1. Comedies of all different types are played on Comedy Central, such as The Colbert Report, and TV Land offers a lot of reruns of old shows and some original programming. Networks such as CMT (Country Music Television) and BET (Black Entertainment Television) also reach very specific demographics. Nickelodeon is the #1 cable network for seventeen years, showing the success of their networks .Viacom has a lot of competitors, some of which include NBCUniversal, Time Warner, and Walt Disney . Still, it is a leader in the cable television market .
During the first quarter of 2013, Viacom had a revenue of $3.314 billion, which includes $2.394 billion from media networks and $975 million from films . This number is down 16% from last year’s first quarter . However, media networks hardly decreased, down only 2%; this decrease is mainly due to filmed entertainment, which is down nearly 40% . MTV is the network with the highest revenue, at around $548 million, with Nickelodeon following at around $357 million .
Viacom has been in the news recently due to two major cases. First of all, Cablevision, a big cable TV service provider, is suing Viacom for bundling its channels and charging more for single channels . This has, however, been its practice for a very long time. Also, last year, the case starting in 2007, in which Viacom sued Youtube, the popular website where users can upload their own videos, saying that some of its content infringed on Viacom”s copyright, was revived . This case is still going on today.
Viacom also, however, has had a lot of positive things going on recently. VH1’s ratings in adult viewership raised 33% in 2012 . It also has a lot of new shows airing this season, including Best Week Ever and The Jenny McCarthy Show, and new episodes of older shows, such as the very successful Mob Wives.
Also, the 26th Annual Kids’ Choice Awards, airing on March 23rd, drew an audience of nearly 6 million viewers with just the premiere, boosting Nickelodeon’s ratings greatly . The 2013 MTV Movie Awards are set to air April 13th, which should also boost MTV’s ratings.
Digitally, Viacom is working on a lot of new technology in order to better the viewer experience. The new Star Trek into Darkness app allowed app users to get tickets to an early showing of the film . Also, Spike TV, a cable channel, has created a new app for using while viewing Bellator MMA, a mixed martial arts fighting tournament. The app allows veiwers to interact with the show in a way not used with other second screen apps, using results from judging on the app in the live show .
6. Brad Grey
17. Yahoo Finance