{"id":24268,"date":"2015-04-17T18:23:04","date_gmt":"2015-04-17T22:23:04","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=24268"},"modified":"2015-04-17T18:23:04","modified_gmt":"2015-04-17T22:23:04","slug":"paramount-pictures-11","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2015\/04\/17\/paramount-pictures-11\/","title":{"rendered":"Paramount Pictures"},"content":{"rendered":"
by ARACELI GUTIERREZ<\/pre>\n
\"[25]<\/a>
[25]<\/a> Paramount Pictures Logo<\/p><\/div>\n
PARAMOUNT PICTURES
\n<\/b>5555 Melrose Ave, Los Angeles, CA
\n<\/b>www.paramount.com<\/b><\/a><\/p>\n
HISTORY<\/b><\/p>\n
Paramount Pictures has been in show business for 103 years, making them one of America’s oldest motion picture companies. Adolph Zukor, Jesse L. Lasky and Cecil B. DeMille are credited as Paramount’s principal founding fathers. Today, this corporation is a subsidiary of Viacom, a global mass media firm. The company has produced classics like “Titanic”, which had a domestic gross of $658.6 million and worldwide gross of $2.18 billion [1]<\/a>.<\/p>\n
Key Executives:<\/strong><\/span><\/p>\n
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\"Brad<\/a><\/dt>\n
[2] <\/a>Brad Grey, Chairman & CEO<\/dd>\n<\/dl>\n
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[3]<\/a> Rob Moore, Vice Chairman, Paramount Pictures<\/dd>\n<\/dl>\n
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[4] <\/a>Frederick Huntsberry, Chief Operating Officer, Paramount Pictures<\/dd>\n<\/dl>\n
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[5]<\/a> Marc Evans, President, Motion Picture Group at Paramount Pictures<\/dd>\n<\/dl>\n
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[6]<\/a> Amy Powell, President, Paramount Television and Digital Entertainment<\/dd>\n<\/dl>\n
FINANCIALS<\/strong><\/p>\n
\"Spongiebob.Logo_.1.www_.download.ir_\"<\/a>
[7] <\/a> “The SpongeBob Movie: Sponge Out of Water”<\/p><\/div>During this year\u2019s first quarter, Paramount Pictures was ranked 5th for top grossing production companies, with a total gross of $274.6 million, which puts them in control of 9.8% of the current market share [8]<\/a>. \u00a0They hold\u00a0an average gross of $39.2 million per release over the course of its 7 releases so far in 2015 [9]<\/a>[10]<\/a>. \u00a0Its second-highest grossing release, “Selma”, was a contender at the Academy Awards earlier this year. The movie made\u00a0$50.8 million domestic. So far, \u201cThe SpongeBob Movie: Sponge Out of Water\u201d is their biggest hit, with a domestic total of $161.3 million, more than double of its $74 million production budget. With a small production budget of $12 million, \u201cProject Almanac\u201d also did well\u00a0with a $22.3 million domestic total.<\/p>\n
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[26] <\/a>TubiTV<\/p><\/div>\n
Paramount Pictures has seven\u00a0future releases, one of them being animation, two action, and four of the horror\/thriller genre\u00a0[11]<\/a>. Also, Tubi TV, a free but ad-supported streaming service, and Paramount Pictures joined a licensing agreement to bring more than 50 classic feature films from the studio’s library to the company’s video apps\u00a0[12]<\/a>. Some films featured on Tubi TV include fan-favorites such as “Top Gun”, “Basic Instinct”, “Star Trek: The Final Frontier”, and other recent releases from the past two years.<\/p>\n
Their parent company,\u00a0Viacom Inc., underwent some restructuring in March, which included cutting jobs, abandoning some acquired titles and reorganizing three of its domestic network groups into two new organizations\u00a0[13]<\/a>. Paramount Pictures took a related pre-tax charge of about $785 million by\u00a0the end of the quarter (March 31).<\/p>\n
MARCH MADNESS: NEW CHANGES<\/b><\/p>\n
March was a busy month for Paramount Pictures.<\/p>\n
On March 16, Paramount Pictures announced Marc Evans as the new president of Paramount\u2019s Motion Picture Group to replace Adam Goodman, who was let go in early March [14]<\/a>. Goodman had a year left on his contract. As a part of his exit package, Goodman was offered a production deal with Paramount. \u00a0Evans has been a part of the Paramount family for 12 years now and recently served as president of production since 2010. Evans is expected to increase the studio\u2019s output of feature film releases.<\/p>\n