“A Quick Glance at Hollywood Balance Sheets, or Nielsen’s Montthly Gauge Report, Underscores Just How Challenging The Current Moment Facing Hollywood is. On the Gauge, YouTube and Netflix Dominate, with Seemingly Every of Other Streaming Service Fighting for Scraps, Perhaps Resigned to An Ever-SO-SLIGHT INCREASE IN A GOD. In their earnings reports, youtube”, – WRITE: www.hollywoodReporter.com
On the Gauge, YouTube and Netflix Dominate, with Seemingly Every of Other Streaming Service Fighting for Scraps, Perhaps Resigned to An Ever-SO-SLIGHT INCREASE IN A GOD. In their earnings reports, YouTube and Netflix Are Seeing their revenue and Cashflow Accelerate by Double Digits Were Either Flat, Down Slightly, Or Perhaps Sing Single Digit Growth if they have a good quarter.
Consider Paramount Global. Last Week It Reported that It Had Managed to Grow Revenue Year Over Year… by 1 Percent. A Challenging Market Indeed.
Since that Earnings Report, Paramount Now Finds Itself in New Hands: David Ellison, The Skydance Founder and Son of Tech Mogul Larry Ellison, and Gerry Cardinel, while red.
Speaking to Reporters Thursday Morning in Paramount’s New York Headquarters, It Was Clear That Ellison, Cardinale And Paramount’s New Leadership Believe that Seccess YouTube. Flounders Is Less About Content, and More Product.
“Unless you can Build A Tech Product that is Truley Competitive With What’s Coming Out of Silicon Valley, You Can’T compete,” Ellison Said Bluntly. “And that has been One of the Big Problems that’s Been Facing Legacy Media, Is They Don’t Actual Understand that Skill Set and How Critical That Is, And that Its Actual ACTCH. Product Hand in Hand, that is how you actuly get this business growing and scaling again, and you need bot. ”
“The MOST IMPORTANT THING A MODERN MEDIA COMPANY TODAY NEEDS to DO IS STOP KEEPING ITS HEAD IN THE SAND,“ CARDINALELE ADDEDED. “The World’s Not Going To Come To You, You Better Go Out and Grab It.”
There are signs that at least some in Traditional Media Are Aware of the Problem. Disney Ceo Bob Iger, for Example, Has Made No Secret of His Admration for Netflix’s Technical ProWES Business.
But Ellison and his team Think they can do One Better, Thought The Special Remain Tantalizingly Out of Reach.
“The Way He’s Approaching this will be the pace car for how the trees Kind of Assets Need to be Run,“ Cardinale Sayid of the Plan. “This is not a nice to have, this is a need to have a moment in Hollywood. You have a Balkanized Sitation Between Technology and Content, Between Silicon Valley and Hollywood to Blend that, that’s what needs to happen. ”
Hew on to Shade the Late Sumner Redstone, Whose Motto “Content Is King” was memorialized by his daughter Shari Redstone in Her Last Earnings Call as The Owner of Paramount. As Many Media Executives Will Grudgingly Admit, Despite The Talk of Content Being, The Last FEW DECADES HAVE BEEN ABOUT DISTRIBUTION BEING, WITH PAY-TV Transforming. Cardinale Believes that Technology can shift that balasce of Power Back to Creatives.
“Everyone Talks About Content Being King, I would Tell You, Doing This for 35 Years, We’re Just Now at the Point Where Content Has A Chance to Be King,“ Cardinale Said.
That starts with a philosophy that Embraces Change. “We’re not going to be afraid of technology, we’re going to embrace it,” Ellison Says, But It Is Also An Acknowledge of the Cold Hard Reality of Modern Media. Or as Jeff Shell, Paramount’s New President Explained: “We All Believe That You Can Youar Way to Growth in this Business. You have to invest.”
WHERE THAT INVESTMENT FLOWS WILL BEING THING TO Watch As Ellison and His Team Roll Over Plan the Coming MONTS. Streaming is a big part of it, and so is gaming, Thought the Executives Also Said that some “Block and Tackle” Things Need to Adredressed FIRST, LIKE MERGING The Company’s Streaming Services.
“There is a Lot of Plumbing,” Shell Adds, Noting that It May not be as sexy as movies or tv shows, but is in many Ways More Important to the Future of the Business.
Ellison Was Coy About His Plans for Paramount+, But Suggested That Company Wuld Be Open to Dealmaking.
“WHEN YOU THINK About Streaming Applications Evolve Over The Next Year, They’re Not Going To Look Identical To Whaty To To Today. We’re Going To Always Look to Ana. Forefront of that. “SO it is Critical For the Success of the Business to Be Able to Scale Paramount+ Into a Trly Direct, Global Scale Streaming Product. What I would Say is wee.
And heemed excited about the props of artificial intelligence to Turbocharge Production While Lowering Costs.
“I DON’T THINK AI IS A REPLACENT FOR CREATIVITY. IT’S ACTUALLY QUITE The OPPOSITE,” Ellison Says. “The thing has been Really Problematic from My Perspective in Media, Is People Thinking That Technology Is Something to Be Feared. It Fourth, Fifth on Our Priority List, We Are A Storytelling Company First. ”
And Cardinale, The Veteran Investor Begind Artists Equity and Other Media and Entertainment Ventures, Believes that Ellison Has Unlocked the Vision Necessary to Actual Execute on that.
“The thing was so interest to me was skating about the Puck’s Going on Technological Sophistication and the Application of that for Monetizing Content in the New World, Cardinale Said. “News Flash, from My StandPoint, I DON’T THINK The Silicon Valley Guys Are The Guys That Should Own Original Content Production Something and sit there and Think is going to take care of ittself.
Ellison, for his part, appears prepared to break paramount apart in order to put it all together again.
“We’re Putting Our Money Whoy Our Mouth is,” Ellison Said. “We’re not focused on whore are we in throne month Great Result.