Business

ViacomCBS unveils new Paramount leadership team, with new focus on streaming

ViacomCBS Inc. unveiled a brand new administration crew and working construction for its iconic Paramount Footage film and tv manufacturing unit that Chief Govt Bob Bakish stated would higher place it for the streaming period.

Among the changes anticipated on account of the realignment is a larger push for Paramount to create content material solely for its Paramount+ streaming service and different ViacomCBS
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+1.83%

networks and streaming platforms, individuals acquainted with the corporate’s pondering stated.

“The strikes we’re making right now will construct on Paramount’s robust momentum, making certain it continues to have interaction audiences at scale whereas embracing viewers’ evolving tastes and habits,” Bakish stated in an announcement Monday.

Paramount Footage underneath the brand new construction will probably scale back by about half the variety of theatrical releases it sometimes makes in a given yr, stated one of many individuals acquainted with the corporate’s pondering. Paramount Footage had been focusing on making at the very least a dozen theatrical releases yearly, the individual stated.

On the tv aspect, Paramount Tv Studios will put extra give attention to creating reveals for its personal sister companies reminiscent of Paramount+ and its cable networks together with the Paramount Community, the individuals acquainted with the corporate stated. That could be a shift from its present technique which has made it a prolific provider to companies reminiscent of Netflix
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 and Apple
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+0.39%

 TV+, an method some Wall Road analysts have cheered.

An expanded version of this report appears on WSJ.com.

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https://www.marketwatch.com/story/viacomcbs-unveils-new-paramount-leadership-team-with-new-focus-on-streaming-11631578872?rss=1&siteid=rss | ViacomCBS unveils new Paramount management crew, with new give attention to streaming

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