Paramount Global

Delivers premium content to audiences across platforms worldwide. They connect with billions of people through their studios, networks, streaming services, live events, merchandise, and more

Categories

Media and Communications  

#1485

Rank

$10.49B

MarketCap US

US United States

Country

Summary

Paramount Global, formerly known as ViacomCBS Inc., is an American multinational mass media and entertainment conglomerate. It is controlled by National Amusements and is headquartered in Midtown Manhattan, New York City. The company was formed on December 4, 2019, through the merger of CBS Corporation and Viacom.

Paramount Global owns various properties in the entertainment industry. Its main divisions include Paramount Pictures, the CBS Entertainment Group, media networks  (such as MTV, Nickelodeon, BET, Comedy Central, VH1, CMT, Paramount Network, and Showtime), and streaming services (including Paramount+, Showtime OTT, and Pluto TV). The company also has an international division that manages international versions of its pay TV networks and owns region-specific assets in different countries. Some of Paramount Global's subsidiaries include Bellator MMA, Simon & Schuster (a publishing company), and VidCon (a conference for online video content creators).

 As of 2022, Paramount Global has over 170 networks and reached approximately 700 million subscribers in 180 countries. The company generates revenue through various sources, including licensing, broadcasting, publishing, streaming, and television. On February 16, 2022, ViacomCBS Inc. changed its name to Paramount Global. The company continues to be a major player in the media and entertainment industry, producing films, television programs, music, and books, and providing various services to consumers worldwide.


History

Paramount Global, formerly known as ViacomCBS, is an American media and entertainment conglomerate with a storied history that spans over a century. Established in 1914 as Paramount Pictures., the company quickly rose to prominence as a leading film studio, captivating audiences with exceptional cinematic offerings.  

In 1929, Paramount Pictures, then a part of Paramount Famous Lasky Corporation, provided vital financial support to CBS Inc., a recently established entity known as Columbia Broadcasting System. This strategic alliance proved instrumental in CBS's growth as an entertainment company, particularly in the emerging domain of television broadcasting.

In 1966, Paramount Pictures underwent a change in ownership when Gulf + Western Industries acquired the studio. The acquisition led to the rechristening of the company as Paramount Communications, signifying its expanded scope beyond film production and distribution.

Recognizing the evolving landscape of media consumption, CBS made a significant move in 1971 by establishing Viacom as a separate entity to oversee its growing portfolio of cable television channels. Viacom swiftly acquired notable brands such as MTV, Nickelodeon, and Showtime, positioning itself as a dominant force in the television industry.

However, financial challenges prompted CBS to divest several properties in 1987, resulting in Viacom becoming a wholly owned subsidiary of National Amusements, Inc., a prominent media and theatre company owned by the Redstone family. Under the stewardship of National Amusements, Viacom continued to expand its reach and influence in the entertainment realm.

In a transformative move in 1994, Viacom acquired Paramount Communications and its various divisions, including the renowned Paramount Pictures. This merger brought together two formidable entities, solidifying Viacom's position as a powerhouse with a diverse portfolio spanning film, television, and other entertainment ventures.

Meanwhile, CBS Corporation embarked on its own trajectory when it was acquired by Westinghouse Electric Corporation in 1995. This transaction led to the establishment of CBS Corporation as a distinct entity, operating independently from Viacom.

The year 2000 marked a significant milestone as Viacom, under the leadership of its CEO Sumner Redstone, orchestrated a historic $35 billion acquisition of CBS Corporation, reuniting the two companies. This landmark merger created a comprehensive media entity with an extensive presence across television networks, cable channels, and film studios.

However, recognizing the need for strategic autonomy, Viacom and CBS Corporation underwent a demerger in 2006, resulting in the formation of two distinct companies. Both entities remained under the control of National Amusements, Inc., with Paramount Pictures continuing to be a part of Viacom's operations.

The enduring connection between Viacom and CBS Corporation resurfaced in 2019, as the two entities decided to merge once again, reestablishing their collective strength and influence. The resulting conglomerate assumed the name ViacomCBS, embodying the rich heritage and shared legacy of the two brands.

In a subsequent rebranding effort in 2022, the company transitioned to Paramount Global, embracing the iconic Paramount brand and emphasizing its global reach. Headquartered in New York City, Paramount Global retains a strong foothold in the media and entertainment landscape, with a primary focus on film and television, including the rapidly growing streaming services sector.

With a diverse and extensive portfolio, Paramount Global continues to captivate audiences worldwide, delivering exceptional content that resonates with viewers across various platforms. Drawing upon its extensive history and expertise, the company remains at the forefront of the industry, navigating the ever-changing landscape of media and entertainment with innovation, creativity, and a commitment to excellence.


Mission

Our mission is to provide the highest quality services to clients, always striving to exceed their expectations. We strive to be the leading global business organization, providing creative and innovative solutions that allow businesses to succeed and excel in an ever-changing world.

At Paramount Global, our mission is to create exceptional entertainment experiences that captivate and inspire audiences worldwide. We strive to deliver compelling content across various platforms while fostering a culture of creativity, innovation, and inclusivity. We are committed to making a positive impact on the communities where we operate and leveraging our resources to empower and engage our employees, audiences, and stakeholders.


Vision

We envision a future where businesses can confidently move forward, with Paramount Global as their partner. We aim to be the leader in global business solutions, offering a portfolio of services that meet the needs of today’s businesses.

Our vision is to be a global leader in the media and entertainment industry, known for our exceptional storytelling, cutting-edge technology, and commitment to social responsibility. We aspire to be the preferred choice for audiences seeking immersive and transformative entertainment experiences. Through our diverse portfolio of films, television shows, streaming services, and live events, we aim to enrich the lives of individuals and make a lasting difference in the communities we serve.


Key Team

Ms. Nancy Ramsey Phillips (Exec. VP & Chief People Officer)

Ms. Jo Ann Ross (Chairman of Paramount Advter.)

Ms. Doretha F. Lea (Exec. VP of Global Public Policy & Gov. Relations)

Mr. Stephen D. Mirante (Exec. VP & Chief Admin. Officer)

Ms. Katherine M. Gill-Charest (Exec. VP, Controller & Chief Accounting Officer)

Mr. Anthony Joseph DiClemente Jr., C.F.A., Jr. (Exec. VP of Investor Relations)

Mr. Philip R. Wiser (Exec. VP & CTO)


Recognition and Awards
Paramount Global has been recognized over the years for its work and dedication in the global business industry. We have been honored with numerous awards, such as the Global Business Excellence Award, the President’s Award and the Business Achievement Award. We are proud to have been recognized as one of the world’s leading business organizations.

Products and Services

Paramount Global, as a major media and entertainment conglomerate, offers a wide range of products and services that cater to diverse audiences. With a primary focus on film and television, including streaming services, Paramount Global delivers compelling content across various platforms. Here are some of the key products and services offered by Paramount Global:

  • Film Production: Paramount Global, through its subsidiary Paramount Pictures, produces and distributes feature films for theatrical release. It has a rich history of creating blockbuster movies that captivate audiences worldwide.
  • Television Programming: Paramount Global develops and produces a diverse range of television shows, catering to various genres and formats. These programs are broadcast on traditional television networks as well as streaming platforms.
  • Streaming Services: Paramount Global operates streaming platforms that provide on-demand access to a vast library of movies, TV shows, and original content. These services allow subscribers to stream their favourite Paramount films and television series anytime, anywhere.
  • Cable Networks: Paramount Global owns and operates several cable networks, including MTV, Nickelodeon, Comedy Central, BET, and Showtime. These networks offer a wide array of programming, spanning music, comedy, reality TV, dramas, and more.
  • Digital Media: Paramount Global engages in digital media production and distribution, leveraging online platforms and digital technologies to reach a broader audience. It creates digital content tailored for social media, websites, and other digital platforms.
  • Merchandise and Consumer Products: Paramount Global licenses its intellectual property, characters, and brands to create a range of consumer products. These include merchandise, apparel, toys, collectables, and other branded items that fans can purchase to show their support for their favourite movies and TV shows.
  • Live Events and Experiences: Paramount Global organizes and promotes live events and experiences, such as movie premieres, fan conventions, immersive exhibitions, and interactive entertainment. These events provide fans with unique opportunities to engage with their favourite franchises and content.
  • International Distribution: Paramount Global has a strong international presence and engages in the distribution of its content globally. It partners with various international distributors and broadcasters to bring its movies and television shows to audiences around the world.

References
Paramount Global
Leadership team

Mr. Robert Marc Bakish (Pres, CEO & Director)

Mr. Naveen Chopra (Exec. VP & CFO)

Ms. Christa A. D'Alimonte (Exec. VP, Gen. Counsel & Sec.)

Industries

Media and Communications

Products/ Services
Film Production Television Production Streaming Services Live Events and Entertainment Licensing and Merchandising Advertising and Marketing Home Entertainment Digital Content Creation
Number of Employees
20,000 - 50,000
Headquarters
1515 Broadway, New York, NY 10036, USA
Established
2019
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000813828
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
PARA
Social Media

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Sat Feb 24 2024
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