ViacomCBS CFO Naveen Chopra — asked Tuesday about Paramount’s management shakeup — said outgoing studio CEO Jim Gianopolus “leaves some very big shoes to fill. There is no doubt he has …
Television Studios. Chopra called it “a very accretive move for us” — CFO speak — and said Nevis has “incredible track record of creating culture-defining content that is both commercially successful and critically acclaimed and now he will be able to do that with an even broader purview.”“At the end of the day we are a content company and what Brian and David will be able to do is to take our content to the next level to feed multiple parts of our business.
“Movies are extremely important to us and continue to be a very unique storytelling media that are critical to developing franchises and really being able to connect to audiences. Movies have always had the ability to be monetized through various different channels, and the difference is that today we have more distribution options for films than we ever had.
Chopra reiterated plans to boost streaming content spend to $5 billion by 2024 from $1 billion last year, and an estimated $2 billion-plus this year and said streaming revenue should more than offset declines in linear affiliate revenue. “We strongly believe that streaming is a net addition to our business, not a replacement.”
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