Skydance Media’s David Ellison and incoming Paramount leaders, including former NBCUniversal CEO Jeff Shell, presented their strategic vision for Paramount Global in a call with Wall Street analysts. The discussion highlighted their ambitions to transform Paramount into a “tech hybrid” and capitalize on streaming opportunities.
Ellison emphasized Skydance’s role in enhancing Paramount’s content capabilities, blending storytelling expertise with technological innovation. Central to their strategy is leveraging Skydance’s partnership with Oracle and Ellison’s mentorship from Apple’s Steve Jobs to bolster Paramount’s position in the evolving media landscape.
Streaming was a focal point of the discussion, with Shell outlining a three-pronged approach that includes refining content strategies and exploring efficient distribution models. Shell expressed openness to partnerships to strengthen Paramount’s Direct-to-Consumer (DTC) presence, aiming to position the company as a leader in the entertainment industry.
The executives highlighted their commitment to enhancing Paramount+, with plans to overhaul the platform’s technology infrastructure, including recommendation engines and advertising technology. Ellison stressed the importance of integrating technology with media to navigate the competitive media landscape successfully.
Regarding Paramount’s linear business, Shell outlined strategies to manage decline while optimizing profitability and elevating cable brands. They announced identifying $2 billion in cost efficiencies as part of their restructuring efforts.
The deal, which involves Skydance acquiring National Amusements from Shari Redstone, positions Ellison as CEO and Shell as president of the combined entity once regulatory approvals are secured.
Overall, the executives conveyed their determination to innovate and lead in the DTC space, emphasizing Paramount’s pivotal role in their streaming strategy moving forward.
