Friday, August 09, 2024

Classic Rugrats Comic Strip for August 9, 2024 | Nickelodeon

Classic Rugrats Comic Strip for August 9, 2024 | Nickelodeon

Classic Rugrats Comic Strip for August 9, 2024 | Nickelodeon

Stream the classic Rugrats series on Paramount+! Try it FREE at ParamountPlus.com!

Rugrats, provided to Creators Syndicate by Nickelodeon, based off the popular animated television series has been created for children and family's to laugh and enjoy together.

Follow these comics and their take on real episodes of the show and their own spin on hilarious adventures.

Read more Rugrats comic strips!: https://www.creators.com/features/rugrats

More Nick: Paramount+ Renews 'Rugrats' For Season 3!
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Paramount to Release 'Monster High 2' on DVD on August 13

THE LIVE-ACTION MONSTER HIGH HIT IS BACK WITH A SECOND MOVIE COMING TO DVD!

MONSTER HIGH 2

Available on DVD August 13, 2024

Monster High 2

LOS ANGELES – July 16, 2024 – Follow best friends Clawdeen Wolf, Draculaura, and Frankie Stein into their sophomore year at Monster High in the brand-new DVD Monster High 2! This live-action movie musical reprises your favorite fang-tastic characters for a new generation, upping the ante on each character’s commitment to individuality and self-expression.  Get ready for more original songs, new characters, and adventures that will take you into the halls of Monster High and beyond!

Monster High 2 will be available on DVD from Paramount Home Entertainment on August 13, 2024, for the suggested retail price of $10.99. Pre-order today at Amazon.com.

Monster High 2 synopsis:

Sophomore year brews lots of changes for Monster High. The power of three is put to the test as Clawdeen, Draculaura, and Frankie face monstrous challenges this year – new students, new powers, evolving friendships, and a mysterious threat that could not only tear their friendship apart, but also change the world forever.

Special Features

  • Original Songs From The Movie:
    • "My Heart Goes Boom Boom Boom" Official Lyric Video
    • "You Don’t Know" Official Lyric Video
  • Making Of Monster High 2            
  • Monster High 2 Character Breakdown    
  • Monster High 2 Star Journey    

'Monster High 2' DVD Cover Art

A scene from 'Monster High 2'

A scene from 'Monster High 2'

A scene from 'Monster High 2'

Paramount Pictures and Nickelodeon logos

About Nickelodeon

Nickelodeon, now in its 45th year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The brand includes television programming and production in the United States and around the world, plus consumer products, digital, location-based experiences, publishing, and feature films. For more information or artwork, visit http://www.nickpress.com. Nickelodeon is a part of Paramount’s (Nasdaq: PARA, PARAA) global portfolio of multimedia entertainment brands.

About Mattel

Mattel is a leading global toy and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends™, UNO®, Masters of the Universe®, Matchbox®, Monster High®, MEGA® and Polly Pocket®, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential. Visit us at mattel.com.

About Paramount Home Entertainment

Paramount Home Entertainment (PHE) is part of Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment.  PPC is a unit of Paramount (NASDAQ: PARA, PARAA), a leading global media and entertainment company that creates premium content and experiences for audiences worldwide.  The PHE division oversees PPC’s home entertainment and transactional digital distribution activities worldwide. The division is responsible for the sales, marketing, and distribution of home entertainment content on behalf of Paramount Pictures, Paramount Animation, Paramount Television Studios, Paramount Players, MTV, Nickelodeon, Comedy Central and CBS and applicable licensing and servicing of certain DreamWorks Animation titles.  PHE additionally manages global licensing of studio content and transactional distribution across worldwide digital distribution platforms including online, mobile and portable devices and emerging technologies.

About Paramount Pictures

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Paramount (NASDAQ: PARA, PARAA), a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Paramount Pictures controls a collection of some of the most powerful brands in filmed entertainment, including Paramount Pictures, Paramount Animation, and Paramount Players. PPC operations also include Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., and Paramount Studio Group.

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Stream a Mountain of Entertainment, including your Nickelodeon favorites on Paramount+! Try it FREE at ParamountPlus.com!


Originally published: August 09, 2024.

Original source: Chatty Patty's Place.
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Celebrate 25 years of SpongeBob SquarePants at Adventure Aquarium In Philadelphia

In honor of 25 years of SpongeBob SquarePants, Adventure Aquarium has partnered with Nickelodeon to bring the nautical nonsense to the Philadelphia area. From July 15 through September 15, Adventure Aquarium will host an immersive SpongeBob experience with photo ops, SpongeBob-themed kid's activities, episode screenings, and more.

SpongeBob SquarePants 25

"Who lives in a pineapple under the sea" and turning 25 years old? SpongeBob SquarePants! 

In honor of SpongeBob SquarePants' 25th anniversary, New Jersey's Adventure Aquarium has partnered with Nickelodeon to bring the celebration to the Philadelphia area.

Adventure Aquarium is offering two months of nautical nonsense in honor of a cartoon sea critter who lives in a pineapple under the sea.

The Camden aquarium is celebrating the 25th anniversary of the beloved Nickelodeon animated series with a family-friendly immersive experience available through Sunday, Sept. 15. The festivities will include SpongeBob-themed activities for Bikini Bottom residents of all ages.

"Just like SpongeBob, we find wonder in every corner of the ocean," Jennifer Porter, executive director of Adventure Aquarium, said in a release. "We invite our guests to join us this summer and dive into a sea of nostalgia and discovery. This special celebration will commemorate SpongeBob’s decades-long legacy that spans generations and blends imagination with education, creating an unforgettable experience for guests."

At the aquarium, visitors can snap photos with two SpongeBob-themed photo opportunities. They can also watch an episode of SpongeBob SquarePants on the big screen in the aquarium's 3D Theater, or pick up a SpongeBob SquarePants Earth Goal activity sheet to learn how to make eco-conscious choices that benefit real-life sea creatures.

SpongeBob SquarePants first premiered on Nickelodeon in the summer of 1999, introducing the world to the adventures of Krusty Krab fry cook SpongeBob along with iconic characters like Patrick Star, Squidward Tentacles, Mr. Krabs, Sandy Cheeks and Plankton. The animated series has reigned as the most-watched animated series for 22 consecutive years. 

SpongeBob SquarePants 25th Anniversary
Now through Sunday, Sept. 15
Times vary | General admission starts at $27.99
Adventure Aquarium
1 Riverside Drive, Camden, NJ

What To Expect

FIN-TASTIC PHOTO OPS 📷
Snap a photo at one of two SpongeBob-themed photo ops.

SPONGEBOB ON THE BIG SCREEN 🎥
Pop by the 3D Theater to catch an episode of SpongeBob SquarePants!

ABSORBENT ACTIVITIES 📝
Save our Oceans! Pick up one of the SpongeBob SquarePants Earth Goal activity sheets and challenge yourself to make eco-conscious decisions that help our aquarium residents and those living in Bikini Bottom!

ACT LIKE A SPONGE SUSTAINABILITY EDUCATION ♻️
Learn how you can help protect our waterways with SpongeBob through tips for practicing sustainability.

Check out AdventureAquarium.com to book your reservations today.

Watch the SpongeBob SquarePants Universe, including Kamp Koral: SpongeBob's Under Years and The Patrick Star Show on Nickelodeon and Paramount+! Try it FREE at ParamountPlus.com.


Listen to The SpongeBob Musical here!

CALLING ALL GOOFY GOOBERS! (ROCK!) Are ya ready for a deep dive into the world of SpongeBob SquarePants? The SpongeBob YouTube channel is THE PLACE for all fan-favorite SpongeBob moments! Subscribe now at https://www.youtube.com/SpongeBobOfficial!


Originally published: August 09, 2024.

Original sources: PhillyVoice, NBC10 Philadelphia.
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August 2024 on Nickelodeon Africa

For the month of August, Nickelodeon Africa has reeled out its tricks and treats available for the whole family with a lineup of adventures, and thrilling cartoons.

SpongeBob SquarePants celebration

Nickelodeon has an electrifying line-up that will take you on unforgettable adventures, create heart-warming family fun, and deliver loads of drama that’ll keep you on the edge of your seat.

Here’s a sneak peek of what’s in store:


Rev your engines because the Autobots and Terrans are back! One year later, the Autobots and Terrans race against the Decepticons to collect the shards of the Emberstone before the mysteries buried beneath their sleepy town remerge to cause chaos.

Check out what these intelligent robots are up to every weekend from Saturday, 6 July till Sunday, 4 August, at 10:45 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.

SpongeBob SquarePants ‘Get the Party Started’ Stunt

Bikini Bottom’s boomin’, the party’s in full bloom! Join SpongeBob and his friends in “Get the Party Started!” It’s a laugh-a-minute marathon with the funniest episodes, wackiest adventures, and epic underwater party scenes — even Patrick can’t mess it up.

Don’t miss out on the fun, this parties for everyone! Mark your calendars, the underwater bash premiers every weekday from Monday, 5 August till Friday, 30 August at 10:00 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.


Join SpongeBob, Patrick, and the rest of the Bikini Bottom gang on brand-new adventures that will make you laugh your socks off! Tune in from Monday, 22 July to Thursday, 1 August at 14:00 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.


Follow the adventures of Frankie Stein, Draculaura, Clawdeen Wolf and other mythical monsters as they try to make sense of learning at Monster High.

Catch new episodes of their adventure every weekday from Monday, 12 August, to Friday, 23 August, at 15:30 WAT on Nickelodeon, Channel 305 on DStv and Channel 87 on GOtv.


Get ready for summer fun at Kamp Koral! Join a ten-year-old SpongeBob SquarePants and his friends Patrick Star, Sandy Cheeks, and Squidward as they spend their days catching jellyfish, building campfires, and swimming in the gooey Lake Yuckymuck.

Catch all the mischief and adventure from Monday, 26 August to Friday, 20 September at 14:00 WAT on Nickelodeon Channel 305 on DStv and Channel 87 on GOtv.

Nick Jr.


Buckle up for some pawsome rescues and join the PAW Patrol team as they embark on special missions. Whether it’s Aqua Pups, Big Truck, Ultimate Rescue, or Mighty Pups, these three weeks will be filled with action-packed adventures.

Tune in every weekday from Monday, 15 July to Friday, 2 August, at 04:00 WAT, 06:50 WAT,11:45 WAT, 16:00 WAT, 18:50 WAT, and 23:45 WAT on Nick Jr. Channel 307 on DStv and Channel 81 on GOtv.


Join Blaze, the coolest monster truck around, and his partner-in-crime, AJ, as they navigate a world brimming with science, technology, engineering, and maths adventures!

Catch all-new episodes airing daily from Monday, 5 August till Sunday 11, August at 02:30 WAT, 06:25 WAT, 11:00 WAT, 14:30 WAT, 18:25 WAT and 23:00 WAT on Nick Jr. Channel 307 on DStv and Channel 81 on GOtv.


Join Dora, the Pups, and the Machines as they embark on wild jungle adventures you won’t forget! Catch all the action-packed episodes over two thrilling weekends, from 17 August to 25 August.

Tune in at 04:00 WAT, 06:50 WAT, 11:45 WAT, 16:00 WAT, 18:50 WAT, and 23:45 WAT on Nick Jr., Channel 307 on DStv and Channel 81 on GOtv. Don’t miss out on the jungle fun!


Max has an unlikely pet, Sharkdog, who’s part shark, part dog. At first, Max tries to keep Sharkdog a secret, but in Foggy Springs, best friends, nosy neighbours, and even Max’s parents are bound to notice his new, rambunctious best friend.

Don’t miss the fun! Catch new episodes every weekday from Monday, 1 July, to Friday, 26 July, at 03:45 WAT, 09:15 WAT, 15:45 WAT and 21:45 WAT on Nick Jr., Channel 307 on DStv and Channel 81 on GOtv.

NickToons

Transformers: EarthSpark

Rev your engines because the Autobots and Terrans are back in action! One year later, they’re racing against the Decepticons to gather the shards of the Emberstone before long-buried mysteries in their sleepy town reemerge to unleash chaos.

Catch the premiere every weekend from Saturday,6 July, to Sunday, 4 August, at 10:30 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

Don’t miss out on daily episodes from the previous season, with new episodes included every weekday from Monday, 22 July to Friday, 6 September at 11:30 WAT

SpongeBob SquarePants

Join SpongeBob, Patrick, and the rest of the Bikini Bottom gang on brand-new adventures that will make you laugh your socks off! Tune in weekdays from Monday, 22 July to Thursday, 8 August at 16:30 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

Monster High

Follow the adventures of Frankie Stein, Draculaura, Clawdeen Wolf and other mythical monsters as they try to make sense of learning at Monster High.

Catch new episodes of their adventure every weekday from Monday, 12 August, to Friday, 23 August, at 12:30 WAT on NickToons Channel 308 on DStv and Channel 86 on GOtv.

Cheeky Sandy Cheeks Stunt

Get ready for a fin-tastic adventure as we celebrate Bikini Bottom’s favourite squirrel scientist, Sandy Cheeks! Don’t miss a special episode compilation showcasing Sandy’s underwater escapades with SpongeBob, Patrick, and the whole gang. See how exciting life can be under the sea with a friend as smart and adventurous as Sandy!

Tune in from 19 August to 30 August at 16:30 WAT on NickToons, Channel 308 on DStv and Channel 86 on GOtv. Don’t miss the fun!

The Truly Odd Parents Stunt

Get ready for nonstop fun with one of Nickelodeon’s most beloved shows, The Fairly OddParents! Join Timmy Turner on his incredible adventures and experience the magic firsthand.

Tune in every weekday from Monday, 26 August to Friday, 4 October at 17:30 WAT on NickToons, Channel 308 on DStv and Channel 86 on GOtv. Don’t miss out on the excitement!


Originally published: August 09, 2024.

Original source: P.M. News Nigeria.
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PAW Patrol Training Camp Opens at Shopping Metrô Tatuapé In Brazil

Patrulha Canina chega ao Shopping Metrô Tatuapé em julho

Filhotes heroicos da Nickelodeon abrem a temporada de férias em evento assinado pela 2a1, em parceria com a Paramount

Patrulha Canina – Campo de Treinamento

Patrulha Canina, pro farol! No dia 6 de julho, os filhotes mais amados da Nickelodeon vão invadir o Shopping Metrô Tatuapé, em São Paulo, para dar início à tão aguardada temporada de férias. Em parceria com a 2a1 cenografia e a Paramount, por meio de seu departamento de Licenciamento de Produtos e Experiências, o shopping apresenta, de maneira inédita, o evento “Patrulha Canina – Campo de Treinamento”. Esta experiência única promete encantar crianças e adultos de todas as idades, promovendo momentos memoráveis para toda a família.

Pela primeira vez no Brasil, o Campo de Treinamento da Patrulha Canina convida os visitantes a se juntarem aos filhotes em missões emocionantes e atividades interativas, todas projetadas para estimular a imaginação e promover o aprendizado através da diversão.

Segundo Danielle Paulino, Diretora Comercial da 2a1 cenografia, “o Patrulha Canina – Campo de Treinamento é mais do que um simples evento; é uma oportunidade para as famílias se reunirem e se divertirem juntas, em uma experiência imersiva, em um mundo de aventuras com seus personagens favoritos“, destaca a executiva.

Entre as principais atividades do evento, estão:

– Missões Desafiadoras: Aventure-se em missões de resgate emocionantes, onde você e os filhotes trabalharão juntos para salvar o dia.
– Treinamento de Obstáculos: Teste suas habilidades em um circuito de treinamento cheio de desafios e obstáculos emocionantes.
– Oficinas Criativas: Deixe a criatividade fluir em oficinas de arte e artesanato, onde as crianças podem criar distintivos e acessórios da Patrulha Canina para levar para casa.
– Encontros com Personagens: Conheça pessoalmente Marshall, Chase, Skye e todos os outros membros da Patrulha Canina em encontros especiais durante todo o evento.

“Receber um evento de tanto sucesso como a Patrulha Canina reforça o nosso compromisso em proporcionar, cada vez mais, opções de lazer de qualidade para o nosso público. As crianças vão se divertir, aprender e guardar na lembrança”, afirma Karen Cruz, gerente de Marketing do Complexo Tatuapé.

Patrulha Canina é uma série de ação e aventura, com viés educativo, estrelada por filhotes heroicos: Chase, Marshall, Rocky, Zuma, Rubble, Skye e Everest, que são liderados por um menino de 10 anos de idade, Ryder. Com uma combinação única de habilidades para resolver problemas, veículos incríveis e muito bom humor canino, a Patrulha Canina trabalha em missões arriscadas de resgate para proteger a comunidade.

Para mais informações sobre os eventos, acesse: site oficial do Complexo Tatuapé 

Serviço:
Patrulha Canina – Campo de Treinamento
Data: De 6 de julho a 13 de outubro de 2024
Local: Estacionamento do Shopping Metrô Tatuapé (G4)
Horários: Segunda a sábado das 11h às 22h, domingo e feriados das 12 às 21h
Ingressos: Ticketmaster
Valor: R$ 30,00 para crianças até 14 anos e R$ 10,00 para os adultos acompanhantes durante a semana (segunda à sexta-feira até às 18 horas). Sexta após as 18 horas e aos finais de semana, o valor será de R$ 40,00 para crianças até 14 anos e R$ 15,00 para os adultos acompanhantes. Além disso, será disponibilizado o Combo Família: 1 criança mais 1 adulto por R$ 65,00 (uma pipoca e um refrigerante ou água) de segunda a sexta até às 18 horas.
Redes sociais: Instagram
Complexo Tatuapé
Shopping Metrô Tatuapé
Endereço: Rua Dr. Melo Freire S/N, Tatuapé – São Paulo/SP – 03314-030
TEL.: (11) 2090-7400
Horário de funcionamento do Shopping: de segunda a sábado, das 10h às 22h. Domingo e feriados, das 14h às 20h.
Redes Sociais:
Instagram: complexotatuape  

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Você pode assistir a mais programas de Nick no Paramount+: ParamountPlus.com.


Originally published: August 09, 2024.

Fonte original: BLUP.
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Paramount Global Says It Landed $1B In Digital Upfront Ad Commitments

Sports, broadcast TV and digital paced Paramount Global‘s overall performance in the upfront ad market, Co-CEO Chris McCarthy said during the company’s second-quarter earnings call.

One of Paramount's upfront dinners for advertisers in the spring of 2024
One of Paramount's upfront dinners for advertisers in the spring of 2024 | Deadline

“We are pleased with our upfront results, particularly in the context of the evolution of the ad market and the scale of new entrants,” he said.

Linear volume on par with 2023 and CPMs were up on a blended basis, driven by sports and broadcast, which were “relatively strong,” McCarthy said.

“The digital marketplace was also healthy,” he added. “We secured commitments in excess of $1B across our streaming portfolio, reflecting both the quality and the scale of our assets. With our mix of pay and free, we offer the most efficient reach across premium video.”

The quarterly report featured a jarringly large write-down of cable networks totaling just shy of $6 billion. The move followed a similar one by Warner Bros. Discovery on Wednesday. With linear TV in free fall, the growth of streaming offers a ray of hope for Paramount, with its direct-to-consumer unit posting its first operating profit during the quarter. In terms of resources, however, the financial strain of operating a mix of traditional and digital assets has resulted in major cutbacks, with the company planning to lay off 15% of its U.S.-based workforce by the end of the year. The cuts and write-down both were in part motivated by the pending merger of Paramount and Skydance Media.

Netflix, Amazon and Disney have all entered the streaming marketplace as major sellers over the past year or two, disrupting the sector for a number of players like Paramount. The company has most of its subscribers to Paramount+ on an advertising tier and also has a number of well-established free services with ads, including Pluto TV and CBS News 24/7.

McCarthy did not provide any commentary on ad category trends or note any particular programs drawing interest from advertisers.

In a departure from decades-long precedent, Paramount in 2023 decided to ditch its large-scale presentation to ad buyers in New York, replacing the event with a series of smaller-scale dinners. Other media companies, along with tech giants Amazon, Netflix and YouTube, have continued to stake their claims on traditional upfront turf during mid-May in Manhattan. Paramount brass have insisted the new approach eliminates waste and enhances connections with ad buyers.

Ad chief John Halley told Deadline last spring that the new approach had a “refreshing practicality” to it, adding that a number of media buyers had expressed enthusiasm for the overhaul.

Stream a Mountain of Entertainment, including your Nickelodeon favorites on Paramount+! Try it FREE at ParamountPlus.com!


Original source: Deadline.
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Paramount Global Set To Cut 15% Of U.S.-Based Workforce, Co-CEO Chris McCarthy Confirms

Paramount Global Co-CEO Chris McCarthy confirmed the long-expected layoffs hitting the company, saying the media company plans to cut its U.S.-based workforce by about 15%.

Paramount Mountain

Speaking on the company’s second-quarter earnings call, the exec said marketing and communications would be one of two areas to be targeted in the reductions. The other will be support functions including legal, finance and other areas of the company’s administrative operations.

The layoffs will take place in the coming weeks, McCarthy said, and will be largely completed by the end of 2024.

“As you can imagine, these are difficult decisions to make,” McCarthy said. “We have incredibly talented people at Paramount, and these actions are not reflections of their contributions. Rather, they are necessary to transform our organization for the future.”

Prior to McCarthy’s comments, Paramount released a second-quarter earnings report with some upbeat aspects but also a glaring statistic: $5.98 billion. That’s the amount of the write-down the company took on its cable networks during the quarter, ahead of the pending merger deal with Skydance. The point of the move was to re-size the value of the linear TV holdings at the company, something Warner Bros. Discovery had just done a day earlier, writing down $9.1 billion.

The cuts had first been signaled officially in June, when McCarthy and the two other execs in Paramount’s Office of the CEO, George Cheeks and Brian Robbins, announced they had identified $500 million in annualized cost savings. Several weeks later, when Skydance made its proposal to merge with Paramount, it said it saw $2 billion in cost savings in the combination.

Barring any late-arriving offers during a “go-shop” period included in the Skydance agreement (which ends a minute before midnight on August 21), the David Ellison-run company will enter a regulatory review process. The parties have said the close of the transaction is targeted for the first half of 2025.

Stream a Mountain of Entertainment, including your Nickelodeon favorites on Paramount+! Try it FREE at ParamountPlus.com!


Original source: Deadline.
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Paramount Co-CEOs Say Talks Heating Up On Streaming Partnerships, Asset Sales Ahead Of Skydance Merger

Paramount Co-CEOs Say Talks Heating Up On Streaming Partnerships, Asset Sales Ahead Of Skydance Merger

Paramount Mountain

The Paramount Global-Skydance merger is on track to close in the first half of 2025 and “in the meantime, the Skydance and Redbird teams support our strategic plan and we are continuing to operate business as usual,” said Chris McCarthy — who runs Paramount with Brian Robbins and George Cheeks — on a conference call after the company reported its Q2 2024 earnings results on Thursday, August 8.

That includes an anticipated $500 million in cost cuts, a chunk from layoffs of about 15% of Paramount’s staff that started today and will go through the rest of the year, as well as asset sales.

David Ellison’s Skydance, backed by Oracle co-founder (and his father) Larry Ellison, and Gerry Cardinale’s RedBird Capital clinched an agreement with Shari Redstone-controlled Paramount in July. It included a 45-day waiting period for another bidder to appear, but there doesn’t seem to be a lot of movement on that front. They’d have until 11:59 p.m. ET on August 21.

The deal would then need regulatory approval to close.

Paramount might look a bit different by then. The CEO trio noted active discussions around potential strategic partners for Paramount+, and a major focus on boosting Par’s balance sheet by “optimizing” its asset mix,” said Cheeks — meaning asset sales.

“We are aggressively evaluating our portfolio with the goal of improving our balance sheet,” he said. “The set of assets that make up Paramount global today were built up through the rise of linear. And, while we have strong brands and businesses, we must reshape our portfolio to best compete in the future.”

He said “the assets under consideration are undeniably strong with exciting futures ahead but will be better served on their own or as a centerpiece of another business.” He didn’t name any. BET, which was put on sale then yanked back under former CEO Bob Bakish, is said to be one asset on the block.

Partners and divestitures have been talked about before, but the language used today was a bit more emphatic than in the past. Cheeks promised an update on a future call.

Stream a Mountain of Entertainment, including your Nickelodeon favorites on Paramount+! Try it FREE at ParamountPlus.com!


Original source: Deadline.
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Paramount Global Writes Down Cable Networks Value, Cuts Jobs; Streaming Profit Boosts Shares

Paramount Global (PARA.O) wrote down the value of its cable networks by nearly $6 billion and announced Thursday (August 8) it would cut 15% of its workforce, as the media conglomerate navigates the decline of the cable television business.

Paramount Mountain

The reductions are part of Paramount's efforts to cut $500 million in costs ahead of its merger with Skydance Media and will affect roughly 3,200 people, based on the number of workers at the end of last year.

Paramount's shares rose 5% after hours, however, as the company handsomely beat Wall Street's profit expectations and its streaming business reported its first quarterly profit in three years. The stock has lost almost a third of its value so far this year.

The company's Paramount+ and PlutoTV services reported an operating income of $26 million in the second quarter, compared with a loss of $424 million a year earlier.

"It's crunch time for streaming businesses and Paramount delivered some promising numbers," Third Bridge analyst Jamie Lumley told Reuters.

Paramount is the second media conglomerate in as many days to adjust the value of its cable TV assets to reflect the impact of declining ratings, which translates to lower advertising revenue. Warner Bros Discovery (WBD.O) announced a $9 billion charge on Wednesday, citing the uncertainty of fees from cable and satellite distributors and sports rights deals.

The pending Skydance merger forced Paramount to reassess the value of each of its units, based on deal's implied enterprise value of the company. This impairment dragged the company into an operating loss of $5.3 billion for the second quarter.

"Paramount's and Warner Bros Discovery's writedowns this week add nails to linear TV's coffin," said Emarketer television and streaming analyst Ross Benes. "Paramount’s best chance for an exit is through Skydance. The longer they wait, the less the company will be worth."

Paramount's adjusted operating profit, which excludes the impairment, exceeded Wall Street targets, with income of $867 million, or 54 cents a share. That topped the consensus estimate of 12 cents a share, according to LSEG.

The job cuts are expected to lead to charges of $300 million to $400 million in the third quarter, Paramount executives said on the investor call. The company is looking at a variety of additional cost-reduction plans, Chief Financial Officer (CFO) Naveen Chopra said.

Second-quarter revenue fell 11% to $6.8 billion. That missed analyst forecasts of $7.2 billion for the quarter ended June 30.

The television unit, which includes prime time's top-rated network, CBS, as well as the company's cable networks, such as Nickelodeon, MTV, Comedy Central and BET, reported quarterly revenue of nearly $4.3 billion. The 17% decline in revenue from a year ago reflects lower ad revenue and fees paid to license its shows. Operating income for the group fell 15% to $1 billion.

Paramount's film business reported a loss of $54 million, despite releases like IF topping the box office in its domestic debut, and A Quiet Place: Day One recording the best financial performance for the horror franchise.

More from Deadline:

Paramount Global Steels Itself For New Round Of Layoffs As Q2 Earnings Hit, End Of Skydance “Go-Shop” Period Nears

UPDATED with executive remarks: A momentous couple of weeks for Paramount Global are underway. Its second-quarter earnings are due out today, the “go-shop” period in the $8 billion Skydance deal closes August 21, and a new round of layoffs is expected next week.

Paramount will release its earnings after the market closes, with Wall Street analysts forecasting a 5% year-to-year revenue dip due to challenges in linear TV and at the film studio.

In addition to the Skydance deal, the eyes of the financial community will be focused on Paramount’s cost-cutting plans. The company’s co-CEOs, who have promised to deliver $500 million in annual cost savings, said in June that more details about the streamlining would be revealed on the Q2 earnings call. UPDATE: Co-CEO Chris McCarthy confirmed on the call that the media company plans to cut its U.S.-based workforce by about 15%.

Chatter has been intensifying over the last few days that the next round of layoffs is coming next week, with hundreds of jobs expected to be eliminated. According to multiple sources, Tuesday, August 13 is the target date. It fits into the pattern of previous mass layoffs at the company, most recently on February 13, which also was a Tuesday, with the impacted employees asked to leave by that Friday.

Marketing and Paramount+ are two areas that are expected be hit hard, we hear. In a precursor to a major marketing consolidation, Michael Engleman, Chief Marketing Officer for Paramount+ Domestic and Paramount+ with Showtime, announced Tuesday that he will be stepping down.

According to sources, tens of marketing positions could be gone, with as much as half of Paramount Global’s overall marketing team in danger of losing their jobs.

Paramount+ also is likely to take some of the brunt of the latest staff reductions as media companies, including Paramount, are trying to cut streaming losses by reducing spending and original output in the push to make their platforms profitable. On Disney’s quarterly earnings call Wednesday, CFO Hugh Johnston hinted that new cost cuts may be in the offing, assuring Wall Street analysts that there would be more ways to do “more with less” in the near future.

While marketing and Paramount+ may be disproportionately affected, no one would be spared as every division across the company is expected to be part of the cutbacks, including frequent layoff targets such as corporate and shared services, including legal and BA.

UPDATE: On the Q2 call, McCarthy revealed that marketing and communications would be one of two areas to be targeted in the reductions. The other will be support functions including legal, finance and other areas of the company’s administrative operations

Per standard practice, every department head had been given a number to hit in terms of eliminated positions — said to be in the double digits percent-wise — and/or overall savings.

“It’s going to be a bloodbath,” one staffer said, echoing the sentiment of thousands across the company who are bracing for the cuts. The mood at Paramount has been pretty subdued over the last couple of weeks as the layoffs are drawing near, with morale and the level of anxiety moving in opposite directions. Some speculate the staff reductions may stretch beyond next week into September and even possibly into next year.

“As you can imagine, these are difficult decisions to make,” McCarthy said on the earnings call. “We have incredibly talented people at Paramount, and these actions are not reflections of their contributions. Rather, they are necessary to transform our organization for the future.”

During the February round of layoffs, 800 jobs were eliminated, which represented about 3% of the company’s global head count, with Paramount TV Studios heavily impacted as it underwent a major consolidation.

In November 2022, Paramount TV Studios as well as CBS Studios underwent staff reductions. In February 2023, there were layoffs at Showtime. In May 2023, the company proceeded to eliminate 25% of staff in its domestic cable networks and shutter its longstanding MTV News division after 36 years on air.

The unease among employees follows months of uncertainty about the company’s future, with a drumbeat of press coverage about a range of scenarios. An M&A deal has been on the table since the end of 2023, when National Amusements chief Shari Redstone came to terms with the daunting reality of Paramount’s deteriorating cable TV business and the cash burn of streaming. As Skydance made multiple attempts to secure the company and other suitors circled, she ousted longtime CEO Bob Bakish and installed company veterans Brian Robbins, Chris McCarthy and George Cheeks in the newly christened Office of the CEO.

During a presentation to shareholders in June, Cheeks said the trio would lay out the “broad strokes” of their strategic plan for the company before “sharing greater detail on our Q2 earnings call in August.”

A few notable bidders, among them Barry Diller and Sony Pictures, have abandoned their pursuit as the the “go-shop” period is coming to a close. Even assuming Skydance and its backers — including RedBird Capital and Oracle billionaire Larry Ellison — prevail, with former NBCUniversal CEO Jeff Shell poised to become president of the newly merged entity, there will be plenty of changes in the months to come under the three co-CEOs. Cheeks in June emphasized plans for “streamlining our organization, allowing us to build a leaner, more nimble company that’s better positioned to win.” He also said $500 million in annual cost savings has already been identified, with layoffs a key aspect to achieving them.

After the trio of CEOs were thrust into a more prominent role in June after Redstone abruptly pulled out of a prior version of the Skydance pact, sources told Deadline they would be given time to settle in. That still appears to be true to an extent. The original cost-cutting plan was developed when the previous Skydance deal fell through, and when the current proposal took effect the cutbacks stayed in the forecast.

Paramount’s stock, like those of several media players, has been struggling even after news of the Skydance proposal last month. Shares closed Wednesday at $10.46, leaving them down 28% in 2024 to date. The company’s debt and exposure to linear TV declines have spooked investors, akin to the recent investor retreats from Disney, Warner Bros Discovery, AMC Networks and others.

Gerry Cardinale, founder and managing partner of RedBird, has said the Skydance team plans to give the Paramount CEOs ample latitude to make strategic decisions in the leadup to the deal’s close in mid-2025. When the merger was announced last month, he said RedBird backed it “because we believe that the pro forma company under this leadership team will be the pace car for how these incumbent legacy media businesses will need to be run in the future.”

###

From Deadline:

Paramount Takes $5.98B Write-Down At Cable Networks Ahead Of Skydance Deal In Latest Big Media Damage From Linear TV

Paramount Global has taken a massive hit to earnings, booking a nearly $6 billion write-down as part of its second-quarter earnings, a day after Warner Bros. Discovery reported an even bigger charge.

Both impairment charges to bring each to bring their carrying value for linear television assets into line with what they’re likely worth now – much less given years of declines and an uncertain future. WBD’s, of $9.12 billion, was trigged by the recent loss of NBA games.

The timing for Paramount is related to getting its book in order ahead of its acquisition by Skydance. The agreement announced last month will move forward as of 11:59 pm ET August 21 if no other better offer emerges. Paramount’s impairment charged widened its operating loss to $5.3 billion from $250 million in the 2023 second quarter. “During the second quarter of 2024, we recorded a goodwill impairment charge for our Cable Networks reporting unit of $5.98 billion,” the earnings release said in a small footnote.

Overall, the quarter was mixed with total revenue down 11% to $6.8 billion, short of Wall Street forecasts. The numbers beat on other metrics. Paramount+ subscribers decreased 2.8 million in the quarter to 68 million, with the company saying it principally reflects the planned exit from a hard bundle agreement in South Korea. Streaming revenue rose 13% year-over-year.

Subscription revenue grew 12%, advertising revenue rose 16%. Paramount+ revenue grew 46%, driven by year-over-year subscriber growth and ARPU expansion.

Paramount+ global ARPU expanded 26% year-over-year. Operating income increased $450 million from a year ago to $26 million, reflecting the revenue growth and lower costs for marketing and content. TV Media revenue decreased 17% to $4.3 billion, primarily driven by fluctuations in the timing of licensing revenues. Advertising revenue fell 11%, reflecting declines in the linear ad market.

Affiliate and subscription revenue dipped 5%, largely due to subscriber declines. Licensing and other revenue plunged 48%, reflecting tough comps from 2023, which included the final season of Jack Ryan and a lower volume of licensing in the secondary market. Operating income decreased 15% to $1 billion.Filmed entertainment fell 18% to $679 million.

Theatrical revenue was down 40% as IF couldn’t match Transformers: Rise of the Beasts the year before. A Quiet Place: Day One opened just before the quarter ended. Revenues from licensing of film library titles fell.

“Our strong performance in Q2 demonstrates that we are delivering on our strategic priorities. We are proud of our results, including significant earnings growth largely driven by our DTC segment. In fact, for the fourth year in a row, Paramount+ is leading the industry in domestic sign-ups driven by our big broad hit TV series and blockbuster films. DTC profit growth for the past four quarters has totaled nearly $900 million and we are on track to reach domestic profitability for Paramount+ in 2025,” said co-CEOs George Cheeks, Chris McCarthy and Brian Robbins. “Looking ahead, we will continue to aggressively execute on our Strategic Plan which focuses on transforming streaming to accelerate profitability, streamlining our organization — including at least $500 million in annualized cost savings — and improving the balance sheet by growing free cash flow and optimizing our asset mix. We are confident that our Plan will drive long-term value by leveraging our broad hit content as we continue to transform Paramount for the future.”

Skydance is estimating even greater cost savings when it takes the helm, in the neighborhood of $2 billion, a number insiders at Paramount do not dispute. With layoffs looming, staffers are uneasy but Wall Street is looking to hear that more efficiency is possible. Deadline reported earlier Thursday that hundreds of workers are projected to be let go starting on August 13. In a presentation to shareholders in June, Cheeks, McCarthy and Robbins promised more details about their restructuring plans during the call.

###

Stream a Mountain of Entertainment, including your Nickelodeon favorites on Paramount+! Try it FREE at ParamountPlus.com!


Originally published: August 09, 2024.

Additional source: Special thanks to @916786wc.
Follow NickALive! on Twitter, Reddit, Instagram, Facebook, Google News, Tumblr, via RSS and more for the latest Nickelodeon and Paramount News and Highlights!
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Paramount Reports Q2 2024 Earnings Results

Paramount Global (NASDAQ: PARA, PARAA) today (August 8, 2024) announced financial results for the second quarter ended June 30, 2024. The full press release and other earnings material can be viewed on the Paramount investor relations website at ir.paramount.com. A audio replay of Paramount's earnings call will also be available to listen to once completed.

PARAMOUNT REPORTS Q2 2024
EARNINGS RESULTS

Paramount Mountain

★ Direct-To-Consumer Adjusted OIBDA Improved $450 Million Year-Over-Year to $26 Million

★ Paramount+ Increased Revenue 46% Year-Over-Year

★ Company Advances Strategic Plan, Including $500 Million in Annualized Cost Savings

★ Paramount-Skydance Agreement Announced on July 7, 2024

STATEMENT FROM GEORGE CHEEKS, CHRIS MCCARTHY & BRIAN ROBBINS, CO-CEOS:
"Our strong performance in Q2 demonstrates that we are delivering on our strategic priorities. We are 
proud of our results, including significant earnings growth largely driven by our DTC segment. In fact, 
for the fourth year in a row, Paramount+ is leading the industry in domestic sign-ups driven by our big 
broad hit TV series and blockbuster films. DTC profit growth for the past four quarters has totaled 
nearly $900 million and we are on track to reach domestic profitability for Paramount+ in 2025.
Looking ahead, we will continue to aggressively execute on our Strategic Plan which focuses on 
transforming streaming to accelerate profitability, streamlining our organization — including at least 
$500 million in annualized cost savings — and improving the balance sheet by growing free cash flow 
and optimizing our asset mix. We are confident that our Plan will drive long-term value by leveraging 
our broad hit content as we continue to transform Paramount for the future."

DIRECT-TO-CONSUMER

OVERVIEW

Year to date, Paramount+ leads the industry in domestic sign-ups for the fourth year in a row, driven by hit content like Knuckles from our Sonic the Hedgehog franchise — which broke the global record for the most-streamed original series on Paramount+ in its premiere week — and the latest season of The Chi, the most-streamed in the series.

Q2 FINANCIALS

  • Revenue increased 13% year-over-year. 
    • Subscription revenue grew 12%, driven by year-over-year subscriber growth and pricing increases for Paramount+.
    • Advertising revenue rose 16%, reflecting growth from Paramount+ and Pluto TV.
    • Paramount+ revenue grew 46%, driven by year-over-year subscriber growth and ARPU expansion.
      • Paramount+ subscribers decreased 2.8 million in the quarter to 68 million, principally reflecting the planned exit from a hard bundle agreement in South Korea.
      • Paramount+ global ARPU expanded 26% year-over-year.
  • Adjusted OIBDA increased $450 million year-over-year to $26 million, reflecting the revenue growth and lower costs for marketing and content.

TV MEDIA

OVERVIEW

CBS finished the 2023-2024 season #1 in primetime for the 16th year in a row, including 8 of the top 10 broadcast series. Additionally, on May 23, 2024, Paramount and Charter Communications announced a new multi-year agreement for distribution of Paramount’s linear networks, CBS owned-and-operated stations and direct-to-consumer streaming services.

Q2 FINANCIALS

  • Revenue decreased 17% to $4.3 billion, primarily driven by fluctuations in licensing revenues. 
    • Advertising revenue decreased 11%, reflecting declines in the linear advertising market.
    • Affiliate and subscription revenue decreased 5%, driven by subscriber declines and a 1-percentage point decrease from the absence of pay-per-view boxing events, partially offset by pricing increases. 
    • Licensing and other revenue decreased 48%, reflecting fewer availabilities, including the final season of Jack Ryan in 2023, and a lower volume of licensing in the secondary market.
  • Adjusted OIBDA decreased 15% to $1.0 billion reflecting the revenue decline, partially offset by lower costs for content and marketing.

FILMED ENTERTAINMENT

OVERVIEW

Filmed Entertainment continued to deliver strong results at the box office, with IF debuting at #1 domestically and A Quiet Place: Day One recording a franchise best performance, grossing over $250 million at the global box office to date.

Q2 FINANCIALS

  • Revenue decreased 18% to $679 million due to timing of releases in the quarter.
    • Theatrical revenues decreased 40%, reflecting the comparison to the release of Transformers: Rise of the Beasts in the prior year.
    • Licensing and other revenue decreased 9%, principally due to lower revenues from the licensing of film library titles.
  • Adjusted OIBDA decreased $59 million year-over-year, reflecting the lower revenue, partially offset by lower content and marketing costs.

SKYDANCE TRANSACTIONS

As previously announced, on July 7, 2024, Paramount Global (“Paramount”), Skydance Media (“Skydance”) and other parties entered into a definitive transaction agreement (the “Transaction Agreement”) to form “New Paramount,” through a two-step transaction, which includes the acquisition of National Amusements, Inc., the controlling stockholder of Paramount, and the formation of a new holding company of which Paramount and Skydance will be subsidiaries.

The Transaction Agreement includes a 45-day go-shop period. Paramount does not intend to disclose 
developments with respect to the go-shop process unless and until it determines such disclosure is appropriate or is otherwise required.

Completion of the Skydance transactions is subject to customary closing conditions, including regulatory approvals. The Skydance transactions are expected to close in the first half of 2025. Until then, Paramount continues to operate in the normal course of business.

Further information regarding terms and conditions contained in the Transaction Agreement are available in the Company’s Current Report on Form 8-K that was filed with the Securities and Exchange Commission (“SEC”) on July 11, 2024. Also, in connection with the Skydance transactions, a press release was issued on July 7, 2024, which is available on Paramount’s Investor Relations page. 

ABOUT PARAMOUNT

Paramount (NASDAQ: PARA; PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. The company holds one of the industry’s most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, Paramount provides powerful capabilities in production, distribution and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

PARA-IR

***

Notes:

- Top performing shows on Paramount+ this quarter include: Knuckles, The Chi, UEFA Champions League, and Mayor of Kingstown.

- CBS finished '23-24 season as the #1 broadcast network for the 16th consecutive season.

Stream a Mountain of Entertainment, including your Nickelodeon favorites on Paramount+! Try it FREE at ParamountPlus.com!


Originally published: August 09, 2024.
Follow NickALive! on Twitter, Reddit, Instagram, Facebook, Google News, Tumblr, via RSS and more for the latest Nickelodeon and Paramount News and Highlights!
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