ViacomCBS changes name to Paramount to boost streaming future

ViacomCBS missed Wall Street profit forecasts on Tuesday as the company announced it will change its name to Paramount and unveiled a broad range of new programming. (Reuters/File Photos)
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Updated 17 February 2022
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ViacomCBS changes name to Paramount to boost streaming future

  • ViacomCBS reported adjusted earnings per share of 26 cents for October through December

NEW YORK: ViacomCBS missed Wall Street profit forecasts on Tuesday as the company announced it will change its name to Paramount and unveiled a broad range of new programming in the battle for viewers in the crowded streaming market.
Shares of the media conglomerate that owns CBS, Showtime, Comedy Central, MTV and other networks, which initially fell 3%, slipped to a 6% loss as the company's two-hour presentation of its streaming strategy continued after the markets closed.
ViacomCBS reported adjusted earnings per share of 26 cents for October through December, below analyst projections of 43 cents.
The switch to Paramount, effective on Wednesday, was announced as the company made a presentation to drum up excitement among investors about its future strategy and programming.
"We know the opportunity at hand is massive, and we've got the passion, the ambition and the discipline to deliver," Chief Executive Bob Bakish said.
The company forecast it will have 100 million subscribers to its streaming services by 2024, raising earlier guidance of 65 million to 75 million customers. To get there, spending on new streaming programming will grow to more than $6 billion per year in 2024, the company said.
Executives announced a large slate of programming to help draw new online customers who have several options from Netflix Inc, Walt Disney Co and others.
Among them, ViacomCBS ordered a second season of upcoming video game TV adaptation series "Halo," a "Yellowstone" spinoff called "1932," and two animated "South Park" movies every year through 2027.
Starting in 2025, all "South Park" episodes will be exclusively available around the globe on Paramount+, executives said.
For younger viewers, the company will produce a "Baby Shark" movie and a new "Dora the Explorer" series.
Tom Cruise, star of Paramount's "Top Gun" and "Mission: Impossible," franchises, appeared via video, saying he was "very, very proud" of his 37-year relationship with the movie studio as an actor and producer. "Top Gun: Maverick" is scheduled to hit movie theaters in May.
Starting in 2024, Paramount+ will become the exclusive home for all of the company's theatrical movies after they play in cinemas.
The new Paramount name "will help advance our strategy of harnessing all our strength and breadth in building the businesses of tomorrow," Bakish and Chair Shari Redstone said in a memo to employees.
Earlier on Tuesday, the company said it added 9.4 million global streaming subscribers in the fourth quarter, taking its total count to 56 million subscribers.
The company also benefited from the resumption of live sports and a rise in affiliate revenue at its cable networks, which refers to the fees collected from cable and satellite operators and online distributors.
Revenue rose 16% to $8 billion in the three months ended Dec. 31, compared with analysts' estimates of $7.51 billion, according to IBES data from Refinitiv.
Operating income rose to $2.66 billion from $1.08 billion a year earlier.


Dentsu opens sports practice in MENA with Riyadh HQ

Updated 16 May 2024
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Dentsu opens sports practice in MENA with Riyadh HQ

DUBAI: International advertising group Dentsu has announced the launch of its dedicated sports practice, dentsu Sports International, in the Middle East and North Africa region.

The new practice, which focuses on sports marketing and analytics services, will be headquartered in Riyadh, Saudi Arabia, with additional offices in the UAE.

To provide end-to-end service to clients, the group brings together three dentsu businesses: dentsu Sports International Commercial, MKTG Sports + Entertainment and dentsu Sports Analytics.

Charlie Wylie, managing director for Europe, Middle East and Africa at dentsu Sports International, said: “dentsu Sports International will serve as a strategic sports and entertainment arm of dentsu in MENA, offering comprehensive solutions tailored to the needs of brands and rights holders.”

The company has appointed Olaf Borutz as vice president of commercial development, reporting to dentsu Sports International’s global chief commercial officer, Echo Li.

Borutz’s previous role as head of sports and events at law firm Al Tamimi & Company saw him advise clients on sports and events-related commercial matters, including government bodies, rights holders, agencies and players of the Saudi Pro League and Qatar Stars League. 

“The appetite for sports marketing in the Kingdom is at an all-time high, with Saudi’s ambitions and investment in this space only expected to grow,” said Tarek Daouk, CEO, dentsu MENA.

A significant 62 percent of Saudi sports fans say that sport plays a bigger role in their lives than  before, according to a new study conducted by dentsu Sports International.

The study also found that fans spend more time and money than their international counterparts on live events in the Kingdom, with Saudi fans attending an average of six events in person a year, more than the UK average of two events per year.

Saudi Arabia’s significant youth population is passionate about sports, with 68 percent of 18–24-year-old Saudis saying they find attending sports events more rewarding than other entertainment events.

The study also revealed that these younger consumers are the most likely to purchase premium tickets, spending 31 percent more a ticket than older fans.

Daouk said: “It’s an exciting time for sports in the region and we are thrilled to launch dentsu’s bespoke sports and entertainment offering.”


Tunisia remands journalists arrested over critical comments

Updated 15 May 2024
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Tunisia remands journalists arrested over critical comments

  • Broadcaster Borhen Bssais and political commentator Mourad Zeghidi were arrested Saturday under a decree criminalizing ‘spreading false information’ among other charges, spokesman Mohamed Zitouna said

TUNIS: A Tunisian court on Wednesday ordered two journalists to be held in remand until the completion of investigations into critical comments, a court spokesman said.

Broadcaster Borhen Bssais and political commentator Mourad Zeghidi were arrested Saturday under a decree criminalizing “spreading false information” among other charges, spokesman Mohamed Zitouna said.

Zeghidi is being investigated over social media statements last February and a post in support of Mohamed Boughalleb, another journalist and critic of President Kais Saied who has been detained separately.

Bssais was arrested on accusations of “having harmed President Kais Saied through radio broadcasts and statements” online between 2019 and 2022, according to his lawyer Nizar Ayed.

Their trial is set to begin on May 22, according to their lawyers.

Both media figures are prosecuted under a law ratified by Saied in September 2022.

The law punishes people with up to five years in prison for the use of social media to “produce, spread (or) disseminate ... false news” and “slander others, tarnish their reputation, financially or morally harm them.”

Journalists and opposition figures have said it has been used to stifle dissent.

Since the decree came into force, more than 60 journalists, lawyers and opposition figures have been prosecuted under it, according to the National Union of Tunisian Journalists.

The same night Bssais and Zeghidi were taken into police custody, masked police raided the Tunisian bar association and arrested lawyer Sonia Dahmani, also on the same law.

On Monday, another lawyer was forcibly arrested at the association’s headquarters.

The president of the bar, Hatem Meziou, on Tuesday called for an end to “the abuse of power” and “violence” targeting the lawyers.

The European Union also expressed concern over a string of arrests of civil society figures in Tunisia — the latest sign of a tightening clampdown on freedoms under Saied.

Nongovernmental organizations have decried a rollback of freedoms in Tunisia since Saied began ruling by decree after a sweeping power grab in 2021.


‘Blockout’ trend targets celebrities over Gaza silence

Updated 15 May 2024
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‘Blockout’ trend targets celebrities over Gaza silence

  • Selena Gomez, Zendaya and Kim Kardashian are among the celebrities who have lost hundreds of thousands of followers
  • Boycott campaign gained traction following Met Gala event last week in New York

LONDON: A new trend threatening to boycott celebrities over their refusal to speak out about the Gaza conflict is gaining momentum on social media.

Known as “Blockout 2024,” the movement has surged in popularity following the Met Gala last week.

As part of a solidarity campaign, social media users are calling for the blocking of accounts of celebrities who have remained silent on the humanitarian crisis in Gaza.

High-profile figures such as Taylor Swift, Justin Bieber, and Drake are among the hundreds of celebrities facing this “digital guillotine.”

A full list is circulating on social media, leading to a significant loss of followers on Instagram and other platforms.

Actress and singer Selena Gomez reportedly lost 1 million followers on Instagram and 100,000 on X, according to US-based social media analytics site Sonic Blue.

Fellow actress and singer Zendaya, reality TV star Kim Kardashian, and her sister Kylie Jenner have also seen hundreds of thousands of followers drop.

Pro-Palestinian activists have been pressuring celebrities for months to show more support for Gaza civilians. This growing discontent reached a tipping point last week when the Met Gala’s glitz and glamour coincided with Israel’s announcement of a military offensive in Rafah.

@ladyfromtheoutside #greenscreen #greenscreenvideo #digitine #digitalguillotine #haleyybaylee ♬ original sound - Meagan

The movement was sparked by a TikTok video from influencer Haley Kalil at the Met Gala on May 7, where she lip-synced to the phrase “Let them eat cake.”

This phrase, attributed to Queen Marie Antoinette, drew parallels to the French Revolution, symbolizing indifference to the suffering of the impoverished.

“It’s time for the people to conduct what I want to call a ‘digital guillotine.’ A ‘digitine,’ if you will,” said TikTok creator @ladyfromtheoutside, who kicked off the movement with her viral video.

“It’s time to block all the celebrities, influencers and wealthy socialites who are not using their resources to help those in dire need. We gave them their platforms. It’s time to take it back, take our views away, our likes, our comments, our money.”

According to Gaza authorities, at least 35,000 people, mostly women and children, have been killed in the Palestinian territory during the seven-month war, which has been widely condemned as failing to comply with international humanitarian law.


BBC investigation leads to arrest of one of world’s most notorious people smugglers

Updated 14 May 2024
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BBC investigation leads to arrest of one of world’s most notorious people smugglers

  • Barzan Majeed, nicknamed ‘Scorpion,’ is caught in Iraqi Kurdistan days after release of BBC podcast series by journalists who tracked him down and interviewed him
  • Senior local official confirms officials used information from the broadcaster’s investigation to help find fugitive believed to have helped smuggle thousands of people to UK

DUBAI: Kurdish security forces arrested Barzan Majeed, described as one of the world’s most notorious people smugglers, in Iraqi Kurdistan on Sunday morning.

Nicknamed “Scorpion,” the fugitive is believed to have been involved in smuggling an estimated 10,000 people across the English Channel to the UK. He was arrested days after the release of a BBC podcast series in which investigative journalists tracked him down to the city of Sulaymaniyah in Iraq and interviewed him there.

During the interview, Majeed said he had lost count of the number of people he helped to smuggle, adding: “Maybe a thousand, maybe 10,000. I don’t know, I didn’t count.”

He admitted that between 2016 and 2019 he was one of two people who helped run a people-smuggling operation in Belgium and France but denied he was the mastermind of the operation.

“A couple of people, when they get arrested, they say, ‘We’re working for him’ — they want to get less (of a) sentence,” he said.

Originally from Iraq, Majeed moved to the city of Nottingham, in England, in 2013 but was deported two years later. He had been on the run since failing to appear at a court in Belgium for a sentencing hearing in November 2022.

The UK’s National Crime Agency issued a warrant for his arrest that same year. The agency, which confirmed his arrest, said: “We are grateful to the BBC for highlighting his case and remain determined to do all we can to disrupt and dismantle the criminal networks involved in smuggling people to the UK, wherever they operate.”

A senior member of the Kurdistan Regional Government confirmed its officials had used information from the BBC investigation to locate and arrest Majeed.

Each year, thousands of people flee Iraq, including its Kurdistan Region, in the hope of finding a better life in the UK or other parts of Europe. In many cases, they pay people smugglers to transport them, but the routes and methods used by the smugglers are often dangerous and the migrants face harsh weather and potentially deadly travel conditions.

Germany deported 222 Iraqi citizens in the first three months of this year as part of an alleged agreement between Berlin and Baghdad to deport migrants who do not qualify to remain in Germany, media organization Rudaw, which is based in Iraqi Kurdistan, reported this week.


Saudi radio station MBC FM marks 30 years of broadcasting with special events

Updated 13 May 2024
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Saudi radio station MBC FM marks 30 years of broadcasting with special events

  • Bosses say the celebrations honor the pioneering station’s enduring contributions to the media landscape in the Kingdom
  • ‘MBC FM has captured the ears and hearts of millions of Saudis over 3 decades’ and ‘continues to lead the radio airwaves with the love and loyalty of listeners,’ says group’s chairperson

LONDON: As pioneering Saudi radio station MBC FM celebrates three decades of broadcasting in the Kingdom, it is marking the milestone with a series of events and initiatives at the MBC Group headquarters in Riyadh under the theme “30 and Still Going Strong.”

The celebrations, which began on May 12, honor the station’s enduring contributions to Saudi Arabia’s media landscape, bosses said. They include competitions, entertainment events and exclusive interviews with renowned artists and stars from across the Gulf region and the wider Arab world.

“Just as MBC FM has captured the ears and hearts of millions of Saudis over three decades, being the first commercial FM radio station in the Kingdom, the radio and music sector at MBC Group today continues to lead the radio airwaves with the love and loyalty of listeners,” said Walid Al-Ibrahim, the chairperson of MBC Group.

In addition to providing entertainment for listeners, the station has served as a launchpad for emerging talent, he added, as he highlighted its influence on local culture.

Ziad Hamza, general manager of the radio and music Sector at MBC Group, said the station remains committed to its ongoing evolution while also honoring its strong history and legacy. In particular he highlighted investments in infrastructure, diversity of content and audience engagement as the station adapted to changing tastes and preferences among listeners.

“We have worked on developing the infrastructure and creating a comprehensive modern environment for the radio sector … by investing in Saudi youth talents, including radio presenters, producers, programmers and technicians,” said Hamza.

“We have also launched the MoodMBC application, which includes MBC FM, Panorama FM and MBC Podcast, in addition to enhanced options for direct communication, as well as rich and diverse content catering to poetry lovers, music session enthusiasts, and current affairs followers.

“Our goal has always been to strike a balance between the tastes of listeners and the needs of advertisers, facilitating our clients’ access to various target audience segments around the clock.”