1 00:00:08,160 --> 00:00:11,400 Speaker 1: Welcome to another episode of Strictly Business, the podcast in 2 00:00:11,440 --> 00:00:13,720 Speaker 1: which we talked with some of the brightest minds working 3 00:00:13,720 --> 00:00:17,599 Speaker 1: in the media business today. I'm Andrew Wallenstein with Variety. 4 00:00:18,280 --> 00:00:21,079 Speaker 1: It was little over a year ago that Viacom CBS 5 00:00:21,120 --> 00:00:24,880 Speaker 1: promoted Tom Ryan to oversee all of its streaming operations, 6 00:00:24,920 --> 00:00:27,600 Speaker 1: and he's got quite a growth story to tell. When 7 00:00:27,600 --> 00:00:31,000 Speaker 1: the company reported third quarter earnings earlier this month, his 8 00:00:31,080 --> 00:00:34,280 Speaker 1: division had crossed the one billion dollar mark and revenue 9 00:00:34,280 --> 00:00:37,360 Speaker 1: for the first time. But it's still early days in 10 00:00:37,440 --> 00:00:40,080 Speaker 1: the streaming wars and just about anything could happen, so 11 00:00:40,120 --> 00:00:42,120 Speaker 1: we're happy to check in with Tom on this latest 12 00:00:42,120 --> 00:00:53,800 Speaker 1: episode of Strictly Business, so stick around. Welcome back to 13 00:00:53,800 --> 00:00:56,600 Speaker 1: the Strictly Business podcast. For my guest today is President 14 00:00:56,680 --> 00:01:00,240 Speaker 1: and CEO for all Things Streaming at Viacom cb S, 15 00:01:00,680 --> 00:01:03,600 Speaker 1: Tom Ryan. He first had Tom on this podcast back 16 00:01:03,640 --> 00:01:06,480 Speaker 1: in and it's gonna be great to catch up because 17 00:01:06,560 --> 00:01:09,040 Speaker 1: a whole lot has changed for him in over three years. 18 00:01:09,720 --> 00:01:12,679 Speaker 1: This conversation was recorded November eighth at the Future of 19 00:01:12,760 --> 00:01:16,880 Speaker 1: Television Confidence. I wanted to compliment you on a great 20 00:01:16,920 --> 00:01:20,280 Speaker 1: third quarter. Look really good. You added four point three 21 00:01:20,280 --> 00:01:24,360 Speaker 1: million subscribers, globally and that currently stands at forty seven 22 00:01:24,440 --> 00:01:29,959 Speaker 1: million Pluto fifty seven sorry, fifty four million monthly active users. 23 00:01:30,319 --> 00:01:32,479 Speaker 1: And so I wanted to start with how do these 24 00:01:32,600 --> 00:01:36,760 Speaker 1: numbers track with your expectations? Um? Are you ahead of 25 00:01:36,760 --> 00:01:42,440 Speaker 1: where you thought you would be? Yeah, we're we're exceeding expectations. 26 00:01:42,440 --> 00:01:45,280 Speaker 1: So we're really happy with the numbers that we released 27 00:01:45,360 --> 00:01:49,120 Speaker 1: last week across both free and pay and uh, you 28 00:01:49,160 --> 00:01:52,160 Speaker 1: know we've got a unified streaming group via com CBS 29 00:01:52,280 --> 00:01:55,560 Speaker 1: right now. UM, so we're really focused on the opportunity 30 00:01:56,160 --> 00:01:59,680 Speaker 1: to build a unique strategy across both free and paid streaming. 31 00:02:01,480 --> 00:02:04,040 Speaker 1: That's that's great. I mean, yes, you guys are are 32 00:02:04,080 --> 00:02:07,559 Speaker 1: in a number of different businesses on the streaming side, 33 00:02:07,600 --> 00:02:13,640 Speaker 1: and I was curious first and foremost about in terms 34 00:02:13,840 --> 00:02:16,679 Speaker 1: of your strategy here. I wanted to start with movies 35 00:02:16,960 --> 00:02:19,480 Speaker 1: because that's a big part of at least what you're 36 00:02:19,520 --> 00:02:23,440 Speaker 1: doing on the on the paramount plus side. And it 37 00:02:23,520 --> 00:02:27,520 Speaker 1: feels like I'm seeing a variety of different strategies for 38 00:02:27,639 --> 00:02:32,119 Speaker 1: lots of different titles. Clifford, the animated property just came 39 00:02:32,120 --> 00:02:34,320 Speaker 1: out day and date. Others you've done sort of the 40 00:02:34,360 --> 00:02:37,520 Speaker 1: forty five day thing, do you guys have a sense 41 00:02:37,680 --> 00:02:41,000 Speaker 1: of of what the strategy is or is it you're 42 00:02:41,040 --> 00:02:45,080 Speaker 1: just trying lots of different things. Yeah, So we think 43 00:02:45,760 --> 00:02:48,720 Speaker 1: in this era in particular, it makes a lot of 44 00:02:48,760 --> 00:02:51,959 Speaker 1: sense to be as flexible as possible when it comes 45 00:02:52,000 --> 00:02:56,480 Speaker 1: to releasing UH movies in streaming and so we're fortunate 46 00:02:57,040 --> 00:02:59,320 Speaker 1: um that is part of via com CBS. Not only 47 00:02:59,360 --> 00:03:02,400 Speaker 1: are we building leading streaming services, but we also have 48 00:03:02,480 --> 00:03:05,680 Speaker 1: a major movie studio and so that allows us to 49 00:03:05,720 --> 00:03:10,400 Speaker 1: really leverage everything the Paramount Pictures does for streaming and 50 00:03:10,480 --> 00:03:13,560 Speaker 1: so UM as we think about the different ways you 51 00:03:13,600 --> 00:03:16,440 Speaker 1: go to market, as you mentioned, there's a there's actually 52 00:03:16,560 --> 00:03:19,480 Speaker 1: three different ways in addition to the traditional way. There's exclusive, 53 00:03:19,520 --> 00:03:24,280 Speaker 1: which we've done with Infinite, which we released earlier this year. 54 00:03:24,720 --> 00:03:28,080 Speaker 1: There is day and date, which we've done with UH 55 00:03:28,440 --> 00:03:31,880 Speaker 1: with paw Patrol with Clifford. And then there's a fast 56 00:03:31,960 --> 00:03:35,600 Speaker 1: follow to theatrical like forty five days both post the actual, 57 00:03:35,600 --> 00:03:38,760 Speaker 1: which we did with A Quiet Place too. And we've 58 00:03:38,760 --> 00:03:41,600 Speaker 1: seen success in all of those models. So you know, 59 00:03:41,680 --> 00:03:44,720 Speaker 1: with movie goers, you know, it really being a moving 60 00:03:44,800 --> 00:03:48,760 Speaker 1: target about how you know, how uh confident people are 61 00:03:48,840 --> 00:03:51,800 Speaker 1: to go to movie theaters. These days, um, you know, 62 00:03:52,000 --> 00:03:56,119 Speaker 1: and and it really varies by demographic and by location. UM, 63 00:03:56,160 --> 00:03:59,640 Speaker 1: we think it's important to maintain flexibility, but we've seen, 64 00:04:00,160 --> 00:04:03,800 Speaker 1: you know, just great results when we when we've gone 65 00:04:03,880 --> 00:04:06,360 Speaker 1: day and date. For example, there was concern that there 66 00:04:06,400 --> 00:04:10,320 Speaker 1: could be cannibalization, but you know, with Paw Patrol, we 67 00:04:10,320 --> 00:04:14,280 Speaker 1: we vastly exceeded expectations both theatrically as well as our 68 00:04:14,320 --> 00:04:19,279 Speaker 1: streaming targets for the movie. So does that mean that 69 00:04:19,320 --> 00:04:22,159 Speaker 1: there will could there be a point where there will 70 00:04:22,240 --> 00:04:25,120 Speaker 1: be a one size fits all or you're saying you're 71 00:04:25,160 --> 00:04:29,760 Speaker 1: comfortable sort of matching the strategy to the particular film's needs. 72 00:04:30,640 --> 00:04:33,320 Speaker 1: I think for the moment, you know, Paramount Plus is 73 00:04:33,360 --> 00:04:36,839 Speaker 1: eight months old. We launched in early March. Yes, it's 74 00:04:36,880 --> 00:04:40,479 Speaker 1: a an evolution to a certain degree of CBS all access, 75 00:04:40,520 --> 00:04:43,720 Speaker 1: but it's vastly expanded. It brings all of Viacom, CBS 76 00:04:43,839 --> 00:04:48,840 Speaker 1: is content and resources to bear and so we absolutely 77 00:04:48,960 --> 00:04:52,240 Speaker 1: do want to hone our strategy as we move on. 78 00:04:52,360 --> 00:04:55,080 Speaker 1: But we think that you know, having seen success in 79 00:04:55,160 --> 00:04:59,320 Speaker 1: each of the different methods that we've released movies in, UM, 80 00:04:59,360 --> 00:05:02,600 Speaker 1: you know, this flexibility is important to have right now, 81 00:05:02,720 --> 00:05:05,839 Speaker 1: and we may well find that we're gonna maintain, you know, 82 00:05:05,880 --> 00:05:11,520 Speaker 1: a flexible model and approach into the future. Got it. 83 00:05:11,720 --> 00:05:14,440 Speaker 1: Also something that struck me listening to the third quarter 84 00:05:14,480 --> 00:05:18,960 Speaker 1: call is kids content in particular is really resonating on 85 00:05:19,000 --> 00:05:23,040 Speaker 1: your platform. The Nickelodeon library is doing great. You mentioned 86 00:05:23,040 --> 00:05:27,320 Speaker 1: Paw Patrol, Clifford. We haven't even talked SpongeBob or the 87 00:05:27,400 --> 00:05:30,880 Speaker 1: new I Cardly, is this actually sort of becoming the 88 00:05:31,040 --> 00:05:34,520 Speaker 1: identity of paramount plus because you guys obviously marketed a 89 00:05:34,560 --> 00:05:37,120 Speaker 1: lot of different ways news and sports, but it does 90 00:05:37,160 --> 00:05:40,440 Speaker 1: feel like kids is sort of stepping out front. Well, 91 00:05:40,480 --> 00:05:44,640 Speaker 1: I mean, we just released Paranormal Paranormal Activity next to Kins. 92 00:05:44,640 --> 00:05:47,000 Speaker 1: So I wouldn't say our identity is that of a 93 00:05:47,120 --> 00:05:52,600 Speaker 1: kid's service per se, but uh, I would say that, 94 00:05:52,680 --> 00:05:54,919 Speaker 1: you know, kids is an area where we think that 95 00:05:55,040 --> 00:05:58,800 Speaker 1: we can be one of the leaders in streaming. It's 96 00:05:58,880 --> 00:06:02,480 Speaker 1: a plate we've think it's an underserved category. It's a 97 00:06:02,480 --> 00:06:06,720 Speaker 1: category that plays to buy a com CBS strengths with Nickelodeon, 98 00:06:06,760 --> 00:06:10,279 Speaker 1: the robust catalog that we have, UM, the originals and 99 00:06:10,279 --> 00:06:14,279 Speaker 1: the reboots that we're able to do UM on that catalog, UM, 100 00:06:14,400 --> 00:06:17,960 Speaker 1: and it really sort of fits nicely into our strategy 101 00:06:18,040 --> 00:06:20,800 Speaker 1: of being a whole household service. So what we're looking 102 00:06:20,880 --> 00:06:22,960 Speaker 1: to do with Paramount Plus is to have a service 103 00:06:23,000 --> 00:06:26,240 Speaker 1: that really, um you know, has something for everyone in 104 00:06:26,279 --> 00:06:29,400 Speaker 1: the family, from the dad who loves sports, to the 105 00:06:29,440 --> 00:06:31,960 Speaker 1: mom who might be into scripted dramas or some of 106 00:06:32,000 --> 00:06:36,479 Speaker 1: our original movies UM or to the kids who are 107 00:06:36,640 --> 00:06:39,839 Speaker 1: coming in droves for all that we have to offer 108 00:06:40,000 --> 00:06:43,560 Speaker 1: from on the kid's side. So it's it's a place 109 00:06:43,600 --> 00:06:46,960 Speaker 1: that we've seen lots of early success. We've also got 110 00:06:47,000 --> 00:06:50,320 Speaker 1: great franchises and kids UM and as anybody with a 111 00:06:50,360 --> 00:06:52,520 Speaker 1: parent with a with a kid knows, any parent with 112 00:06:52,560 --> 00:06:54,479 Speaker 1: a kid knows, I should say, um, you know, the 113 00:06:54,560 --> 00:06:57,320 Speaker 1: last thing you want to do once your kids gravitate 114 00:06:57,400 --> 00:07:00,919 Speaker 1: toward a streaming service UM is and subscribe from that 115 00:07:00,960 --> 00:07:03,880 Speaker 1: streaming service. So it really has great benefits in terms 116 00:07:03,880 --> 00:07:09,880 Speaker 1: of retention. Got it. Another thing that UH coming up 117 00:07:09,920 --> 00:07:13,720 Speaker 1: in the fourth quarter big test for new originals from 118 00:07:13,720 --> 00:07:20,120 Speaker 1: you guys, yellow Stone, South Park, new iterations, new UH spinoffs, 119 00:07:20,160 --> 00:07:25,080 Speaker 1: or I should say, of these franchises, how important are 120 00:07:25,160 --> 00:07:28,960 Speaker 1: these shows for Paramount Plus for the for these to 121 00:07:29,120 --> 00:07:33,240 Speaker 1: work because you don't have the core yellow Stone or 122 00:07:33,280 --> 00:07:36,040 Speaker 1: south Park on the service, those have been licensed out 123 00:07:36,080 --> 00:07:40,280 Speaker 1: to rivals, and you know, does that make these all 124 00:07:40,320 --> 00:07:44,160 Speaker 1: the more important to work? Well, I should start by 125 00:07:44,200 --> 00:07:47,280 Speaker 1: saying that the service is working, as you noted at 126 00:07:47,320 --> 00:07:50,440 Speaker 1: the top of this call, across our paid services where 127 00:07:50,480 --> 00:07:54,840 Speaker 1: at forty seven million global subscribers already, Paramount plus is 128 00:07:55,000 --> 00:08:00,440 Speaker 1: the driver of our paid UH subscription growth and again 129 00:08:00,520 --> 00:08:03,760 Speaker 1: has only just launched eight months ago. So we're very 130 00:08:03,920 --> 00:08:07,160 Speaker 1: very early innings UM with Paramount plus UM, and I 131 00:08:07,200 --> 00:08:10,200 Speaker 1: think streaming is just early innings to begin with. UM. 132 00:08:10,240 --> 00:08:13,040 Speaker 1: It's true that some of our products have been licensed 133 00:08:13,080 --> 00:08:16,920 Speaker 1: out UM Viacom CBS has long been in the licensing 134 00:08:17,000 --> 00:08:20,800 Speaker 1: business UM, and many of the decisions that were made 135 00:08:21,160 --> 00:08:26,360 Speaker 1: in order in terms of licensing content UM elsewhere we're 136 00:08:26,400 --> 00:08:30,000 Speaker 1: made well before we launched Paramount plus UM. But as 137 00:08:30,000 --> 00:08:32,880 Speaker 1: our business is evolving and streaming is a top priority 138 00:08:32,880 --> 00:08:36,480 Speaker 1: of the company, our approach to licensing is evolving as well, 139 00:08:36,600 --> 00:08:39,560 Speaker 1: and so we're you know, still in the licensing business 140 00:08:39,640 --> 00:08:43,880 Speaker 1: of course, but increasingly we are holding our i P 141 00:08:44,400 --> 00:08:48,720 Speaker 1: for our own streaming services UM, and we're leveraging UM 142 00:08:48,840 --> 00:08:52,720 Speaker 1: that i PU not just catalog, but also investing in 143 00:08:53,240 --> 00:08:56,840 Speaker 1: you know, reboots and spinoffs and other new original content 144 00:08:56,920 --> 00:09:00,240 Speaker 1: based on those franchises. So, um, we think it's uh, 145 00:09:00,280 --> 00:09:03,280 Speaker 1: it's a it's a great and evolving strategy and um, 146 00:09:03,320 --> 00:09:06,240 Speaker 1: we've got you know, it's it's you know, the the 147 00:09:06,240 --> 00:09:09,160 Speaker 1: amount of I P and franchises that we have across 148 00:09:09,280 --> 00:09:12,360 Speaker 1: the combined by A come CBS is so massive. I 149 00:09:12,360 --> 00:09:15,440 Speaker 1: think we've got a huge opportunity here and we're already 150 00:09:15,480 --> 00:09:20,560 Speaker 1: seeing the fruit, uh, the fruit of that work being 151 00:09:20,600 --> 00:09:25,080 Speaker 1: coming very important to the services results thus far. Do 152 00:09:25,160 --> 00:09:29,800 Speaker 1: you feel though that Viacom CBS has sort of a 153 00:09:29,920 --> 00:09:33,680 Speaker 1: defining hit at this point? And and could these new 154 00:09:33,840 --> 00:09:37,520 Speaker 1: versions of Yellowstone or South Park b that I mean, 155 00:09:38,960 --> 00:09:42,080 Speaker 1: I've seen some of the work that's not yet been 156 00:09:42,120 --> 00:09:45,120 Speaker 1: released shirt I mean Taylor Sheridan, Um, you know, we're 157 00:09:45,160 --> 00:09:49,160 Speaker 1: creating a universe on Paramount Plus around all of this 158 00:09:49,280 --> 00:09:53,920 Speaker 1: new content that he's creating from Mayor of Kingstown which 159 00:09:54,360 --> 00:09:59,280 Speaker 1: release releases very soon um to hye eight three and beyond. 160 00:09:59,480 --> 00:10:02,480 Speaker 1: So yes, I think that we're going to have you know, 161 00:10:02,720 --> 00:10:06,240 Speaker 1: lots of fantastic new shows that are created not just 162 00:10:06,320 --> 00:10:08,880 Speaker 1: by him but by many others. And uh, you know, 163 00:10:08,960 --> 00:10:11,880 Speaker 1: we're investing significantly in content. So you're going to see 164 00:10:12,160 --> 00:10:14,760 Speaker 1: a lot coming to Paramount Plus in the months ahead 165 00:10:15,559 --> 00:10:19,160 Speaker 1: and to date, as you said out here eight months now, 166 00:10:19,200 --> 00:10:21,520 Speaker 1: I've mentioned the success you've had with some kids content. 167 00:10:21,880 --> 00:10:24,320 Speaker 1: Are we overlooking anything in terms of what you see 168 00:10:24,320 --> 00:10:27,720 Speaker 1: as as the real success stories for Paramount Plus? Uh 169 00:10:27,760 --> 00:10:31,600 Speaker 1: in these first eight months, well, I mean we have 170 00:10:31,760 --> 00:10:36,200 Speaker 1: not been uh shy about saying how successful sports has been. 171 00:10:36,720 --> 00:10:41,160 Speaker 1: Um So, we have seen you know, record uh consumption 172 00:10:41,400 --> 00:10:45,880 Speaker 1: of of UH of NFL games recently. We've also had 173 00:10:45,920 --> 00:10:49,840 Speaker 1: lots of success with European football or soccer. Um So, 174 00:10:49,920 --> 00:10:52,760 Speaker 1: sports has been a great area of success for US. 175 00:10:53,200 --> 00:10:58,120 Speaker 1: Um Our movies have performed extremely well. Our originals in 176 00:10:58,240 --> 00:11:00,560 Speaker 1: terms of scripted dramas and other shows as have also 177 00:11:00,640 --> 00:11:03,600 Speaker 1: done well. So um you know, kids is just one 178 00:11:03,679 --> 00:11:07,360 Speaker 1: part of the story, got it? You know? Just the 179 00:11:07,360 --> 00:11:10,199 Speaker 1: whole notion of a hit in the streaming game these 180 00:11:10,280 --> 00:11:13,439 Speaker 1: days has been redefined I think by Netflix with what 181 00:11:13,480 --> 00:11:17,400 Speaker 1: it achieved with Squid Games. And I was curious, do 182 00:11:17,440 --> 00:11:21,240 Speaker 1: you think Viacom CBS can achieve that kind of international 183 00:11:21,400 --> 00:11:24,760 Speaker 1: hit with the increased emphasis you're starting to put on 184 00:11:24,840 --> 00:11:30,360 Speaker 1: locally produced content in Latin America or elsewhere. Absolutely so. 185 00:11:30,880 --> 00:11:35,160 Speaker 1: Bicom CBS is one of the biggest creators of content globally, UH, 186 00:11:35,320 --> 00:11:38,880 Speaker 1: not just creators of content here in America that we export, 187 00:11:38,960 --> 00:11:42,000 Speaker 1: but creators of content UM in many different parts of 188 00:11:42,000 --> 00:11:45,079 Speaker 1: the world. UM. And at the same time, we also 189 00:11:45,160 --> 00:11:49,280 Speaker 1: have a global streaming strategy. Streaming is a global mega trend. 190 00:11:49,360 --> 00:11:51,959 Speaker 1: We're rolling out our streaming services around the world. We're 191 00:11:51,960 --> 00:11:55,600 Speaker 1: already in twenty five countries for Paramount Plus and growing, 192 00:11:55,880 --> 00:11:59,640 Speaker 1: and we're already in twenty six countries for Pluto tv UM. 193 00:11:59,640 --> 00:12:02,960 Speaker 1: We did a couple of M and A transactions very 194 00:12:03,000 --> 00:12:09,480 Speaker 1: recently where we acquired significant portions of additional broadcasters in 195 00:12:09,520 --> 00:12:13,680 Speaker 1: South America, making us one of we already were, but 196 00:12:13,760 --> 00:12:16,360 Speaker 1: that just reinforced us as one of the biggest creators 197 00:12:16,360 --> 00:12:20,480 Speaker 1: of Spanish language content, which, as you know, UM travels 198 00:12:20,520 --> 00:12:23,520 Speaker 1: really well around the world and has been responsible for 199 00:12:23,600 --> 00:12:27,200 Speaker 1: some of the biggest hits in UH in streaming. So 200 00:12:27,840 --> 00:12:31,319 Speaker 1: we think that we are incredibly well positioned both from 201 00:12:31,320 --> 00:12:34,920 Speaker 1: a distribution perspective as we continue to scale up these 202 00:12:34,960 --> 00:12:38,080 Speaker 1: streaming services across free and pay around the world, but 203 00:12:38,240 --> 00:12:42,440 Speaker 1: also you know, from a content creation perspective, UM on 204 00:12:42,480 --> 00:12:44,200 Speaker 1: a on a not just on a U S, but 205 00:12:44,280 --> 00:12:47,520 Speaker 1: on a local basis where we can export to all 206 00:12:47,520 --> 00:12:50,760 Speaker 1: the different countries that are streaming services are present um 207 00:12:50,880 --> 00:12:54,160 Speaker 1: in order to you know, really have the type of 208 00:12:54,200 --> 00:12:56,440 Speaker 1: global scale and success that you need to be a 209 00:12:56,440 --> 00:12:59,600 Speaker 1: global streamer today. Yeah, I mean, because that really is 210 00:12:59,640 --> 00:13:02,760 Speaker 1: the name of the game, isn't it. And when you 211 00:13:02,800 --> 00:13:06,319 Speaker 1: guys have had some impressive growth, but right now as 212 00:13:06,360 --> 00:13:10,000 Speaker 1: it stands, in the streaming game, there are some bigger, 213 00:13:10,080 --> 00:13:14,120 Speaker 1: much bigger I should say, global services, and you guys 214 00:13:14,160 --> 00:13:16,840 Speaker 1: are certainly pledging to spend a lot of on content. 215 00:13:16,920 --> 00:13:19,040 Speaker 1: I think that the figure on the latest call was 216 00:13:19,520 --> 00:13:22,680 Speaker 1: five billion by the end of which is a huge 217 00:13:22,760 --> 00:13:26,040 Speaker 1: number for Viacom CBS. It shows how serious you guys are, 218 00:13:26,440 --> 00:13:29,120 Speaker 1: and yet it pales in comparison to what some of 219 00:13:29,160 --> 00:13:32,880 Speaker 1: the other spending estimates are like. And so the simple 220 00:13:32,960 --> 00:13:36,920 Speaker 1: question is is this truly enough to compete and sort 221 00:13:36,960 --> 00:13:41,480 Speaker 1: of crack that first tier of streaming services. I mean, 222 00:13:41,520 --> 00:13:44,280 Speaker 1: we think that we are very well positioned. I mean, 223 00:13:44,320 --> 00:13:47,440 Speaker 1: not only are we going to be committing or we're 224 00:13:47,480 --> 00:13:51,120 Speaker 1: already committing, and we will continue to increase the commitment 225 00:13:51,440 --> 00:13:54,920 Speaker 1: of billions of dollars of content. But we've got a 226 00:13:54,960 --> 00:14:00,520 Speaker 1: massive library across book via Com and CBS now combined. UM, 227 00:14:00,679 --> 00:14:04,280 Speaker 1: all of that together we think positions us for great 228 00:14:04,280 --> 00:14:07,959 Speaker 1: success and streaming. Well, I think something else that will 229 00:14:08,040 --> 00:14:12,280 Speaker 1: help was this deal you guys just announced with T Mobile. Uh. 230 00:14:12,320 --> 00:14:15,520 Speaker 1: It seems like there's a number of deals that you 231 00:14:15,559 --> 00:14:20,600 Speaker 1: guys have in place with Amazon channels, with Sky all 232 00:14:20,720 --> 00:14:24,760 Speaker 1: that should help paramount plus scale. But I do wonder 233 00:14:24,840 --> 00:14:26,920 Speaker 1: when you strike these kind of deals, is there were 234 00:14:26,920 --> 00:14:29,320 Speaker 1: a risk of too much trade off in terms of 235 00:14:29,360 --> 00:14:33,359 Speaker 1: the data and the revenue that you lose to the partners, 236 00:14:34,160 --> 00:14:39,200 Speaker 1: you know, in exchange for scale on these deals. UM. Well, 237 00:14:39,240 --> 00:14:42,400 Speaker 1: I mean, you know, we think that broad and ubiquitous 238 00:14:42,440 --> 00:14:47,160 Speaker 1: distribution really leads to scale. So the strategy really is 239 00:14:47,200 --> 00:14:51,840 Speaker 1: to manage this diversified portfolio of distributors UM, and in 240 00:14:51,960 --> 00:14:56,000 Speaker 1: doing that we maximize and optimize growth. UM. So it's 241 00:14:56,040 --> 00:14:58,640 Speaker 1: true that a service UM in certain cases has less 242 00:14:58,760 --> 00:15:03,000 Speaker 1: visibility into channels user than a D two C user, 243 00:15:03,400 --> 00:15:08,240 Speaker 1: but there's advantages. One UM is that our portfolio strategies 244 00:15:08,320 --> 00:15:11,840 Speaker 1: yielded a very large directed consumer base, and we've got 245 00:15:11,880 --> 00:15:15,680 Speaker 1: excellent visibility on those users today. UM and too. It's 246 00:15:15,720 --> 00:15:19,960 Speaker 1: important to extend the service to users wherever they are, 247 00:15:20,080 --> 00:15:25,240 Speaker 1: and we're growing paramount plus faster as a result of that. UM. 248 00:15:25,280 --> 00:15:28,200 Speaker 1: You know, we're also UM you know, one of the 249 00:15:28,520 --> 00:15:32,000 Speaker 1: or i'd say we're the biggest partner in the channels 250 00:15:32,000 --> 00:15:35,760 Speaker 1: space as others are abandoning UM. That is a distribution 251 00:15:35,840 --> 00:15:40,880 Speaker 1: method UM. As for revenue, I think it's critical that 252 00:15:40,920 --> 00:15:45,720 Speaker 1: Paramount Plus is fully distributed and aligning our incentives with 253 00:15:46,000 --> 00:15:49,840 Speaker 1: distribution partners means that those and partners, those distribution partners 254 00:15:49,920 --> 00:15:53,200 Speaker 1: invest in our growth. And that's exactly how we were 255 00:15:53,240 --> 00:15:57,040 Speaker 1: able to scale Pluto to TV so quickly we launched 256 00:15:57,080 --> 00:15:59,240 Speaker 1: that seven years ago. It's going to be a billion 257 00:15:59,280 --> 00:16:03,680 Speaker 1: dollar business this year in just seven years after launch, 258 00:16:03,880 --> 00:16:09,320 Speaker 1: largely through shared success and aligned interest with distribution partners 259 00:16:09,360 --> 00:16:12,720 Speaker 1: which were also bringing to Paramount plus UM. And as 260 00:16:12,720 --> 00:16:16,320 Speaker 1: for T Mobile, it is massive promotion UM, but it's 261 00:16:16,360 --> 00:16:19,880 Speaker 1: not that's not limited to just certain tiers. That's available 262 00:16:19,920 --> 00:16:24,680 Speaker 1: to any T Mobile or Sprint postpaid customer UM. And 263 00:16:24,720 --> 00:16:28,600 Speaker 1: it's actually driving direct to consumer users. So there's really 264 00:16:28,600 --> 00:16:32,920 Speaker 1: no data tradeoff for us there. But with with Amazon, 265 00:16:33,520 --> 00:16:35,320 Speaker 1: it sounds like you see there's some value to the 266 00:16:35,360 --> 00:16:37,360 Speaker 1: fact that a lot of the other rivals of yours 267 00:16:37,400 --> 00:16:41,360 Speaker 1: are are stepping out of that space for their own reasons. 268 00:16:41,360 --> 00:16:44,360 Speaker 1: But it sounds like you think there's actually some strength 269 00:16:44,400 --> 00:16:49,760 Speaker 1: in in staying on there and facing less competition. We do. Yeah, 270 00:16:49,960 --> 00:16:51,960 Speaker 1: we think they've been a great partner and they've helped 271 00:16:52,080 --> 00:16:57,480 Speaker 1: us um scale and again where there's aligned incentives and 272 00:16:57,520 --> 00:16:59,920 Speaker 1: a and a shared approach to growing the business, to 273 00:17:00,000 --> 00:17:02,080 Speaker 1: whether we think that they can be an important part 274 00:17:02,080 --> 00:17:07,919 Speaker 1: of our continued growth. We'll be back in just a 275 00:17:07,920 --> 00:17:18,359 Speaker 1: minute with more from Tom Ryan of Viacom CBS. We're 276 00:17:18,359 --> 00:17:21,600 Speaker 1: back talking with Tom Ryan, who oversees streaming services like 277 00:17:21,640 --> 00:17:26,960 Speaker 1: Paramount Plus and Pluto TV for Viacom CBS. I referenced 278 00:17:26,960 --> 00:17:31,080 Speaker 1: earlier this notion of you know, tears in terms of 279 00:17:31,200 --> 00:17:36,000 Speaker 1: the amount of competition you've got out there. I'm curious 280 00:17:36,040 --> 00:17:39,080 Speaker 1: though there's been it feels like there's new data every 281 00:17:39,080 --> 00:17:44,119 Speaker 1: month about the consumer appetite for subscription streaming services. What 282 00:17:44,280 --> 00:17:46,639 Speaker 1: is your take on that now? And do you feel 283 00:17:46,680 --> 00:17:50,919 Speaker 1: that Viacom CBS has sort of earned a spot among 284 00:17:51,520 --> 00:17:55,960 Speaker 1: you know, a limited number of players. Yeah, so, I 285 00:17:56,000 --> 00:18:00,359 Speaker 1: mean it's funny. I mean, well, first of all, you know, 286 00:18:00,400 --> 00:18:04,600 Speaker 1: streaming is still in its infancy in my opinion, UM. 287 00:18:04,640 --> 00:18:08,119 Speaker 1: And that's across both free and pay. But you know, 288 00:18:08,200 --> 00:18:12,040 Speaker 1: when you're talking about UM paid, it's it's funny because 289 00:18:12,160 --> 00:18:16,600 Speaker 1: as an entrepreneur when Pluto was independent, UM, one of 290 00:18:16,640 --> 00:18:18,400 Speaker 1: the things that I would say when I would come 291 00:18:18,400 --> 00:18:21,480 Speaker 1: on your podcast or speak at other conferences was that, 292 00:18:21,960 --> 00:18:25,400 Speaker 1: you know, people would be interested in free streaming services 293 00:18:25,480 --> 00:18:28,320 Speaker 1: because they're only going to subscribe to one or two 294 00:18:28,400 --> 00:18:31,440 Speaker 1: paid services. And at the time, this was just three 295 00:18:31,520 --> 00:18:35,240 Speaker 1: four short years ago, that was true. UM. I was 296 00:18:35,280 --> 00:18:38,000 Speaker 1: wrong though. I mean, people are now subscribing to four 297 00:18:38,119 --> 00:18:42,320 Speaker 1: or five paid services, and that could go significantly northward 298 00:18:42,359 --> 00:18:44,639 Speaker 1: from here. And the reason is that people are finding 299 00:18:44,640 --> 00:18:47,920 Speaker 1: great value and paid streaming services as more and more 300 00:18:48,040 --> 00:18:52,120 Speaker 1: high quality paid streaming services come to market um at 301 00:18:52,160 --> 00:18:56,359 Speaker 1: affordable pricing, which paramount plus has in spades, UM. And 302 00:18:56,440 --> 00:18:59,920 Speaker 1: as people are increasingly just streaming and connecting their tea 303 00:19:00,040 --> 00:19:02,280 Speaker 1: these to the Internet. I don't know if you can 304 00:19:02,320 --> 00:19:05,280 Speaker 1: buy a TV that doesn't have a smart operating system 305 00:19:05,359 --> 00:19:08,240 Speaker 1: and uh, you know sort of prompts you to connect 306 00:19:08,240 --> 00:19:11,240 Speaker 1: to the internet. UM. And so there are you know, 307 00:19:11,400 --> 00:19:14,480 Speaker 1: massive winds at the back of streamers. I'm not going 308 00:19:14,520 --> 00:19:17,000 Speaker 1: to say that like every streaming service is going to 309 00:19:17,040 --> 00:19:20,439 Speaker 1: be successful. I think what unites what we do via 310 00:19:20,520 --> 00:19:23,200 Speaker 1: com CBS both across Free and Pay with Pluto and 311 00:19:23,240 --> 00:19:26,480 Speaker 1: Paramount Plus is that these are broad based services that 312 00:19:26,520 --> 00:19:29,639 Speaker 1: are for the whole household and have all the benefits 313 00:19:29,680 --> 00:19:32,640 Speaker 1: of scale that come with that, UM as well as 314 00:19:32,720 --> 00:19:35,800 Speaker 1: the retention benefits of being services that get used by 315 00:19:35,880 --> 00:19:40,640 Speaker 1: multiple people in the household. UM. So you know, we're 316 00:19:40,720 --> 00:19:44,320 Speaker 1: the space is evolving very quickly. UM. People are paying 317 00:19:44,359 --> 00:19:47,720 Speaker 1: for more streaming services. They're also using you know, freed serve. 318 00:19:47,960 --> 00:19:50,520 Speaker 1: It has an impact the what I said back years 319 00:19:50,520 --> 00:19:53,240 Speaker 1: ago either about free free as in hyper growth to 320 00:19:53,720 --> 00:19:56,560 Speaker 1: people are just streaming a lot more and the like 321 00:19:56,640 --> 00:19:59,840 Speaker 1: this rising tide is gonna list lift um boats. It's 322 00:19:59,880 --> 00:20:02,160 Speaker 1: not kind of lift all the boats, but the best 323 00:20:02,160 --> 00:20:05,520 Speaker 1: boats will rise significantly as a result. And we've got 324 00:20:05,560 --> 00:20:07,480 Speaker 1: the best boat and free and we're building the best 325 00:20:07,480 --> 00:20:09,280 Speaker 1: boat or one of the best boats, I should say, 326 00:20:09,320 --> 00:20:12,240 Speaker 1: and pay. And what's interesting about your strategy is you 327 00:20:12,320 --> 00:20:15,960 Speaker 1: kind of bolt the boats together, like you know, Pluto 328 00:20:16,240 --> 00:20:21,080 Speaker 1: serves Paramount Plus. There's some integration there. Describe what the 329 00:20:21,119 --> 00:20:24,840 Speaker 1: strategy is there and why it's the way to go. Yeah. So, 330 00:20:25,000 --> 00:20:28,359 Speaker 1: I mean the strategy behind creating a unified streaming group 331 00:20:28,440 --> 00:20:31,080 Speaker 1: was so that we could actually take this unique strategy 332 00:20:31,119 --> 00:20:34,080 Speaker 1: across free and pay um and bring it to market, 333 00:20:34,160 --> 00:20:40,120 Speaker 1: but with a unified team that's building our streaming platforms together, 334 00:20:40,320 --> 00:20:43,920 Speaker 1: rather than building them as you know fifetoms UM with 335 00:20:44,000 --> 00:20:49,119 Speaker 1: different teams and different goals UM and with the intent 336 00:20:49,240 --> 00:20:52,160 Speaker 1: of making the one plus one of free and pay 337 00:20:52,359 --> 00:20:55,960 Speaker 1: equal free UM. So you know what we've been doing, 338 00:20:56,000 --> 00:20:58,639 Speaker 1: and again this is very early days. This streaming group 339 00:20:58,720 --> 00:21:02,240 Speaker 1: was created a year ago when I was pointed to 340 00:21:02,320 --> 00:21:05,919 Speaker 1: my new role, and we've built a unified streaming executive 341 00:21:05,920 --> 00:21:08,800 Speaker 1: team and we've got of course there's folks who were focused, 342 00:21:08,880 --> 00:21:11,760 Speaker 1: you know, just on one service versus another, but increasingly 343 00:21:11,840 --> 00:21:16,680 Speaker 1: we have our entire streaming group focused on the opportunity 344 00:21:16,720 --> 00:21:20,040 Speaker 1: to grow the overall business as much as possible. And 345 00:21:20,480 --> 00:21:24,159 Speaker 1: you know, interlinking this ecosystem where we can move users 346 00:21:24,200 --> 00:21:27,160 Speaker 1: from one service to the next, we think is really 347 00:21:27,200 --> 00:21:31,280 Speaker 1: important and we've already seen some great early success. Example 348 00:21:31,320 --> 00:21:34,600 Speaker 1: would be UM the channels that we put for Paramount 349 00:21:34,640 --> 00:21:39,080 Speaker 1: plus UH and for Showtime, O T t Onto Pluto TV, 350 00:21:39,240 --> 00:21:42,400 Speaker 1: where we'll put premium content in front of the paywall 351 00:21:42,440 --> 00:21:45,560 Speaker 1: as a linear channel on Pluto t V. UM and 352 00:21:45,720 --> 00:21:49,760 Speaker 1: those uh, those channels on Pluto TV have driven more 353 00:21:49,960 --> 00:21:55,000 Speaker 1: starts for subscriptions or more trials UM for our paid 354 00:21:55,040 --> 00:21:58,480 Speaker 1: services than when we put the same content for free 355 00:21:58,480 --> 00:22:00,760 Speaker 1: in front of front of a paywall, of course, on YouTube, 356 00:22:00,800 --> 00:22:04,320 Speaker 1: which has billions of users. So it's showing you how 357 00:22:04,359 --> 00:22:08,120 Speaker 1: effective this um already is in its infancy. And we've 358 00:22:08,160 --> 00:22:10,879 Speaker 1: got a very significant roadmap of other things that we 359 00:22:10,920 --> 00:22:13,840 Speaker 1: want to do to bring these services together and make 360 00:22:13,880 --> 00:22:17,240 Speaker 1: them again make the one plus one equal three. And 361 00:22:17,480 --> 00:22:22,040 Speaker 1: I follow your logic, but I also wonder if there's 362 00:22:22,119 --> 00:22:25,919 Speaker 1: just some simplicity in, for instance, one brand to market 363 00:22:26,080 --> 00:22:31,879 Speaker 1: instead of paramount plus showtime. Pluto and Viacon still is 364 00:22:31,960 --> 00:22:35,159 Speaker 1: other things, UM, So what what do you make of 365 00:22:35,200 --> 00:22:41,679 Speaker 1: the simplicity argument. I think the simplicity argument UM makes 366 00:22:41,760 --> 00:22:46,080 Speaker 1: sense on the surface, but when you dive deeper, you 367 00:22:46,160 --> 00:22:50,800 Speaker 1: see that there's great reasons to actually maintain different services. 368 00:22:50,840 --> 00:22:54,600 Speaker 1: So let's take free and pay to start. Pluto is 369 00:22:54,640 --> 00:22:58,679 Speaker 1: a free streaming TV service. It is instant, there's no 370 00:22:58,800 --> 00:23:03,240 Speaker 1: friction you turn. I mean when we actually launched Pluto, 371 00:23:03,320 --> 00:23:05,840 Speaker 1: we didn't even ask for a sign up because we 372 00:23:05,920 --> 00:23:08,399 Speaker 1: wanted you to be able to sort of experience that 373 00:23:08,560 --> 00:23:13,480 Speaker 1: magic of turning on the TV through your web browser. UM, 374 00:23:13,520 --> 00:23:17,560 Speaker 1: and then ultimately the service largely became a connected TV business. UM. 375 00:23:17,640 --> 00:23:22,280 Speaker 1: But you know, having that simplicity of just letting people 376 00:23:22,520 --> 00:23:25,439 Speaker 1: engage with Pluto and having it be as frictionless and 377 00:23:25,480 --> 00:23:30,560 Speaker 1: as built in as possible UM is a huge advantage 378 00:23:30,560 --> 00:23:32,400 Speaker 1: and one of the reasons why Pluto is the leader 379 00:23:32,400 --> 00:23:36,199 Speaker 1: in its category. On the paid side, UM. You know, 380 00:23:36,320 --> 00:23:39,040 Speaker 1: we think that you know, let's just take paramount plus 381 00:23:39,040 --> 00:23:42,960 Speaker 1: a showtime for example. I mean, those services appealed to 382 00:23:43,880 --> 00:23:47,600 Speaker 1: UM largely different users. There's very little overlap in the 383 00:23:47,760 --> 00:23:51,639 Speaker 1: subscriber base, although there is some UM and so you 384 00:23:51,680 --> 00:23:54,840 Speaker 1: know the but but you know, as we think about 385 00:23:54,840 --> 00:23:57,400 Speaker 1: it from a business perspective, we want to make sure 386 00:23:57,480 --> 00:24:02,240 Speaker 1: that we're addressing the largest possible audio. It's with paramount Plus. 387 00:24:02,320 --> 00:24:06,320 Speaker 1: We offer that everything that paramounts plus offers. The content 388 00:24:06,440 --> 00:24:11,320 Speaker 1: is not tiered in any way, UH, with some very 389 00:24:11,440 --> 00:24:15,360 Speaker 1: very small exceptions. UM for four dollars and ninety nine 390 00:24:15,359 --> 00:24:18,639 Speaker 1: cents so for you know, and that's for with ads. 391 00:24:18,680 --> 00:24:22,000 Speaker 1: So that's a very very attractive price point. UM. If 392 00:24:22,000 --> 00:24:24,520 Speaker 1: Showtime we're bundled in there, it would not be made 393 00:24:24,560 --> 00:24:28,240 Speaker 1: available at that price. So we want and and as 394 00:24:28,280 --> 00:24:30,760 Speaker 1: I mentioned, like the overlap between the two services is 395 00:24:30,800 --> 00:24:34,919 Speaker 1: not UM, it is not very large. So UM we 396 00:24:34,960 --> 00:24:37,280 Speaker 1: want people to be able to get Paramount plus for 397 00:24:37,320 --> 00:24:40,280 Speaker 1: four ninety nine UM and if they want Showtime, yes, 398 00:24:40,280 --> 00:24:42,040 Speaker 1: they can add it on. And we're doing everything that 399 00:24:42,080 --> 00:24:44,199 Speaker 1: we can to make it as easy as possible for 400 00:24:44,240 --> 00:24:47,720 Speaker 1: people to UM buy the two services if they're interested, 401 00:24:47,920 --> 00:24:51,280 Speaker 1: and we're doing that through bundling and other initiatives. UM. 402 00:24:51,359 --> 00:24:54,400 Speaker 1: But you know, to to address the largest possible audience, 403 00:24:54,440 --> 00:24:59,360 Speaker 1: we think it's important to maintain them as they are today. Yeah, 404 00:25:00,040 --> 00:25:04,600 Speaker 1: Judo clearly is a growth story. You put that brand 405 00:25:04,640 --> 00:25:08,160 Speaker 1: on the map. It's why Viacom CBS bought it. Clearly 406 00:25:08,200 --> 00:25:11,320 Speaker 1: the market leader. However, when you look at the third 407 00:25:11,400 --> 00:25:15,400 Speaker 1: quarter numbers, it does seem that the growth is slowing. 408 00:25:15,480 --> 00:25:18,560 Speaker 1: The two point one million adds was the lowest you've 409 00:25:19,040 --> 00:25:22,800 Speaker 1: added since the first quarter of It was below Wall 410 00:25:22,840 --> 00:25:26,760 Speaker 1: Street projections. What is going on there? UM, It does 411 00:25:26,800 --> 00:25:29,760 Speaker 1: seem like there's a lot of competition in the space 412 00:25:29,840 --> 00:25:32,760 Speaker 1: now and I guess that's sort of the downside of 413 00:25:32,760 --> 00:25:37,400 Speaker 1: of successes. You get a lot of imitators. Uh sure, So, 414 00:25:37,560 --> 00:25:40,760 Speaker 1: I mean, as you mentioned, Pluto TV is the leader 415 00:25:40,760 --> 00:25:45,520 Speaker 1: in its category by a long margin. Um. If if anything, 416 00:25:46,040 --> 00:25:49,239 Speaker 1: we're extending our lead. UM. So m a use are 417 00:25:49,240 --> 00:25:52,640 Speaker 1: an important metric. They don't tell the whole story. Um. 418 00:25:52,720 --> 00:25:56,280 Speaker 1: So we had two and a half million I think 419 00:25:56,720 --> 00:26:00,560 Speaker 1: m a use quarterly growth um. But where the leader 420 00:26:00,560 --> 00:26:03,440 Speaker 1: in m a use, were the leader in total viewing hours, 421 00:26:03,600 --> 00:26:07,159 Speaker 1: and we're the leader in revenue um. And you know, 422 00:26:07,320 --> 00:26:10,240 Speaker 1: Pluto TV has grown in three years. So the company 423 00:26:10,280 --> 00:26:14,359 Speaker 1: was acquired at the end of eighteen. Beginning of nineteen eighteen, 424 00:26:14,400 --> 00:26:16,960 Speaker 1: we did seventy million in revenue. This year, we're going 425 00:26:17,000 --> 00:26:21,840 Speaker 1: to do over a billion. Uh you know, it's it's 426 00:26:21,880 --> 00:26:25,960 Speaker 1: it's it's accelerating. Uh. You know, it's lead in the category. 427 00:26:26,000 --> 00:26:30,280 Speaker 1: And the growth is you know, extremely significant. So m 428 00:26:30,280 --> 00:26:34,520 Speaker 1: AU is important. Total viewing hours or engagement and revenue 429 00:26:34,760 --> 00:26:38,760 Speaker 1: also extremely important. And you know you're seeing massive growth there. 430 00:26:39,640 --> 00:26:42,840 Speaker 1: It's clearly growing like a weed. I'm guess I'm curious 431 00:26:42,880 --> 00:26:47,879 Speaker 1: about the next phase of growth. And sometimes uh, you know, 432 00:26:48,000 --> 00:26:52,119 Speaker 1: companies that sort of grow too fast, too quickly run 433 00:26:52,119 --> 00:26:56,480 Speaker 1: into problems. UM. How are you ensuring that that Pluto 434 00:26:56,640 --> 00:27:03,760 Speaker 1: doesn't do that? UM? Well, I mean listen, you know, 435 00:27:03,920 --> 00:27:07,000 Speaker 1: we look at Pluto TV as a flywheel where you know, 436 00:27:07,119 --> 00:27:11,520 Speaker 1: more and better content UM distributed through a simple frictionless 437 00:27:12,040 --> 00:27:17,960 Speaker 1: product U ubiquitously distributed on all devices, and monetize well. 438 00:27:18,640 --> 00:27:21,240 Speaker 1: UM creates this fly will where you invest more and 439 00:27:21,280 --> 00:27:24,200 Speaker 1: more in it. You know, you invest more in content, 440 00:27:24,440 --> 00:27:27,760 Speaker 1: more distribution, you monetize better and it just becomes a 441 00:27:27,800 --> 00:27:31,080 Speaker 1: snowball that allows you to invest in and really provides 442 00:27:31,119 --> 00:27:34,399 Speaker 1: a competitive mode in some ways to the leader in 443 00:27:34,440 --> 00:27:37,959 Speaker 1: the category. And so yes, there's more competition today in 444 00:27:37,960 --> 00:27:41,480 Speaker 1: a space that we helped a pioneer and popularize. UM. 445 00:27:41,600 --> 00:27:46,840 Speaker 1: But you know, the the Pluto growth and everything that 446 00:27:46,880 --> 00:27:50,560 Speaker 1: we deliver because we're a shared success model for our 447 00:27:50,600 --> 00:27:55,320 Speaker 1: content partners and our distribution partners. UM. You know, speak 448 00:27:55,359 --> 00:27:57,439 Speaker 1: to any of them and you will see that you know, 449 00:27:57,480 --> 00:28:01,320 Speaker 1: Pluto continues to you know, grow at a rate that 450 00:28:01,640 --> 00:28:06,159 Speaker 1: you know pleases them all uh significantly and has them 451 00:28:06,200 --> 00:28:08,760 Speaker 1: you know, partnering with us more more and more closely. 452 00:28:08,840 --> 00:28:11,480 Speaker 1: And so UM, you know, I don't know that there's 453 00:28:11,520 --> 00:28:15,640 Speaker 1: necessarily you know, an issue from that growth. I'd say 454 00:28:15,720 --> 00:28:19,159 Speaker 1: that's our job is to to grow not just for 455 00:28:19,560 --> 00:28:23,280 Speaker 1: the benefit of Viacom, CBS and our users, but also 456 00:28:23,400 --> 00:28:29,520 Speaker 1: for our partners on the content distribution and advertising side, UM, 457 00:28:29,600 --> 00:28:34,840 Speaker 1: to deliver, you know, against their objectives. On the programming front, 458 00:28:34,960 --> 00:28:38,440 Speaker 1: I see more and more talk about some of your 459 00:28:38,480 --> 00:28:43,040 Speaker 1: competitors stepping up their original programming game. What are you 460 00:28:43,080 --> 00:28:46,239 Speaker 1: guys doing on this front? I wonder whether we're going 461 00:28:46,280 --> 00:28:48,760 Speaker 1: to see sort of the gap between a Paramount plus 462 00:28:48,800 --> 00:28:52,640 Speaker 1: and A and a Pluto start to narrow as the 463 00:28:52,720 --> 00:28:58,800 Speaker 1: expectations grow. You're talking specifically on Pluto for Yeah, so listen, 464 00:28:58,840 --> 00:29:03,200 Speaker 1: we've done a few things, uh there that you know, 465 00:29:03,280 --> 00:29:06,440 Speaker 1: we we We've had some content that we've acquired that 466 00:29:06,480 --> 00:29:10,480 Speaker 1: has not been released elsewhere, UM, such as Bajillion Dollar Properties, 467 00:29:10,520 --> 00:29:12,880 Speaker 1: a comedy show that we put on which I guess 468 00:29:12,920 --> 00:29:17,440 Speaker 1: technically could be considered a Pluto original in its last season, UM, 469 00:29:17,480 --> 00:29:19,520 Speaker 1: which is the one that had been on Seat and 470 00:29:19,280 --> 00:29:23,080 Speaker 1: we got the catalog as well. UM. And then we've 471 00:29:23,360 --> 00:29:29,160 Speaker 1: released other content that hadn't been released elsewhere, UM, including 472 00:29:29,280 --> 00:29:33,280 Speaker 1: you know, a documentary that got us our first Emmy recently, 473 00:29:33,360 --> 00:29:38,840 Speaker 1: which is seventy six days, which created by by MTV Studios. UM. 474 00:29:38,920 --> 00:29:42,400 Speaker 1: So there are cases of original content, but you know, 475 00:29:42,520 --> 00:29:45,160 Speaker 1: for Pluto TV, by and large, we think about our 476 00:29:45,240 --> 00:29:49,280 Speaker 1: channels as our originals. UM. People come to Pluto in 477 00:29:49,400 --> 00:29:54,959 Speaker 1: order to have an effortless curated entertainment experience. When they 478 00:29:54,960 --> 00:29:58,040 Speaker 1: don't feel like making decisions about what they want to 479 00:29:58,080 --> 00:30:00,880 Speaker 1: watch at the precise moment that there to be entertained, 480 00:30:00,880 --> 00:30:03,920 Speaker 1: they just want to throw on a channel that speaks 481 00:30:03,960 --> 00:30:06,280 Speaker 1: to them. Uh. And a lot of our channels are 482 00:30:06,280 --> 00:30:09,240 Speaker 1: descriptive in nature UM, so you know exactly what to 483 00:30:09,320 --> 00:30:12,200 Speaker 1: expect when you go into that channel. UM. And they 484 00:30:12,240 --> 00:30:14,320 Speaker 1: just want to lean back and be entertained for hours 485 00:30:14,520 --> 00:30:18,520 Speaker 1: and so UM investing in making sure that those channels 486 00:30:18,600 --> 00:30:22,640 Speaker 1: are well branded, have the best possible content. Increasingly have 487 00:30:22,760 --> 00:30:26,640 Speaker 1: exclusive content both from third parties that we licensed from 488 00:30:26,680 --> 00:30:29,680 Speaker 1: as well as from Viacom CBS. A lot of the 489 00:30:29,720 --> 00:30:33,200 Speaker 1: content UH vast majority. I would say, if the content 490 00:30:33,240 --> 00:30:36,440 Speaker 1: we get on Pluto from Viacom CBS UM is not 491 00:30:36,520 --> 00:30:39,760 Speaker 1: available elsewhere in the faster a BOD category. So these 492 00:30:39,840 --> 00:30:44,000 Speaker 1: channels are almost like our originals, UM, and we invest 493 00:30:44,040 --> 00:30:46,960 Speaker 1: in them more and more UM with each month as 494 00:30:47,000 --> 00:30:50,200 Speaker 1: that fly wheel spins faster and we're able to monetize 495 00:30:50,200 --> 00:30:53,720 Speaker 1: better for our content partners. UM. I'm not saying that 496 00:30:53,800 --> 00:30:58,120 Speaker 1: we wouldn't have a more aggressive strategy and originals over time, 497 00:30:58,680 --> 00:31:02,360 Speaker 1: but the business this is growing so fast and you know, 498 00:31:02,440 --> 00:31:07,280 Speaker 1: the global opportunity is so large that UM, you know, 499 00:31:07,480 --> 00:31:12,120 Speaker 1: unlike a paid service that really stands out with UM 500 00:31:12,200 --> 00:31:16,960 Speaker 1: its originals. You know, Pluto TV UH stands out with 501 00:31:17,200 --> 00:31:21,560 Speaker 1: you know, its channel offering and its distribution. Let approach 502 00:31:21,640 --> 00:31:26,120 Speaker 1: to scaling and globally. How far have you gotten in 503 00:31:26,240 --> 00:31:28,959 Speaker 1: terms of getting Pluto outside the US and what are 504 00:31:29,000 --> 00:31:33,880 Speaker 1: the next places you'll be? Yeah, so right now we're 505 00:31:33,960 --> 00:31:38,960 Speaker 1: in uh, the US, South America, and Europe. So we're 506 00:31:38,960 --> 00:31:42,680 Speaker 1: in twenty six countries. We launched France earlier this year. 507 00:31:42,720 --> 00:31:47,040 Speaker 1: We just launched Italy uh very recently a couple of 508 00:31:47,080 --> 00:31:50,800 Speaker 1: weeks ago. UM, and we've got more and more countries 509 00:31:51,640 --> 00:31:54,760 Speaker 1: on the on the horizon. So you know, we when 510 00:31:54,760 --> 00:31:58,880 Speaker 1: we started Pluto, our our mantra was you know, entertaining 511 00:31:58,920 --> 00:32:00,920 Speaker 1: the planet, and we on it to be the global 512 00:32:01,000 --> 00:32:04,240 Speaker 1: leader of free ad supported streaming TV. And we're well 513 00:32:04,280 --> 00:32:08,479 Speaker 1: on our way at this point. So UM, time for 514 00:32:08,480 --> 00:32:14,480 Speaker 1: for one last question, UM, in terms of you know, 515 00:32:14,560 --> 00:32:19,080 Speaker 1: you came into this company working on Pluto and Pluto alone, 516 00:32:19,200 --> 00:32:23,680 Speaker 1: and you've really sort of expanded your responsibilities. What has 517 00:32:23,760 --> 00:32:27,000 Speaker 1: that been like? I mean, I would imagine operationally, maybe 518 00:32:27,000 --> 00:32:29,640 Speaker 1: it's even night and day going back to your startup days. 519 00:32:29,640 --> 00:32:32,960 Speaker 1: How have you sort of risen to that challenge? Yeah, 520 00:32:33,040 --> 00:32:37,360 Speaker 1: I mean listen, I I am flexing muscle muscles. I've 521 00:32:37,400 --> 00:32:42,520 Speaker 1: never flexed before. I have always been a startup guy 522 00:32:42,680 --> 00:32:46,600 Speaker 1: working in small, scrappy companies, and so uh, you know, 523 00:32:46,760 --> 00:32:50,080 Speaker 1: I have patient colleagues who are helping me, you know, 524 00:32:50,280 --> 00:32:55,720 Speaker 1: learn to navigate a much bigger organization. But you know, fundamentally, UM, 525 00:32:55,760 --> 00:33:00,000 Speaker 1: what gets me excited is building UM and I also 526 00:33:00,080 --> 00:33:04,479 Speaker 1: love good underdog opportunities. When we launched Pluto TV, you know, 527 00:33:04,720 --> 00:33:06,800 Speaker 1: it's uh, you know, we want we launched something that 528 00:33:06,880 --> 00:33:10,040 Speaker 1: seemed crazy at the time to most people, which is, 529 00:33:10,120 --> 00:33:12,920 Speaker 1: you know, a service that was free, uh you know 530 00:33:13,080 --> 00:33:15,280 Speaker 1: and add supported at a time when everyone thought it 531 00:33:15,280 --> 00:33:18,400 Speaker 1: was gonna the world was going to subscriptions and ads 532 00:33:18,440 --> 00:33:22,040 Speaker 1: were not going to be watched anymore. UM. And just 533 00:33:22,080 --> 00:33:25,640 Speaker 1: as crazy, it was you know, linear or linear lead 534 00:33:26,240 --> 00:33:28,120 Speaker 1: UM at a time when the whole world thought everything 535 00:33:28,160 --> 00:33:30,680 Speaker 1: was going on demand. UM, but we thought that there 536 00:33:30,760 --> 00:33:33,360 Speaker 1: was some white space to be carved in, an opportunity 537 00:33:33,400 --> 00:33:37,160 Speaker 1: to create a big business UM. And fast forward seven 538 00:33:37,240 --> 00:33:39,400 Speaker 1: years and we've we've we've done that, and I think 539 00:33:39,440 --> 00:33:42,400 Speaker 1: with paramount Plus, with all the resources that by com 540 00:33:42,480 --> 00:33:46,920 Speaker 1: CBS brings to bear UM and our unified strategy across 541 00:33:46,960 --> 00:33:50,280 Speaker 1: free and pay um to help us further accelerate our 542 00:33:50,320 --> 00:33:53,640 Speaker 1: paid ambitions with Paramount plus. You know again, we you know, 543 00:33:53,680 --> 00:33:57,160 Speaker 1: we we we you know, maybe considered an underdog here 544 00:33:57,200 --> 00:33:59,280 Speaker 1: and again I like that challenge, but I think we've 545 00:33:59,320 --> 00:34:01,560 Speaker 1: got a huge comtunity to build one of the biggest 546 00:34:02,400 --> 00:34:05,120 Speaker 1: paid streaming services as well, and then an aggregate across 547 00:34:05,160 --> 00:34:07,239 Speaker 1: free and pay. I think I think we can be 548 00:34:07,280 --> 00:34:10,680 Speaker 1: one of the biggest streaming companies in the world together. 549 00:34:10,840 --> 00:34:14,880 Speaker 1: So for me, it's an exciting challenge to build in 550 00:34:14,920 --> 00:34:20,640 Speaker 1: a different setting. UM and uh, we're just getting started. Well, 551 00:34:20,680 --> 00:34:25,200 Speaker 1: congratulations on a good quarter, wishing you luck for two 552 00:34:25,360 --> 00:34:34,400 Speaker 1: and beyond. Thanks for taking some time out. Thank you Andy. 553 00:34:35,320 --> 00:34:38,319 Speaker 1: This has been another episode of Strictly Business. Tune in 554 00:34:38,400 --> 00:34:41,880 Speaker 1: next week for another helping of scintillating conversation with media 555 00:34:41,960 --> 00:34:44,480 Speaker 1: movers and shakers, and please make sure you subscribe to 556 00:34:44,560 --> 00:34:47,920 Speaker 1: the podcast to hear future episodes. Also leave a review 557 00:34:47,960 --> 00:34:50,719 Speaker 1: in Apple Podcasts Let us know how we're doing.