Paramount+ to Launch in Italy on Sept. 15

Paramount Global Aug. 10 announced that its branded subscription streaming service, Paramount+, is scheduled arrive in Italy on Sept. 15, priced at 7.99€ per month. An annual subscription will be offered for €79.90.

Due to the partnership with Comcast-owned Sky, Sky Cinema subscribers in Italy will be able to access Paramount + for free.

Paramount+ original titles coming to Italy (with Italian captions) include “Tulsa King,” starring Sylvester Stallone as a New York mafia capo unceremoniously exiled by his boss to set up shop in Tulsa; The Offer,” a limited series with Miles Teller, Matthew Goode and Juno Temple based on Oscar-winning producer Albert S. Ruddy’s never-before-seen experiences of making The Godfather; “1883,” Taylor Sheridan’s highly anticipated “Yellowstone” prequel; and upcoming series “1923,” also from Sheridan, featuring Helen Mirren and Harrison Ford in the next installment of the “Yellowstone” origin story; and “HALO,” based on the Xbox franchise.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

“This launch, followed by Germany, Austria, Switzerland and France in the coming months, will bring Paramount+ to all major European markets by the end of the year,” Marco Nobili, EVP and International GM of Paramount+, said in a statement.

Paramount+ will offer locally sourced programs that will also debut in other countries where the streamer is present. The selection of available Italian titles will include CIRCEO, the series produced by Cattleya in collaboration with VIS, Paramount+ and RAI Fiction, which retraces the process following the terrible case of 1975; 14 DAYS, a Paramount+ original Italian production, written and directed by Ivan Cotroneo, which tells the story of a couple forced into two weeks of seclusion; the CORPO LIBERO series, a co-production by Indigo Film and Network Movie, in co-production with ZDFneo, in collaboration with Rai Fiction and Paramount+, in association with All3Media International Limited: the thriller based on the novel by Ilaria Bernardini and written with Chiara Barzini, Ludovica Rampoldi and Giordana Mari; and the previously announced productions TI MANGIO IL CUORE and MISS FALLACI.

In addition to new releases such us “Scream 5,” Paramount+ will allow users to rewatch classics and familiar titles that will be available exclusively on the platform after their success in the cinemas. These include Grease, The Godfather, the Star Trek movie franchise, and Transformers, among others.

Paramount+ will also be available online in Italy at, on mobile devices and a wide range of connected TV devices via distribution through Apple, Amazon, Google, Samsung, and more.

Paramount Global Q2 Streaming Sub Count Reduced to 64M After 3.9M Russian Sub Loss

Paramount Global’s strategic shift into direct-to-consumer distribution of movies and television shows continues to resonate with consumers.

The media giant Aug. 4 reported it ended the second quarter (ended June 30) with nearly 64 million streaming video subscribers across its Paramount+, Showtime Anytime, BET+ and Noggin platforms. That was after the removal of 3.9 million Russian subscribers when Paramount halted business operations in the country following its government’s unprovoked invasion of the Ukraine. Paramount ended Q1 with more than 62 million SVOD subs worldwide.

Specifically, Paramount+ added 4.9 million subs in Q2 to end the quarter with more than 43 million subs, which included the removal of 1.2 million Russia subscribers.

Paramount+ saw strong acquisition and engagement from a variety of
content led by “Halo,” “Yellowstone” prequel, “1883,” movies The Lost City, Sonic the Hedgehog 2, Jackass Forever, Star Trek: Strange New Worlds, and the UEFA Champions League soccer tournament.

Paramount said its branded SVOD service (formerly CBS All Access) captured the most sign-ups, gross and net subscriber additions of any premium domestic streaming service in the quarter, citing Antenna’s June 2022 Report. Subscriber growth was partially driven by international market launches, including the U.K., Ireland and South Korea.

Separately, Paramount’s ad-supported VOD service Pluto TV saw its global monthly active users (MAUs) approach nearly 70 million, which the media company said is tops among all AVOD platforms in the U.S., including rival Fox Entertainment’s Tubi platform. The AVOD platform added 2.1 million MAUs in the quarter.

Pluto TV grew total global viewing hours by double digits year-over-year for the second consecutive quarter. The platform expanded its international presence, launching in the Nordics in partnership with Viaplay Group and announced partnership with Corus in Canada, which will launch later this year.

Direct-to-consumer revenue increased 56% year-over-year to $1.2 billion from $767 million in the previous-year period. Subscription revenue grew 74% year-over-year to $830 million from $476 million, principally
reflecting paid subscriber growth at Paramount+.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

The segment’s advertising revenue rose 25% year-over-year to $363 million from $291 million, reflecting growth from Paramount+ and Pluto TV, driven by increased impressions on both services. Paramount+ revenue alone grew 120%.

Paramount still believes the DTC business unit is on track to generate 100 million subscribers and $9 billion in revenue by 2024, with operating losses increasing in 2023 before moving toward profitability.

At the same time, growth across the DTC business unit impacted the bottom line. Adjusted pre-tax earnings in the quarter decreased $302 million to an expanded loss of $445 million compared to a pre-tax loss of $143 million last year.

“In Q2, we grew total company revenue by 19% and took market share in streaming, in broadcast TV, in box office and in upfront dollars, all while increasing our penetration of the most important growth market in media—streaming,” Paramount Global CEO Bob Bakish said in a statement.

Paramount Global Ups Pamela Kaufman to CEO of International Markets, Global Consumer Products & Experiences

Paramount Global has promoted Pamela Kaufman to CEO of International Markets, Global Consumer Products & Experiences, effective immediately. Kaufman, who has been president of Global Consumer Products and Experiences for the media giant, replaces Raffaele Annecchino, who, earlier this year left his position for undisclosed reasons as CEO of Paramount International Networks, Studios and Streaming.

This newly created position reports to Bob Bakish, CEO of Paramount Global, and reflects Paramount’s ongoing strategy of globalizing its operations.

Pamela Kaufman

In her expanded role, Kaufman will be responsible for driving the continued growth of Paramount’s international business and ensuring the strength of the company’s international operations across six continents, including broadcast and cable networks, streaming and studios, and the company’s commercial capabilities. She will work closely with Paramount’s international leadership team, as well as the global content and streaming organization to do so, including helping to guide the continued international rollout of Paramount+ and Pluto TV. Kaufman will maintain her current responsibilities overseeing the global multi-billion-dollar consumer products and experiences organization.

“Pam has been the strategic force behind growing and expanding some of the most iconic global franchises and properties in entertainment,” Bakish said in a statement. “She is a proven and trusted, visionary leader who has transformed our consumer products organization by driving innovation and operating as a global business. Pam is uniquely qualified to lead our international business as we expand and diversify our worldwide footprint and accelerate Paramount’s transformation to operating with a truly global approach.”

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Bakish extended his appreciation to Annecchino for the “critical role” he played in building Paramount’s international business and expanding its global footprint.

“I am grateful for the dedication he has shown throughout his 25 years at Paramount and wish him well in the future,” Bakish said.

In November 2021, Kaufman assumed the role of president of Global Consumer Products and Experiences for Paramount, overseeing worldwide product and business development, marketing, franchise planning, creative strategy, retail sales and consumer insights for all brands in the portfolio.

In less than a year, Kaufman led the transformation of the consumer products business, unifying the organization by placing the full power of the Paramount ecosystem behind its most valuable IP. Her commitment to transformation, innovation and brand building has led to some of the most groundbreaking partnerships in the company’s history, including cutting-edge co-branded collaborations with the biggest names in social media. Kaufman was also responsible for Viacom’s first direct-to-consumer e-commerce site in 2019 – The SpongeBob Shop – and has since led the expansion to additional online direct-to-consumer business for merchandise tied to various top CBS and Showtime programming, including similar standalone initiatives for brands such as Star Trek, South Park and MTV.

Previously, Kaufman served as president of Consumer Products & Chief Marketing Officer for Nickelodeon where she was responsible for building some of Nickelodeon’s most memorable franchises ranging from PAW Patrol to SpongeBob SquarePants, shepherding them through important tentpole campaigns and milestone celebrations.

Before joining Nickelodeon in 1997, Kaufman held positions at Turner International, Equity Marketing and Grey Advertising. She earned her Bachelor of Arts in Public Communication from The American University in Washington D.C. and was awarded an Honorary Doctor of Humane Letters from The American University in 2019. A committed advocate for gender equality and diversity and inclusion, Kaufman serves on the board of the Rock and Roll Hall of Fame Foundation, as well as Bottomless Closet, a nonprofit that prepares women for workplace success, and the Pace Women’s Justice Center.

About Paramount

Analyst Downgrades Paramount Global on Streaming Costs and Advertising Concerns

Paramount Pictures may be on a roll at the box office thanks to movies such as Top Gun: Maverick and Sonic the Hedgehog 2, and the ongoing rollout of the Paramount+ streaming platform. But global expansion and content production sent costs sky high, and that concerns Wall Street analyst Michael Nathanson.

Banking on the fact that media stocks are “signaling cloudy skies ahead,” Nathanson contends that ongoing inflationary concerns continue to significantly reduce TV and digital advertising revenue forecasts. As a result, the firm is downgrading Paramount Global shares to “underperform” and cutting the the media company’s share price target to $18 from $30.

Michael Nathanson

“As we have consistently said, we have difficulty looking at [direct-to-consumer] revenue and investments in a silo even with execution of its broader playbook and the continued momentum at Paramount+ from its breadth of content (sports, kids, general entertainment and news),” Nathanson wrote in a note to clients.

The analyst said he believes that the growing risk of advertising decelerating further puts additional pressure on Paramount’s ability to grow pre-tax earnings and free cash flow to match prior levels or see any evidence of this improvement for the foreseeable future.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Nathanson is maintaining a “market perform” rating for his remaining media/entertainment coverage, which includes Disney, AMC Networks, Netflix, Cinemark and Warner Bros. Discovery. He has an “outperform” ranking for Fox Entertainment.

“We are not fully factoring in this recession scenario into our company models, as we believe it is too early for us to call the timing and severity of a recession,” Nathanson wrote. “Nevertheless, the early signs of slowing advertising demand from the digital companies as well as traditional media suggests we are a lot closer to a more material slowdown.”

Paramount Global Garners 86 Primetime Emmy Award Nominations

Paramount Global earned 86 Academy of Television Arts & Sciences 74th Primetime Emmy Award nominations across its combined portfolio. This marks the most nominations for the company since the merger of Viacom and CBS in 2019.

CBS Television Network received 28 nominations. The network landed multiple nominations for special programming, including “Adele: One Night Only” and “One Last Time: An Evening With Tony Bennett & Lady Gaga.” Home to some of the biggest award shows in the industry, “The 64th Annual Grammy Awards” and “The Tony Awards Present: Broadway’s Back!” earned several nominations in addition to the “43rd Annual Kennedy Center Honors” and the “44th Annual Kennedy Center Honors.”

“The Late Show With Stephen Colbert” received five nominations.

CBS Studios picked up several additional nods this year, among them an Outstanding Competition Program nomination for “The Amazing Race.” Short-form series “Carpool Karaoke: The Series” was also nominated.

MTV Entertainment earned 18 nominations across its portfolio of brands and franchises.”MTV Video Music Awards” scored its first nomination since 1993. MTV Entertainment Studios picked up additional nominations with “Emily in Paris,” which streams on Netflix as the platform’s original content.

Comedy Central’s “The Daily Show With Trevor Noah” received seven noms — the most since Trevor Noah took over as host in 2015 and the most nominations of any late night franchise this year.

VH1’s “RuPaul’s Drag Race” earned several noms this year, including Outstanding Competition Program and Outstanding Host for a Reality or Competition Program, and a first-time nomination for its digital series “RuPaul’s Drag Race Whatcha Packin’ With Michelle Visage.”

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Showtime landed 17 Primetime Emmy Award nominations this season. “Yellowjackets” earned seven noms, among them an Outstanding Drama Series nom as well as nominations for Outstanding Lead Actress for Melanie Lynskey and Outstanding Supporting Actress for Christina Ricci. The series also landed two noms for Outstanding Writing for a Drama Series and one for Outstanding Directing for a Drama Series.

“We Need to Talk About Cosby” picked up four nominations, including Outstanding Documentary or Nonfiction Series.

The anthology drama series “The First Lady” received three nominations.

Ray Donovan: The Movie and “Vice” each received a nomination as well as “The Man Who Fell To Earth,” which was produced by CBS Studios.

Paramount+ scored 11 Primetime Emmy Award nominations.

Together with MTV Entertainment Studios, Paramount+ picked up three nominations for “1883,” including Outstanding Cinematography for a Limited or Anthology Series or Movie. Original reality series “RuPaul’s Drag Race All Stars” earned Paramount+ its first-ever unscripted nomination for the service. “Reno 911! — The Hunt for QAnon” was also nominated for Outstanding Television Movie.

“Star Trek: Picard” landed four noms and “Star Trek: Strange New Worlds” received its first ever Emmy nomination in partnership with CBS Studios. “Stephen Colbert Presents Tooning Out the News” was nominated for Outstanding Short Form Comedy, Drama or Variety Series.

Additionally, BET+ earned its first-ever nominations for both “The Ms. Pat Show” and “The Porter.” Paramount Television Studios received seven Emmy nods for “Station Eleven.”

Analysts Eye Paramount Q2 Profit Rise, Streaming Sub Growth Decline

With studio quarterly financial results just a few weeks away, Paramount Global, parent to Paramount Pictures and the Paramount+ streaming platform, is sitting pretty at the fiscal bottom line, according to several Wall Street analysts.

With its legacy studio leading Hollywood in revenue through the midyear, due in large part to the outsized performance of box office hit Top Gun: Maverick, which has generated $570.7 million in North American ticket sales and $1.11 billion worldwide, Paramount’ filmed entertainment segment is eyeing a second-quarter (ended June 30) pre-tax income around $903 million, according to Guggenheim analyst Michael Morris. That’s up from a previous projection of $863 million.

The estimate, if it holds out, marks an amazing turnaround for Paramount, which realized a $37 million operating loss in filmed entertainment in the first quarter, ended March 31. The studio generated just $1 million in quarterly revenue during the pandemic when most theaters were shuttered.

Bank of America analyst Jessica Reif Ehrlich upped her pre-tax income estimate to $899 million, contending studio results will help offset softer advertising revenue.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Meanwhile, Wall Street seems prepared to handle projected direct-to-consumer subscription streaming declines at Paramount and industrywide. Paramount CEO Bob Bakish previously announced he expects the company to see a 3 million sub decline in Q2 due to the ongoing conflict in the Ukraine, and its impact on Eastern Europe.

Guggenheim’s Morris believes Paramount will see 1.2 million net global subscriber additions (including Showtime OTT and Noggin) of 1.2 million, down from a previous estimated growth of 3.2 million subs. Paramount+ could see a slight reduction in the previous estimate of 4.5 million net sub additions to 4.1 million — due in large part to the delayed bundling with Showtime OTT.

Regardless, Morris contends Paramount’s second-quarter advertising revenue will be negatively impacted by the “incremental softness in the marketplace” going forward. Reif Ehrlich believes Paramount will generate 25% of its ad revenue in the second quarter, while industry scuttlebutt about a possible company sale remains just that.

“It does not appear to us a sale is imminent given [Paramount’s] near-term streaming aspirations,” Reif Ehrlich wrote in a note.

Paramount Global reports Q2 fiscal results on Aug. 4.

Paramount Global, Viaplay Ink European Content Licensing Deal

Paramount Global Content Distribution and Viaplay (formerly NENT Group) have agreed to a content licensing deal spanning the Nordic and Baltic regions, Poland and the Netherlands. Viaplay subscribers in multiple markets will be able to access CBS television shows and library titles from The CW, Paramount Television Studios and Showtime.

Under the deal, titles available include shows such as “CSI: Vegas”; medical drama “Good Sam,” starring Sophia Bush and Jason Isaacs; animated comedy “HouseBroken,” with voice talents including Lisa Kudrow; and “4400,” the reimagining of the Emmy-nominated sci-fi series “The 4400.”

“We look forward to bringing a wide selection of CBS Programming and world-class library to Viaplay’s audiences,” Lisa Kramer, president of international television licensing at Paramount Global Content Distribution, said in a statement.

In the Nordic region, the agreement includes library seasons of “Elementary,” “The Good Wife,””Cheers,” “Madam Secretary,” “CSI: NY,” “90210,””King of Queens,” “Catch-22” and “Looking for Alaska.”

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Current and library titles coming to Viaplay in Poland include “Billions,” “Blood & Treasure,” “FBI: Most Wanted,” “The Good Fight,” “Hawaii Five-0,”  “A Million Little Things,” “SEAL Team,” “Survivor” and “Walker,” a reimagining of the long-running series “Walker, Texas Ranger.”

In the Netherlands, the shows available on Viaplay include “Walker,” “The Good Fight,” “Bull,” “Frasier,” “The Good Wife,” “King of Queens,” “Californication,” “Elementary,” “Madam Secretary,” and “Deadwood.”

“Paramount is one of Hollywood’s most renowned storytellers, and Viaplay viewers in 10 countries can now enjoy many of the biggest and best shows from their incredible line-up with us,” added Filippa Wallestam, Viaplay group chief content officer.

Alongside Paramount Global Content Distribution, Viaplay has long-term contractual relationships with U.S. studios, including Sony Pictures, MGM, and NBCUniversal, among others.

Paramount+ Eyeing 150 Original Foreign Programs by 2025

Ahead of Paramount Global’s June 22 rollout of the Paramount+ streaming service in the U.K. and Ireland, the erstwhile ViacomCBS media giant said it plans to have 150 original international programs running by 2025

The originals will be produced together with Viacom International Studios across more than 20 countries. Foreign international programming already announced includes “Sexy Beast” (U.K.), “A Gentleman in Moscow” (U.K.), “The Chemistry of Death” (Germany), “Los Enviados” (The Envoys) (Mexico), “Cecilia” (Mexico), “Bosé” (Spain), “Fallaci” (Italy), “At Midnight” (Mexico), “The Signal” (France) and “Impact” (France), among others.

“As [Paramount+] continues to expand internationally, there’s a great opportunity for content to travel globally, opening up a world of opportunities for talent and creators … while delivering incredible value to subscribers,” Marco Nobili, EVP and international GM of Paramount+, said in a statement.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Other foreign original programming includes:

“Murder of God’s Banker” is a four-part docuseries recounting the murder of Italian fugitive banker Roberto Calvi, whose body is found hanging off a London bridge. Although his death was initially declared a suicide, it is later uncovered that many wanted Calvi dead. He had presided over the collapse of a major Italian bank whose largest shareholder was none other than the Vatican. This revelation blows the lid off the secretive world of the Vatican’s financial system — a world populated by priests, mobsters and neo-fascists. What looks like the simple story of a dead banker becomes one of international intrigue. Produced by CreativeChaos vmg in association with VIS, to debut on Paramount+ in all international markets.

France’s “MASK: Marie Antoinette Serial Killer” is an eight-hour young adult fantasy horror thriller created and developed by Executive Producers Beth Tapper and Mitch Watson. Leila Smith (Lockout, Hitman, Find Me in Paris) also acts as Executive Producer for the series. Based upon the novel Marie Antoinette Serial Killer by author Katie Alender, the series follows four young American girls on spring break in Paris. While exploring the edgy side of the city, they find themselves caught up in a mysterious, almost supernatural murder spree that soon becomes very personal. Could the murderer be the ghost of the late queen Marie Antoinette? And why is it chasing them? Currently in advanced development, the series is produced by leading prodco Cottonwood Media (David Michel, Cécile Lauritano & Zoé Carrera Allaix) and VIS. It will debut exclusively on Paramount+ in France and all international markets.

“A Thin Line” (Germany): Young “hacktivist” twin sisters Anna (Saskia Rosendahl) and Benni (Hanna Hilsdorf) are inseparable in their quest to expose environmental wrongdoing by any means necessary. But when their hack into a government server leads to a police raid, Anna is captured and Benni disappears into the underground. When it becomes apparent Benni is lending her skills to a radical new terrorist group that does not shy away from violent action against state and corporations, the sisters suddenly find themselves on opposite sides of the question: What line are you willing to cross for something you believe in? Produced by Weydemann Bros Serial Drama in association with VIS, to debut exclusively on Paramount+ in all international markets.

“The Sheikh” (Der Scheich) (Germany): Inspired by true events, “The Sheikh” tells the story of a one-of-a-kind con artist. Ringo (Björn Meyer), a simple man ridiculed as the village idiot in his hometown, reinvents himself as the heir of an Arabic fortune. With nothing but a bunch of tall tales and a fabricated bank statement for $8 billion, he becomes every Swiss investor’s dream, bringing Switzerland’s political and economic system to the brink of a national crisis. Created and written by multi-award-winning filmmaker Dani Levy (Alles auf Zucker!, Die Känguru-Chroniken), who directs together with Johannes Naber (Curveball, Zeit der Kannibalen), and stars Petra Schmidt-Schaller, Sylvester Groth, Carol Schuler, Philippe Graber and Pasquale Aleardi in additional roles. The tragicomic series is produced by X Filme Creative Pool and VIS, to debut exclusively on Paramount+ in all international markets.

“CIRCEO” (Italy) tells the story of the aftermath of the crime that came to be known as “The Circeo Massacre,” which upset Italy in the 1970s, after two teenage girls were found in the trunk of a car in Rome, naked, wrapped in blankets and drenched in blood. One was dead, the other one alive. Focusing on the trial that followed and centering on the lone surviving victim, Donatella, the series reflects on a watershed moment in the path of the emancipation of Italian women, demanding (and eventually obtaining) the wholesale revision of laws on sexual violence. CIRCEO is written by Flaminia Gressi, Viola Rispoli and Lisa Nur Sultan and directed by Andrea Molaioli. Produced by Cattleya in partnership with VIS for Paramount+ and Rai in Italy, the series will also debut on Paramount+ in France and GSA.

“Sinaloa’s First Lady” (Mexico): Starring and produced by John Leguizamo with Frida Torresblanco also producing, this narrative series will chronicle the fascinating yet volatile life of El Chapo’s infamous Beauty Queen Bride, Emma Coronel — an innocent farm girl turned fierce icon who rises to become Mexico’s most formidable crime wife. A story of love, sex, drugs, and danger. Produced by VIS in association with Braven Films, the series has been greenlit for development to debut exclusively on Paramount+ in Latin America and all international markets.

One Must Die (Mexico): A suspense thriller movie that centers on seven people who are kidnapped and suddenly find themselves part of a deadly game. As the clock ticks, to survive the seven participants must choose one to die and the chosen one will have to agree. Starring the talented Manolo Cardona, Maribel Verdú, Carla Adell, Juan Carlos Remolina, Adriana Paz, Dagoberto Gama, Fernando Becerril, and director Manolo Cardona. Produced by VIS in association with 11:11 FILMS to debut exclusively in all international markets.


Paramount Executive in Charge of European Streaming Rollout Put ‘On Leave’

Raffaele Annecchino, president of Paramount international studios, networks and streaming, has reportedly been put “on leave” from the company. Annecchino, who has been with Paramount Global since joining MTV Networks International in 1997, was in charge of ongoing efforts Paramount+ and ad-supported Pluto TV in Europe.

Raffaele Annecchino

“Effective today, president, Paramount international studios, networks and streaming, is on leave from the company,” Paramount said in a statement without elaborating.

Filling the void include Juan “JC” Acosta, president of international studios, streaming and networks for Southern Europe, Latin America, Middle East and Africa; Mark Specht, EVP and managing director for Central and Northern Europe and Asia; and Maria Kyriacou, president of Australia, Canada, Israel and the U.K.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Annecchino was named CEO of ViacomCBS Networks International in December 2020, overseeing VCNI’s mobile strategy globally. He helped launch several digital businesses throughout the EMEA region, ad-supported, subscription-based VOD and ViacomCBS Digital Studios International.

CEO: All Five 2022 Paramount Theatrical Releases Topped Weekend Box Office, Heading to Paramount+

Paramount Pictures is on a roll. The studio has dominated the 2022 theatrical season, with all five of its big screen releases topping the weekend box office in their debuts.

Led by Top Gun: Maverick, which opened with $126.7 million in revenue across North America, Paramount saw Scream, Jackass Forever, The Lost City and Sonic the Hedgehog 2 all finish No. 1 at theaters. The last four titles all began streaming on Paramount+ 45 days after their theatrical debut — a strategy Paramount Global CEO Bob Bakish says helps lure moviegoers to the cineplex while also driving SVOD subscriptions.

“Franchise, franchise, we really love them” Bakish said June 14 at the virtual Credit Suisse 24th Annual Communications Conference. “Our position as a diversified business fundamentally improves the economics of streaming.”

Bakish said the growth in box office and streaming has been accomplished by a strong content portfolio, with spending across the company reaching $15 billion. He said some content investments is performing “double duty” across multiple platforms.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

Paramount Pictures created the Netflix original movie Senior Year, which topped the streamer’s weekly English-language chart in its debut. The Lost City is currently the top-streaming movie on Paramount+, while the crime TV series “NCIS” and “FBI,” among others, are also popular on the SVOD platform, according to Bakish.

“That drives advanced return-on-investment (ROI) for us,” said the executive. “We see tremendous benefits from that. We’re excited about our streaming business and as an extraordinary valuation creation opportunity for Paramount.”

Upcoming movie releases include Jerry & Marge Go Large and Secret Headquarters on Paramount+ on June 17 and Aug. 5, respectively. Babylon hits the big screen on Dec. 25.