David Ellison has officially introduced his vision for the new Paramount, focusing on innovative strategies and a commitment to quality content.
David Ellison Unveils Vision for New Paramount
David Ellison formally introduced himself to the industry and Wall Street as chairman and CEO of the new Paramount in a letter posted as the deal closed, outlining the focus areas and plans of the new team.
Company Structure
The company will operate with three divisions: Studios, Direct-to-Consumer, and TV Media.
Embracing Technology
Ellison emphasized a thoughtful integration of AI across businesses, enhancing streaming services, investing in premium, exclusive content, and focusing on sports while appropriately investing in media networks based on future business opportunities.
Press Conference Announcement
Ellison and his executive team will host their first press conference today at Paramount Global’s Times Square headquarters to provide further details.
Merger Completion
The merger of Skydance Media with Paramount Global officially closed this morning after more than a year, with shares starting to trade today under the ticker PSKY.
Technology as a Multiplier
“Technology is not—and never will be—a replacement for human creativity; rather, it serves as a powerful multiplier,” Ellison wrote. He highlighted the use of virtual production stages, AI-assisted localization, and a proprietary ad-tech stack to maximize yield across streaming and linear platforms.
TV Media Strategy
On the TV Media side, he stated, “Our challenge is to reinvent our portfolio of brands for a non-linear world. We plan to invest appropriately based on future business opportunities, maximizing cash flow to reinvest in growth businesses.”
See More ...
Streaming Services Evolution
“No area will be more pivotal to our future than the evolution of our streaming services, which we will scale into powerful, profitable global platforms. We are committed to increasing investment in premium, exclusive content because exceptional storytelling is the biggest driver of subscriber growth and loyalty,” he added.
Unified Technology Stack
Starting next year, Paramount+ and Pluto TV will operate on a unified technology stack, improving performance and driving significant financial savings. “This integration will elevate the consumer experience across our services,” Ellison noted.
Financial Strategy
For investors, he mentioned, “Our financial north star is to maximize the long-term value of the company. We will invest appropriately in our businesses given the size of their future opportunities.”
Commitment to Culture
“We understand the weight of stewarding an iconic company that touches the lives of millions worldwide and plays a vital role in shaping our shared culture. Above all, everything we do will be rooted in trust and aligned with our core values,” he wrote.
Facing Challenges
“Inevitably, challenging decisions and difficult trade-offs lie ahead. We will face them head-on, maintaining transparency by sharing the rationale behind our choices,” he concluded.
