![]() Our streaming business is growing fast-and going global. ![]() This is an exciting moment in the history of our company. In that time, we have shown the world what we knew from the start: that together, aligned around a shared vision and shared strategy, we create a whole that is far greater than the sum of its parts. It has been one year since the spectacular launch of Paramount+ and two years since the successful merger of Viacom and CBS. We could not be prouder of this incredible company. Here’s the full memo on from Redstone and Bakish: As we talk about Paramount, the consumer benefit accrues back to Paramount Plus and Paramount Pictures.” “The other economic rationale is that any dollar spent on ViacomCBS branding has no consumer benefit. “ViacomCBS screams that we’re two companies, and we’re not, we’re one company,” Bakish said. Speaking to Variety after the investor event, Bakish said the name change was in part an effort to set a new tone for the company. Redstone, daughter of the late Viacom and CBS mogul Sumner Redstone, said her focus for the family media empire was to drive a “virtuous cycle” in which “our legacy business powers our transformation and the transformation expands and enhances our legacy businesses.” Throughout the presentation, executives voiced bullish projections for new streaming services and content production operations that amount to a reinvention of ViacomCBS.Ĭlick here to subscribe to Variety‘s free Strictly Business newsletter featuring media earnings coverage, financial and investment news and more. That compares to guidance last year from ViacomCBS that it was aiming for 65 million to 75 million by 2024. The pair also disclosed that Paramount has upgrade its financial guidance for Wall Street, projecting that the company will reach 100 million streaming households worldwide by 2024. The name change was the first news announced Tuesday during the presentation, after Redstone and Bakish made a theaterical entrance in a sports car to a soundstage at New York’s Kaufman Astoria Studios, which Redstone noted was the original New York home of Paramount Pictures. All of which adds up to Paramount being the pre-eminent home to, and producers of, the world’s greatest content,” Redstone and Bakish wrote. And it will capture the collective power of our global assets, from our amazing brands-CBS, Showtime, MTV, Comedy Central, BET, Nickelodeon, Smithsonian, Paramount Pictures, Paramount+, Pluto TV and more- to our global reach and our diverse audiences. It will help advance our strategy of harnessing all our strength and breadth in building the businesses of tomorrow. Learn more about these events here.“As Paramount, our name will reflect who we are, what we aspire to be, and all that we stand for. Meanwhile, upcoming PCP Sydney guests include Sang Ho Park of Square Mile Coffee in London, Sprudgie Award winner Rachel Peterson of the internationally renowned Hacienda Esmeralda in Panama, and representatives of Guatemala’s Anacafe. PCP Los Angeles is due to open in early summer 2015. Being closer to Latin American producers and US roasters, as well as improved freight charges should allow us to be quite diverse in our coffee approach.” Dundon elaborated, “especially in the hospitality scene. “Los Angeles has such a great energy about it,” Mr. “With building a project in a new country and new city, the process of design needed to be taken back to square one,” Mark Dundon told Sprudge. To further the cultural bridge this project represents, PCP LA is being designed by Sydney-based architect Alana Cooke, with graphic design by We Buy Your Kids, also of Sydney. Perhaps best of all, Brand, Dundon and company will be bringing elements of PCP’s high-flying food program with them to Los Angeles, offering a true Australian-style integrated cafe experience to the city of Los Angeles. Los Angeles coffee drinkers (and global visitors) can expect “residencies, takeovers, events” and more from PCP LA, including an innovative series that invites multiple roasters to put their spin on a single lot of green coffee.Ĭoffee offerings will vary throughout the cafe’s life, but expect regular access to top coffees from roasters across the planet, including Beard and Dundon’s own Reuben Hills, Seven Seeds brands from Australia, and top European PCP favorites like Coffee Collective and Tim Wendelboe. PCP LA will be located at 456 North Fairfax, in the former space of 3 Amigos Produce, less than a block from the iconic Canter’s Deli. Speaking with Sprudge via email, co-founder Russell Beard confirmed that PCP LA will be a permanent space, with the team having “signed a long lease” on their Fairfax location.
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