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Paramount Plans To Double Down On TV Assets
Plug her back in // Image by Kait Cunniff with DALL-E
New Paramount CEO David Ellison is looking for ways to revitalize the company’s suite of cable TV brands, including MTV, Nickelodeon, Comedy Central, and BET.
The Big Picture: Enough has been written about how the streaming revolution left cable TV in the dust, with most customers cutting the cord in favor of on-demand programming. While major entertainment conglomerates spin off their declining TV assets into debt-laden life rafts (Versant, Discovery), Paramount is bucking the trend by exploring something potentially more radical.
Behind The Scenes: Can traditional TV be saved? David Ellison is on a mission to find out.
Let’s take MTV for example:
According to The WSJ, Ellison met with several former MTV execs this spring, challenging them to find ways for the network to regain cultural relevance.
Ideas have ranged from pivoting to live events, to turning the brand’s site into a music streamer for deep fandoms, to positioning it as an archival hub for music from the ‘80s and ‘90s.
Ellison says he’s also received outside interest in partnering with MTV if a revival is really in the cards — including calls from legendary music manager Irving Azoff and UMG CEO Lucian Grainge.
Whatever Paramount decides, it will have to win over younger audiences — the median age of an MTV viewer is 56.
The Future: Figuring out how to best leverage its TV assets is crucial for Paramount — those brands still generate significant revenue, even as they decline. As Paramount reinvents itself, maximizing their value provides a lifeline to fund bigger swings in its studio, streaming, and gaming divisions.
Next Season: To recapture relevance, Paramount may need to reimagine these TV brands as niche incubators for talent with Gen Z and millennial fans — talent that can then “graduate” to the company’s larger divisions.
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Today’s email was written by David Vendrell.
Edited, Polled, and Copy-edited by Kait Cunniff.
Published by Darline Salazar.