Skydance Media CEO David Ellison may not have the keys to the Paramount Global castle yet, but he and the company’s soon-to-be president Jeff Shell have begun meeting with each division to develop a game plan. Matt Belloni and Lucas Shaw talk through the new beginnings which are headed for the studio sooner rather than later.
The shape of Paramount to come? The transition from Paramount’s current leadership to David Ellison and Skydance is on track for the first or second quarter of 2025. As the studio continues operations as usual with the rollout of Smile 2, behind the scenes current CEOs have been given increased payout deals ahead of the merger. And the extensive layoffs are far from over. Though no moves can be made until the deal is closed, streaming strategy, investing in tech platforms, and joint ventures all seem to be on the table. But as Lucas Shaw says: “Have they made moves? Or have there just been a lot of scandals that have raised questions about potential moves?”
What are the minuses of Paramount+? The studio, like others, has invested in streaming due to network revenue decline. Paramount+ under Ellison will be tasked with strategy shifts to make exclusive deals and a profitable business. Paramount+, much like comparable streamers Peacock and Max, is not succeeding at the rate of Netflix. Something's got to give. “They have a deep library, but they're one of these three that a reader of mine called the desperation bundle,” says Shaw. They need to work together, but nobody wants to give up control.”
Good sports? Sports talk has been a success for ABC and NBC. Both networks have given more prime time to their respective sports content and Paramount's CBS may soon follow suit. But the network doesn’t have many sports rights outside of the NFL. The company’s changing leadership may even end up providing leverage to the NFL, not the other way around. Further, the output of scripted TV looks likely to decline as sports content becomes an increasingly reliable means of revenue for the network. “If you're looking at the amount they're paying for the NFL rights and other sports content… they need to get more value out of that in prime time,” says Belloni.