Jun 06, 2019
Bakish talks Pluto TV, advanced advertising, and the importance of partnerships
Viacom President and CEO Bob Bakish addressed a crowd of investors at the Credit Suisse Annual Communications Conference in New York City on Tuesday. In a wide-ranging conversation, Bakish touched on the transformation that has taken hold throughout Viacom since he launched the company’s turnaround in early 2017.
“It's really about having a plan, executing on it,” Bakish said. “As you heard most recently in our second fiscal quarter earnings call, we made material progress in the distribution space in the U.S., in the ad space. Our flagship brands continue to perform and take share and they continue to expand off linear air both in media and beyond … We also de-levered the company … bringing down over $4 billion of debt and becoming truly an investment grade company again, not just one with an investment grade rating.”
Bakish went on to describe the strategic rationale behind Viacom’s recent acquisition of free-streaming service Pluto, underscore the health of the company’s relationships with distributors, and re-affirm its march back to ad sales growth. A few highlights of the conversation, which you can listen to in full here, are below.