Shari Redstone insists Paramount is sized to compete in a tough media climate: “It’s not about market cap.”

“The scale isn’t about market capital or how much money you spend on content. “It’s about how much money you spend on content that resonates with your audience,” Shari Redston told Paramount shareholders, promising that the company would compete in an uncertain media world that has seen major mergers and acquisitions over the past year.

Redstone, the non-executive president of the company, delivered his first speech at the virtual annual meeting, saying, “The momentum we have created over the past year is huge and we believe we are 100% scalable. Towards success and victory “. This is the first shareholder meeting since the company changed its name from ViacomCBS to Paramount Global and it has some light in that Top Gun: Maverick Storms at the Box Office – the fifth issue of the studio. 1 Theatrical release in 2022.

CFO Naveen Chopra said the $ 15 billion the company spent on content could be monetized across multiple platforms, which makes more sense than spending on faceless competitors without this opportunity. “All of these number one movies are currently available or will be available on Paramount +, which means they will generate additional revenue through our streaming service on top of what has already been done in theaters,” he said. So it is with CBS broadcasts, with windows into the Paramount ecosystem.

Netflix’s debacle and rapid growth in subscription streaming services, as companies like Paramount can now visibly highlight diversity in broadcasting, cable and theater, rather than throwing it on the carpet as part of a commercial thesis. Also on AVOD Pluto TV

During filming, CEO Bob Bakish said Top Gun: Maverick The opening day of the Memorial “brought customers back to the large-scale theater and confirmed that if you create great content, they will come and continue to have great power in this community experience.”

It was about returning to senior audiences who loved the original but were more concerned about Covid, or whether to release new demos for older properties. “The reality is that the elders showed up and the younger ones showed up,” he said.

Supreme Lost City, Sonic The Hedgehog 2, Scream Y jack forever Also busy at the box office.

The latest merger was led by Warner Media-Discovery and Amazon-MGM.

As for Redstone’s market cap, Paramount has a market cap of $ 19.8 billion. For comparison, Warner Bros. Discovery is worth $ 41.5 billion. Netflix is ​​at $ 91 billion (after massive sales after last quarter profit). $ 197 billion from Disney, $ 192 billion from Comcast. It is not enough to say that media stocks have not caught fire, complicating the trading of stocks. Paramount is no small-scale acquisition other than a tech giant, and in any case, it’s unclear whether Redstone, whose family trusts the company, is willing to give up control.

Lionsgate’s market capitalization is $ 2.2 billion due to continuing management difficulties in the process of spinning off Starz to increase the value of each.