Challenges such as the Hollywood strikes, streaming, and the Disney-Charter dispute, continue to impact the entertainment industry. Paramount Global CEO Bob Bakish sits down with Yahoo Finance Executive Editor Brian Sozzi at the Goldman Sachs Communacopia & Technology Conference to discuss the company’s plans amid headwinds in the industry. Bakish notes that “some of the topics of conversation” for the company at the conference are the Charter-Disney dispute, the Hollywood strikes, streaming, and the ad market. “Our point of view is, we’re continuing to push Paramount forward, transform the company. We’re arcing through our peak investment year in streaming, we’re turning the company to total company earnings growth next year, and we’re feeling good about that as we navigate, you know, some short-term challenges,” Bakish says. On the Hollywood strikes, Bakish says, “we are saddened that we couldn’t come to a revolution with SAG and the writers to avert this situation,” but “we have a responsibility to our consumers… and to our distributor and advertisers, to continue to engage people with great content.” Bakish notes that the company is pulling “levers,” such as “pulling product from international,” “pulling product from streaming,” and using “longer versions of some reality shows,” “to keep people entertained and keep our entertainment content compelling, and we’ll just have to see how long” the Hollywood strikes last and how it will impact 2024. Click here for more of Yahoo Finance's coverage from the Goldman Sachs Communacopia tech conference.

Read more --->