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Skydance CEO David Ellison announces plans for the new Paramount to transform into a tech-media hybrid, combining advanced technology with traditional media. This innovative approach aims to reshape the entertainment industry, leveraging tech advancements to enhance content creation and distribution. Ellison's vision reflects a strategic move to stay competitive and relevant in a rapidly evolving market, promising to blend the best of both worlds in the future of entertainment.
Boston Brand Media brings you the latest news - On Monday, Skydance Media CEO David Ellison presented a vision for Paramount Global (PARA.O) as a technology-media hybrid during an hour-long presentation to the financial community. Ellison, who views the relationship between art and technology as symbiotic, cited Steve Jobs as a mentor influencing this perspective.
Ellison emphasized the importance of this merger, uniting Skydance, a media company established in 2010, with the century-old Paramount, to better meet the demands of a transformed market. He discussed enhancing the Paramount+ streaming service and leveraging artificial intelligence.
“There are many tech companies rapidly expanding into media,” Ellison noted. “It is essential for Paramount to grow its technology capabilities to function as both a media and technology enterprise.”
Boston Brand Media also found that, Ellison plans to improve Paramount+'s algorithmic recommendation engines to increase subscriber engagement and reduce cancellations. He also proposed upgrading advertising technology for better audience insights.
A slide deck for the investor call highlighted how artificial intelligence would “turbocharge content creation” and streamline operations.
“One thing underestimated about Ellison is his tech sense,” said Endeavor CEO Ari Emanuel, attributing this to Ellison's background and influence from his father, Oracle co-founder Larry Ellison.
Ellison's tech background influenced Paramount controlling shareholder Shari Redstone's decision to merge with Skydance, a long-time production partner of Paramount. In a note to Paramount employees, Redstone praised Skydance's strategic vision and resources.
Ellison described how Skydance collaborated with Oracle to create a cloud-based animation studio, used for the upcoming animated film “Spellbound,” increasing efficiency and reducing costs. He intends to scale this approach across all production workflows and animation.
Skydance's tech-centric storytelling extends to its interactive games teams, including a virtual reality studio behind “The Walking Dead: Saints and Sinners” and a group partnering with Disney and Marvel for the game “Marvel 1943: Rise of Hydra.”
Ellison is pushing the boundaries of AI in gameplay. Jeff Shell, the former NBCUniversal CEO joining the merged company as president, praised Ellison's unique blend of creative and technical skills.
"David is one of a kind," Shell said. "And he's going to define the identity of the new Paramount."
For questions or comments write to writers@bostonbrandmedia.com
Source: Reuters
