Sunday, October 24, 2021

Paramount Pictures to split its movie and television business as it looks to bounce back after the onslaught of the pandemic

According to recent reports, ViacomCBS Inc. plans on splitting the management of its movie and television businesses at Paramount Pictures as it reorganizes the operations at the unit. People who are familiar with the situation but wants to remain unnamed brought forth the following report, in which it was mentioned that Nickelodeon head Brian Robbins will oversee films, and David Nevins will have oversight of Paramount’s television unit, adding to his roles at Showtime and original content for Paramount+ streaming platform.

Brain Robbins will be taking over from Jim Gianopulos, who has been chairman and chief executive officer of Paramount since 2017. and both Robbins and Nevins will be reporting to ViacomCBS Chief Executive Officer Robert Bakish.

As we know, the global pandemic has changed our daily life in many ways and most of the industries around the globe have adopted the work-from-home culture. With social distancing being implemented heavily across the world, the film industry, which relies on theatres worldwide as its major source of income suffered severely during the pandemic.

The industry is now trying to bounce back from the global pandemic, which has left fans reluctant to gather in tight quarters. Due to the fact of theatres being out of access, many studios released most of their movies online at the same time they open in theaters. This has resulted in the cutting of potential ticket sales which further dwindled the profit which many of the high-profile movies were targeted to make. Paramount has one of the top-performing films of the year with “A Quiet Place Part II,” which has taken in almost $300 million worldwide.

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