Home / Entertainment / Paramount's Jim Gianopulos asks why profitability is just the first step in rebuilding the studio

Paramount's Jim Gianopulos asks why profitability is just the first step in rebuilding the studio

"Being profitable is a good thing; At the level we should be achieving, being profitable is the next step, "says Jim Gianopulos, Paramount Pictures Chief.

Jim Gianopulos has not had a particularly easy job since his takeover as CEO of Paramount Pictures in 2017 – a year after the former icon – The studio had lost more than $ 450 million.

"When you look back, it's as dark as it gets, especially for a big studio," Gianopulos said Wednesday at Bank of America's annual media and entertainment conference, Merrill Lynch. "We've just made a profit, basically, for the first year in four years, to be profitable is a good thing, at the level we should be able to be profitable is the next step."

How does Gianopulos take this next step? A look at the studio's recent successes at the box office and the upcoming films give an insight into this answer.

The Paramount recovers The narrative continued last year with box-office hits such as "Mission: Impossible ̵

1; Fallout" ($ 791.1 million) and "A Quiet Place" ($ 340.9 million) Paramount has released 10 feature films with contributions from two holdovers from 2017.

This was a change in the studio's strategy and, according to Gianopulos, an important prerequisite for success.

Hopp This is only for WrapPRO members. Please log in or log in to view it.

Oops! This is a members-only post! Become a member to gain access!

Join WrapPRO to get exclusive content, full video access, premium events, and more!

$ 1 per day members only:

Full coverage

  • 5 exclusive members – stories only per week
  • Digital video industry analysis and deep-dive capabilities
  • Daily WrapPRO Newsletter featuring the latest news in the digital video industry

Exclusive video

  • Full-length video archive access
  • Video of noteworthy sessions by TheWrap Events

VIP seating for TheWraps Screening Series with Stars and Filmmakers
  • Access to Chillspots at Selected Industry Events Sundance, TIFF, Newfronts, and More
  • Access to exclusive invitation-only events
  • Resources

    • DataBank displays key statistics and streaming video Trends in the OTT market
    • Comprehensive research and white papers in the entertainment industry

    Source link