viacom inc-class a (VIA) Key Developments
Viacom Launches Velocity Product Group and Announce Appointments to Group
Aug 12 15
Viacom announced the launch of the Velocity Products Group, a new division within Viacom Ad Sales designed to bring multi-platform social partnerships, products, and services to clients. In addition to offering a specialized set of Velocity Product experts that are aligned with each Ad Sales team, the group harnesses the collective power of Ad Sales’ pioneering social and data products to super-serve clients. The Velocity Products Group will also drive partnerships with key external
social media platforms, including Snapchat, Twitter, and Tumblr. Elizabeth Herbst-Brady, who reports to Lucas, oversees the team in her expanded role as Executive Vice President of Ad Sales Strategy and Products. Reporting to Herbst-Brady are Kalina Nikolova, SVP Strategy, and Sarah Iooss, who steps into the newly created role of SVP, Velocity Product Group. Deborah Brett becomes VP of Velocity Products Group reporting to Iooss. Velocity Product Group’s offerings consist of a comprehensive slate of solutions, including: Viacom Vantage - Using a combination of Viacom’s proprietary data and third party data from multiple sources, Vantage offers advertisers precise consumer targeting and unmatched predictive capabilities. Echo - A strategic approach to harnessing Viacom’s unparalleled social reach with customized programs for ad partners. The groundbreaking analytics tool, Echo Social Graph, measures engagement deeply and holistically by tapping multiple social platforms, including those outside of Viacom’s own portfolio. The Social Talent Platform - Velocity makes talent engagement turnkey by giving advertisers direct access to a growing roster of social superstars for custom campaigns. Integration+ - This offering gives advertisers added flexibility and choice when customizing their branded entertainment opportunities. Pulse Real-Time Marketing " An exclusive multi-platform functionality that puts partners into the cultural conversation with sharable content in their authentic voice. Social Media Advertising Partnerships " Key social media partnerships with Twitter, Snapchat, and Tumblr bolster the reach and impact of social-by-design campaigns.
Viacom, Inc. Announces Robert K. Kraft Steps Down from the Board
Aug 7 15
On August 5, 2015, Robert K. Kraft notified the Board of Directors of Viacom Inc. that he is stepping down from the Board effective on that date, noting that his obligations elsewhere had increased to the extent that he no longer felt capable of fulfilling his duties as a member of the Board. Mr. Kraft has served as a director since January 1, 2006.
Viacom, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2015; Provides Revenue Guidance for the Fiscal Year 2016
Aug 6 15
Viacom, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2015. For the quarter, the company reported revenues of $3,058 million against $3,421 million a year ago. Operating income was $1,084 million against $1,086 million a year ago. Earnings from continuing operations before provision for income taxes were $946 million against $942 million a year ago. Net earnings from continuing operations were $645 million against $654 million a year ago. Net earnings attributable to the company were $591 million against $610 million a year ago. Net earnings from continuing operations attributable to company were $591 million against $611 million a year ago. Diluted earnings per share attributable to company from continuing operations were $1.47 per share against $1.40 per share a year ago. Adjusted net earnings from continuing operations attributable to company was $591 million against $618 million a year ago. Adjusted diluted EPS from continuing operations was $1.47 per share against $1.42 per share a year ago. Revenues declined 11% to $3.06 billion due to lower theatrical revenues in Filmed Entertainment, which scheduled no wide theatrical releases in the quarter. Adjusted operating income was steady at $1.08 billion. The company generated $380 million in operating free cash flow compared to $571 million last year. The decline in operating free cash flow was principally due to higher working capital utilization and higher cash interest.
For the nine months, the company reported revenues of $9,480 million against $9,792 million a year ago. Operating income was $2,057 million against $2,918 million a year ago. Earnings from continuing operations before provision for income taxes were $1,638 million against $2,506 million a year ago. Net earnings from continuing operations were $1,110 million against $1,722 million a year ago. Net earnings attributable to the company were $1,038 million against $1,659 million a year ago. Net earnings from continuing operations attributable to company were $1,038 million against $1,660 million a year ago. Diluted earnings per share attributable to company from continuing operations were $2.54 per share against $3.73 per share a year ago. Adjusted net earnings from continuing operations attributable to company was $1,596 million against $1,647 million a year ago. Adjusted diluted EPS from continuing operations was $3.91 per share against $3.70 per share a year ago. Results for the nine months ended June 30, 2015 were adjusted to exclude the effect of restructuring and programming charges, pension settlements and discrete tax items.
For fiscal 2016, the company expects to deliver continued strong growth in affiliate revenues, a return to growth in advertising revenues, a stronger slate and financial performance at Paramount and the resumption of buyback program to complement strong dividend yield.
Viacom, Inc. Announces Executive Appointments
Aug 5 15
Viacom announced the addition of three executives with expertise in developing, marketing, and monetizing data products, boosting the company's advanced analytic and marketing solutions. Joining Viacom are Bryson Gordon as Senior Vice President of Data Strategy and Viacom Vantage; Gabe Bevilacqua as Vice President of Product Management for Viacom Vantage; and, Kodi Foster as Vice President of Data Strategy. Bevilacqua and Foster report to Gordon, who will manage the team under the leadership of Kern Schireson, Viacom Executive Vice President of Data Strategy and Consumer Intelligence. Gordon and his team will be responsible for the development of innovative and game-changing data products for Viacom, which has taken an role in introducing new marketing programs that precisely target consumers. They will build upon the success of advertising tools such as Viacom Vantage, which enters its second year as a market leader in advanced predictive targeting, analytics and custom data implementations for agencies and advertisers. This new technical and product expertise significantly accelerates Viacom's already robust data capabilities and product portfolio to more fully monetize the continued engagement around the company's programming and brands. Gordon spent more than a decade at Microsoft leading consumer marketing, product management, and business incubation teams across Windows, Xbox, Office, Microsoft Store, and most recently, Surface. Bevilacqua has over a decade of experience in data-driven marketing technology. He was most recently COO at the company he co-founded, Rallyverse. Foster served as the Head of Brand Initiatives at Outbrain, where he led strategic account solutions and partnerships with Fortune 100 brands.
Viacom, Inc. Declares Quarterly Cash Dividend, Payable on October 1, 2015
Aug 4 15
Viacom, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.40 per share on both its Class A and Class B common stock. The dividend will be payable on October 1, 2015 to stockholders of record at the close of business on September 15, 2015.