Viacom is expecting to complete most of its current restructuring efforts by the end of March 2015, saving around $250 million as a result, the entertainment company's chief executive said at an investor conference on Monday 9th March 2015, reports Variety.
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Speaking at the Deutsche Bank 2015 Media, Internet & Telecom Conference, Philippe Dauman, the President and Chief Executive Officer (CEO) of Viacom Inc, said the company, which operates Nickelodeon, MTV and Comedy Central, was reorganizing and would retire certain kinds of programming that were less effective as more content from its networks turn up on subscription-video-on-demand services.
Some older programming "just doesn't work anymore, especially when you have off-broadcast programming that is on SVOD," Dauman said. "We are going to abandon some of that programming as we go forward, and continue to invest in what works, and that will help us grow."
Following their success with their daily, serialized format of hit shows like "Every Witch Way" and "House of Anubis", Nickelodeon recently announced at Nickelodeon Upfront 2015 that the network is picking up three more daily scripted series for the 2015-2016 programming season. These new live-action shows include: "Make It Pop", a comedic, music-infused daily strip about three girls who come together to start their own K-Pop-inspired band; "Talia's Kitchen" (working title), which follows a teenage girl who goes to work in her grandmother's Miami restaurant and finds that her talent for cooking is, quite literally, magical; and "The W.I.T.s Academy" (working title), a spin-off from "Every Witch Way" about the comedic adventures of young witches- and wizards-in-training. Nick has also renewed "Every Witch Way" for a fourth season and "Max & Shred" for season two.
Dauman's remarks come as Viacom is working to reorganize its TV networks. Viacom recently restructured the company's leadership team and reorganized its ad-sales staff.
Philippe said Viacom was stepping up investment in original programming, specifically scripted programs, across its networks. He also indicated that Viacom saw continued opportunity for growth in operating TV networks overseas, such as the recently acquired U.K. broadcaster Channel 5.
Follow NickALive! on Twitter, Tumblr, Google+, via RSS, on Instagram, and/or Facebook for the latest Nickelodeon and Viacom News and Highlights!
Speaking at the Deutsche Bank 2015 Media, Internet & Telecom Conference, Philippe Dauman, the President and Chief Executive Officer (CEO) of Viacom Inc, said the company, which operates Nickelodeon, MTV and Comedy Central, was reorganizing and would retire certain kinds of programming that were less effective as more content from its networks turn up on subscription-video-on-demand services.
Some older programming "just doesn't work anymore, especially when you have off-broadcast programming that is on SVOD," Dauman said. "We are going to abandon some of that programming as we go forward, and continue to invest in what works, and that will help us grow."
Following their success with their daily, serialized format of hit shows like "Every Witch Way" and "House of Anubis", Nickelodeon recently announced at Nickelodeon Upfront 2015 that the network is picking up three more daily scripted series for the 2015-2016 programming season. These new live-action shows include: "Make It Pop", a comedic, music-infused daily strip about three girls who come together to start their own K-Pop-inspired band; "Talia's Kitchen" (working title), which follows a teenage girl who goes to work in her grandmother's Miami restaurant and finds that her talent for cooking is, quite literally, magical; and "The W.I.T.s Academy" (working title), a spin-off from "Every Witch Way" about the comedic adventures of young witches- and wizards-in-training. Nick has also renewed "Every Witch Way" for a fourth season and "Max & Shred" for season two.
Dauman's remarks come as Viacom is working to reorganize its TV networks. Viacom recently restructured the company's leadership team and reorganized its ad-sales staff.
Philippe said Viacom was stepping up investment in original programming, specifically scripted programs, across its networks. He also indicated that Viacom saw continued opportunity for growth in operating TV networks overseas, such as the recently acquired U.K. broadcaster Channel 5.
Follow NickALive! on Twitter, Tumblr, Google+, via RSS, on Instagram, and/or Facebook for the latest Nickelodeon and Viacom News and Highlights!