Monday, July 15, 2024

Ellison, Skydance CEO, believes new Paramount will transform into a tech-media hybrid

Skydance CEO David Ellison outlines vision for technology-media hybrid company at Paramount Global

Skydance Media CEO David Ellison has outlined an ambitious plan for Paramount Global, positioning the company as a technology-media hybrid in the face of increasing competition from tech giants entering the entertainment industry. In a presentation to investors following the announcement of a merger agreement with Paramount, Ellison emphasized the importance of the relationship between art and technology, citing the influence of Apple co-founder Steve Jobs.

Ellison’s vision for the merged entity involves leveraging technology to enhance the company’s offerings, particularly the Paramount+ streaming service. He discussed plans to improve recommendation algorithms, upgrade advertising technology, and utilize artificial intelligence to drive content creation and operational efficiencies.

One of the key factors behind the merger with Paramount was Ellison’s tech background, with his experience working with Oracle contributing to the decision to partner with Skydance. Paramount controlling shareholder Shari Redstone highlighted Skydance’s strategic vision and resources as key drivers for the merger.

Ellison also highlighted the use of technology in Skydance’s interactive games teams, including a virtual reality studio and an interactive group partnering with Disney and Marvel. The CEO emphasized the use of AI to push the boundaries of gameplay and enhance storytelling in the gaming industry.

Jeff Shell, the former NBCUniversal CEO who will join the newly merged company as president, praised Ellison’s unique blend of skills, including his background in writing scripts, acting, and coding. Shell believes Ellison will play a crucial role in defining the identity of the new Paramount Global.

Overall, Ellison’s vision for Paramount Global as a technology-media hybrid company signals a bold new direction for the entertainment industry, one that embraces technology to meet the demands of a rapidly evolving market.

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