Challenges such as the Hollywood strikes, cord-cutting, and the Disney-Charter dispute continue to impact the entertainment industry. Paramount Global (PARA) CEO Bob Bakish spoke with Yahoo Finance Executive Editor Brian Sozzi at the Goldman Sachs Communacopia & Technology Conference to discuss the company’s plans amid headwinds in the industry. Bakish notes that some of the topics of conversation for the company at the conference are the dispute between Disney (DIS) and Charter (CHTR) and pressures forming in the digital ad market. “Our point of view is, we’re continuing to push Paramount forward, transform the company," Bakish says. "We’re arcing through our peak investment year in streaming, we’re turning the company to total company earnings growth next year, and we’re feeling good about that as we navigate, you know, some short-term challenges." On the Hollywood strikes, Bakish says, “we are saddened that we couldn’t come to a resolution with SAG and the writers to avert this situation,” but “we have a responsibility to our consumers… and to our distributors and advertisers, to continue to engage people with great content.” Bakish notes that the company is pulling “levers to keep people entertained and keep our entertainment content compelling" while waiting to see lasting effects of the Hollywood strikes going into 2024. Click here for more of Yahoo Finance's coverage from the Goldman Sachs Communacopia tech conference.
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