John Halley of Paramount Advertising was in the middle of an upfront pitch meeting for Publicis, one of four major holding companies in advertising, when news arrived that would change everything: his family had passed away unexpectedly and there had been an accident at work that night.
Bob Bakish officially left Paramount Global as CEO on April 12, largely as the result of intensified merger talks that kept Paramount in the public spotlight. Shortly before its Publicis dinner that evening, Paramount conducted a short earnings call containing no questions from Wall Street analysts – making headlines everywhere but itself!
Halley admitted in an interview with Deadline that this wasn’t her favorite setting for their messaging; but after entering the room it quickly became evident that this wasn’t going to affect it at all. We acknowledged it but quickly moved past it… The point being, they have something they want partners and clients to hear.”
Halley reported in 2023 that the new strategic approach he implemented for upfront selling has yielded results despite (or, perhaps even due to) corporate drama. Instead of hosting one large upfront presentation a year like CBS (then owned by Columbia Pictures; 2022 under new parent Paramount); now convenes more intimate gatherings – this year including seven dinner events in New York plus LA and Chicago presentations.
Halley said her roster has included Billy Bob Thornton, Sylvester Stallone, Nicole Kidman, Drew Barrymore Demi Moore Stephen Colbert and Jon Hamm.
Halley noted that Paramount’s uncertain future “did not stand in our way when trying to accomplish our objectives”, noting “whatever happens, it will occur over an extended period of time outside this planning period, without impact on their asset base, providing a refreshing sense of practicality in their approach.”
Although committing resources to one event was no longer required, the more decentralized approach allowed companies to enter the marketplace earlier than May 13, when media and tech companies are making their consolidated pitches. Although results won’t become evident for at least several weeks after their implementation, Halley said the new setup “has been an absolute home run for us; I find its effectiveness much superior to traditional presentations. [Upfront] week seems even more anachronistic now.” He continued that his ad group had received universal confirmation that its new format is superior compared with “traditional formats; no one has said they wish it was being done that way.”
Paramount Global has come under scrutiny of late for various shortcomings (which certainly exist), yet comes into the upfront season with momentum in certain areas. Paramount+ debuted with success at Super Bowl 50 broadcast and for 16 straight seasons is the highest rated broadcast network; Paramount boasts 261 Million Monthly Viewers across its linear and digital properties with deduplication audience reaching 200 Million Monthly.
“Coming off of a strike has been quite refreshing,” Halley observed, noting its debilitating effects for all involved. Yet Paramount “looked like geniuses last year” by not staging traditional upfronts or NewFronts; picketers became frequent visitors at NewFronts/upfronts events while talent often dropped off of view due to optics; Paramount was able to use dinner events that had concluded prior to WGA walkout, thus accommodating talent that came through Paramount without disruption from picketers in addition to shuttle talent back in and out during demonstrations/NewFront/Upfronts events by shuttle service at NewFront/Upfronts which became highly visible targets of picketer picketers since WGA began demonstrations began last May 2, making up to 30 people each day of NewFront/upfront/upfront/upfront/Upfront event for picketer picketers picketer picketer picketerers picketing them by leaving dinners which concluded before demonstration began and therefore allowed Paramount talent backstage to secure talent into an ongoing dinner event that concluded before start-out happened at NewFront/ Upfronts/Infronts/Infont/Infor/Into Stage/InForth as picketer demonstration started from May 2 last year NewFront/Infronts became highly visible targets of picketer demonstration, forcing out-into stage/NewFront etc… Paramount were shuttle talent into its being conducted which may 2;
Halley sees signs that macroeconomic environment is improving. “Everything’s better this year compared to last,” he stated, and noted: “we may still be in the epilogue of the pandemic”. In addition to Covid hangover effects, supply-chain issues, interest rate hikes inflation fears recession fears global conflict have all moderated which should help advertising expand again.
Halley has seen how upfronts have evolved since coming through Viacom’s tech-forward ad ranks; and has also witnessed noticeable effects that the season will bring with regard to impact and reach.
“As our business increasingly shifts to streaming-oriented models, the importance of upfronts has diminished dramatically over time,” noted Mr. Carlowe. In previous years when broadcast networks sold 75% or more inventory through upfronts as signals about future performance; now though they signal less about what to expect for year ahead. It just keeps diminishing.”
As far as Paramount’s corporate ups and downs were concerned, Halley noted, it appeared unfortunate from an outsider perspective; “it would have been far worse had this all happened three weeks later when they weren’t visible clients anymore.
Halley recalls telling the crowd at Publicis’ dinner: ”We will never forget this experience!'” Invoking Paramount’s beloved The Godfather film series as inspiration, Halley elaborated: “Media business: this is indeed our chosen profession!”
