Viacom Presents New Strategic Plan - Quick Facts

(RTTNews) - Viacom Inc. (VIAB, VIA) announced an update on the company's strategic priorities following a comprehensive review of its operations and performance. Going forward, the company will be focused on a five-point plan to: put the full power of Viacom behind six flagship brands: BET, Comedy Central, MTV, Nickelodeon, Nick Jr. and Paramount; revitalize and elevate approach to content and talent; deepen partnerships to drive traditional revenue; make big moves in the digital world and physical world; and continue to optimize and energize the organization.

Viacom said Paramount's film slate will now include co-branded releases from each of the flagships, along with Paramount branded films focused on franchises, tentpoles and other projects. In an initial step, the company is announcing a commitment between Nickelodeon and Paramount to move forward on a slate of four films. The first of these films, Amusement Park, will premiere in theaters in summer 2018 and will launch a TV series on Nickelodeon the following year. Additionally, Spike will be rebranded in early 2018 as The Paramount Network, and will serve as Viacom's premier general entertainment brand.

Viacom announced plans to invest in new content experiences, and will establish its first ever dedicated short-form content unit, building on existing programming as well as all-new original IP. The company also plans to further extend the reach of Viacom's brands through live experiences and consumer products.