Viacom to Bow Paramount Movie Channel in Spain27 Mar, 2012 By: Chris Tribbey, Erik Gruenwedel
Move underscores Hollywood's efforts at expanding studio brands and mining incremental revenue in new markets
Viacom March 27 said it is launching an ad-supported 24-hour television channel in Spain featuring predominantly Paramount Pictures movies.
Dubbed “Paramount Channel” (www.paramountchannel.es), it begins broadcasting in Spanish March 30 on over-the-air television (not pay-TV) in Spain, featuring Oscar-winner The Godfather. Thereafter, the channel will cycle through Paramount’s 100-year-old film library, in addition to select titles from other American studios and Spanish cinema.
Other movies among the 600 titles offered per year across nine genres (action, family and children, comedy, award winners, crime and mystery, science-fiction and fantasy, love and romance, horror and drama) include American Beauty, Breakfast at Tiffany's, A.I. Artificial Intelligence, Fatal Attraction and Elizabethtown.
The launch underscores Hollywood’s increased appeal internationally at the box office and individual studio efforts aimed at generating incremental revenue from substantial film libraries across different markets and distribution channels.
Indeed, Paramount could use the boost. The studio lost $31 million on revenue of more than $1.5 billion in its most recent fiscal period (ended Dec. 31), compared with a $68 million profit and $1.4 billion in revenue during the previous-year period.
Paramount Channel joins previously-launched Paramount Comedy, MTV and Nickelodeon in Spain.
“With the launch of Paramount Channel, we're bringing together the powerful combination of Paramount Pictures’ vast library of film content, and Viacom International Media Networks’ strong expertise in building global TV brands,” said Bob Bakish, president and CEO of Viacom International Media Networks. “This is an important strategic step in deepening our presence in a key market, Spain, while expanding our portfolio of adult-targeted brands.”