Podcast Summary: Paramount Skydance CEO David Ellison at Bloomberg Screentime

Podcast: Bloomberg Talks
Host: Lucas Shaw (Bloomberg)
Guest: David Ellison, Chairman & CEO, Paramount Skydance
Date: October 9, 2025

Overview

This episode features an in-depth interview with David Ellison, newly installed Chairman and CEO of the merged Paramount Skydance, conducted live from Bloomberg Screentime in Los Angeles. The conversation explores Ellison’s vision for reviving Paramount, strategies for digital and content transformation, his stance on media consolidation, the acquisition of The Free Press, the role of technology (including AI), and his guiding principles as a leader.

Key Discussion Points & Insights

1. Why Buy Paramount?

[00:29–02:23]

• Lucas Shaw opens by challenging Ellison on why he’d pursue Paramount, a company beset by declining cable assets and a lagging streaming service.
• David Ellison:
  • Proud of the starting assets: 80M streaming subscribers, an iconic content library (Paramount + CBS), and CBS’s continued dominance in primetime.
  • Views CBS as a “remarkable asset... number one in primetime for 17 straight seasons... still highly profitable.” [01:10]
  • Criticizes management of the last 15 years but sees “opportunity to reignite the creative content engines... and become the most technologically capable media company.”
  • Draws parallels to other disrupted industries, citing music and tech companies like Microsoft that found success by “disrupting themselves” and transforming.

2. Lifting Paramount in Streaming

[02:23–05:43]

• Paramount+ and Pluto TV together account for “around 2%” of TV viewing (vs Netflix at 8-9%, YouTube at 13%).
• Content Strategy:
  • Focus on “long-term partnerships with talent” for movies and series, not just single projects.

    "We want to build a relationship with you over a decade and actually say we’re going to make your next four or five movies..." [02:56]

  • Boasts about recent wins: UFC deal, partnership with Activision/Call of Duty, filmmaker James Mangold, and strong CBS broadcast lineup.
  • Reinvigorating creative output is Ellison’s first focus.
• Tech Strategy:
  • Bringing in top tech leadership (e.g., Dean Glasgow, ex-Meta/Facebook).
  • Promise to build platforms “that are competitive with Netflix and Amazon.”

3. Platform and Product Overhaul

[05:43–07:50]

• Technical Issues:
  • Paramount operates “three streaming platforms, three separate tech stacks on two different clouds,” which is “inefficient and wildly expensive.” [06:03]
  • Ongoing consolidation of back-end systems for cost savings and operational improvements.
  • Plan to overhaul product, improve recommendations, and use AI/data for better user experiences.
• Sports Content:
  • UFC acquisition demonstrates focus on sports: “Paramount had a really strong fall and spring sports calendar, but really light in the summer... With UFC, we have a year-long sports strategy.” [07:51]

4. Mergers, Acquisitions, & Industry Consolidation

[08:32–12:03]

• On Job Cuts:
  • Confirms $2 billion in run-rate synergies and ongoing efficiency improvements. Won’t specify timing for cuts.
• On Warner Bros. Discovery Merger Rumors:
  • Declines to confirm or deny interest: “Not in a position to comment on rumor or speculation..." [09:48]
  • Insists any consolidation would aim to produce more content, not less.

    "You actually need more content to yield more engagement." [11:00]

• On Further M&A:
  • Ellison avoids specifics but suggests a focus on talent, shareholders, and creating storytelling value.

5. Relationship with Washington & Media Power

[12:03–13:34]

• Asserts Paramount Skydance has a “good relationship” with the current administration and wants competition that benefits consumers ("not opportunities that will create things like too much pricing power").
• Emphasizes need to serve consumers and talent, not pursue monopoly power.

6. Acquisition and Vision for The Free Press

[13:34–15:55]

• Goal: “Become the most trusted destination in news media.” [13:51]
• Cites breakdown in civil discourse, wants “open exchange of ideas... fundamentally presenting both sides and allowing the audience to make their determination.”
• The Free Press acquisition is to augment CBS’s traditional news brand with a much-needed digital strategy.
• Direct-to-Consumer News:
  • Plans to build a home for news on DTC platforms, integrating Free Press and CBS News to “supercharge” their offering.

7. Restoring Trust in News and Addressing Staff Concerns

[15:55–18:48]

• Ellison distances himself from political statements, repeats his focus on civil discourse and openness.
• Responds diplomatically to concerns about Free Press founder Bari Weiss’s opinion background overlaping with CBS News.

  "Judge us basically over time as we prove to that... Going to need to demonstrate every single day that we’re obviously earning people’s trust." [18:02]

8. Israel, Public Statements, and Talent Pushback

[18:48–20:16]

• Defends company statement on Israel as an “anti-discrimination” position, not a political one.
• Acknowledges some internal pushback but supports the right to differing opinions (“We believe in the First Amendment. They are 100% entitled to their opinion, we’re entitled to ours.”) [20:03]

9. Family Influence: Larry Ellison

[20:16–22:05]

• Candid about guidance from his father, Oracle founder Larry Ellison, emphasizing that Paramount is run by David with strategic shareholder input from Larry.

  "I run the company day to day. Make no mistake about that." [21:50]

• Says public status maximizes value.

10. Addressing Industry Conspiracy Theories

[22:24–26:01]

• Rejects ideas of a “plot” between Ellison family, Trump, etc. to dominate media.
• Shares his life story and passion for storytelling—his career is driven by “love of movies and storytelling since I was a kid,” not by grand schemes.

  "Does the last 20 plus years of my life not equate?... I have always loved and believed in this business." [22:56]

• Summarizes Sky Dance’s longstanding foresight in bridging Silicon Valley and Hollywood.

11. Technology & AI in Entertainment

[26:01–28:27]

• Paramount Skydance “in the business of building, creating and protecting value of intellectual property.”
• Advocacy for responsible adoption of AI; sees tech as a tool for artists, referencing Pixar and James Cameron’s digital innovations.

  "We are just giving the artist a new pencil to actually enable them to draw and create something they've never been able to create before." [26:52]

• Commitment to protect copyrights on AI outputs.

12. Personal Touch: Who’s the Better Pilot?

[28:27–29:14]

• Light-hearted question about piloting skills vis-à-vis Tom Cruise.
• Ellison praises Cruise's dedication, noting his own history as an elite aerobatic pilot.

Notable Quotes & Memorable Moments

• On CBS and Paramount’s Opportunity:

  "We have 80 million streaming subscribers. We have one of the best basically content libraries in existence..." —David Ellison [01:00]

• On Industry Disruption:

  "There was a period of time where the Microsofts of the world... were being disrupted and those companies that actually disrupted themselves... are now trading at all-time highs, which we believe we have the opportunity to do the same thing." —David Ellison [01:48]

• On Content Partnerships:

  “Don’t just think about your next movie... We want to build a relationship with you over a decade.” —David Ellison [02:59]

• On Technology and Content:

  “Great art and great technology need to work hand in hand together to effectuate the transition the overall business is in.” —David Ellison [05:36]

• On News and Trust:

  "We want to become the most trusted destination in news media. That is our goal." —David Ellison [13:51]

• On AI as a Tool for Artists:

  “We are just giving the artist a new pencil.” —David Ellison (referencing Pixar and tech advances) [26:52]

Key Timestamps

• 00:29 — Why buy Paramount? Strategic vision.
• 02:23 — Scaling streaming: content and tech specifics.
• 05:43 — Paramout’s tech stack problems, vision for product.
• 07:51 — UFC and year-long sports strategy.
• 09:48 — Addressing Warner Bros. Discovery rumors.
• 13:51 — Vision for The Free Press acquisition.
• 16:16 — On political neutrality, civil discourse, and trust.
• 18:48 — Israel, company statements, and internal feedback.
• 20:16 — Larry Ellison's role and shareholder guidance.
• 22:56 — Personal motivations, Sky Dance origin, and Hollywood/Silicon Valley story.
• 26:52 — Embracing AI responsibly in the creative process.
• 28:36 — David Ellison’s pilot anecdotes.

Tone & Style

Ellison comes across as optimistic and future-focused, with an emphasis on innovation, efficiency, long-term partnerships, and restoring trust in media. He is careful with sensitive topics—deftly avoiding direct political statements—but he’s enthusiastic and personal when discussing both his family ties and his lifelong love for the film industry.