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Viacom CEO Philippe Dauman shared the news on the company’s quarterly earnings conference call on Thursday. The change is expected to kick in as of the 2016 calendar year.
Paramount previously trimmed its slate and managed releases more carefully, with a spokesman saying this year the studio is set to release 13 titles. “With the success of our first Paramount Animation feature, our unparalleled marketing capability and increased production across genres, the studio is stepping up its output and will be back up to its annual target of 15 films in 2016,” Dauman said.
The studio had no wide release in the latest quarter, for which Viacom on Thursday morning reported financials. A spokesman said the studio had 13 films set for theatrical release this year.
Dauman on the call touted the recent performance of Mission: Impossible — Rogue Nation and upcoming releases from or with Mark Wahlberg, Will Ferrell, Michael Bay and other big names.
The company said it has wrapped production on the Teenage Mutant Ninja Turtles sequel, Zoolander 2 and others, while it remains in production on the third Star Trek film and others. Also in the works are sequels to World War Z, Jack Reacher, Transformers, SpongeBob and Mission: Impossible.
Dauman on Thursday also touted the early performance of Paramount TV, highlighting key series commitments. The production arm’s first series, Minority Report, will debut shortly. A “formidable” slate of nine shows from the unit are ordered, with 12 more set up at networks and digital outlets, he said.
Discussing Paramount’s recently unveiled VOD experiment with AMC Entertainment, the CEO called it “a forward-looking solution that works for us, the theaters and the consumer.”
In conclusion, he said: “After a tough year, we believe Paramount is positioned to grow strongly next year and in the years to come, fueled both by a reinvigorated film business and our new high-growth TV production business.”
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