Paramount Pictures
| File:Paramount Pictures (2022).svg Paramount Pictures logo | |
| Company type | Subsidiary |
|---|---|
| Industry | Film production and distribution |
| Founded | 1912 |
| Founder | Adolph Zukor |
| Headquarters | Hollywood, Los Angeles, California , United States |
Area served | Worldwide |
Key people | Barney Balaban (former president), Adolph Zukor (founder) |
| Products | Motion pictures, film distribution |
| Parent | Paramount Global |
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Paramount Pictures Corporation, commonly referred to as Paramount Pictures or simply Paramount, is an American company specializing in film production and distribution. It serves as the primary subsidiary of Paramount Global. Established in 1912, it ranks as the sixth oldest film studio worldwide and the second oldest within the United States, recognized as one of the "Big Five" based in Los Angeles.
The studio was founded by notable industry figures, including Adolph Zukor, who in 1916 signed contracts with 24 actors represented by stars on the company's emblem. Over time, Paramount has adapted its brand identity while maintaining a significant position in the market. In 2014, it became the first major Hollywood studio to distribute all of its releases digitally, demonstrating its focus on technological advancement. Its main offices and production facilities are situated at 5555 Melrose Avenue in Hollywood, California.
Among Paramount's top-grossing franchises are Transformers, Mission: Impossible, and Star Trek. The studio's extensive catalog includes landmark films such as The Godfather and Titanic, both of which set box office records upon release. As a participant in the Motion Picture Association, Paramount functions under the umbrella of the Paramount Motion Picture Group, holding a 49% interest in Miramax and a 50% stake in United International Pictures. Its operations also encompass divisions like Paramount Players and the revived Republic Pictures, reflecting a broad business strategy with global reach.
Famous Players Film Company
Paramount stands as the sixth oldest surviving film studio internationally and remains the last major studio headquartered in Hollywood, Los Angeles. Its roots date back to 1912 with the establishment of the Famous Players Film Company by Hungarian-born businessman Adolph Zukor. An early investor in nickelodeons, Zukor targeted working-class immigrant audiences. Collaborating with Daniel and Charles Frohman, he sought to create feature-length films that catered to middle-class viewers by casting prominent theatrical actors, summarized by the motto "Famous Players in Famous Plays." By mid-1913, Famous Players had produced five films, including its inaugural release, Les Amours de la reine Élisabeth, starring Sarah Bernhardt.
In 1913, producer Jesse L. Lasky formed the Lasky Feature Play Company with financial backing from his brother-in-law Samuel Goldfish (who later became known as Samuel Goldwyn). They appointed stage director Cecil B. DeMille to manage productions at a repurposed horse stable in Hollywood, later called the Lasky-DeMille Barn. Their debut feature film, The Squaw Man, was released in 1914.
On May 8, 1914, theatre proprietor W. W. Hodkinson from Utah established Paramount Pictures Corporation by consolidating five smaller companies. Within a week, Hodkinson secured a five-year distribution agreement with Famous Players, Lasky Company, and Bosworth, Inc., positioning Paramount as the first successful nationwide film distributor. This approach lowered expenses for producers by eliminating costly regional sales efforts. While Famous Players and Lasky remained privately held entities, Paramount operated as a corporation, laying groundwork for its expansive future growth.
Famous Players–Lasky
In 1916, Adolph Zukor facilitated the combination of his Famous Players company, the Lasky Company, and Paramount by purchasing Hodkinson’s interests, resulting in the creation of the Famous Players–Lasky Corporation on June 28. The newly formed organization retained the "Paramount" brand and emerged as the largest film enterprise at that time, valued at $12.5 million (equivalent to more than $300 million today). Production was overseen by Lasky, Goldwyn, and DeMille, distribution was managed by Hiram Abrams, and Zukor directed overall strategic initiatives. Facing competition primarily from First National Pictures, Famous Players–Lasky swiftly established market dominance. The merger was officially completed on November 7, 1916.
Zukor’s approach to business emphasized star appeal, securing contracts with prominent actors such as Mary Pickford, Douglas Fairbanks, Gloria Swanson, and Rudolph Valentino. Paramount implemented "block booking," a system obligating theater owners to purchase a full year's lineup of films to gain access to movies starring top actors—this tactic ensured market control but later became subject to antitrust challenges.
By the mid-1920s, the company required larger studio space to accommodate growth. On January 5, 1926, Lasky purchased the Robert Brunton Studios in Hollywood for $1 million (approximately $16 million in today’s terms), initiating extensive renovations and new construction projects. By May 8, operations had relocated to this site, which continues to serve as part of Paramount's headquarters. Zukor appointed B. P. Schulberg to oversee West Coast activities, capitalizing on his talent scouting capabilities.
On April 1, 1927, the firm adopted the name Paramount Famous Lasky Corporation. Later that year in September, its New York-based Astoria studio temporarily ceased operations to upgrade facilities for sound film production. In 1927, Paramount began distributing Inkwell Imps cartoons produced by Fleischer Studios—significant competitors to Walt Disney in animation at the time. The Paramount Newsreel series was produced from 1927 until 1957. As an early innovator in sound films ("talkies"), Paramount released its first musical in 1929 titled Innocents of Paris, starring Maurice Chevalier with music composed by Richard A. Whiting and Leo Robin.
Publix, Balaban and Katz, Loew's competition and wonder theaters
Zukor propelled Paramount’s expansion by developing a network of nearly 2,000 screens, operating studios located in Astoria, New York (now known as Kaufman Astoria Studios) and Hollywood, California, and making early investments in radio broadcasting through acquiring a 50% share in Columbia Broadcasting System in 1928 (later divested).
The acquisition of the prominent Balaban & Katz theater chain in 1926 brought influential figures such as Barney Balaban (who became Paramount president in 1936), his brother A. J. Balaban (head of stage production), and their partner Sam Katz (manager of the Paramount-Publix theater circuit in New York City) into the corporation.
Balaban and Katz had introduced the Wonder Theater concept around 1918 in Chicago. Following their acquisition by Publix, these theaters were expanded starting in New York City from 1927 onward. Nevertheless, Loew's held a dominant position in NYC and negotiated a non-compete agreement with Publix: Loew's developed five wonder theaters within New York City while Publix concentrated on Chicago and its neighboring regions.
On April 24, 1930, the company formerly known as Paramount-Famous Lasky Corporation was renamed Paramount Publix Corporation, signifying its combined production and exhibition operations.
1920s and 1931–1940: Financial Crisis and Corporate Restructuring
By 1917, Zukor had phased out nearly all of his initial partners; Lasky remained involved until 1932 but was eventually ousted amid the company's severe financial difficulties during the Great Depression. In an effort to manage the mounting fiscal challenges in 1931, Zukor appointed taxi and rental car entrepreneur John D. Hertz as chairman of the finance committee to assist vice-president and treasurer Ralph A. Kohn. Nevertheless, Hertz stepped down in January 1933 after his attempts to revive the company proved unsuccessful. Excessive expansion combined with overvalued stock acquisitions led to a $21 million debt load, forcing Paramount into receivership on January 26, 1933, and subsequently bankruptcy by March 14. Trustees assumed control on April 17, marking the end of Zukor's tenure at the helm. The following year was dedicated to debt restructuring and developing a formal reorganization plan, which was submitted on December 3, 1934. Federal Judge Alfred C. Coxe Jr. sanctioned the reorganization under Section 77-B of the Bankruptcy Act on April 25, 1935.
On June 4, 1935, John E. Otterson was appointed president of the newly established Paramount Pictures Inc.. Zukor returned briefly as head of production but was soon succeeded by Y. Frank Freeman after Barney Balaban took over as president in July 1936; Zukor then assumed the role of chairman of the board. Paramount reentered the New York Stock Exchange on August 28, 1935, and under Balaban’s guidance, successfully revitalized its operations.
During this period, Paramount focused heavily on star-centered films showcasing performers such as Gloria Swanson, Rudolph Valentino, Mae West, Gary Cooper, Marlene Dietrich, Bing Crosby, Claudette Colbert, the Marx Brothers, Cary Grant, among others. The studio maintained an annual output of sixty to seventy films, capitalizing on its vast theater network and block booking strategies to maintain market dominance. Mae West’s daring movies She Done Him Wrong and I'm No Angel in 1933 significantly increased profits but also triggered stricter enforcement of the Production Code due to their controversial content.
Paramount’s animation branch flourished with Fleischer Studios’ iconic characters like Betty Boop and Popeye the Sailor—who had become more popular than Mickey Mouse by 1935. Following internal disputes and unsuccessful attempts at feature-length films, Paramount acquired Fleischer Studios and renamed it Famous Studios, which continued producing cartoons until 1967 but failed to match the original artistic success achieved under the Fleischer brothers.
1941–1950: United States v. Paramount Pictures, Inc.
In 1940, Paramount consented to a government decree that ended block booking and "pre-selling," resulting in a reduction of annual production from 71 films to just 19 during World War II. Despite this cutback, wartime audience attendance and emerging stars such as Bob Hope and Veronica Lake contributed to increased revenues. Meanwhile, both the Federal Trade Commission and Justice Department renewed antitrust investigations targeting major studios. Paramount’s control over Detroit theaters via United Detroit Theaters played a significant role in the landmark 1948 Supreme Court ruling in United States v. Paramount Pictures, Inc., which prohibited studios from owning theater chains outright. This decision dismantled Paramount’s vertically integrated business model and effectively brought an end to the traditional Hollywood studio system.
1951–1966: Division and Subsequent Developments
In the aftermath of the Supreme Court decision, Paramount Pictures Inc. underwent a split: Paramount Pictures Corporation continued overseeing film production and distribution, whereas United Paramount Theaters (UPT), under Leonard Goldenson's leadership, took charge of the 1,500-screen cinema chain. Possessing ample capital and valuable properties, Goldenson purchased the struggling ABC television network in 1953, transforming it into a profitable enterprise and one of the highest-rated networks on Nielsen by the mid-1970s before its sale to Capital Cities Communications in 1985. UPT was rebranded as ABC Theaters in 1965 and later sold to Henry Plitt in 1977; it eventually merged with Cineplex Odeon in 1985. Paramount’s television division maintained a close collaboration with ABC, providing numerous successful series.
Paramount was among the pioneers in television, initiating experimental stations as early as 1939 that evolved into KTLA in Los Angeles and WBKB in Chicago—later sold to UPT and CBS respectively. In 1938, Paramount acquired a minority interest in DuMont Laboratories, becoming a part-owner of the DuMont Television Network and launching its own Paramount Television Network in 1948.
The company aimed to broaden its portfolio of owned-and-operated stations but faced FCC restrictions limiting networks to five VHF stations. The FCC determined that Paramount’s stake in DuMont effectively combined their holdings, barring further acquisitions. Paramount’s refusal to relinquish its DuMont shares hindered its expansion relative to competitors CBS, ABC, and NBC.
In 1953, UPT merged with ABC; however, a proposed merger between DuMont and ABC was blocked by Paramount due to antitrust concerns, accelerating DuMont’s decline until it ceased operations in 1956.
Paramount also invested in the experimental pay-TV service International Telemeter in 1951, but FCC opposition led to its termination by 1954.
Following the divestiture of its theater chain, Paramount entered a period of decline—reducing production output, releasing contracted talent, and increasingly relying on independent agreements. By the mid-1950s, most prominent stars had departed except for Cecil B. DeMille, who achieved a major success with his 1956 remake of The Ten Commandments. DeMille passed away in 1959. In 1958, Paramount sold much of its pre-1950 film catalog (764 titles) to MCA/EMKA (now Universal Television), reflecting the undervaluation of its film assets at that time.
1966–1970: Initial Gulf+Western Period
By the early 1960s, Paramount confronted substantial difficulties: an unstable film market, loss of its theater division, unsuccessful ventures with DuMont and early pay-TV initiatives, and dwindling returns from its remaining asset, Dot Records. The company’s aging management struggled to keep pace with industry changes, leading to its acquisition in 1966 by Charles Bluhdorn’s industrial conglomerate Gulf and Western Industries. Bluhdorn appointed producer Robert Evans as head of production; Evans revitalized Paramount’s commercial fortunes with acclaimed films such as The Odd Couple, Rosemary's Baby, Love Story, The Godfather, Paper Moon, Chinatown, and 3 Days of the Condor.
In 1967, Gulf and Western purchased Desilu Productions from Lucille Ball, acquiring valuable television properties including Star Trek, Mission: Impossible, and Mannix. This acquisition contributed significantly to establishing Paramount Television as a dominant force in half-hour sitcom programming.
Paramount also launched Films Distributing Corp in 1968 to manage controversial film releases like Sin With a Stranger, which was among the first movies rated X under the newly implemented MPAA rating system.
1971–1980: Formation of CIC and the Rise of High-Concept Films
In 1970, Paramount joined forces with Universal Pictures to establish Cinema International Corporation (CIC), which handled film distribution outside the United States. By 1973, Metro-Goldwyn-Mayer became a partner in this venture. Paramount and CIC both ventured into the home video sector through Paramount Home Video (now known as Paramount Home Media Distribution) and CIC Video.
Following Robert Evans’ departure as production chief in 1974, the leadership under Richard Sylbert was replaced in 1976 by a team with strong television expertise led by Barry Diller. This group, featuring future industry figures such as Michael Eisner, Jeffrey Katzenberg, Dawn Steel, and Don Simpson, played a pivotal role in shaping Paramount’s strategic direction during this era.
Paramount concentrated on producing "high concept" movies like Saturday Night Fever and Grease, which achieved swift international acclaim. The acquisition of the Star Trek franchise became a significant long-term asset, allowing Paramount to compete with the popularity of Star Wars. Diller also proposed launching a fourth commercial network, Paramount Television Service (PTVS), acquiring the Hughes Television Network in 1976 to facilitate this plan. Although PTVS never launched, Diller later brought the idea to 20th Century Fox in 1984, influencing Rupert Murdoch’s approach to network creation.
Later, Paramount’s television division introduced UPN in 1995, which operated for eleven years before merging with The WB to create The CW in 2006. UPN capitalized on Paramount’s original shows, including franchises like Star Trek: Voyager and Star Trek: Enterprise, helping it maintain a competitive edge through innovative content distribution strategies.
Paramount Pictures’ record label operations were distinct from earlier entities named Paramount Records. In the late 1960s, it acquired rights to use the name for soundtrack releases and pop reissues from the Dot Records catalog, which Paramount had purchased in 1957. By 1970, Dot Records shifted focus to country music, and in 1974, Paramount sold its record division to ABC Records, which was later acquired by MCA (now part of Universal Music Group) in 1979.
1980–1994: Sustained Success
Throughout the 1980s and early 1990s, Paramount maintained its momentum with hits such as Airplane!, American Gigolo, Ordinary People, An Officer and a Gentleman, Flashdance, Terms of Endearment, Footloose, Pretty in Pink, Top Gun, Crocodile Dundee, Fatal Attraction, Ghost, and the Friday the 13th franchise. Collaborations with Lucasfilm and Steven Spielberg yielded the lucrative Indiana Jones series, while other notable franchises included Star Trek and Eddie Murphy-led comedies such as Trading Places, Coming to America, and Beverly Hills Cop. The studio balanced box office hits with critically acclaimed films like Atlantic City and Witness. Leadership transitioned from Eisner and Katzenberg to executives including Frank Mancuso, Sr., Ned Tanen, Stanley R. Jaffe, and Sherry Lansing. During this period, Paramount increasingly relied on remakes and TV spin-offs, which produced varying degrees of commercial success.
In 1981, Paramount acquired fellow Gulf and Western subsidiary Sega, marking its entry into the video game industry; however, it divested Sega following the market crash of 1983. The companies later reunited for the successful live-action/CGI adaptations of the Sonic the Hedgehog franchise.
A significant fire in August 1983 destroyed multiple sound stages and outdoor sets, causing disruption to production capabilities.
After Charles Bluhdorn’s passing, Martin Davis took over leadership and refocused Gulf and Western into Paramount Communications in 1989 by divesting non-entertainment assets. This restructuring allowed for acquisitions of television stations and theme parks under the brand Paramount Parks, including properties like Great America, Canada's Wonderland, Carowinds, Kings Dominion, and Kings Island.
In an effort to streamline talent management, Paramount established an exclusive talent division in 1985 under studio president Dawn Steel, but it was dissolved by 1986 due to limited effectiveness. In 1987, Paramount collaborated with MGM/UA and Universal Pictures to distribute content within China’s expanding market. That same year saw consolidation of distribution operations aimed at cost reduction and efficiency improvements alongside growth of Paramount Overseas Productions for international filming projects.
In 1993, Viacom, led by Sumner Redstone, acquired Paramount Communications for $10 billion following a bidding contest with Barry Diller’s QVC. This acquisition aligned with Viacom’s objective to broaden its entertainment holdings.
Paramount remains unique as the last major Hollywood studio headquartered within Hollywood itself. While peers such as Warner Bros. relocated to Burbank and Columbia Pictures moved to Culver City, Paramount has preserved its historic lot through renovations that honor Hollywood’s heritage while serving as a popular destination via studio tours.
1989–1994: Paramount Communications
Starting in 1983, Gulf and Western initiated a strategic transformation, transitioning from a broad conglomerate to a concentrated entertainment and publishing enterprise to enhance shareholder value. Under the guidance of CEO Martin S. Davis, the company divested numerous non-essential businesses, such as sugar plantations and consumer goods divisions in 1985. By 1989, the firm rebranded itself as Paramount Communications Incorporated, highlighting its key asset, Paramount Pictures, and updated its stock symbol from GW to PCI.
The holdings of Paramount Communications encompassed Paramount's film, television, home video, and music publishing units; Madison Square Garden properties including the MSG Network; a 50% ownership in USA Networks shared with MCA/Universal; publishing entities like Simon & Schuster, Prentice Hall, Pocket Books, and Allyn & Bacon; the Cineamerica joint venture with Warner Communications; and the Canadian cinema chain Famous Players Theatres.
In that year, Paramount launched a hostile takeover bid valued at $12.2 billion for Time Inc., aiming to prevent Time's proposed merger with Warner Communications. Time countered with a $14.9 billion offer, and following favorable court decisions for Time, Paramount withdrew its bid and legal challenges, paving the way for the establishment of Time Warner.
The company reinvested capital obtained from divesting non-entertainment assets to acquire television stations from TVX Broadcast Group—primarily major market stations previously owned by Taft Broadcasting—as well as KECO Entertainment’s theme parks from Great American Broadcasting. These acquisitions were consolidated under the Paramount Stations Group and Paramount Parks brands.
Also in 1989, Paramount Television collaborated with USA Networks (which later became NBCUniversal Cable) to form Wilshire Court Productions, focusing on producing television movies for USA and other networks. USA Networks introduced the Sci-Fi Channel (now Syfy) in 1992, specializing in science fiction programming largely sourced from Paramount or Universal libraries. In 1993, Paramount expanded further by purchasing WKBD-TV in Detroit from Cox Enterprises; at that time, it was affiliated with Fox.
1994–2005: Dolgen/Lansing and "old" Viacom era
In February 1994, Viacom secured a controlling interest of 50.1% in Paramount Communications Inc. through a $9.75 billion acquisition after a protracted five-month contest with QVC, finalizing the merger by July. Paramount’s assets included Paramount Pictures, Madison Square Garden facilities, professional sports teams like the New York Rangers and New York Knicks, as well as Simon & Schuster publishing. Although Gulf and Western had contemplated this since 1989, this transaction marked a significant expansion for Viacom within the entertainment sector.
During this timeframe, Jonathan Dolgen served as chairman of Paramount Pictures with Sherry Lansing as president. Their tenure saw production of two of the studio’s top ten highest-grossing films, notably Titanic (1997), co-produced alongside 20th Century Fox and Lightstorm Entertainment; the film earned over $1.8 billion globally and became the highest-grossing motion picture at that time. Additionally, Paramount released three films awarded Best Picture Oscars: Titanic, Braveheart, and Forrest Gump.
The studio’s premier franchise was Star Trek, which generated significant revenue streams through television series, feature films, literature, and merchandising licenses. By 1998, Star Trek was responsible for a major portion of studio profits and commanded substantial production resources across multiple TV series.
In 1995, Viacom partnered with Chris-Craft Industries to establish the United Paramount Network (UPN), featuring shows such as Star Trek: Voyager. Viacom eventually gained full ownership of UPN and integrated its operations into CBS following CBS’s acquisition of Viacom in 2000. This era also involved acquiring Republic Pictures, Spelling Television, and Viacom Productions—nearly doubling Paramount’s television content library. The television division produced prominent series including Frasier, NCIS, Becker, and Entertainment Tonight. Viacom also obtained rights to the Rysher Entertainment catalog.
Operating under Viacom Entertainment Group, Paramount expanded its theme park operations to become North America’s fourth-largest group in this sector, highlighted by a long-standing "Star Trek" attraction located in Las Vegas. Famous Music nearly doubled in size during this period by developing artists such as Pink, Bush, and Green Day while managing classic music catalogs including those of Duke Ellington and Henry Mancini. The licensing division launched branded ventures like "Cheers" franchise bars and The Bubba Gump Shrimp Company restaurants inspired by Forrest Gump. The company also produced over ten Broadway musicals including Irving Berlin's White Christmas and Andrew Lloyd Webber's Sunset Boulevard. Internationally, United International Pictures (UIP) maintained dominant distribution roles for Paramount and partner studios over a decade. Within the group, Simon & Schuster emerged as a leading U.S. trade book publisher.
In 2002, Paramount collaborated with major studios such as Disney, Fox, Sony, MGM/UA, Universal, DreamWorks, Lionsgate, and Warner Bros. to form Digital Cinema Initiatives (DCI). Under leadership from Paramount COO Tom McGrath, DCI established technical standards aimed at replacing traditional film projection with digital cinema technology—improving performance consistency and quality control. McGrath also led efforts at Paramount to pioneer Blu-ray Disc technology deployment.
2005–2019: The "New" Viacom Period
On December 11, 2005, Paramount Motion Pictures Group completed the acquisition of DreamWorks SKG, co-founded by former Paramount executive Jeffrey Katzenberg, for $1.6 billion. Paramount's chairman and CEO Brad Grey described this purchase as a key strategic step to strengthen its film slate and reclaim a leading position in the industry. While the agreement did not include DreamWorks Animation SKG Inc., Paramount managed distribution of its films from 2006 through 2012 before the rights transferred first to 20th Century Fox and subsequently to Universal Pictures following NBCUniversal's acquisition.
Facing obstacles in broadcasting, Viacom recorded an $18 billion impairment related to radio assets in 2005 and announced a corporate division. The Viacom board split the company into CBS Corporation and a restructured Viacom, effective December 31, 2005. CBS Corporation encompassed CBS and UPN networks, Paramount Television, Showtime Networks, among others, whereas the new Viacom retained cable channels such as MTV, VH1, and Nickelodeon, along with Paramount Pictures. Leadership of this reorganization was under Brad Grey and Gail Berman.
By the end of 2006, Grey ended the United International Pictures (UIP) joint venture, with Paramount assuming distribution responsibilities in markets including Australia, Brazil, France, and the United Kingdom, while Universal continued handling other territories. Paramount launched its own international distribution division headquartered in Los Angeles and established a European office. In South Korea, following Universal’s exit from UIP in 2016, Paramount collaborated with CJ Entertainment for distribution efforts. Under Andrew Cripps’ leadership as head of Paramount Pictures International, the studio achieved over $1 billion in global box office revenue in 2007 during its inaugural year operating independently.
In October 2008, executives from DreamWorks departed Paramount to reestablish an independent DreamWorks company; meanwhile, DreamWorks Animation retained ownership of its trademarks. Paramount also created a Digital Entertainment division aimed at capitalizing on emerging digital platforms, becoming the second major studio to distribute films through Apple's iTunes Store.
In 2007, Paramount divested its music publishing division Famous Music to Sony/ATV Music Publishing, concluding nearly eighty years of involvement in music publishing.
Paramount further advanced digital engagement by partnering with developers such as FanRocket to provide film clips on Facebook via the VooZoo app and entered similar agreements with MTV’s vMTV platform.
In 2009, CBS Corporation renamed its production unit to CBS Television Studios, removing the Paramount branding to clarify corporate identity.
Paramount established Insurge Pictures in 2010 to release micro-budget films (approximately $100,000 each), debuting with The Devil Inside. Due to diminishing returns, Insurge was reintegrated into the main studio by 2015.
After DreamWorks Animation separated in 2012, Paramount launched Paramount Animation in 2011 to develop original animated features — marking its first dedicated animation division since 1967.
In December 2013, Walt Disney Studios acquired future distribution and marketing rights for Indiana Jones films from Paramount as part of its Lucasfilm acquisition; however, Paramount retained rights to the initial four movies along with financial participation in subsequent releases.
In February 2016, Viacom CEO Philippe Dauman considered selling a minority stake in Paramount; nonetheless, opposition from Sumner Redstone's family halted negotiations. Later that year, Wanda Group explored purchasing a 49% stake but talks were discontinued. In January 2017, Shanghai Film Group Corp. and Huahua Media agreed to co-finance at least one-quarter of Paramount’s films over three years and assist with distribution within China — reflecting an industry-wide trend toward partnerships with Chinese companies.
Jim Gianopulos was named chairman and CEO of Paramount Pictures on March 27, 2017, succeeding Brad Grey.
In June 2017, Paramount established Paramount Players, led by Brian Robbins (founder of AwesomenessTV), focusing on films derived from Viacom Media Networks properties such as MTV and Nickelodeon. That same year, Paramount entered into a film distribution agreement with 20th Century Fox for Italy starting September; previously Universal had handled distribution there.
Between late 2017 and early 2018, Paramount sold international rights for titles like Annihilation and The Cloverfield Paradox to Netflix. In November 2018, Paramount secured a multi-picture deal with Netflix — representing the first major studio partnership of this nature — aligning with Viacom’s strategy for business expansion.
By April 2018, Paramount posted its first quarterly profit since 2015. CEO Bob Bakish highlighted improved profitability margins alongside box office success with A Quiet Place, demonstrating effective strategic leadership and turnaround progress.
2019–present: ViacomCBS/Paramount Global period
On September 29, 2016, National Amusements proposed a merger between CBS Corporation and Viacom to exploit "significant synergies." However, the initial agreement was abandoned in December 2016. Merger talks resumed by May 2019, with an informal deadline of August 8 set to finalize the deal. CBS aimed to purchase Viacom for up to $15.4 billion. On August 2, 2019, both companies consented to reunite under the name ViacomCBS, completing the transaction on December 4, 2019.
In December 2019, ViacomCBS acquired a 49% ownership interest in Miramax from beIN Media Group, securing distribution rights for Miramax’s catalog of 700 films and future productions, as well as television adaptation rights derived from its intellectual properties. The transaction closed in April 2020. Following this, ViacomCBS rebranded its streaming platform CBS All Access as Paramount+, aiming to capitalize on the Paramount brand for global growth and to consolidate content from CBS, MTV, Nickelodeon, and other networks.
In September 2021, a leadership change occurred when Nickelodeon president Brian Robbins replaced Jim Gianopulos as CEO of Paramount Pictures.
Paramount Pictures acquired film adaptation rights in January 2022 for Tomi Adeyemi’s young adult novel Children of Blood and Bone, with Adeyemi attached as screenwriter and executive producer. The project is being developed by Temple Hill Entertainment alongside Sunswept Entertainment.
On February 16, 2022, ViacomCBS underwent a corporate rebranding to become Paramount Global, aligning its brand identity with its flagship studio.
Paramount Players was consolidated into Paramount Pictures Motion Picture Group on March 8, 2022; however, it continues to function as a label for forthcoming films.
In November 2022, Paramount secured a multi-year exclusive agreement with Walter Hamada, former president of DC Films, to oversee the studio's horror film slate starting in 2023.
By 2024, terms were agreed upon for a $28 billion merger between Paramount Global and Skydance Media. Negotiations involving Skydance CEO David Ellison and Shari Redstone have extended into 2025.
DreamWorks Pictures
Paramount became the parent company of DreamWorks Pictures in 2006. Shortly thereafter, Soros Strategic Partners and Dune Entertainment II acquired controlling stakes in live-action films distributed through DreamWorks, beginning with Just Like Heaven. Paramount retained distribution and ancillary rights for these titles.
On February 8, 2010, Viacom reacquired Soros’ controlling interest in DreamWorks’ pre-2005 film library for approximately $400 million. Although DreamWorks shifted distribution of live-action films outside established franchises to Walt Disney Studios Motion Pictures and later Universal Pictures, Paramount continued to hold ownership of films released prior to the merger as well as those it distributed directly. This included sequel rights such as those for Little Fockers (2010). Paramount managed international distribution for Little Fockers, while Universal handled domestic release.
Paramount also possessed distribution rights to the DreamWorks Animation (DWA) catalog before 2013. This arrangement concluded at the end of 2012 with Rise of the Guardians. Titles released after this date were distributed by 20th Century Fox starting with The Croods (2013) through Captain Underpants: The First Epic Movie (2017). Following NBCUniversal’s acquisition of DWA in 2016, Universal Pictures assumed distribution duties beginning with How to Train Your Dragon: The Hidden World (2019). Paramount’s rights over the DWA library spanning from 1998 to 2012 were set to expire sixteen years after each film’s initial release. In July 2014, DreamWorks Animation purchased Paramount’s distribution rights for the pre-2013 library; thereafter, distribution was managed by 20th Century Fox until January 2018 when Universal took over.
Additionally, Paramount holds the pre-2008 DreamWorks Television catalog distributed through sister company CBS Media Ventures, which includes series such as Spin City, Freaks and Geeks, and Undeclared.
CBS library
Following the 2000 Viacom/CBS merger, Paramount assumed responsibility for the theatrical distribution of films created by CBS's motion picture units, managed by the independent firm Hollywood Classics.
Paramount primarily oversees the video distribution rights for the CBS catalog. Titles with lower demand are frequently made available through CBS’s on-demand services or licensed to Visual Entertainment Inc. The 2019 Viacom/CBS merger further broadened this collection, granting Paramount Animation theatrical distribution rights to Terrytoons shorts, while television distribution remains under the control of CBS Media Ventures. It is also significant that the video rights for My Fair Lady returned from Warner Bros. to Paramount.
Divisions
- Paramount Pictures
- Paramount Home Entertainment
- Paramount DVD
- Paramount High Definition (HD DVD and Blu-Ray)
- Paramount Licensing, Inc.
- Paramount Pictures International
- Paramount Players
- Nickelodeon Movies
- Paramount Studio Group – facilities for studio and post-production work
- The Studios at Paramount – production campus
- Paramount on Location – production support services across North America (including New York City, Vancouver, Atlanta)
- Worldwide Technical Operations – manages archives, restoration, mastering, and post-production
- Paramount Parks & Resorts – responsible for licensing and design related to parks and resorts
- Paramount Home Entertainment
- Paramount Animation
- Paramount Music
Joint ventures
- United International Pictures (jointly owned with Comcast’s Universal Pictures)
Former divisions, subsidiaries, and joint ventures
- Paramount Digital Entertainment (currently inactive)
- Original Paramount Television – now operating as CBS Studios
- Big Ticket Entertainment – producer of The Drew Barrymore Show and Hot Bench
- Spelling Television (name maintained since 2006)
- Viacom Productions (integrated into PNT in 2004)
- Wilshire Court Productions (ceased operations in 2003)
- Paramount Domestic Television – currently CBS Media Ventures; absorbed Viacom Enterprises (1995), Rysher Entertainment, and Worldvision Enterprises (1999)
- United Paramount Network (UPN) – collaboration with United Television; currently part of Nexstar/Paramount Global/Warner Bros. Discovery’s The CW
- Paramount Stations Group – now operates as CBS News and Stations
- USA Networks – formerly co-owned with Universal; stake divested in 1997
- Paramount International Television – merged with CBS Broadcast International in 2004 forming CBS Studios International
- Paramount Television Studios (2013–2024) – operations consolidated into CBS Studios
- Paramount Worldwide Television Licensing & Distribution – merged in 2020 with CBS Studios International to create ViacomCBS Global Distribution Group
- Fleischer Studios – acquired in 1942; restructured as Famous Studios; library incorporated into Paramount Animation
- Terrytoons – acquired in 1956; theatrical rights transferred to Paramount Animation after the 2019 merger
- Paramount Famous Productions – direct-to-video unit active from 2007 to 2011
- Paramount Parks – divested to Cedar Fair Entertainment Company in 2006
- Paramount Vantage – formed from a merger with Paramount Classics; inactive since 2013
- DW Studios, LLC (DreamWorks) – defunct; film rights sold and reacquired between 2005 and 2010
- Go Fish Pictures – arthouse and independent film division; closed in 2007 following parent company sale
- Paramount Theatres Limited – UK cinema chain established in 1930; sold to Rank Organisation in 1939 and renamed Odeon Cinemas
- Epix (now MGM+) – held a 49.76% stake alongside MGM and Lionsgate from 2009 until its sale to MGM in 2017
- Insurge Pictures – micro-budget film division operating from 2010 to 2015; later absorbed into Paramount
- Republic Pictures
- Rede Telecine – jointly owned with Amazon’s MGM, Disney Latin America, Grupo Globo’s Canais Globo, and Comcast’s Universal Pictures
Additional Ventures
In March 2012, Paramount extended its brand by licensing its name and emblem to a luxury hotel investment consortium, resulting in the creation of Paramount Hotels and Resorts. The initiative aimed to establish 50 properties worldwide, each inspired by Hollywood glamour and the California lifestyle, incorporating amenities like private screening rooms and in-room access to the Paramount film archive. In April 2013, Paramount Hotels collaborated with DAMAC Properties, a Dubai-based developer, to launch their inaugural resort project titled "DAMAC Towers by Paramount."
Logo
The renowned Paramount mountain emblem, recognized as the longest-standing Hollywood film logo still in use, has experienced numerous transformations since its debut. Originally adorned with 24 stars symbolizing contracted performers, it has been redesigned multiple times to align with technological advancements and changes in corporate ownership:
- Jan Domela crafted a matte painting version in 1951.
- The 1953 redesign accommodated 3D film presentations and was subsequently adapted for VistaVision widescreen format in 1954.
- By 1968, the star count was decreased to 22; corporate identifiers such as "A Gulf+Western Company" appeared following acquisitions.
- The simplified blue logo introduced in 1975 became a durable design employed across various platforms.
- A black-and-white variant was utilized in the 1980 film Popeye.
December 1986 saw the debut of a CGI-enhanced logo featuring stars arcing above a lake and mountain scene, created by Dario Campanile and animated by Flip Your Lid Animation. This iteration was further refined in 1999 with advanced CGI elements first showcased in South Park: Bigger, Longer & Uncut.
In 2002, BUF Compagnie updated the logo with falling stars forming the arc as the mountain flew into view. An upgraded version premiered alongside Iron Man 2 (2010), drawing inspiration from Mount Everest’s south col region. The classic fanfare "Paramount on Parade" was briefly reintroduced.
For its centennial celebration in December 2011, Paramount revealed a new animated logo developed by Devastudios using Terragen and Autodesk Maya. This edition includes a panoramic mountain range and sunrise backdrop, accompanied by a fanfare composed by Michael Giacchino. His musical theme was extended across affiliated Paramount entities such as Paramount Players, Animation, Television Studios, and Paramount Network Original Productions.
Following ViacomCBS’s rebranding to Paramount Global in 2022, the term "Pictures" was reinstated on printed materials and merchandise. However, on-screen branding now simply displays "Paramount," omitting former corporate taglines.
This progressive evolution of the logo underscores Paramount’s strategic branding leadership within the entertainment sector, strengthening its global market presence and corporate identity.
Studio Tours
Paramount Studios provides a two-hour Studio Tour that highlights active sound stages where iconic films such as Samson and Delilah, Sunset Blvd., and Breakfast at Tiffany's were filmed. The backlot includes New York City-inspired façades like "Washington Square" and the "Financial District." Moreover, the After Dark Tour features an excursion to Hollywood Forever Cemetery.
Film library
After the 1948 Supreme Court decision in United States v. Paramount Pictures, Inc., MCA purchased a collection of 750 Paramount sound films produced before 1949 for $50 million. To manage their television distribution, MCA established EMKA, Ltd. This archive boasts significant works including the Marx Brothers’ comedies and renowned classics such as Trouble in Paradise, Double Indemnity, and The Lost Weekend.
Paramount’s cinematic catalog encompasses critically celebrated films like Titanic, Braveheart, The Truman Show, Psycho, and Forrest Gump. Additionally, it holds prominent franchises such as The Godfather, Star Trek, and Mission: Impossible. These properties play a pivotal role in reinforcing the studio’s prominence and profitability within the entertainment sector.
Film series
|'Shrek' |'2007–2011' |'Distribution only; Co-produced with DreamWorks Animation' |'Transformers' |'2007–present' |'7' |'Co-produced with DreamWorks Pictures, and Hasbro' |'Paranormal Activity' |'Cloverfield' |'2008–present' |'3' |'Kung Fu Panda' |'2008–2011' |'2' |'Distribution only; Co-produced with DreamWorks Animation' |'Madagascar' |'2008–2012' |'Marvel Cinematic Universe' |'2008–2013' |'6' |'Distribution only; Co-produced with Marvel Entertainment, Marvel Studios' '|Watchmen ' '|2009–2024 ' '|3 ' '| International distributor; co-produced with Warner Bros. Pictures and DC Studios ' '|G.I. Joe ' '|2009–present ' '| ' '| ' '|Teenage Mutant Ninja Turtles ' '|2014–present ' '| ' '| Co-produced with Nickelodeon Movies ' '|Terminator ' '|2015–2019 ' '|2 ' '| Co-produced with Skydance, 20th Century Fox, and Tencent Pictures ' '|A Quiet Place ' '|2018–present ' '|3 ' '| Co-produced with Platinum Dunes, Sunday Night Productions ' '|Dora the Explorer ' '|2019–present ' '|2 ' '| Co-produced with Nickelodeon Movies, Walden Media, and Media Rights Group ' '|Sonic the Hedgehog ' '|2020–present ' '|3 ' '| Co-produced with Sega Sammy Group, Original Film, and others ' '|PAW Patrol ' '|2021–present ' '| ' '| Co-produced with Nickelodeon Movies, Spin Master Entertainment ' '|Scream ' '|2022–present ' '| ' '| Co-produced with Spyglass Media Group '| Title | Release date | No. Films | Notes | |
|---|---|---|---|---|
| Sophie Lang | 1934–1937 | 3 | ||
| Hopalong Cassidy | 1935–1941 | 41 | ||
| Bulldog Drummond | 1937–1939 | 3 | ||
| The Aldrich Family | 1939–1944 | 11 | ||
| Road to ... | 1940–1952 | 6 | ||
| The War of the Worlds | 1953–2005 | 2 | ||
| Love Story | 1970–1978 | |||
| The Godfather | 1972–1990 | 3 | ||
| Charlotte's Web | 1973–2003; 2006 | |||
| Bad News Bears | 1976–2005 | 4 | ||
| Peanuts | 1977–1980 | 2 | ||
| Grease | 1978–1982 | 2 | ||
| Star Trek | 1979–present | 13 | ||
| Friday the 13th | 1980–1989; 2009 | 12 | Co-produced with Warner Bros. Pictures and New Line Cinema | |
| Indiana Jones | 1981–2023 | 5 | Distribution only; co-produced with Lucasfilm | |
| Beverly Hills Cop | 1984–1994 | 3 | ||
| Footloose | 1984–2011 | 2 | ||
| Crocodile Dundee | 1986–2001 | 3 | ||
| Top Gun | 1986–present | 2 | ||
| The Naked Gun | 1988–present | 4 | ||
| Coming to America | 1988–2021 | 2 | ||
| Jack Ryan | 1990–present | 5 | ||
| The Addams Family | 1991–1993 | 2 | Co-produced with Scott Rudin Productions, Columbia Pictures, and Orion Pictures | |
| Mission: Impossible | 1996–2025 | 8 | ||
| Rugrats | 1998–2003 | 3 | Co-produced with Nickelodeon Movies | |
| Lara Croft: Tomb Raider | 2001–2003 | 2 | ||
| Jackass | 2002–present | 6 | ||
| SpongeBob SquarePants | 2004–present | 4 | Co-produced with Nickelodeon Movies and United Plankton Pictures Inc. | |
| Mean Girls | 2004–2024 | rowspan=2 3 | ||
| '\'\'Smile\'\ | '2022–present' | '2' | 'Co-produced with Temple Hill Entertainment' |
Highest-grossing films
Template:Double dagger — Includes theatrical re-release(s) Latino and Hispanic representationOn July 31, 2018, Paramount was criticized by both the National Hispanic Media Coalition (NHMC) and the National Latino Media Council for having the lowest rates of Latino and Hispanic talent engagement in both on-screen roles and behind-the-scenes positions. The studio’s most recent film helmed by a Spanish director was ‘’Rings’’ released in 2017. Paramount responded by reaffirming its dedication to fostering diversity under new executive leadership while citing forthcoming releases such as ‘’Dora and the Lost City of Gold’’, ‘’Instant Family’’, and ‘’Bumblebee’’ as indicators of enhanced Latino inclusion. On August 25, NHMC organized a demonstration at Paramount’s studio lot where over sixty participants advocated for greater representation. NHMC president Alex Nogales committed to maintaining the boycott until a formal agreement was reached. A subsequent protest took place on October17 involving seventy-five attendees who presented a petition signed by more than twelve thousand individuals to then-CEO Jim Gianopulos. These protests brought to light ongoing difficulties within Paramount’s diversity initiatives and their repercussions on public perception as well as talent recruitment within Latino communities. See alsoNotes
References
Further reading
External links
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