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Skydance CEO Ellison explains Paramount's tech-media hybrid approach

Media and Entertainment

Skydance CEO explains Paramount tech approach

Paramount Global's unique business approach was outlined by Skydance Media CEO David Ellison on Monday.

Ellison cited Steve Jobs as a mentor who influenced his viewpoint on the nexus between technology and art during an hour-long presentation to the financial community following the announcement of a merger agreement with Paramount. Jobs was the late co-founder of Apple and the head of Pixar Animation Studios.

Ellison quoted a favorite quotation from Steve Jobs when he stated that "the art challenges the technology, and the technology challenges the art." He continued by saying that they felt that in order to meet this time, it was imperative to comprehend the symbiotic relationship between art and technology.

The century-old Paramount, whose origins date back to the silent film era, and Skydance, a media business founded in 2010 to capitalize on the expansion of streaming media, merged with the primary goal of positioning the company to better meet the demands of a changing market. Ellison talked on the use of artificial intelligence in the Paramount+ streaming service, among other changes.

According to Ellison, several technology companies are entering the media space at a rapid pace. He continued by saying that they thought it was imperative that Paramount be able to increase its technological capabilities and function as a media and technology company.

In an effort to encourage customers to stay on the streaming service longer and reduce the number of cancellations, Ellison promised investors he would try to enhance the algorithmic recommendation engines used by Paramount+.

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