New Paramount Bosses Lay Out Priorities: ‘Top Gun 3,’ ‘Star Trek,’ ‘World War Z,’ Redefining Cable Channels

After years of underinvestment and poor leadership, the Paramount properties are getting a fresh look from their new owners. After new CEO David Ellison cracked open the checkbook to grab the next 7 years of UFC for $7.7 billion, his attention is turning to the movie and TV assets. Here’s what we can expect in theaters, on Paramount+, and on the iconic channels Paramount controls.

Paramount+ Priorities

Ellison name-checked the popular force behind the “Yellowstone” franchise and most Paramount+ original hits: Taylor Sheridan. “He is literally a singular genius with a perfect track record,” Ellison said. “If we can make this his home as long as he wants to tell stories, we want to do that.”

New Paramount+ boss Cindy Holland said her focus is on series over films. “Streaming movies are not a priority for me,” Holland said. During her time with Netflix, Holland brought in important series like “The Crown” and “Orange is the New Black.”

“We want to entertain all audiences around the world on Paramount+,” Holland said. “And for that to happen, the menu of content has to be expanded beyond current options. We’re seeking to expand that and make sure that we’re offering programming for everybody, not just occasionally and not just for the one thing they want to come back for.”

Industry insiders say Holland is throwing out a big offer to steal the Duffer Brothers, creators of “Stranger Things,” from Netflix.

Company leaders said they’d also take a look at which franchises belong on linear TV, which should stick with theatrical films, and which should shift to streaming.

The Big Screen

The new Paramount Pictures studio will have co-chairs Dana Goldberg and Josh Greenstein. They plan to release 15 theatrical pictures every year before bumping that up to 20.

The first movie to get the green light is Timothée Chalamet the James Mangold project “High Side.” Paramount execs say they’ll work on building out a slate of originals like that.

The studio plans to lean into franchises like “Star Trek,” “Top Gun,” and “World War Z,” either with direct sequels or reboots. Other franchises like “Transformers,” “G.I. Joe,” and “Terminator” will get some love after their big-screen stumbles.

Paramount also intends to focus on family films along the lines of “The Goonies” or “Night at the Museum.” “We’re going to run towards those movies,” Goldberg said.

Transforming TV

Paramount has some of the most important cable channels, but those have been ignored in recent years. Unlike competitors, Paramount plans to invest in their channels: BET, CMT, Comedy Central, Logo, MTV, Nickelodeon, Paramount Network, Pop, Smithsonian, TV Land, VH1, and Showtime

New chairman of TV media George Cheeks said, “We’re all seeing the pay cable business shift over to streaming, so there will be a lot of conversations about what iconic franchises we want to continue, maybe shift to streaming, etc.,” he said. “We’re [six] days in, but I do feel like there’s a lot to preserve there.”

The initial word is that Paramount wants to reinvent those channels instead of selling them for scrap. Of course, that may require significant investment at a time when all the numbers suggest linear TV is dying a slow death.