Paramount’s Jim Gianopulos on Why Profitability Is Only the First Step to Rebuild the Studio

“Being profitable is a good thing; being profitable at the level we should be is the next step,” Paramount Pictures chief Jim Gianopulos says

Jim Gianopulos has not had a particularly easy job since taking over as CEO of Paramount Pictures in 2017 — one year after the once-iconic studio had lost more than $450 million.

“Looking back that was about as dark as it gets, particularly for a major studio,” Gianopulos said Wednesday at Bank of America Merrill Lynch’s annual media and entertainment conference. “We’ve just, basically for the first year in now four, been able to make a profit. Being profitable is a good thing; being profitable at the level we should be is the next step.”

How does Gianopulos reach that next step? Well, a dive into the studio’s recent box office successes and its coming slate of films provides a glimpse at that answer.

The Paramount rebounding narrative really took hold last year with box office hits such as “Mission: Impossible — Fallout” ($791.1 million) and “A Quiet Place” ($340.9 million). And Paramount released 10 films, with box office contribution from two 2017 holdovers.

That’s been a shift in the studio’s strategy and an important one to help it succeed, according to Gianopulos.…

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Trey Williams

Film Reporter covering the biz • trey.williams@thewrap.com • Twitter: @trey3williams