NB: With your promotion to president of global consumer products and experiences in 2021, you added themed entertainment to your purview. Can you talk about how that plays into our portfolio?
PK: Within our themed entertainment portfolio is a wide group of organizations, people and businesses spanning hotels, theme parks, live tours, resorts, stage shows, conventions and more.
First and foremost, from a business perspective, we don't build things—we license. It made tremendous sense for us to combine the licensing of our live experiences and our themed entertainment group with the licensing of consumer products. Our consumer products team knows the Paramount portfolio front and back, and there has been a huge benefit in sharing that knowledge of our IP across the themed entertainment team.
We also have an incredibly strong global infrastructure with teams on the ground in markets around the world. The close relationships our teams have built with local hotel operators, etc., have proven to be incredibly helpful in expanding our portfolio.
NB: Are there plans to license more?
PK: The themed entertainment team has done an amazing job in the last year. We have an explosion of deals happening across many brands, including Nickelodeon, MTV Entertainment properties and Paramount Pictures.
NB: Are there any products or brands that had surprising success?
PK: SpongeBob was a show that we never thought would translate well into consumer products. When I was at Nickelodeon, we were able to preview some of the upcoming shows. The first episode of SpongeBob I ever watched was the “Bubble Buddy” episode. We all sat there with pure joy, amazement, and confusion. While I don't believe you can ever truly say, ‘this is going to be a global phenomenon,’ there was definitely a collective acknowledgment that what we just watched was special. Of course, the show emerged as one of the biggest fashion darlings in our entire portfolio. Over 25 of the biggest companies in the world have partnered with SpongeBob since.