Paramount+ Domestic and Showtime chief marketing officer Michael Engleman is set to exit Paramount Global later this month. The executive announced his departure in an internal memo to staff on Tuesday.
“In notes like this, often we describe our time together as an honor and privilege. And in this case, it’s truly been just that,” Engleman wrote. “Serving as the CMO to both Paramount+ Domestic and SHOWTIME has been the honor. The privilege, however, has been working alongside you, with all your boundless imagination and creativity, and your inspiring capacity for excellence.”
Engleman’s exit comes after he was promoted to his current role in May 2023 ahead of the integration of Showtime into Paramount+. Prior to that, he served as CMO and global brand director of Showtime and chief marketing officer of TBS and TNT.
As CMO of Paramount+ Domestic and Showtime, he oversees consumer marketing, strategy, partnerships, lifecycle marketing, customer care, social and creative execution for all U.S. campaigns and reports directly to Paramount Streaming chief marketing officer Domenic DiMeglio.
“For me, this marks the end of my third chapter at Paramount as I actually started my career at MTV many years ago. The place keeps drawing me back,” Engleman’s memo continued. “While many things in this white-water-raft-ride of a business have changed, there’s one very important thing that has remained a constant. Paramount is a place that encourages visionaries to take smart risks and do incredible things. I’m excited to see how you carry that spirit into the future. I’ll be cheering for you from afar, grateful to have been arm and arm for as long as we were. Thank you for the incredible work, and more importantly, the friendships.”
Englemen will not be replaced. Instead, his responsibilities will be passed on to other executives within the company.
The move comes as Paramount Global’s co-CEOs Brian Robbins, Chris McCarthy and George Cheeks have embarked on a long-term strategic plan, which includes streaming partnerships, divesting assets and $500 million in cost cuts.
At an employee town hall in June, the trio revealed that work was already underway to transform the cost base of the company in areas such as legal and corporate marketing, though they declined to offer a specific timeline or how many employees would be impacted when asked during the event’s Q&A portion.
The executives also said they are advancing talks with potential partners to “significantly transform the scale and economics” of its streaming business in international markets and that they’ve hired bankers to assist with identifying possible assets that could be sold. Four individuals familiar with the matter previously told TheWrap that possible assets that could be put up for sale include Pluto TV, BET, VH1 and the Paramount lot, which would then be leased back for the studio’s use.
Paramount also raised prices on its Paramount+ with Showtime and Paramount+ Essential tiers as it looks to accelerate streaming profitability, which it is currently aiming to reach domestically in 2025.
In July, Paramount’s controlling shareholder Shari Redstone struck an $8 billion merger deal with David Ellison’s Skydance Media, which will see the latter acquire her holding company National Amusements before merging with the Hollywood studio. That deal is expected to close in the third quarter of 2025, subject to regulatory approval and other customary closing conditions.
Robbins, McCarthy and Cheeks will address Wall Street on Paramount’s second quarter earnings call on Thursday.
Read Engleman’s full memo to staff, below:
Hi team.
I’ve got news. Later this month I will leave Paramount Global, bringing this incredibly fortunate – and might I add – wildly fun chapter of my career to a bittersweet close.
In notes like this, often we describe our time together as an honor and privilege. And in this case, it’s truly been just that. Serving as the CMO to both Paramount+ Domestic and SHOWTIME has been the honor. The privilege, however, has been working alongside you, with all your boundless imagination and creativity, and your inspiring capacity for excellence.
In the face of incredible change, your ingenuity was rocket-fuel that propelled great brands and new businesses. Launching new hit titles like Yellowjackets or The Chi? No problem, you crushed it. Sending-off venerable trailblazers, like Homeland, Billions, Shameless? You made an art form out of it. Create streaming juggernauts out of Super Bowl LVIII or Champions League? Yep, also you. Break a few subscription-records with reimaginations like Dexter, Halo or Frasier…no problem. You get the point. You’re special. From the commerce to the art, you’ve always founds ways to beat the odds.
And I’ve no doubt you will continue to win.
For me, this marks the end of my third chapter at Paramount as I actually started my career at MTV many years ago. The place keeps drawing me back. While many things in this white-water-raft-ride of a business have changed, there’s one very important thing that has remained a constant. Paramount is a place that encourages visionaries to take smart risks and do incredible things.
I’m excited to see how you carry that spirit into the future.
I’ll be cheering for you from afar, grateful to have been arm and arm for as long as we were.
Thank you for the incredible work, and more importantly, the friendships.
Best, Michael
Chief Marketing Officer
Paramount+ Domestic and SHOWTIME
