A New Window of Opportunity for Viacom Case Study

A New Window of Opportunity for Viacom - Case Study Example In the USA, the cable networks industry makes revenue of around $ 56 billion with a 1.7 % growth over the past five years (Ibisworld, 2014). This paper is based on the cable networks and broadcast industry with particular focus on the marketing strategies of Viacom. It includes the strategies of the company to operate in the international market and to strengthen its core competencies. Â  Viacom is a TV broadcast and cable networks company, headquartered in New York. It owns some of the best-known television brands like MTV, Nickelodeon, VH1, Comedy Central, etc. Viacom also owns Paramount, which is one of the world’s largest media entertainment brands (Viacom, 2014a). The strategic planning of the company focuses on becoming the industry leading broadcasting company, which focuses on catering to its customers by developing new brands and enhancing the existing ones on a multiplatform strategy (Viacom, 2014b). Over the years Viacom has expanded itself by taking several tactical strategies so as to meet its long-term goals to expand itself in the media entertainment industry. In 1983, Viacom made its first major strategic move by establishing a joint venture with Warner Communication. In the next few years, the company eventually acquired the MTV networks. Acquisition of the MTV brand gave Viacom a major financial boost. It also made Viacom an attractive bus iness partner for other bigger companies; as a result in 1987, almost 87 % of Viacom was acquired by National Amusements with a financial consideration of $ 3.4 billion. Keeping in mind the high popularity of MTV, the company decided to introduce MTV in Europe. In 1994, Viacom made another major acquisition by taking over Paramount Communications with $ 9.9 billion. As a result, the company diversified into the movie production industry.