Yes there is. Run a custom report (no need to select many fields: First name + Last name are selected by default), once the report has run (wait for confirmation email) go back into Reporting, click on the "Create as Group" option, name your group something like "All Contacts as at dd/mm/yyyy". Then run an Update Many on that new group to contact preference as you require.

To find out how to run an Update Many - simply click here to read more!