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Tag: Jeffrey Katzenberg

  • Jeffrey Katzenberg’s Quibi OTT makes quiet India launch

    Jeffrey Katzenberg’s Quibi OTT makes quiet India launch

    MUMBAI: Almost silently, without any hoopla or noise, the $1.75 billion-funded, Jeffrey Katzenberg-promoted short video streaming service Quibi made its debut in India on 6 April. Launched in the thick of the CoVid-2019 pandemic, Quibi, which is short for Quick bites, has a price point of Rs 699 a month for the ad-free service and is available for consumption only on smartphones.

    Interested viewers can download it from the Google Play stores and the Apple store and try it free for 90 days before they have to cough up the monthly fee. (The US version has two services ad-loaded at $4.99, and ad-free at $7.99 a month.)

    The app’s promise is that it has no long-form catalogue movies or shows; every piece of content on it is 10 minutes or less and almost every one of them is an original.

    The app launched with 50 shows, but the idea is to launch fresh content every week to take the catalogue up to 175. The slate covers everything from drama to comedy to documentaries to news to sports. On its launch day, Quibi saw over 300,000 downloads.

    The big plus of Quibi is its turnstile feature which allows viewers to seamlessly switch between landscape and vertical portrait views without affecting the viewing experience. In fact, each show is edited keeping these two views in mind and two streams are delivered.

    Former eBay boss Meg Whitman, who is the CEO of Quibi, stated at CES in Las Vegas in January that as compared to YouTube and platforms where shows were being made at $200 or $5,000 a minute, the spends on her service were $100,000 for a minute of content, speaking highly about its quality and the makers.

    In a LinkedIn post, Whitman said, “Quibi was created to entertain, inform, and inspire by reimagining the way mobile users consume premium video content on their phones. The world is a very different place today than it was even two weeks ago. It is our hope that Quibi will provide a small moment of laughter, inspiration, or information during this unprecedented moment in our lives. I am so proud of the hard work of the entire Quibi team who have poured their hearts into building this new technology platform from the ground up. And, thank you to everyone who has made this possible, from our incredible content creators to our outstanding brand partners.”

    Among the top-notch creators who have been signed on for the service include: Steven Spielberg, Guillermo del Torro, Lena Waithe and Catherine Hardwick. This apart, there are special news shows being readied for it by NBC, BBC and Entertainment Weekly. Some of the shows which were trending on Quibi at the time of writing included: Most Dangerous Game, punk’d, Chrissy’s Court, The Report by NBC News, Fierce Queens, Shape of Pasta, Survive, Flipped, Thanks a Million, When the Streetlights Go on, etc.

    During CES, Katzenberg and Whitman had stated that the service was for consumption on the go, during metro commutes, lunch or tea breaks or when someone had 10 minutes or less to spend on entertainment. With most consumers at home in many nations courtesy the COVID-2019 lockdown, the duo can be sure that viewers during the trial period will probably consume way beyond that.

  • Q1-16-Televison, Consumer Products, New Media drive up DreamWorks Animation numbers

    Q1-16-Televison, Consumer Products, New Media drive up DreamWorks Animation numbers

    BENGALURU: DreamWorks Animation SKG Inc., (DWA) reported 14.4 percent year-over-year (y-o-y) growth in revenue for the quarter ended 31 March 2016 (Q-16, current quarter) The company reported revenue of $190.44 million in Q1-16 as compared to $106.17 million in the corresponding year ago quarter. Further, it reported net income attributable to DWA of $13.84 million in the current quarter as compared to a loss of $54.78 million in Q1-15. The growth in revenue was driven by performance in the Television Series and Specials, Consumer Products and New Media segments.

    “I am happy to report another strong quarter of financial results, which I believe reflect continued execution on our strategy of transitioning DreamWorks Animation into a global family entertainment company,” said DWA CEO Jeffrey Katzenberg, “I’m excited to be passing the baton to Comcast, as I know they will continue to build on the foundation we’ve established over the past 22 years.”

    On April 28, 2016 NBCUniversal, a division of Comcast Corporation, announced the acquisition of DreamWorks Animation. The transaction is expected to close by the end of 2016, subject to receipt of regulatory approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions. Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA.  Katzenberg will also serve as a consultant to NBCUniversal.

    Note: Beginning in the quarter ended 31 March 2016, DWA says that it has changed the method by which intellectual property costs are charged to the Consumer Products segment to provide better comparability to peers and to be similar to the method used in the Television Series and Specials segment while minimizing segment volatility. As a result, the Consumer Products segment no longer bears amortization of capitalized production costs for the use of Film and TV segment intellectual property. Instead, the Consumer Products segment is charged a royalty fee which will compensate the originating segment for the use of intellectual property. There is no change to DWA’s consolidated financials, as DWA’s ultimate revenues and the amortization of capitalized production costs remain unchanged. This methodology impacts segment reporting only. All prior-year period figures have been updated to reflect this new methodology, says the compny.

    Segment numbers
    Feature Films segment

    Feature Films segment’s revenues for Q1-16 declined 26.7 percent to $94.3 million, compared to $128.7 million in Q1-15. Revenues in the  current quarter were favourably impacted by the worldwide pay television distribution of How to Train Your Dragon 2 and Mr. Peabody and Sherman, higher home entertainment sales and recoveries of $6.3 million from previously established home entertainment reserves related to sales through DWA’s former primary theatrical distributor. Segment gross profit for Q1-16 of $26.1 million was 31.5 percent lower compared to $38.1 million in the prior-year period.

    Television Series and Specials segment

    Revenues for Q1-16 from the Television Series and Specials segment more than tripled (3.14 times) to $57.0 million, compared to $18.1 million during the corresponding prior-year period. DWA says that the increase in revenues was attributable to a significantly higher number of episodes delivered under its episodic content licensing arrangements. Segment gross profit in the current quarter increased six-fold to $21.1 million from $3.5 million in Q1-15. The increase was primarily driven by higher revenues and lower marketing expenses, says DWA.

    Consumer Products segment

    Revenues from DWA’s Consumer Products segment increased 50 percent y-o-y in Q1-16 to $21.4 million, compared to $14.3 million in the same period last year. DWA says that the increase was primarily due to revenues earned from location-based entertainment initiatives during the current quarter. Revenue for both the current and prior year quarters also included contributions from merchandise licensing arrangements. Segment gross profit increased 60 percent y-o-y to $15.0 million in the current quarter from $9.4 million in the prior-year period.

    New Media segment

    Revenues from DWA’s New Media segment more than tripled  (3.3 times) in Q1-16 to $15.2 million compared to $4.6 million during Q1-15. This increase was primarily attributable to revenue generated from licensing and distribution of content and to a lesser extent, brand sponsorship and talent management arrangements says DWA. Segment gross profit for Q1-16 also more than tripled (3.1 times) to $6.5 million from $2.1 million in the prior-year period, primarily due to higher revenues.

  • Q1-16-Televison, Consumer Products, New Media drive up DreamWorks Animation numbers

    Q1-16-Televison, Consumer Products, New Media drive up DreamWorks Animation numbers

    BENGALURU: DreamWorks Animation SKG Inc., (DWA) reported 14.4 percent year-over-year (y-o-y) growth in revenue for the quarter ended 31 March 2016 (Q-16, current quarter) The company reported revenue of $190.44 million in Q1-16 as compared to $106.17 million in the corresponding year ago quarter. Further, it reported net income attributable to DWA of $13.84 million in the current quarter as compared to a loss of $54.78 million in Q1-15. The growth in revenue was driven by performance in the Television Series and Specials, Consumer Products and New Media segments.

    “I am happy to report another strong quarter of financial results, which I believe reflect continued execution on our strategy of transitioning DreamWorks Animation into a global family entertainment company,” said DWA CEO Jeffrey Katzenberg, “I’m excited to be passing the baton to Comcast, as I know they will continue to build on the foundation we’ve established over the past 22 years.”

    On April 28, 2016 NBCUniversal, a division of Comcast Corporation, announced the acquisition of DreamWorks Animation. The transaction is expected to close by the end of 2016, subject to receipt of regulatory approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions. Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA.  Katzenberg will also serve as a consultant to NBCUniversal.

    Note: Beginning in the quarter ended 31 March 2016, DWA says that it has changed the method by which intellectual property costs are charged to the Consumer Products segment to provide better comparability to peers and to be similar to the method used in the Television Series and Specials segment while minimizing segment volatility. As a result, the Consumer Products segment no longer bears amortization of capitalized production costs for the use of Film and TV segment intellectual property. Instead, the Consumer Products segment is charged a royalty fee which will compensate the originating segment for the use of intellectual property. There is no change to DWA’s consolidated financials, as DWA’s ultimate revenues and the amortization of capitalized production costs remain unchanged. This methodology impacts segment reporting only. All prior-year period figures have been updated to reflect this new methodology, says the compny.

    Segment numbers
    Feature Films segment

    Feature Films segment’s revenues for Q1-16 declined 26.7 percent to $94.3 million, compared to $128.7 million in Q1-15. Revenues in the  current quarter were favourably impacted by the worldwide pay television distribution of How to Train Your Dragon 2 and Mr. Peabody and Sherman, higher home entertainment sales and recoveries of $6.3 million from previously established home entertainment reserves related to sales through DWA’s former primary theatrical distributor. Segment gross profit for Q1-16 of $26.1 million was 31.5 percent lower compared to $38.1 million in the prior-year period.

    Television Series and Specials segment

    Revenues for Q1-16 from the Television Series and Specials segment more than tripled (3.14 times) to $57.0 million, compared to $18.1 million during the corresponding prior-year period. DWA says that the increase in revenues was attributable to a significantly higher number of episodes delivered under its episodic content licensing arrangements. Segment gross profit in the current quarter increased six-fold to $21.1 million from $3.5 million in Q1-15. The increase was primarily driven by higher revenues and lower marketing expenses, says DWA.

    Consumer Products segment

    Revenues from DWA’s Consumer Products segment increased 50 percent y-o-y in Q1-16 to $21.4 million, compared to $14.3 million in the same period last year. DWA says that the increase was primarily due to revenues earned from location-based entertainment initiatives during the current quarter. Revenue for both the current and prior year quarters also included contributions from merchandise licensing arrangements. Segment gross profit increased 60 percent y-o-y to $15.0 million in the current quarter from $9.4 million in the prior-year period.

    New Media segment

    Revenues from DWA’s New Media segment more than tripled  (3.3 times) in Q1-16 to $15.2 million compared to $4.6 million during Q1-15. This increase was primarily attributable to revenue generated from licensing and distribution of content and to a lesser extent, brand sponsorship and talent management arrangements says DWA. Segment gross profit for Q1-16 also more than tripled (3.1 times) to $6.5 million from $2.1 million in the prior-year period, primarily due to higher revenues.

  • NBCUniversal announces Dreamworks Animation acquisition

    NBCUniversal announces Dreamworks Animation acquisition

    MUMKBAI: NBCUniversal announced the acquisition of DreamWorks Animation (NASDAQ: DWA).
     One of the world’s most admired family brands, DreamWorks Animation creates animated feature films, television series and specials, live entertainment and related consumer products. The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.

    “DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, CEO of NBCUniversal. “Jeffrey Katzenberg and the DreamWorks organization have created a dynamic film brand and a deep library of intellectual property. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come. We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous. We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future.”

    Under the terms of the agreement, DreamWorks Animation has an equity value of approximately $3.8 billion. DreamWorks Animation stockholders will receive $41 in cash for each share of DreamWorks Animation common stock. The agreement has been approved by the boards of directors of DreamWorks Animation and Comcast, and the controlling shareholder of DreamWorks Animation has approved the agreement by written consent.

    The transaction is expected to close by the end of 2016, subject to receipt of antitrust approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions.

    Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.

    “Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversalis the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential,” said Katzenberg. “This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business. As for my role, I am incredibly excited to continue exploring the potential of AwesomenessTV, NOVA and other new media opportunities, and can’t wait to get started.”

    The acquisition gives NBCUniversal broader reach to a host of new audiences in the highly competitive kids and family entertainment space, in both TV and film. It includes popular DreamWorks Animation film franchise properties, such as Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon. It also includes a thriving TV operation that is a significant supplier of family programming, with hundreds of hours of original, animated content distributed across linear and SVOD platforms in more than 130 countries. Additionally, DreamWorks Classics, a large library of classic characters, including Where’s Waldo, and Rudolph the Red-Nosed Reindeer, will become part of the NBCUniversal portfolio, along with a successful consumer products business.

    Comcast was advised by Davis Polk & Wardwell LLP on legal matters. DreamWorks Animation was advised on financial matters by Centerview Partners and on legal matters byCravath, Swaine & Moore LLP. DreamWorks Animation’s Board of Directors was advised on legal matters by Munger Tolles & Olson LLP.

  • NBCUniversal announces Dreamworks Animation acquisition

    NBCUniversal announces Dreamworks Animation acquisition

    MUMKBAI: NBCUniversal announced the acquisition of DreamWorks Animation (NASDAQ: DWA).
     One of the world’s most admired family brands, DreamWorks Animation creates animated feature films, television series and specials, live entertainment and related consumer products. The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.

    “DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, CEO of NBCUniversal. “Jeffrey Katzenberg and the DreamWorks organization have created a dynamic film brand and a deep library of intellectual property. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come. We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous. We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future.”

    Under the terms of the agreement, DreamWorks Animation has an equity value of approximately $3.8 billion. DreamWorks Animation stockholders will receive $41 in cash for each share of DreamWorks Animation common stock. The agreement has been approved by the boards of directors of DreamWorks Animation and Comcast, and the controlling shareholder of DreamWorks Animation has approved the agreement by written consent.

    The transaction is expected to close by the end of 2016, subject to receipt of antitrust approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions.

    Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.

    “Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversalis the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential,” said Katzenberg. “This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business. As for my role, I am incredibly excited to continue exploring the potential of AwesomenessTV, NOVA and other new media opportunities, and can’t wait to get started.”

    The acquisition gives NBCUniversal broader reach to a host of new audiences in the highly competitive kids and family entertainment space, in both TV and film. It includes popular DreamWorks Animation film franchise properties, such as Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon. It also includes a thriving TV operation that is a significant supplier of family programming, with hundreds of hours of original, animated content distributed across linear and SVOD platforms in more than 130 countries. Additionally, DreamWorks Classics, a large library of classic characters, including Where’s Waldo, and Rudolph the Red-Nosed Reindeer, will become part of the NBCUniversal portfolio, along with a successful consumer products business.

    Comcast was advised by Davis Polk & Wardwell LLP on legal matters. DreamWorks Animation was advised on financial matters by Centerview Partners and on legal matters byCravath, Swaine & Moore LLP. DreamWorks Animation’s Board of Directors was advised on legal matters by Munger Tolles & Olson LLP.

  • Verizon to acquire equity stake in AwesomenessTV; to create new service featuring short-form content

    Verizon to acquire equity stake in AwesomenessTV; to create new service featuring short-form content

    BENGALURU: Verizon today announced it has entered into an agreement to purchase an approximate 24.5 per cent stake in AwesomenessTV. Upon completion of this transaction, the AwesomenessTV multi-platform media company will be valued at approximately $650 million. DreamWorks Animation, which acquired AwesomenessTV in 2013, will remain the company’s majority stakeholder with an approximate 51 per cent ownership of outstanding shares, while Hearst will own the remaining 24.5 per cent. AwesomenessTV founder and CEO Brian Robbins and AwesomenessTV’s president Brett Bouttier will continue to lead AwesomenessTV.

    In addition to its equity investment, Verizon will enter into an agreement with AwesomenessTV to create a first-of-its-kind premium short-form mobile video service featuring leading talent in front of and behind the camera. The new service will operate as a new and independent brand, and feature premium transactional content for a variety of audiences on par with the highest-end content seen on television today. The new service will launch as part of the go90 offering and Verizon will fund the initiative through a multi-year agreement with AwesomenessTV.

    The new premium content service will initially be exclusive to Verizon platforms in the United States, while AwesomenessTV will retain the right to sell content in the rest of the world. In addition to the production resources, expertise and marketing know-how of the team at AwesomenessTV, the partners will draw upon the entire Hollywood community – studios, production companies, writers, directors and actors – for content creation.

    “In addition to delivering compelling scripted and non-scripted series with high production values, AwesomenessTV has demonstrated an ability to zero in on programming that Gen Z and millennials want to watch,” said Verizon executive vice president and president of Product & New Business Innovation, Marni Walden. “The content AwesomenessTV has produced for go90 has exceeded all our expectations with shows such as Guidance and Top Five Live. That’s why we want to be in the AwesomenessTV business.”

    “This deal gives us the resources to work with the biggest talent in front of and behind the camera to create this new branded service and produce the most premium short-form content ever, made specifically for the device racking up the fastest growing viewership – the mobile phone,” said AwesomenessTV’s Robbins. “With Verizon joining DreamWorks Animation and Hearst as part of our equity ownership group, we benefit from the strategic insight and resources of the entertainment and communications industries’ most visionary companies and leaders. Our goal is to be the media company of the future, where content and distribution go hand in hand – we are now one giant step closer to that future.”

    “The creation of this new branded service represents a transformational step, not just for AwesomenessTV, but also for the entire mobile video landscape,” said DreamWorks Animation CEO Jeffrey Katzenberg. “This agreement is clearly impactful for AwesomenessTV – with annual revenues expected to more than double in the first 12 months of content delivery – and even more exciting is the expansion of our relationship with Verizon, one of the world’s most powerful marketers and content distributors, and their commitment to explore with us this incredible opportunity.”

    LionTree Advisors LLC acted as advisor to Verizon during this transaction and J.P. Morgan Securities LLC advised DreamWorks Animation. The transaction is subject to customary closing conditions. The parties currently expect that the transaction will be completed within the next 60 days.

  • Verizon to acquire equity stake in AwesomenessTV; to create new service featuring short-form content

    Verizon to acquire equity stake in AwesomenessTV; to create new service featuring short-form content

    BENGALURU: Verizon today announced it has entered into an agreement to purchase an approximate 24.5 per cent stake in AwesomenessTV. Upon completion of this transaction, the AwesomenessTV multi-platform media company will be valued at approximately $650 million. DreamWorks Animation, which acquired AwesomenessTV in 2013, will remain the company’s majority stakeholder with an approximate 51 per cent ownership of outstanding shares, while Hearst will own the remaining 24.5 per cent. AwesomenessTV founder and CEO Brian Robbins and AwesomenessTV’s president Brett Bouttier will continue to lead AwesomenessTV.

    In addition to its equity investment, Verizon will enter into an agreement with AwesomenessTV to create a first-of-its-kind premium short-form mobile video service featuring leading talent in front of and behind the camera. The new service will operate as a new and independent brand, and feature premium transactional content for a variety of audiences on par with the highest-end content seen on television today. The new service will launch as part of the go90 offering and Verizon will fund the initiative through a multi-year agreement with AwesomenessTV.

    The new premium content service will initially be exclusive to Verizon platforms in the United States, while AwesomenessTV will retain the right to sell content in the rest of the world. In addition to the production resources, expertise and marketing know-how of the team at AwesomenessTV, the partners will draw upon the entire Hollywood community – studios, production companies, writers, directors and actors – for content creation.

    “In addition to delivering compelling scripted and non-scripted series with high production values, AwesomenessTV has demonstrated an ability to zero in on programming that Gen Z and millennials want to watch,” said Verizon executive vice president and president of Product & New Business Innovation, Marni Walden. “The content AwesomenessTV has produced for go90 has exceeded all our expectations with shows such as Guidance and Top Five Live. That’s why we want to be in the AwesomenessTV business.”

    “This deal gives us the resources to work with the biggest talent in front of and behind the camera to create this new branded service and produce the most premium short-form content ever, made specifically for the device racking up the fastest growing viewership – the mobile phone,” said AwesomenessTV’s Robbins. “With Verizon joining DreamWorks Animation and Hearst as part of our equity ownership group, we benefit from the strategic insight and resources of the entertainment and communications industries’ most visionary companies and leaders. Our goal is to be the media company of the future, where content and distribution go hand in hand – we are now one giant step closer to that future.”

    “The creation of this new branded service represents a transformational step, not just for AwesomenessTV, but also for the entire mobile video landscape,” said DreamWorks Animation CEO Jeffrey Katzenberg. “This agreement is clearly impactful for AwesomenessTV – with annual revenues expected to more than double in the first 12 months of content delivery – and even more exciting is the expansion of our relationship with Verizon, one of the world’s most powerful marketers and content distributors, and their commitment to explore with us this incredible opportunity.”

    LionTree Advisors LLC acted as advisor to Verizon during this transaction and J.P. Morgan Securities LLC advised DreamWorks Animation. The transaction is subject to customary closing conditions. The parties currently expect that the transaction will be completed within the next 60 days.

  • DreamWorks Animation to launch live-action TV unit; taps Katie O’Connell Marsh as head

    DreamWorks Animation to launch live-action TV unit; taps Katie O’Connell Marsh as head

    MUMBAI: DreamWorks Animation has appointed Katie O’Connell Marsh as head of global live-action television, a role in which she will oversee the expansion of DWA’s television business into the live-action genre. 

     

    Marsh will be based at the company’s Glendale headquarters and begin her duties in January 2016.

     

    “Television has quickly grown into one of our most successful businesses and, as the demand for kids and co-viewing content continues to rise, extending the DreamWorks Animation brand to live-action TV in a strategic and financially disciplined way will spur even further growth. Katie’s proven track record of developing hit live-action television programming, coupled with her success in quickly building television businesses from the ground up, makes her the perfect executive to lead us into this new genre,” said DreamWorks Animation CEO Jeffrey Katzenberg.

     

    “Our move into live-action will enable DWA to further capitalize on the evolving television landscape by creating new opportunities on both traditional and emerging platforms for our branded series. Moreover, live action will give us yet another creative lens with which to explore our library of rich storytelling and memorable characters that have resonated with audiences for the past two decades,” added DreamWorks Animation president Ann Daly. 

     

    “When Jeffrey and Ann approached me, I was impressed by the endless possibilities and unique specificity of the opportunities that lie ahead, as I have always admired the iconic and global DreamWorks Animation brand The existing library of brands, coupled with a desire for original content, makes this opportunity incredibly special. I look forward to working with Jeffrey, Ann and everyone at DWA,” said Marsh.

     

    Marsh joins DreamWorks Animation, having served since 2010 as the CEO of Gaumont International Television (GIT), a division of Gaumont SA she built from the ground up. Previously, she was an executive at NBC, where she first served as SVP of development in New York. Marsh was ultimately elevated to EVP of drama programming.

     

    Prior to NBC, Marsh was EVP of development and current programming at Imagine Television, where she developed numerous comedy and drama projects.

  • Q3-2015: Dreamworks Animation YoY revenue up 43% at $259.22 million

    Q3-2015: Dreamworks Animation YoY revenue up 43% at $259.22 million

    BENGALURU: DreamWorks Animation SKG Inc. (DWA) reported 43.3 per cent YoY revenue growth in the quarter ended 30 September, 2015 (Q3-2015, current quarter) at $259.22 million as compared to the $180.86 million, which was driven by performance across all operating segments.

     

    For Q3-2015, DWA posted adjusted operating income of $26.8 million. The increase in revenues and segment gross profit was partially offset by an increase in adjusted general and administrative expenses says DWA.

     

    “DreamWorks Animation delivered solid third quarter results, highlighted by strong top-line growth and meaningful segment gross profit across all of our businesses. While we still have considerable work ahead of us, I am proud of the team’s collective efforts and remain confident that we are well positioned to meet or even exceed our stated goals for the year while continuing to drive long term value for our stakeholders,” said DreamWorks Animation CEO Jeffrey Katzenberg.

     

    Segment Revenue

     

    Feature Film segment

     

    Revenues for Q3-2015 from the Feature Film segment increased to $157.9 million, up from $142.4 million in the prior-year period. Segment gross profit decreased to $54.3 million compared to $64.3 million in the same period of last year, primarily due to contributions earned in the prior-year period in the worldwide theatrical market from How To Train Your Dragon 2, which was a higher margin title.

     

    Home contributed feature film segment revenue of $49.7 million in Q3-2015. Home was released in the digital market on 26 June, 2015 and into the physical domestic home entertainment market on 28 July, 2015. The film reached an estimated 4.7 million home entertainment units through the end of the third quarter, net of actual and estimated future returns claims DWA.

     

    The Penguins of Madagascar contributed feature film segment revenue of $39.8 million in the current quarter, primarily from domestic and international pay television. Through the end of the third quarter, the film reached an estimated 3.6 million home entertainment units sold worldwide, net of actual and estimated future returns.

     

    How To Train Your Dragon 2 contributed feature film segment revenue of $7.4 million in the quarter, primarily from international pay television and home entertainment. The film reached an estimated 8.9 million home entertainment units sold worldwide through the end of the third quarter, net of actual and estimated future returns.

     

    Mr. Peabody and Sherman contributed feature film segment revenue of $2.6 million in the quarter, primarily from home entertainment. The film reached an estimated 4.2 million home entertainment units sold worldwide through the end of Q3-2015, net of actual and estimated future returns.

     

    Television Series and Specials segment

     

    Revenues for the quarter ended 30 September, 2015 from the Television Series and Specials segment increased to $50.7 million in Q3-2015, compared to $14.3 million during the prior-year period. The increase in revenues was attributable to a significantly higher number of episodes delivered under DWA’s episodic content licensing arrangements. Segment gross profit increased to $15.3 million in the current quarter, from $2.3 million in Q3-2014. The increase was primarily driven by higher revenues along with favourable amortisation rates associated with episodic series, partially offset by up-front marketing costs associated with the release of DWA’s new television series.

     

    Consumer Products segment

     

    Revenues from the Consumer Products segment increased to $27 million in Q3-2015, compared to $12.1 million in the same period last year. The increase was primarily due to revenues earned from new and extended location based entertainment license arrangements in the quarter, as well as merchandise licensing agreements related to intellectual property rights associated with characters from DWA’s feature films and episodic television series. Revenues also included contributions from merchandising and other licensing activities. Segment gross profit increased to $15.8 million in Q3-2015 from $4.2 million in Q3-2014, as revenues earned from location based entertainment license arrangements have lower associated costs.

     

    New Media Segment

     

    Revenues for Q3-2015 from the company’s New Media segment were $20.7 million compared to $8.5 million during Q3- 2014. This increase was primarily attributable to revenue generated from licensing and distribution of content and brand sponsorship arrangements. In Q3-2014, DWA reported certain advertising and talent management revenues in this segment on a ‘gross’  basis rather than on a ‘net’ basis. For comparative purposes, if the New Media segment’s revenues had been reported on a ‘net’ basis during Q3-2014, revenues for Q3-2015 would reflect an increase of 226 per cent compared with the prior-year period. Segment gross profit, which is not affected by this item, increased to $10.9 million from $2.3 million in the prior-year period, primarily due to higher revenue contributions from licensed content and reduced amortisation of intangible assets.

     

    All other segments

     

    Revenues from All Other segments for Q3-2015 were $2.9 million compared to $3.6 million in the prior-year period and gross profit was $2.4 million compared to a loss of $1.1million in Q3-2014.

  • DreamWorks Animation loses $38.6 million in Q2 due to restructuring

    DreamWorks Animation loses $38.6 million in Q2 due to restructuring

    MUMBAI: Including the impact of the restructuring plan, DreamWorks Animation SKG, Inc reported net loss attributable of $38.6 million, or $0.45 per share for the quarter ended 30 June, 2015. The company’s operating loss stood at $21.8 million.

     

    DreamWorks Animation’s revenues for the quarter ended 30 June, 2015 at $170.8 million, were up 39.7 per cent from the same period in 2014. In addition, the company reported an adjusted operating loss of $1 million and adjusted net loss attributable to DWA of $11.6 million.

     

    Adjusted financial results exclude a $20.9 million pre-tax charge associated with company’s restructuring plan announced in January 2015.

     

    Of the restructuring-related charges totaling $20.9 million or a loss of $2.4 million was due to employee termination and other employee-related costs, $10.9 million was related to accelerated depreciation and amortization charges associated with the closure of its Redwood City facility, and $7.6 million was primarily related to excess staffing and other costs associated with previously announced changes in the feature film slate.

     

    “Our second quarter financial results were solid, highlighted by the theatrical success of Home and the rapid expansion of our Television and New Media businesses. The appetite for premium content across platforms continues to grow both domestically and internationally, and it’s clear DreamWorks Animation is well-positioned to capitalize on the growing demand,” said DreamWorks Animation CEO Jeffrey Katzenberg.

     

    Home, which was released theatrically on 27 March, 2015 has reached $177 million at the US box office and $207 million at the international box office to date. 

     

    Second Quarter Review:

     

    DreamWorks Animation’s second quarter revenues of $170.8 million increased 39.7 per cent versus the prior-year period primarily driven by the performance of the feature film, television series and specials and new media segments.

     

    Television Segment

     

    Revenues for the quarter ended 30 June, 2015 from the Television series and specials segment increased to $54.5 million, compared to $20 million during the prior-year period. The increase in revenues was attributable to a significantly higher number of episodes delivered under episodic content licensing arrangements.

     

    Segment gross profit increased to $19.2 million in the current quarter, from $1.2 million in the same period of the prior year. The increase was primarily driven by favorable amortization rates associated with episodic series, partially offset by higher up-front marketing costs associated with the release of its new television series.

     

    In addition, for the three months ended 30 June, 2014 segment gross profit was negatively impacted by higher than expected returns of seasonal and newly-released home entertainment product, as well as increased selling costs, related to the company’s Classic Media properties.

     

    Film Segment

     

    Revenues for the quarter ended 30 June, 2015 from the Feature Film segment increased to $87.8 million, up from $69.7 million in the prior-year period. Segment gross profit also increased to $31.7 million compared to $23.9 million in the same period last year.

     

    In the quarter, Home contributed revenue of $23.9 million, The Penguins of Madagascar contributed $8.3 million, How to Train Your Dragon 2 contributed $17.9 million, Mr. Peabody and Sherman contributed $8.4 million and Turbo contributed $1 million.

     

    Library titles contributed feature film revenue of $28.3 million to the quarter.

     

    Consumer Products Segment

     

    Revenues from the Consumer Products segment decreased to $12.7 million in the second quarter, compared to $18.5 million in the same period last year. The prior year period benefitted from merchandise and licensing revenue associated with How to Train Your Dragon 2, which was released theatrically in June 2014. Segment revenues in the current quarter were primarily generated by licensing arrangements related to a variety of intellectual property rights associated with the characters from films.

     

    Segment gross profit decreased to $1.8 million from $7.3 million in the prior year period, largely due to higher costs incurred across a variety of segment activities.

     

    New Media Segment

     

    Revenues for the quarter ended 30 June, 2015 from the company’s New Media segment were $14.6 million compared to $11.5 million during the three months ended 30 June, 2014. This increase was primarily attributable to revenue generated under new licensing agreements and the delivery of newly-created content versus the prior-year period.

     

    Segment gross profit increased to $7.5 million from $2.5 million in the prior-year period, primarily due to higher revenue contributions from newly licensed content.