ITV

Tag: Turbo

  • 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. 

  • Turbo launches new series ‘American Guns’

    Turbo launches new series ‘American Guns’

    MUMBAI: The first of its kind 24-hour multi-genre channel “just for males” – Turbo brings a new series that introduces viewers to a typical suburban family which is into most unique weapons business – guns.

     

    The Wyatts family owns Gunsmoke, one of the premiere firearms facilities in the world. Located outside Denver, Colorado, Gunsmoke is where they buy, sell and trade guns – from hand canons to hunting rifles. And if you don’t see what you want, they’ll build one for you from nothing more than a block of metal. Get ready for some explosive, pump-loading action with the Wyatts in Turbo’s new series American Guns, premiering on 1 January every Thursday at 7 pm.

     

    Where there’s Gunsmoke, there’s a Wyatt! Rich Wyatt, a retired cop with over 20 years of experience, owns the shop and runs it with his family. Not only is Rich one of only six people in the world certified by Colonel Jeff Cooper, a master firearms instructor and one of the 20th century’s foremost experts on the use and history of small arms, he is an extremely talented gunsmith. Give him a block of steel and he’ll create art. Renee, the matriarch of the Wyatt clan, is a force to be reckoned with. She runs the household and the business side of Gunsmoke, and doesn’t go anywhere without her pistol in her boot. Kurt, their son, is a skilled salesman and an incredible engraver. He qualified as a pistol expert at the age of 13, and handles all of the engraving jobs that come through the gun shop. Daughter Paige graduated high school early, and now works in the shop full time, taking on additional responsibilities for the business. While this 16-year-old may look like a Barbie doll, she knows more about guns than most people who walk through the Gunsmoke door!

     

    Whether making a single action revolver for a preacher to replicating what many experts consider to be the first firearm in history, Gunsmoke is where you’d go to get it done. From a small business 19 years ago, Gunsmoke has flourished into a firearms enterprise. With custom orders pouring in, on top of the customers that walk through their doors to buy in-stock guns, register for safety classes, or engrave their firearm, business is busier than ever and the Wyatt family knows they need to step up their game to keep up with the workflow, while ensuring that no weapon leaves the shop without meeting their standards.

     

    Among the firearms featured in the premiere season of American Guns include:

    Knuckle Duster – This gun, built in the late 1800’s, was both brass knuckles AND a firearm.  It was used for ‘close combat’ because it was small and easily concealable.  It’s no surprise it was the weapon of choice for many card cheats, thugs and prostitutes at the turn of the century.  When a customer brings one in that can’t be repaired, Rich does what he does best – builds him an exact replica from scratch.

     

    ‘Colt’ Single Action Army – This is THE quintessential gun of the American west, carried by outlaws like Jesse James and lawmen like Wyatt Earp. Rich builds a one-of-a-kind Single Action Army from scratch for, proving the widespread appeal of the weapon, a Baptist preacher who wants a specialized and extremely fast six-shooter to help him win Cowboy Action Shooting competitions.

     

    Hand Cannon – Before there were handguns, there were cannons.  The Hand Cannon is the first cannon that could be held in a soldier’s hands and fired.  Some argue that this is THE first firearm, the predecessor to everything we today know of as “guns.”  Rich and his team build one from scratch for Rich’s friend Gary, an explosives fanatic who owns every type firearm built to blow things up…except this one.

     

    Adaptive Hunting Rifle – A young Colorado man lost most of the use of his right arm when his Humvee struck an IED while on patrol in Iraq.  As a right-handed shooter, his injuries have made it difficult for him to hunt with his father, the thing that will make him feel normal again. Rich boldly steps up to the challenge to build this American hero a rifle that adapts perfectly to his physical limitations and helps him feel whole again.

     

  • Discovery’s six point agenda for 2015

    Discovery’s six point agenda for 2015

    MUMBAI: The network has tripled itself in India in the last five years, and today operates in six unique genres through its robust portfolio of 11 networks reaching a cumulative 260 million homes in five languages.

    We are talking about Discovery Networks, which extended its brand experience by launching Discovery Channel Magazine. It has expanded the business fuelled by marquee initiatives – new channels, unmatched India productions and marketing innovations.

    And going forward, the network is going to focus on six points – maintain leadership across genres, maximise viewership, build on the strength of Discovery Kids; establish ID as a ‘must watch’ channel; deliver on ‘male-centric’ brand promise of Turbo; continue to produce path-breaking India content, continue to innovate; and deliver value to advertisers and relentlessly explore new opportunities for growth.

    The year 2015 brings with it a heap of opportunities, but the path was laid in 2014 itself. The network revamped its channel, Turbo, to skew more towards men. The repositioning came in as a response to research conducted over the past couple of years.  “The viewers’ feedback and our constant research suggested a vacuum in English entertainment genre for men. Indian television has primarily been dominated by female led programming. The refreshed Turbo channel is an upscale men’s television network that provides high-octane programming for its viewers.  Turbo broadens its content with more genre mix to offer variety to its male audience.  It also enhances its value proposition for its viewers, advertisers and affiliates,” says Discovery Networks Asia-Pacific south Asia and southeast Asia executive VP and GM Rahul Johri.

    One of the key reasons to rebrand was to widen the channel’s appeal. Its core strength will be variety.  “Turbo will be the only specialised content channel in the English genre, reflecting the promised benefits of digitisation.  The Indian television landscape is ever changing and we have stayed ahead of the curve by recognising the evolving trends and addressing them by creating new television genres and distinct audience segments,” he adds.

    With each brand having its own identity and evolution process, the network is continuously evaluating all its channels, and when need arises, it shall plan if others too need to be revamped or not.
    Not only this, a surprise move for many in the industry, the network was able to get its recently-launched channel ID-Investigation in Tata Sky’s Hindi channel base pack. The move was to cater to Hindi speaking masses.  “The channel’s specialised content dedicated to crime and investigation has wider appeal.  In three months of its launch, ID has gained tremendous popularity, and has become an ideal ‘channel of choice’ for the base pack,” explains Johri when asked the reason behind the move.

    Others like Discovery Channel, Animal Planet and Discovery Science have wider demographic appeal and thus, are the preferred channels for viewers in the factual entertainment genre.  These channels too are in the base packs of DTH platforms.

    Nonetheless, with TheOneAlliance, the distribution JV between Multi Screen Media (MSM) and Discovery Network, being dissolved with effect from 1 January 2015, after 12 long years, the network is pulling all strings to make the coming year a remarkable one.

  • Turbo to set screens ablaze beginning 19 July

    Turbo to set screens ablaze beginning 19 July

    NEW DELHI: Turbo, a high-velocity 3D animation comedy about an underdog snail from the makers of Madagascar, Kung Fu Panda and The Croods, is being released on 19 July.

    It is about an underdog snail whose dreams kick into overdrive when he miraculously attains the power of super-speed. Turbo‘s single-minded goal is to compete in the greatest race in the world: the Indy 500. He even manages to get power to move at super-speed. But he soon learns that no one succeeds on his own. So he puts his heart and shell on the line to help his pals achieve their dreams, before Turbo-charging his own impossible dream: winning the Indy 500.

    The film is helmed by Paul Soren and stars a strong ensemble cast of Ryan Reynolds, Samuel Jackson, Snoop Dogg, Paul Giamatti and others.
     

    The requisite comedic and dramatic acting chops, and bigger-than-life persona, are embodied by Hollywood Hottie Ryan Reynolds, whom Director Paul Soren describes as “the perfect match” for Turbo.

    “I was pitched the idea about this character who has an impossible dream of winning the Indy 500,” Ryan Reynolds remembers. “I asked, ‘What‘s impossible about that?‘ And he said, ‘Turbo‘s a snail.‘ And I said, ‘That‘s impossible!‘”

    “But it all really sounded amazing, and I fell in love with its classic underdog story, which Turbo takes to a new level,” Reynolds continues. “It takes a unique if not insane perspective to bring a snail to life in this way. What I love most about Turbo is his tenacity and refusal to give up on his dream. In fact, it doesn‘t even occur to him to give up. Talent is a collision between hard work and luck, and that‘s what Turbo is.”

    Turbo‘s other key relationship is with the collective known as the Racing Snails, who ultimately serve as his pit crew at the Indy 500.

    Before Turbo arrived on the scene, the leader and reigning champ of the Racing Snails was Whiplash (Samuel L. Jackson). To be a member of Whiplash‘s crew, you must earn his respect, and until you do, you‘ll never experience the real Whiplash – a warm, jovial guy who treats his crew like family. 

    One of the final stages of the race to finish Turbo was the intricate sound design created by three-time Academy Award-winner Richard King (The Dark Knight, Inception, Master and Commander: The Far Side of the World). King worked closely with Soren to further define the film‘s vibrant characters and environments through their sounds. Among their principal challenges was creating Turbo‘s signature powering-up racing sounds, and differentiating them from the terrifying and deafening engines of the thirty-two Indy 500 cars pitted against him. 

    Soren also employed cutting-edge techniques to create the Indy 500 crowd scenes – 300,000 people strong. (It‘s the biggest sporting event in the world.) “There are more crowds in Turbo than any in animated film history,” says the director. To accomplish that, “we devised a system that allowed us to cover huge crowds with relatively low amounts of rendering time, in a way never before possible.”

    This kind of technical wizardry was always in service of Turbo‘s colourful characters and classic-with-a-twist underdog tale. “I think audiences will really get behind Turbo‘s determination and dreams,” says Soren. “There‘s a quality about underdog stories where you just can‘t help but start rooting for the character, get swept up by them, and start rooting for them”.

  • DreamWorks Animation reports net loss of $36.4 mn for the fiscal

    DreamWorks Animation reports net loss of $36.4 mn for the fiscal

    MUMBAI: DreamWorks Animation has reported total revenue of $749.8 million and a net loss of $36.4 million for the fiscal ended 31 December 2012.

    For the fourth quarter of the fiscal, the company reported total revenue of $264.7 million and a net loss of $82.7 million.

    Impacting DreamWorks Animation‘s fourth quarter and full-year 2012 results is a charge of approximately $165 million, which includes a write-down of film costs for ‘Rise of the Guardians‘ in the amount of $87 million, charges totaling $54 million related to the company‘s decision to return ‘Me And My Shadow‘ back to development, a write-off of a number of other development projects in the amount of $20 million and a charge of $4.6 million related to restructuring activities.

    DreamWorks Animation CEO Jeffrey Katzenberg said, “While ‘Rise of the Guardians‘ did not achieve the level of box office success that we have come to expect from a DreamWorks Animation film, we have made several changes to our future slate that we believe will position us well for the next two years. We are now looking ahead to our next release – and our first under our new distribution agreement with Twentieth Century Fox – ‘The Croods‘ on March 22, 2013.”

    ‘Rise of the Guardians‘, which has grossed $302.3 million at the worldwide box office, contributed revenue of $6.1 million to the quarter.‘

    ‘Madagascar 3: Europe‘s Most Wanted‘, which has grossed $746.6 million at the worldwide box office, contributed revenue of $95.2 million to the quarter, primarily from home entertainment and international box office. The film reached an estimated six million net home entertainment units sold worldwide through the end of the fourth quarter, net of actual and estimated future returns.

    ‘Puss In Boots‘ contributed $10.5 million of revenue to the quarter, primarily from pay television and home entertainment. The film reached an estimated 6.2 million home entertainment units sold worldwide through the end of the fourth quarter, net of actual and estimated future returns.

    ‘Kung Fu Panda 2‘ contributed $4.8 million of revenue to the quarter, primarily from home entertainment. The film reached an estimated 6.5 million home entertainment units sold worldwide through the end of the fourth quarter, net of actual and estimated future returns.

    Library, which now includes ‘Megamind‘, contributed approximately $63.4 million of revenue to the quarter. Other items, including holiday television specials and live theatrical properties, contributed approximately $53.1 million of revenue to the quarter. Classic Media contributed approximately $31.6 million of revenue to the quarter.

    Costs of revenue for the quarter equaled $354 million. Selling, general and administrative expenses totaled $36.5 million, including approximately $3.1 million of stock-based compensation expense.

    The company‘s income tax benefit for the fourth quarter was $42.4 million. The company‘s combined effective tax rate – the actual tax rate coupled with the effect of the Company‘s tax sharing agreement with a former stockholder – was approximately 34.3 per cent for the fourth quarter.

    The company‘s full year 2013 results are expected to be driven primarily by the performance of ‘The Croods‘, which is scheduled to be released on 22 March and ‘Turbo‘, which is scheduled to be released on 19 July.