Is DreamWorks Animation set to implode?
Well, this news isn’t good. I just read in Variety that DreamWorks Animation’s net income fell 45% last quarter to $52 million, from $94 million the year before.
Even though sales of “Kung Fu Panda” DVDs generated $102 million during the quarter, revenue still fell 31% to about $200 million, down from $290 million.
Hmmm, this is a little different report than I posted earlier this month. I don’t know about you, but I’ll be one sad puppy if this company, which helmed films like “Madagascar: Escape 2 Africa,” “Over the Hedge,” and “Flushed Away” takes a dive.
CEO Jeffrey Katzenberg said in a statement that he thinks 2009 will be driven by more “Madagascar,” as well as “Monsters vs. Aliens,” the company’s first 3D release which opens in theaters March 27, 2009.
“We believe that Monsters vs. Aliens will reset the bar for what moviegoers should expect from a CG animated film,” Katzenberg said.
I hope so. I’m pulling for you, DreamWorks!
Image: Paramount/DreamWorks Animation
Tags: dreamworks, dreamworks animation, dreamworks finances, Family-Movies, Film, flushed away, kung fu panda, madagascar 2, monsters vs aliens, Movies, over the hedgeRelated Stories
POSTED IN: Animation, Box Office News, Coming Soon to Theaters, Distribution, Family, Film, Film Genres, Film Industry, Movies
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