by Kelly Criscione

DreamWorks Animation SKG, Inc.

DreamWorks Animation SKG, Inc. is an American animation studio that creates computer-generated feature-length movies and television specials. Initially, the company produced dramatic narratives films, such as The Prince of Egypt, The Road to Eldorado and Spirit: Stallion of the Cimarron. However, in order to appeal to a broader demographic, DreamWorks Animation is beginning to adopt a more fun and comedic tone in its movies – while still maintaining the company’s traditional sophisticated storyline. [1]

DreamWorks Animation has released 23 feature-length films and produces two to three new movies each year. All of the new movies are also being made in 3-D. [1]

Characters from existing movies are being expanded into developing DreamWorks Animation television programs. Nickelodeon airs TV series Kung Fu Panda: Legends of Awesomeness, with the main character from the 2008 movie, Kung Fu Panda, and The Penguins of Madagascar, featuring the animals from the 2005 movie, Madagascar. [1]

Along with the company’s cinematography and television programs, DreamWorks Animation generates online sites and live entertainment shows that are based on previous movies. Kung Fu Panda fans can continue their experience through the virtual Kung Fu Panda World, which allows users to play games and interact with movie characters.  Also, the movie-inspired circus “How to Train Your Dragon Arena Spectacular” began its world tour in March 2012. [1]

History

(From left to right) David Geffen, Jeffrey Katzenberg and Steven Spielberg

From 1994 to 2004, DreamWorks Animation was part of the business division of DreamWorks Studios, the major film studio established by writer-director, Steven Spielberg, former Disney chairman Jeffrey Katzenberg and music executive David Geffen. [2] The entertainment trio produced nine movies, starting with Antz (1998) and ending with Shark Tale (2004). [3]

Within that decade, Shrek was released in 2001 and won the first ever Academy Award for Best Animated Feature, beating Monsters, Inc. and Jimmy Neutron: Boy Genuis. [4]

In October 2004, DreamWorks Animation entered the “Separation Agreement” to legally detach itself from DreamWorks Studios’ animation division. Katzenberg decided to head the new public company, DreamWorks Animation SKG, Inc. [2] That same year, DreamWorks Animation released Shrek 2 and Shark Tale, which helped them become the first animation company to produce two computer-generated animation feature-length films in one year. [1]

In January 2006, a distribution agreement with Paramount Pictures gave them the rights to distribute all of DreamWorks Animation animated films. In 2010, the company was praised for being the first company to produce three computer-generated animation feature-length films in one year. How to Train Your Dragon, Shrek Forever After and Megamind, were all released – and in 3-D. Today, DreamWorks Animation operates in its two studios in Glendale and Redwood City, California. The Glendale animation campus is the company’s headquarters and was custom-design in 1997. [2] It has been listed as one of the “100 Best Companies to Work For” by FORTUNE Magazine for the past four consecutive years. [1]

Current Affairs

January

January 20, 2012 – DreamWorks Animation ranked 14th on “100 Best Companies to Work For” by Fortune magazine. 2012 marks the fourth consecutive year that the company has made the list. According to employees, Chief Executive Katzenberg makes himself available to employees and regularly hires new staff. [5]

January 24, 2012 – Gregg Taylor is named DreamWorks Animation’s new head of development. He will be in charge of supervising all ongoing projects at both of the company’s studios. Prior to his promotion, Taylor was the senior development and production executive for the company. Taylor is replacing Alex Schwartz, who held the position for four years and will now serve as producer for the upcoming movie Mr. Peabody & Sherman, which is scheduled for release in March 2014. [6]

January 30, 2012 – DreamWorks Animation movie Puss in Boots surpassed the $500 million earnings milestone. The movie made approximately $507 million worldwide as of this date and was nominated for an Academy Award for Best Animated Feature Film. [7]

February      

February 7, 2012 – DreamWorks Animation announced its publishing agreement with D3Publisher (D3P), a publisher for interactive entertainment software. Through the agreement, D3Publisher acquires rights to develop and release video games based on three upcoming feature films; Madagascar 3: Europe’s Most Wanted, Rise of the Guaardians and The Croods. The games will be available in time to coincide with the movie release and represents DreamWorks Animation’s goal to make movie-related products accessible in a variety of platforms. [8]

The logo for the new Oriental DreamWorks

February 17, 2012  – DreamWorks Animation unveiled its new business  plans to form a joint venture with China Media Capital (CMC) to create a China-focused family entertainment company. Both companies plan to include Shanghai Media Group (SMG) and  Shanghai Alliance Investment, Ltd. (SAIL) in their agreement.  The agreement will form the new Oriental DreamWorks company, which will work with high-quality Chinese animation technology and developments to produce content that will be available within China and across the world. [9]

Besides content creation, the companies want to develop theme parks, interactive games through mobile devices and online, more consumer products and live entertainment. Each company involved in the business deal has a different area of expertise, which puts the company at an advantage and maximizes its global capacities. [9]

The Chinese companies will hold a 55% stake in the company and DreamWorks Animation will hold 45%. The new studio plans to begin work later in 2012 and has been recruiting staff from Hollywood. [10]

March  

March 12, 2012  – DreamWorks Animation will work with INDYCAR to develop an original movie theme for the upcoming movie Turbo, which is scheduled for release in July 2013. Turbo features a snail that has a chance to achieve its life goal to win the Indy 500, after a freak accident leaves the bug with an incredible speed. INDYCAR works to preserve the heritage of the Indianapolis 500 and their alliance with the animation company will help provide an authentic storyline and provide the audience with an imaginative, but also a very accurate and real=life experience. The movie will especially appeal to Indy 500 fans of all ages. [11]

April

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Jeffrey Katzenberg, CEO of DreamWorks Animation SKG

April 11, 2012 – CEO Jeffrey Katzenberg’s took a 40% pay cut for his annual 2011 salary because of the company’s weak performance the year before. Although Katzenberg is not an employee whose yearly bonuses are tied to the company’s performance, the board compensation committee felt unsatisfied and therefore reduced his option awards. [12]

April 16, 2012 – DreamWorks Animation is the sixth Hollywood studio to partner with Walmart for their Vudu service. Vudu is a disc-to-digital program that allows DVD or Blu-Ray disc owners to authorize and upload their movies to a digital cloud. Consumers no longer need a hard copy and can access their movie library through their different media devices (Playstation 3, XBox 360, iPad, laptops). [13]

Board of Directors         

• Jeffrey Katzenberg, CEO/Co-founder
• Lewis Coleman, CFO
• Roger Enrico
• Mellody Hobson
• Michael Montgomery
• Nathan Myhrvold
• Judson Green
• Thomas Freston
• Harry Brittenham
• Richard Sherman [14]