The DreamWorks Animation CEO still has a lot invested in snails — with Netflix carrying the studio’s animated series Turbo FAST — and says the film’s failure doesn’t mean the TV show will skid off track. …
So much for CEO Jeffrey Katzenberg’s prediction that Turbo would be profitable. DreamWorks Animation‘s shares are down 5.6% in post-market trading after releasing a Q4 earnings report that includes a $13.5M impairment charge, equal to 12 cents a …
LOS ANGELES, Dec. 3, 2013 — Turbo and his Fast Action Stunt Team are challenging the world to “snail up!” as they make their global television debut on Christmas Eve – Tuesday, December 24th at 12:01 AM PST – with the launch of DreamWorks Animation’s all new Turbo FAST series, exclusively in all Netflix territories. Families will be able to stream the first five episodes this holiday season, with additional all new episodes premiering throughout the year.
I expected shares to be up after yesterday’s report, where Q3 revenues and profits soundly topped analyst expectations. But I didn’t think DreamWorks Animation would be +18% in afternoon trading, after touching $33.02 — the highest it’s been since September 2010. What’s going on? “It looks like a short squeeze” — the aftermath of bet by short sellers that went bad — says Sterne Agee’s Vasilly Karasyov. Short sellers profit when a company’s stock price drops: They borrow shares, sell them, and then repurchase them at what they hope will be a lower price. That looked like a safe gamble for DWA. Its stock had appreciated 40% over the 12 months ending yesterday. And it appeared ready to fall as some analysts projected that the studio would have to report an impairment charge for its summer release, Turbo, a box office disappointment. Janney Capital Markets’ Tony Wible — one of just two analysts urging investors to buy the stock — says DWA is “a hated name [on Wall Street] with a high short position.” If the company beat expectations, though, it would be “the recipe for a big boost that is likely aided by short covering.” And DWA did surprise.
It’s a low bar. But the projection by the DreamWorks Animation CEO in a conference call with analysts should reassure investors who feared that the company would have to record an impairment charge for its summer release about a …
The company’s had a strong run lately following better-than-expected box office sales for the March release The Croods, and potentially lucrative TV production deals with Netflix and Super RTL. DreamWorks Animation shares are …
The stock is down 7% midday as investors try to determine how much, or little, DreamWorks Animation can expect from Turbo following its weaker-than-expected $31.1M domestic opening weekend box office results. “Investors will probably shoot first and ask questions later given the domestic performance,” says Stifel analyst Benjamin Mogil …
Listen to (and share) episode 35 of our audio podcast Deadline Awards Watch With Pete Hammond. Deadline’s awards columnist talks with host David Bloom about today’s Emmy nominations announcements, looking at the big winners and some surprises, including American Horror Story, 30 Rock, The Big Bang Theory, Behind The Candelabra, Mad Men, Phil Spector, Homeland and the Netflix newcomer House Of Cards. Pete and David also discuss the week’s movies, a very full slate of major releases that includes the geezer spy action-comedy Red 2, old-school chiller The Conjuring, Nicholas Winding Refn’s violent reunion with Ryan Gosling Only God Forgives, the unscreened-for-critics R.I.P.D. and sweet-natured snail tale Turbo.
The Indianapolis 500 will be broadcast Sunday on ABC. But this DreamWorks Animation toon’s 2nd phase trailer waits what seems like an interminable time for the tie-in. David Soren writes and directs Turbo about a snail that feels the need for speed. Scripted with Darren Lemke and Robert D. Siegel, its voice cast includes …
After announcing in August that it plans to open a theme park in Shanghai by 2016, DreamWorks Animation today unveiled plans for Russia. The company has partnered with property development and management firm Regions GC to build what is promised to be Europe’s largest indoor theme parks. The attractions in Moscow, St. Petersburg and Yekaterinburg are expected to be completed in 2015 and are planned as year-round “entertainment zones” — the indoor placement designed to avoid weather being an issue.
Each complex will incorporate a movie and concert hall, 4D movie theater, three-star 400-room hotel and retail space. DreamWorks Animation properties to be featured include Shrek, Madagascar, How To Train Your Dragon, Kung Fu Panda and the upcoming garden snail adventure Turbo, which will bow in Russia on July 11 ahead of its U.S. debut.
Russian box office jumped 8% in 2012 for over $1.2B in takings and DWA movies are popular there. Madagascar 3: Europe’s Most Wanted is the second-highest-grossing animated film in Russian history and the fourth-biggest film of all time. “Russia is one of the most important markets in the world for us,” said CEO Jeffrey Katzenberg. “All of us at DWA are extremely excited to work with Regions CG to be the first Hollywood studio to create not just one, but three, theme parks in Russia.”
Up to now execs at cable networks such as Nickelodeon that syndicate their kids shows to Netflix say the streamed viewing doesn’t cannibalize conventional TV watching. But we’ll see whether they’re as forgiving in December when Netflix introduces its first original kids show, Turbo: F.A.S.T. (Fast Action Stunt Team) – based on DreamWorks Animation‘s upcoming theatrical film Turbo – in the U.S. and 40 other countries. “Netflix boasts one of the largest and fastest-growing audiences in kids television,” DreamWorks Animation CEO Jeff Katzenberg says. “They pioneered a new model for TV dramas with House Of Cards, and now together, we’re doing the same thing with kids’ programming. DreamWorks is thrilled to be part of the television revolution.” Netflix’s Chief Content Officer Ted Sarandos says that ”creating an original series for kids was a natural for us. And we’re doing it in a big way by adapting Turbo, this year’s DreamWorks Animation summer tentpole movie.” The announcement comes as the studio’s movies shift from HBO to Netflix for showing in the premium TV window.
A snail that yearns for speed gets his wish in this DreamWorks Animation toon. David Soren directs Turbo, which is written by Darren Lemke, Robert D. Siegel and Soren. The impressive voice cast includes Ryan Reynolds, Paul Giamatti, Michael Pena, Luis Guzmán, Bill Hader, Richard Jenkins, Ken Jeong, …
The Croods - March 22, 2013
Turbo – July 19, 2013
Mr. Peabody & Sherman - November 1, 2013
Me And My Shadow – March 14, 2014
How To Train Your Dragon 2 – June 20, 2014
Happy Smekday! – November 26, 2014
The Penguins Of Madagascar – March 27, 2015
Trolls (working title) – June 5, 2015
B.O.O.: Bureau of Otherworldly Operations – November 6, 2015
Mumbai Musical (working title) – December 19, 2015
Kung Fu Panda 3 – March 18, 2016
How To Train Your Dragon 3 – June 18, 2016
EXCLUSIVE: Jeffrey Katzenberg’s company struck a licensing arrangement with IndyCar — the organization that sanctions major races including the Indianapolis 500 — and the Indianapolis Motor Speedway to secure their help with the 2013 release. Turbo is about a garden snail that idolizes 5-time Indy 500 champ Guy Gagne and tries to win the race after a freak accident gives it extraordinary speed. DreamWorks secured rights to use the racing group’s trademarked names and images by agreeing to buy an undisclosed amount of ad time on its broadcasts and at racing venues, IndyCar CEO Randy Bernard tells me. His group will announce later some of the specific drivers who will be depicted in the film. “The Indianapolis 500 is a one-of-a-kind live event that has fascinated people of all ages for many, many years and Turbo is a character whose biggest ambition is to add his name to its list of international champions,” says Katzenberg, Dreamworks Animation’s CEO. The deal appealed to the racing organization, Bernard says, because “we’re trying to grow a business around the world. We look at this as an international film that will bring presence to IndyCar” especially among young audiences.