DreamWorks Animation has been having as rough a last couple years as a studio can have. Things have been coming to a head this past month though with DreamWorks selling and leasing back its animation studio and the laying off of 500 workers. Finally, though, we have an overall view of how dire the situation is for DreamWorks Animation: earlier this week, The New York Times reported that Jeffrey Katzenberg, CEO, has announced a $263 million loss over the last quarter.
DreamWorks Animation has been suffering from more than its share of flops lately, with Turbo, Rise Of The Guardians, Mr. Peabody & Sherman, and The Penguins Of Madagascar all losing money at the box office. Katzenberg has been expressing a lot of faith that the studio’s work in television animation and their YouTube channel AwesomenessTV, along with merchandise sales, will keep the company afloat. However, Wall Street analysts have been pointing out that such side projects need successful films to feed off of in order to make a profit.
All of this means that DreamWorks Animation’s latest film, Home, has a lot riding on its shoulders. It’s the only animated film DreamWorks is releasing in 2015. Judging by statements that Katzenberg has made to the press, he’s hoping that Home will usher in a “reset” for DreamWorks Animation. It sounds like these hopes may be true, since Katzenberg has said that he’s going to take on a “much, much more active, participating role” in the production of DreamWorks’ upcoming animated films.
Increased involvement from Katzenberg can only be good for DreamWorks Animation. After all, Katzenberg was one of the executives (along with Michael Eisner, Roy E. Disney, Frank Wells, and others) who brought Disney Animation into the Renaissance. If Katzenberg can work the same magic he helped to work at Disney, there’s a very good chance that DreamWorks Animation can turn its fortunes around.
What do you think? What can DreamWorks Animation do to get itself back on its feet?
Edited by: Kelly Conley