DreamWorks Studios also known as DreamWorks, LLC, DreamWorks SKG, DreamWorks Pictures,
or simply DreamWorks, is an American film production company which produces and develops
films, video games and television programming. It was also a former film distributor for
its own and other films made by separate production companies. It has produced or distributed
more than ten films with box-office grosses totaling more than $100 million each. Currently,
DreamWorks' films are marketed and distributed by Walt Disney Studios Motion Pictures under
its Touchstone Pictures banner. DreamWorks began in 1994 as an attempt by
media moguls Steven Spielberg, Jeffrey Katzenberg and David Geffen to create a new Hollywood
studio of which they owned 72%. Currently, DreamWorks is operating out of offices at
Universal Studios. In December 2005, the founders agreed to sell the studio to Viacom, parent
of Paramount Pictures. The sale was completed in February 2006. In 2008, DreamWorks announced
its intention to end its partnership with Paramount and signed a $1.5 billion deal
to produce films with India's Reliance ADA Group. Reliance provided $325M of equity to
fund recreating DreamWorks SKG, into DreamWorks Studios, an independent entity. Clark Hallren,
former Managing Director of the Entertainment Industries group of J.P. Morgan Securities
and Alan J. Levine of J.P. Morgan Entertainment Advisors led the Reliance team in structuring
the capital and business plan for the company. DreamWorks' animation arm was spun off in
2004 into DreamWorks Animation SKG, which currently owns the DreamWorks trademarks.
Spielberg's company continues to use the DreamWorks trademarks under license from DWA.
History DreamWorks SKG
The company was founded following Katzenberg's resignation from The Walt Disney Company in
1994. Katzenberg approached Geffen and Spielberg on starting a live action and animation film
studio, which hasn't been done in decades due to it being difficult and expensive. But
all three were very successful. They had three conditions: They would make less than nine
movies a year, They would be free to temporarily work for other studios if they choose, and
would go home in time for dinner. They agreed which and they officially founded DreamWorks
SKG on October 2004, with financial backing of $33 million from each of the three main
partners and $500 million from Microsoft co-founder Paul Allen.
Their new studio, was based at offices in the Universal Studios lot, where the Amblin
Entertainment offices used to be located. Despite access to sound stages and sets in
the Universal lot, DreamWorks always tends to film motion pictures on location. Occasionally,
DreamWorks would film in a soundstage or set in a major studio. DreamWorks is still based
in Universal as of 2014, and has no plans to expand.
In 1995, traditional animation artists from Amblimation joined DreamWorks SKG, and teamed
up with Pacific Data Images to form the new DreamWorks animation department, PDI/DreamWorks,
later the future company DreamWorks Animation. In 1997, DreamWorks SKG released its first
three feature films, The Peacemaker, Amistad, and MouseHunt, these films were distributed
by DreamWorks Pictures, the name that DreamWorks uses when it produces or distributes a film.
This name was continued to be used by DreamWorks since their first feature film, and to the
present. In 1998, the United States 9th Circuit Court
of Appeals upheld a lawsuit against DreamWorks SKG for trademark infringement by Dreamwerks
Production Group, Inc., a company mostly specializing in Star Trek conventions. The same year, PDI/DreamWorks
produced its first full-length animated features, Antz and The Prince of Egypt, which were distributed
by DreamWorks Pictures. DreamWorks SKG continued to distribute PDI/DreamWorks productions through
their distribution name until 2004. In 2000, DreamWorks SKG was planning in building
a studio backlot after they bought 1,087 acres of land in the Playa Vista area in Los Angeles.
It was to be complete with 18 sound stages, with many office buildings, and a lake. And
there would also be new homes, schools, churches, and museums. The project was to be completed
in 2001, but was cancelled for financial reasons. In 1999, 2000 and 2001, DreamWorks SKG won
three consecutive Academy Awards for Best Picture for American Beauty, Gladiator and
A Beautiful Mind. DreamWorks Interactive was a computer and
video game developer founded in 1995, as a subsidiary of DreamWorks SKG. On February
24, 2000, Electronic Arts announced the acquisition of DreamWorks Interactive from DreamWorks
and merged it with EA Pacific and Westwood Studios to form EA Los Angeles, now Danger
Close Games. DreamWorks Records was the company's record
label, the first project of which was George Michael's Older album. The first band signed
to this label was eels who released their debut album "Beautiful Freak" in 1997. The
record company never lived up to expectations, though, and was sold in October 2003 to Universal
Music Group, which operated the label as DreamWorks Nashville. That label was shut down in 2005
when its flagship artist, Toby Keith, departed to form his own label.
PDI/DreamWorks produced some of the highest grossing animated hits of all time later on
such as Chicken Run, Shrek, and its sequel Shrek 2. In October 2004, DreamWorks' animation
arm split with DreamWorks SKG to form DreamWorks Animation, and would have its films distributed
by Paramount Pictures. David Geffen admitted that DreamWorks SKG
had come close to bankruptcy twice. Under Katzenberg's watch, the studio suffered a
$125 million loss on Sinbad: Legend of the Seven Seas, and also overestimated the DVD
demand for Shrek 2. In 2005, out of their two large budget pictures, The Island bombed
at the domestic box office but turned a profit after being released elsewhere, while War
of the Worlds was produced as a joint effort with Paramount which was the first to reap
a significant amount of profits. Paramount Subsidiary
In December 2005, Paramount Pictures agreed to purchase the live-action studio, still
keeping the original name and producing/distribution name. The deal was valued at approximately
$1.6 billion, an amount that included about $400 million in debt assumptions. The company
completed its acquisition on February 1, 2006. On March 17, 2006, Paramount agreed to sell
a controlling interest in the DreamWorks Pictures live-action library to Soros Strategic Partners
and Dune Entertainment II. The film library is valued at $900 million. Paramount retained
the worldwide distribution rights to these films, as well as various ancillary rights,
including music publishing, sequels and merchandising. This includes films that had been made by
Paramount and DreamWorks Pictures. The sale was completed on May 8, 2006. On February
8, 2010, Viacom repurchased Soros' controlling stake in the DreamWorks Pictures library for
around $400 million. Later in the marriage between DreamWorks SKG and Paramount Pictures,
DreamWorks SKG became intoxicated and would later have trouble distributing their own
films and even fully financing them. DreamWorks Studios
In June 2008, Variety reported that DreamWorks was looking for financing that would allow
it to continue operations, but as a production company , once its deal with Paramount ends
later in the year. Several private equity funds were approached for the financing including
Blackstone Group, Fuse Global, TPG Capital. and several others. But all passed on the
deal given their earlier understanding of the Hollywood markets. Then most of the backing
would come from an Indian investment firm called Reliance ADA Group. Spielberg entered
a licensing agreement with Katzenberg to use the DreamWorks trademarks and their name it
used when it produced or distributed a film, only it would only just produce films, as
they are owned by DreamWorks Animation and the new company would need their approval
to use them. In September 2008, it was reported by Variety that DreamWorks closed a deal with
Reliance to create a stand-alone production company titled DreamWorks Studios and end
its ties to Paramount. On February 9, 2009, DreamWorks Studios entered
into a long-term, 30-picture distribution deal with Walt Disney Studios Motion Pictures
by which the films will be released through the Touchstone Pictures banner, a division
of The Walt Disney Studios that distributes films that have more mature themes and darker
tones than those released by its Walt Disney Pictures banner. The deal also includes co-funding
via a loan by Disney to DreamWorks Studios for production and access to slots in Disney's
pay television agreement then with Starz.This agreement is reported to have come after negotiations
broke off with Universal Pictures just days earlier. DreamWorks raised $325 million from
Reliance Entertainment and an additional $325 million in debt in 2009.
DreamWorks Studios' initial movies, I Am Number Four, Cowboys & Aliens and Fright Night failed
while The Help was a hit and Real Steel and Spielberg's own War Horse had some success
at the box office. This left DreamWorks Studios financially drained that by 2011, the company
was seeking additional funding from Reliance. Reliance gave a $200 million investment in
April 2012. Under the deal, DreamWorks Studios scaled back production to three films per
year and seek co-financiers on big budget films with 20th Century Fox co-financing Lincoln
and Robopocalypse. The company continues to utilize Disney's marketing team. In August
after renegotiating their agreement with Disney, DreamWorks Studios formed a deal with Mister
Smith Entertainment to sell the distribution of DreamWorks films in Europe, Africa and
the Middle East, while Disney will continue to distribute in North America, Australia,
Russia, and some territories in Asia. Logo
The DreamWorks logo features a young boy sitting on a crescent moon while fishing. The general
idea for the logo was the idea of company co-founder Steven Spielberg, who wanted a
computer generated image. The logo was then made at Industrial Light and Magic, in collaboration
with Kaleidoscope Films, Dave Carson and Clint Goldman.The music accompanying the logo to
start live-action DreamWorks movies was specially composed by John Williams; the DreamWorks
Animation logo has music from the Harry Gregson-Williams/John Powell score for Shrek.
Distribution DreamWorks used to be able to distribute its
own films that it produced. When Viacom bought DreamWorks in 2006, this meant most DreamWorks
films were to be distributed by Paramount Pictures. This partnership ended in 2008.
On February 9, 2009, DreamWorks entered into a long-term, 30-picture distribution deal
with Walt Disney Studios Motion Pictures by which the films will be released through the
Touchstone Pictures banner. The deal also includes co-funding by Disney to DreamWorks
for production. Originally, the deal included access to slots in Disney's pay television
agreement with Starz, but went to Showtime instead. This agreement was reported to have
come after negotiations broke off with Universal Pictures just days earlier. However, this
deal does not include Indian distribution rights, which is handled by Reliance. Also
not included are sequels to live-action films released before the Paramount merger, or those
released by Paramount themselves – Paramount retains the rights to these franchises, and
many sequels that were made by Paramount included, Little Fockers, which was released by Paramount
internationally in December 2010, Anchorman: The Legend Continues, Road Trip: Beer Pong
and Transformers Dark of the Moon. The broadcast and basic subscription cable
television distribution rights to many DreamWorks films are owned by either Trifecta Entertainment
& Media and Disney-ABC Domestic Television, depending on both content and region of license.
In South Korea, CJ Entertainment has the rights to release all DreamWorks' films, except some
co-productions. Over the years, many DreamWorks films have
aired on the ABC TV network through a deal. The network once owned uncut broadcast rights
to Saving Private Ryan, as an example. Formerly, United International Pictures, a
joint venture of Paramount and Universal, released DreamWorks' films internationally.
In August 2012, DreamWorks formed a deal with Mister Smith Entertainment, a joint venture
of Constantin Film and Summit Entertainment co-founder David Garrett. Mister Smith will
sell the distribution of DreamWorks films in Europe, Africa and the Middle East, while
Disney will continue to distribute in North and South America, Kazakhstan, Australia,
Russia, and Eastern Asia. Reliance will still distribute for India. Mister Smith made a
four-year deal with Entertainment One for distribution in the United Kingdom and the
Benelux countries. Other deals were made with Constantin Film for GermanySwitzerland, Nordisk
Film for Scandinavia, and Italia Film for the Middle East. In February 2013, DreamWorks
announced distribution deals with Acme, United King, Metropolitan Filmexport, Andrea Leone,
Monolith, Blitz, Fida Film, Lusomundo, Odeon, Interfilm, and TriPictures/DeaPlaneta.
Filmography
TV series and specials
Musical artists
Computer and video games
Animated productions
See also Universal Pictures
Paramount Pictures United International Pictures
Walt Disney Studios Motion Pictures Amblin Entertainment
References
External links Official website
DreamWorks SKG at the Internet Movie Database