Magazine article Screen International

DreamWorks Animation Unveils Restructure

Magazine article Screen International

DreamWorks Animation Unveils Restructure

Article excerpt

The embattled studio is letting go of marketing chief Dawn Taubin, vice-chair Lew Coleman and COO Mark Zoradi as it plans to lay off approximately 500 people and cut the feature slate to two films a year.

In a call with analysts on Thursday (January 22) announcing the restructure, DreamWorks Animation chief Jeffrey Katzenberg said that he was returning his focus to the core business of making "outstanding" features.

Katzenberg said the company, which in recent years has turned its sights to digital and short-form entertainment alongside the film roster, expected to take another write-down of approximately $55m pursuant to the poor performance of Penguins Of Madagascar and Mr. Peabody & Sherman.

The studio has already put into effect write-downs on Mr. Peabody & Sherman, Rise Of The Guardians and Turbo.

The first three quarters of 2014 resulted in a 10% revenue drop and a $46.4m net loss. The corresponding period in 2013 generated a $37.9m profit.

How To Train Your Dragon 2 has offered a glimmer of good news and generated $618. …

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