May 2nd, 2008

Katzenberg Concerned with 3D Progress

Reuters reports that Dreamworks Animation SKG CEO Jeffrey Katzenberg is getting concerned over the lack of progress theater chains seem to be making in developing new 3D screens.

“I feel as though things have dragged along, and it’s been pretty disappointing,” said Katzenberg, a huge proponent of 3-D films, who has pledged to make all future films in 3-D at an incremental cost of $15 million per film.

The first 3D Dreamworks release will be Monsters vs. Aliens in the spring of 2009. Katzenberg still thinks that they will see a good return on their investment, but he’s concerned that they may not be able to reach all their goals to the fullest. Currently,

about 4,000 of the 37,000 cinema screens in the United States are digitally equipped, while a little more than 1,000 screens have 3-D capability.

May 2nd, 2008

Iron Man Kicks off Summer Movie Lineup

Variety is reporting that Iron Man is opening this weekend with Marvel and Paramount projecting strong numbers. It already quietly opened Thursday night on 4,105 theaters at 8pm and has been getting solid reviews from moviegoers and critics alike.

The arrival of “Iron Man” is a defining moment for Marvel Studios. Film was entirely financed produced by Marvel, with Paramount distributing.

“It is going to ignite the marketplace,” one rival distribution topper said. “The only thing that stops it from being a $100 million opening is some softness among younger females. That could even change, though.”

May 1st, 2008

Dreamworks Has Good Quarter

Animation Magazine reports that Dreamworks Animation SKG had a good fiscal quarter in the beginning of 2008. With ‘Bee Movie’ at the helm of the revenue makers for the studio, they reported a

total revenue of $156.6 million and net income of $26.1 million, compared to revenue of $93.7 million and net income of $15.4 million for the same period in 2007.

CEO Jeffrey Katzenberg says the next 12 months will be important for the studio, with the upcoming release of Kung Fu Panda on June 6th, as well as two other features to be released later in the year including their first 3-D film. Also, their forays into Broadway with Shrek the Musical will be fully realized when the show opens in December.