'Shrek' film studio plans growing TV income, deals
AFP
LOS ANGELES- DreamWorks Animation, the studio behind blockbusters including "Shrek" and "Kung Fu Panda," said Tuesday it plans to expand its small-screen output with television deals around the world.
The US company, which announced an agreement Monday to produce original shows for online streaming video giant Netflix, hopes to earn $100 million from TV this year and $200 million a year from 2015, it said.
The Netflix deal covers over 40 countries, and Katzenberg announced that the California-based studio was in active talks with potential partners in other markets around the globe.
"In addition to being the world's largest feature animation studio, we're now on a path to becoming one of the biggest producers and distributors of high quality family TV programming on a global basis," he said.
"We're in discussions throughout the world ... in virtually every major market that Netflix is not in, including China," he added in a conference call with investors and analysts.
The new TV programming will include shows based on its globally successful feature film franchises, also including "Madagascar" and "How to Train Your Dragon."
In addition the studio, based in the Los Angeles suburb of Glendale, is expanding its businesses based on consumer products, theme parks and cruise ships, and its joint venture in China, Oriental DreamWorks.
"DreamWorks is increasingly shifting from an animated feature film company into a multi-faceted branded entertainment company that delivers high quality family content around the world," he said.
On Monday Netflix chief content officer Ted Sarandos said called DreamWorks Animation a "valued partner in our global efforts to provide families the most engaging stories delivered however, whenever and wherever they want."
DreamWorks announced a deal with Netflix in February for an original series based on the upcoming film "Turbo."
Feature films will also be released on Netflix beginning next year, starting with "The Croods," "Turbo" and "Mr Peabody and Sherman," the two companies said in a joint statement.
Primarily a platform for viewing recent and not-so-recent films and TV shows, Netflix branched out into original programming in February this year with the political thriller "House of Cards" starring Kevin Spacey.
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