Katzenberg: 'Shrek the Third' Boosts DreamWorks' Q129 Apr, 2008 By: Chris Tribbey
DreamWorks Animation SKG rode Shrek the Third on DVD to a solid first quarter, and company CEO Jeffrey Katzenberg confirmed during a financial call with investors April 29 that Bee Movie will see a Blu-ray Disc release this summer.
The company reported profits of $26.1 million during the first period of 2008 (which ended March 31) on revenue of $156.6 million. That's compared to profits of $15.4 million on revenue of $93.7 million during the same period in 2007.
Katzenberg also said Bee Movie will get a Blu-ray release. However, he would not say whether catalog or future theatrical titles would see Blu-ray releases. Bee Movie contributed nearly $49 million in revenue for the quarter and nearly 5 million net units had been shipped, Katzenberg said.
“We haven't made a decision yet beyond Bee Movie [for Blu-ray], but stay tuned,” he said.
Shrek the Third remained a strong source of revenue for the company, contributing just more than $48 million for the quarter, and through the end of March nearly 20 million net units had been shipped.
“We now expect Shrek the Third to move into a catalog-like performance pattern,” Katzenberg said. “However, as we saw with the first two chapters of ‘Shrek,' we believe it will have several opportunities to sell additional home video units through events specific to the ‘Shrek' franchise (Shrek the Musical, Shrek the Halls on DVD, and the fourth ‘Shrek' film in 2010).”