DreamWorks Animation Is A Nightmare
Fri, Apr. 22, 3:20 PM
- DreamWorks Animation (DWA +0.2%) has filed its proxy statement, and it's disclosed that amid the company's recovery from an off year, pay for CEO Jeffrey Katzenberg more than doubled, to $13.5M.
- That's back around 2013 levels for him. His total compensation fell to $6.38M in 2014 with the absence of $6M in non-equity incentive (which returned in 2015). He also received a salary of $2.5M and stock awards of $4.5M, along with $526,919 in other compensation.
- President Ann Daly earned $8M in total comp ($1.5M in salary, and $3.5M in stock awards along with $3M in non-equity incentive) and CFO Fazal Merchant earned $4.65M.
- The company's former chief global brand officer, Michael Francis, earned $3.24M in 2015.
- After declining nearly 35% in 2014, DreamWorks Animation's stock rose 12.2% last year. It's up 5.3% YTD.
- Now read DreamWorks Animation »
Sat, Apr. 16, 10:06 AM
- Amazon (NASDAQ:AMZN) delivered a strong message to the exhibitor industry on its movie distribution plans during a presentation this week at CinemaCon.
- "All films will be released theatrically, with an aggressive marketing campaign to bring audiences to your theaters," stated Studios Marketing and Distribution Chief Bob Berney. Most importantly, Berney tipped off that theater chains will have an exclusivity window before films are streamed.
- The company's commitment to fully back films in theaters stands in opposition to the strategy of Netflix (NASDAQ:NFLX) which has been accused of using limited theatrical exposure as a way to qualify for awards.
- Amazon snapped up six new films at the Sundance Film Festival earlier this year, a few of which appear to have strong box office appeal.
- Also creating some buzz at CinemaCon was Sean Parker's The Screening Room which is looking to completely disrupt the industry with a service that makes films accessible at home the same day they are released in theaters. Most analysts think Parker will fail to get a majority of the major theater chains to play ball. On the studio side, a top Warner Bros. exec strongly hinted at CinemaCon that a middle-man wouldn't be allowed into the party.
- Related stocks: CKEC, AMC, CNK, RDI, IMAX, MCS, LGF, DWA, FOXA, TWX.
- Now read Amazon Just Fired A Major Shot At Netflix
Wed, Apr. 6, 9:04 AM
- Verizon (NYSE:VZ) is buying into AwesomenessTV with a minority stake that promises a big mobile video push for the youth-focused content brand.
- DreamWorks Animation (NASDAQ:DWA) will remain the majority shareholder with 51% of AwesomenessTV, now valued at about $650M by Verizon's move. Verizon will take about a 24.5% stake, equivalent to other minority partner Hearst.
- It's not just an equity deal, as Verizon wants to bring its Go90 video-service experience to bear in helping AwesomenessTV build a "first of its kind" branded video service with premium transactional content. The new premium service will be exclusive to Verizon platforms in the U.S. with AwesomenessTV holding rights to sell its content elsewhere.
- AwesomenessTV's founder and CEO Brian Robbins will continue to lead the company along with President Brett Bouttier.
- The transaction should close within the next 60 days. Verizon is off 0.8% premarket.
- Now read Is It Time To Take Profits From Verizon Communications? »
Mon, Mar. 14, 6:23 PM
- DreamWorks Animation (DWA -0.8%) has tapped Steven Adams as its new chief accounting officer.
- Adams most recently was senior VP, controller and CAO for DirecTV, from September 2014 and through its acquisition by AT&T. He replaces Edward Aleman, who resigned in January due to health reasons.
- Adams will get base pay of $400K with an annual cash incentive bonus at $200K, along with a starting equity award targeted at $100K and eligibility for annual equity awards (grant-date target value $300K).
Tue, Mar. 1, 2:22 PM
- With troubled Viacom (VIA +1%, VIAB +1.1%) looking for a minority partner for its Paramount Pictures film business, Jeffrey Katzenberg -- chief of DreamWorks Animation (DWA +0.9%) -- says he "fantasizes" about a merger with Paramount.
- While he knows that Paramount isn't looking for a full marriage, he told the Morgan Stanley investor conference attendees that television has become his studio's most important segment. DWA has 19 animated shows in production and live action on the way, with a library of "extremely high margin, very, very valuable TV."
- "It's our most profitable asset ... I think today is the first time I said it, actually," Katzenberg said.
- Viacom's TV business has struggled with poor ratings over the past year, a time in which shares have fallen 47%.
- Katzenberg also said the company was taking advantage of a valuable brand by getting into location-based entertainment: experiences on cruise ships and hotels, and a planned set of mini-theme parks.
- Previously: SpringOwl's Jackson: Viacom should spin Paramount to tracking stock (Feb. 26 2016)
- Previously: Paramount's likely suitors: Foreign firms, domestic tech (Feb. 24 2016)
Wed, Feb. 24, 1:19 PM
- DreamWorks Animation (NASDAQ:DWA) is a media leader today, up 18% after it boosted revenue substantially in its fourth quarter.
- B. Riley has bumped its price target slightly, to $26 -- 23.5% upside from yesterday's close of $21.06 -- in reiterating its Neutral rating after the report. Licensing sales helped, as did strong home/TV results from an underpopulated film slate (basically just Home) in 2015.
- "While we continue to believe the refocused release schedule and enhanced overhead structure/balance sheet boosts the potential for improved profitability into 2016/2017+, we are slightly more cautious on the box office outlook for Kung Fu Panda 3 as we are with the remainder of the film slate over the next 12 months," the firm's Eric Wold writes. "Therefore, given investors remain focused on film-based headlines, we would not be surprised if this held back shares somewhat as visibility around the other segments continues to ramp."
- Previously: DreamWorks Animation +11.6% after 36% gain in Q4 revenues (Feb. 23 2016)
Wed, Feb. 24, 12:48 PM
Tue, Feb. 23, 5:41 PM
Tue, Feb. 23, 4:30 PM
- DreamWorks Animation (DWA -2.1%) is up 11.6% after hours following a Q4 earnings release featuring strong revenue growth with the help of higher licensing sales and the TV release of its only feature film from 2015.
- Adjusted earnings of $48.1M excluded a $6.1M restructuring charge it announced in January. EPS came to $0.55, but including the impact of the charge, its $0.48 soundly surpassed an expected $0.16.
- Home, its only feature film of 2015, contributed film segment revenue of $55.3M in the quarter, mainly due to to pay TV and home entertainment. The Penguins of Madagascar contributed $13.8M.
- Conference call to come at 4:30 p.m. ET.
- Press Release
Tue, Feb. 23, 4:05 PM
Mon, Feb. 22, 5:35 PM
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Mon, Feb. 22, 12:41 PM
- Deadpool (FOX +2.1%, FOXA +2.4%) again led U.S. box office easily with a solid $55M, and has become an unlikely R-rated global phenomenon, topping $490M worldwide.
- Its nearest competitor was Kung Fu Panda 3 (DWA +4.7%, Fox distributing), which drew $12.5M to edge a solid pair of new releases. Panda has grossed $117.1M ($294.2M worldwide) in four weeks of release.
- Fox had expected $55M in an opening weekend for Deadpool -- not its second week -- so its $150M opening was a pleasant surprise. The film has logged $235.4M domestically.
- Sony's (SNE +1.7%) biblical drama Risen debuted to a third-best $11.8M, making it one of the biggest faith-based openings of all time (a list including The Passion of the Christ, Son of God and Heaven is for Real). Meanwhile, The Witch was the weekend's No. 4 film with $8.7M, marking the best premiere for independent label A24.
- Star Wars watch: In its 10th week of release, The Force Awakens (DIS +1.8%) drew $3.8M to bring its all-time best domestic total to $921.6M, and its worldwide cumulative total to $2.04B.
- Previously: 'Deadpool' smashes records for Fox with $150M holiday opening (Feb. 16 2016)
Mon, Feb. 8, 3:06 PM
- With millions of viewers taking in the de facto national holiday of the Super Bowl, box office receipts slipped 8% Y/Y and those who did get out had little to excite them aside from a fighting panda and the Coen Bros.
- Total box office was $93.5M, compared to an American Sniper-boosted $101.8M last year. Kung Fu Panda 3 (DWA -1.9%, Fox distributing) led easily for the second week in a row, drawing $21M to bring its total to $69M. Meanwhile, the Coen Brothers' Hail, Caesar! (CMCSA -0.9%) performed as expected (lightly) with $11.4M to fall into No. 2.
- The Revenant (FOX -2.8%, FOXA -3%) with $7.1M, again edged Star Wars: The Force Awakens (DIS -3.9%) and its $6.9M for third place. New films The Choice (LGF +0.3%) and Pride and Prejudice and Zombies disappointed with $6.1M and $5.2M respectively.
- In Star Wars marks, the film crested $900M domestically to add to its best-ever total, and crossed the $2B global-gross milestone over the weekend, getting it closer -- but not too close -- to Titanic's $2.19B.
- With a $178M gap to cross, it may take a long engagement for Star Wars to surpass Titanic's global numbers, and it's unlikely to catch Avatar ($2.78B) for the all-time global crown. Disney reports earnings tomorrow.
Mon, Feb. 1, 4:42 PM
- Walt Disney (NYSE:DIS), Lions Gate (NYSE:LGF) and 20th Century Fox (FOX, FOXA) have led a $50M funding round for Atom Tickets, a firm with a mobile movie-ticketing app that allows for advance purchases of movie tickets and even concessions.
- Disney Chief Strategy Officer Kevin Mayer pointed to social as the root of their interest: “Their technology not only adds value to the consumer, but also helps movie studios and theaters by providing deep consumer insights, advanced analytics, and concession and ticket couponing.” It allows for groups to coordinate moviegoing while still being able to split the ticket prices.
- Dynamic pricing -- which could help theaters fill unsold seats in screenings -- may be in the future as well. The app is trying to cross moats around well-known brands in Fandango, owned by NBCUniversal (NASDAQ:CMCSA), and MovieTickets.com.
- Meanwhile Fandango has bought streaming service M-GO from joint venture owners Technicolor (OTCQX:TCLRY) and DreamWorks Animation (NASDAQ:DWA). Terms weren't disclosed.
- It wants to build "new moviegoing products and services," and NBCUniversal has talked about working with Technicolor on virtual and augmented reality.
Mon, Feb. 1, 2:12 PM
- Kung Fu Panda 3 (DWA -7.5%, Fox distributing) was victorious at the weekend box office, dominating with a $41M domestic showing that easily surpassed holiday holdovers.
- The Revenant (FOX -0.7%, FOXA -0.4%) drew $12.4M to bring its cumulative take to $138.2M, and Star Wars: The Force Awakens (DIS -0.6%) edged Disney's newcomer, rescue film The Finest Hours, for third place with $10.8M.
- The Force Awakens' seventh weekend brought its all-time best domestic total to $895.4M, and the film should cross $2B in total global gross by next weekend.
- Kung Fu Panda's success helped the recovery of a box office hit by a winter storm last week. Overall grosses were up 30% Y/Y (though last year's comp was Super Bowl weekend).
Wed, Jan. 27, 11:03 AM
- DreamWorks Animation (NASDAQ:DWA) is off 6.8% as Topeka Capital Markets has downgraded to Sell.
- The firm has a $19 price target on the stock; shares are trading at $24.70 today but are still up 24.7% from a year-ago after a near-flat past six months.
- Earlier this month, B. Riley downgraded to Neutral with a $27 price target, while FBR & Co. upgraded shares to Outperform and bumped its own price target to $29 from a previous $22.
DreamWorks Animation SKG, Inc. engages in the business of development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. It operates through two segments: Film... More
Industry: Movie Production, Theaters
Country: United States
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