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Dreamworks Animation SKG Inc (DWA)

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  • Mon, Apr. 27, 1:13 PM
    • Romantic fantasy The Age of Adaline (NYSE:LGF), starring Blake Lively, earned $5M at the box office on Friday, just ahead of Furious 7's $4.9M -- then the rest of the weekend happened, and Furious 7 (NASDAQ:CMCSA) became the first film to lead domestic box office for four straight weeks since 2012's The Hunger Games.
    • The racing film took in $18.3M to run its domestic total to $320.5M.
    • Paul Blart: Mall Cop 2 (NYSE:SNE) took second place with $15.5M in its second week, and The Age of Adaline drew $13.4M in total, just ahead of Home's (NASDAQ:DWA) $8.3M.
    • Furious 7's $1.3B global take makes it the fifth-highest grosser in history. Next up: Harry Potter and the Deathly Hallows: Part 2 at $1.34B.
    • Meanwhile, the film that will topple Furious 7 next weekend has already made a small mint overseas. Avengers: Age of Ultron drew $201M in overseas grosses (in only 55% of the global market) ahead of its May 1 U.S. release, presaging a massive haul for the Marvel (NYSE:DIS) sequel.
    • Its predecessor, Marvel's The Avengers, earned a record $207.4M domestically in its debut weekend in 2012.
    | Mon, Apr. 27, 1:13 PM | 3 Comments
  • Mon, Apr. 20, 1:07 PM
    • With its main competition coming from a security guard on a Segway, fast-driving Furious 7 (NASDAQ:CMCSA) led the box office for a third straight weekend with a healthy $29M, to close in on $300M domestically.
    • The Universal film outdrew the critically panned Paul Blart: Mall Cop 2 (NYSE:SNE), which clocked in with a surprisingly strong $24M. The film earned a fairly rare 0% on critic aggregator Rottentomatoes.com but is now projected to profit, considering its $30M budget.
    • As presaged by its fast start, Furious 7 blew past the $1B mark in global box office a few days ago.
    • Universal grabbed another win with Unfriended, an ultra-cheap ($1M budget) teen-bullying horror that earned $16M, good enough for third place over the $10.3M earned by animated feature Home (DWA +1.5%). In its fourth weekend, Home (the best bit of news for DreamWorks in some time) has tallied $142.6M.
    • On the other side of the spectrum, Child 44 (NYSE:LGF) -- which was banned in Russia -- debuted with just $600K in 510 theaters, a terrible trajectory for a film that cost $50M to make.
    | Mon, Apr. 20, 1:07 PM | Comment!
  • Thu, Apr. 16, 1:31 PM
    • Verizon (NYSE:VZ) is turning to college sports for its mobile-first streaming video service, inking deals with a number of partners to fill out an offering that should have 20-30 channels later this year.
    • The company has deals with ACC Digital Network, Campus Insiders, CBS Sports, ESPN and 120 Sports to join its deal for 200 hours with Awesomeness TV (NASDAQ:DWA).
    • What does Verizon get? "Dozens of live major college games" from CBS and "select live college football and college games" as well as original-entertainment shows like 30 for 30 from ESPN (NYSE:DIS).
    • Pricing and packaging for the service are still unresolved, but Verizon does plan to offer it only via its mobile data plans at first.
    | Thu, Apr. 16, 1:31 PM | Comment!
  • Wed, Apr. 15, 8:01 PM
    • Jeffrey Katzenberg, CEO of DreamWorks Animation (DWA +2.5%), took a 53% pay cut in 2014, reducing his pay to $6.4M from $13.5M, an aftershock of the studio's poor year, according to the company's proxy statement.
    • The difference? Mainly $6M in incentive pay that he received in 2013 but not in 2014. Other executives, including president Ann Daly and chief global brands officer Michael Francis, also saw their bonus pay vanish.
    • The company's first good news in a long time has come with the results of Home, its only 2015 release, which has drawn more than $130M in domestic grosses and $243M worldwide to break a string of flops. So some significant stock grants could come the execs' way if the company is in the black at the end of 2015 and 2016.
    • Previously: DreamWorks up 8% as moviegoers bring 'Home' the bacon (Mar. 30 2015)
    | Wed, Apr. 15, 8:01 PM | Comment!
  • Mon, Apr. 13, 4:28 PM
    • Furious 7 topped domestic box office for the second straight weekend and kept on a straight course toward becoming the first in its seven-film series to gross $1B worldwide.
    • The record-seeing Universal (NASDAQ:CMCSA) film took $60.6M to bring its two-week U.S. total to $252.5M. It's one of only a dozen movies to reach $60M in its second weekend.
    • The film cruised past $800M globally, playing in 66 territories, and pushed the Fast & Furious series over $3B in grand total grosses.
    • Home (NASDAQ:DWA) continued to hold up in its third week, finishing second with $19M ($129.6M overall), just ahead of romantic new entrant The Longest Ride, with $13M.
    • Cinderella (NYSE:DIS) and Insurgent (NYSE:LGF) slipped to Nos. 5 and 6 respectively. Cinderella took $7.1M to bring its five-week haul to $180.7M ($436.8M worldwide), and Insurgent drew 6.7% to bring a four-week total to $114.7M ($250M worldwide).
    | Mon, Apr. 13, 4:28 PM | Comment!
  • Fri, Apr. 10, 8:59 PM
    • Paramount Pictures' Interstellar (VIA, VIAB) debuted strong on top of the home-entertainment charts, surpassing some solid competition.
    • The film topped The Hobbit: The Battle of the Five Armies (NYSE:TWX) on Nielsen's VideoScan sales chart (DVD and Blu-ray).
    • The top five was rounded out by Big Hero 6 and Into the Woods (NYSE:DIS), and Penguins of Madagascar (DWA, FOXA).
    • The Hobbit sold 57% of Interstellar's units but only 39% of the Blu-rays of the visual-and-sound-heavy space adventure. Blu-rays accounted for 70% of total Interstellar sales.
    • The rampaging success of Furious 7 (NASDAQ:CMCSA) pushed the two previous series films, Fast Five and Fast & Furious 6, back into the top 20.
    | Fri, Apr. 10, 8:59 PM | 7 Comments
  • Mon, Apr. 6, 10:59 AM
    • Furious 7 exceeded all expectations and smashed an April box-office record with a $143.6M weekend -- and big international receipts of $204.4M (from 10,500 screens in 63 territories) point to a massive winner for Universal (CMCSA +0.5%).
    • Notably for a sequel -- where follow-ups usually do a fraction of the first film's business -- the newest entry got the biggest opening weekend of the seven-film series. And it has a relatively clear path to hundreds of millions more before May 1 brings the competition of a new Avengers.
    • Home, the sole 2015 release from DreamWorks Animation (DWA +1.7%), held up well in its second weekend with $27.4M, for a two-week total of $95.6M.
    • Will Ferrell-Kevin Hart comedy Get Hard (NYSE:TWX) took third place with $12.9M ($57M total gross), while Cinderella (DIS; $10.3M; $167.3M total) and Insurgent (LGF; $10M; $103.4M total) were fourth and fifth.
    • Previously: Box office sales and in-theater spending trending strong (Apr. 05 2015)
    • Previously: Holiday movie weekend: Universal to get 'Furious' opening (Apr. 03 2015)
    | Mon, Apr. 6, 10:59 AM | 1 Comment
  • Fri, Apr. 3, 10:00 AM
    • With a few small dramas and documentaries in competition, the way is clear for Universal's (NASDAQ:CMCSA) Furious 7 to dominate the box office, and early receipts suggest the film is well on track toward an April-record $115M weekend.
    • The seventh entry in the Fast and the Furious racing franchise pulled a strong $16.9M in a limited 34-market run on Wednesday, including 12 international markets. It opened in 33 more markets Thursday and will run in 63 markets over the weekend.
    • Other eyes will be on Home -- the high-stakes sole 2015 release for DreamWorks Animation (NASDAQ:DWA) -- to see if it can get legs from last week's strong $54M debut, and on whether Insurgent (NYSE:LGF) and Cinderella (NYSE:DIS) can stretch out gains from their female-heavy audience.
    | Fri, Apr. 3, 10:00 AM | 5 Comments
  • Mon, Mar. 30, 9:52 AM
    • DreamWorks Animation (NASDAQ:DWA) is up 8.2% after Home -- its only film release for 2015 -- led the weekend box office and beat its own expectations with $54M, the company's third-largest non-sequel opening.
    • Following a series of flops for DWA, the film was expected to draw about $30M-$35M.
    • Home is another standout child-focused success in a year filled with adult fare so far. R-rated prison comedy Get Hard (NYSE:TWX) took the No. 2 spot, drawing $34.6M.
    • Insurgent (NYSE:LGF) and Cinderella (NYSE:DIS) followed those two, adding to their considerable takes with $22M and $17.5M respectively. New foreign markets joined Cinderella, pushing it to more than $300M globally, and Insurgent has made $180M worldwide.
    • Kingsman: The Secret Service is a hit with legs for Twenty-First Century Fox (NASDAQ:FOXA), plugging away at sixth place this week (its seventh) with $3M, and passing $300M globally.
    • Previously: DreamWorks up 7.7%, on two-day surge as planning takes shape (Mar. 04 2015)
    | Mon, Mar. 30, 9:52 AM | 5 Comments
  • Thu, Mar. 12, 11:57 PM
    • The MPAA's report on global box office notes that 2014 sales were up 1% to $36.4B, lifted by China's industry -- the first time that Asian revenues passed those of other regions.
    • China's $4.8B made it the first foreign market to exceed $4B a year. Domestic sales of $10.4B were down 5%.
    • In 2013 the three major regions (North America, Europe/Middle East/Africa, Asia Pacific) essentially tied, but 2014 was the year of Asian box office share: 34.1% vs. 29.1% in EMEA and 28.6% in North America.
    • Among worries for the industry, The Hollywood Reporter notes 32% of North America's audience didn't go to a movie at all, and that steep dropoffs in ages 2-11 and 25-39 means the industry needs to look at long-term audience growth. (Frequent moviegoers make up just 11% of the population but buy 51% of the tix.)
    • The U.S. industry might be frontloaded for a rebound with a franchise- and sequel-heavy 2015 ahead, though.
    • Filmmakers: CMCSA, FOXA, TWX, VIA, DIS, DWA, SNE
    • Previously: DreamWorks touts Chinese venture, global projects (Mar. 04 2015)
    | Thu, Mar. 12, 11:57 PM | 1 Comment
  • Wed, Mar. 11, 7:59 PM
    | Wed, Mar. 11, 7:59 PM | Comment!
  • Wed, Mar. 11, 12:51 PM
    • DreamWorks Animation (NASDAQ:DWA) is up 2.3% as Verizon (NYSE:VZ) seals a deal to add 200 hours of original video content to its upcoming video service from DWA's AwesomenessTV and DreamWorksTV, targeting teens and young millennials with over-the-top video.
    • The programming will include scripted and unscripted series as well as DreamWorks original characters.
    • AwesomenessTV, acquired by DreamWorks in 2013, features 7B views and 112M subscribers.
    • The deal will take some pressure off what some, like BTIG's Richard Greenfield, see as a heavy dependence on Netflix.
    | Wed, Mar. 11, 12:51 PM | Comment!
  • Wed, Mar. 4, 8:45 PM
    • DreamWorks Animation's (NASDAQ:DWA) Chinese joint venture is "incredibly important" to the troubled company, CFO Fazal Merchant said today as attention turns from a rough Q4 to the next two years for the studio.
    • Thanks to co-founder Jeffrey Katzenberg's frequent visits to China, they're in a "blessed place" with Oriental DreamWorks, the partnership the studio formed with China Media Capital, Shanghai Media Group and Shanghai Alliance Investment to create family-friendly content.
    • The venture's first project, Kung Fu Panda 3, is due in 2016. The first two films in the Kung Fu Panda series drew worldwide grosses of $632M and $665M respectively, off production budgets of $130M-$150M.
    • Merchant was speaking at Morgan Stanley's Technology, Media & Telecom Conference and also proclaimed Netflix (NASDAQ:NFLX) "incredibly pleased" with their deal through 2017 (a good thing if DWA is as dependent on the streamer as rumored). "If there were issues, I don't think they'd be shy about telling us."
    • Shares finished the day up 5.7%.
    • Earlier: DreamWorks up 7.7%, on two-day surge as planning takes shape (Mar. 04 2015)
    • Previously: DreamWorks rallies -- but too dependent on Netflix? (Feb. 25 2015)
    • Previously: DreamWorks pummeled after brutal quarter; rough year ahead (Feb. 24 2015)
    | Wed, Mar. 4, 8:45 PM | Comment!
  • Wed, Mar. 4, 3:20 PM
    • DreamWorks Animation (NASDAQ:DWA) is surging toward the close, up 7.7% now (and +10.9% since Monday).
    • The stock's been swimming in bad news after an awful quarter, but investors may be beginning to listen to chief Jeffrey Katzenberg, who says he's re-focusing on the core film business after some distractions in TV, consumer products and digital.
    • He expects the company to break even this year, however. The way forward for the company's divisions is varied and all depends on some extent to making hit movies again.
    • In that case, Cowen's Doug Creutz is still skeptical: "In the near-term, we think the trailers for Home are among the least appealing we have seen from the company," he says, adding most long-term changes won't hit until 2016 or later. Home, coming out this month, is DWA's only scheduled release for 2015.
    • Previously: DreamWorks to sell campus HQ to SunTrust unit (Feb. 26 2015)
    • Previously: DreamWorks pummeled after brutal quarter; rough year ahead (Feb. 24 2015)
    | Wed, Mar. 4, 3:20 PM | Comment!
  • Thu, Feb. 26, 8:37 PM
    | Thu, Feb. 26, 8:37 PM | 1 Comment
  • Wed, Feb. 25, 7:11 PM
    • Despite an after-hours selloff Tuesday on a tough Q4 report, DreamWorks Animation (NASDAQ:DWA) ended today up 5.9% on more than double average volume.
    • Is it possible the worst is behind the studio? The company addressed short-term liquidity issues, using their call to detail its increased revolver and the $185M sale of its headquarters, and the reshuffled leadership is giving some hope to those expecting a refocus on core creative work.
    • There are still key challenges ahead even if restructuring goes well: Aside from the one release coming this year, BTIG's Richard Greenfield notes the firm may be way too dependent on Netflix -- "the only thing keeping DreamWorks solvent."
    • "DreamWorks filed an 8-K this morning revising their answer to our question admitting that Netflix represented nearly 15% of DreamWorks’ revenues in 2014, which equates to $102M ... Given the increased cadence of television series DreamWorks Animation will deliver to Netflix in 2015, it is not hard to imagine Netflix’s share of DreamWorks’s revenues rising" materially above that.
    • Complicating matters, Greenfield thinks the quality of content that DWA is sending Netflix is poor.
    | Wed, Feb. 25, 7:11 PM | 4 Comments
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Company Description
Dreamworks Animation SKG Inc creates and exploits family entertainment, including animated feature films, television series and specials, live entertainment properties and related consumer products.