DreamWorks Animation In Five-Year Deal With Fox
With the upcoming release of Rise Of The Guardians, serving as their last release for Paramount, DreamWorks Animation will be joining up with 20th Century Fox for all their marketing and distribution needs.
More details after the break.
Dreamworks is entering a five-year deal with Fox. The contract will have Fox assume certain marketing and distribution responsibilities, in both domestic and international markets for film produced by Dreamworks from 2013 to 2017.
Fox will receive a distribution fee on worldwide theatrical and home video gross receipts, on international television, as well as on certain digital businesses, including rentals, SVOD and EST. DreamWorks Animation will retain the rights to distribute its product in the domestic television windows without paying a fee to Fox.
“Fox has long been an industry leader in both theatrical and home video thanks in large part to its well-integrated approach to distribution across a wide range of platforms around the globe,” said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. “Jim Gianopulos and Tom Rothman have built a world-class distribution team and we are excited to apply their expertise, robust infrastructure and global resources so that DreamWorks Animation’s films can reach their fullest possible potential over the next five years.”
“DreamWorks Animation is a great company that makes terrific films and everyone here feels privileged and honored to have been chosen to distribute their marvelous work throughout the world,” stated Fox Filmed Entertainment CEOs and Chairmen, Jim Gianopulos and Tom Rothman. “We are particularly excited to add DreamWorks Animation’s films to the strong and growing slate of movies from our outstanding Blue Sky Studios division, which is coming off another global blockbuster with Ice Age:Continental Drift, and has EPIC and RIO 2 in advanced production. Together we will be a dominant force in animated entertainment for years to come.”
“Starting in 2013, DreamWorks Animation content will be distributed in the more traditional markets under a fee structure that is similar to our existing arrangement with our current distributor,” continued Katzenberg. “However, our new agreement with Fox presents more favorable economics overall for DreamWorks Animation because we are taking advantage of lower costs associated with the emerging digital distribution landscape and managing domestic television distribution in-house.”
In the meantime, Paramount will fill the void by DreamWorks departure with their own animation department: Paramount Animation.