Are Family Movies Recession-Proof?
There are a few things that seem to be recession-proof, and CG-animated family movies are in that category, says DreamWorks Animation CEO Jeff Katzenberg.
He recently talked up his company’s resilience to the global recession and outlined its film slate through 2012, including new installments to the "Madagascar" and "Kung Fu Panda" franchises. "Kung Fu Panda 2" is scheduled for a June 2011 release, and "Madagascar 3" for summer 2012.
It’s somehow comforting to think that family movies might not be swayed by a spiraling economy. You have to wonder why. Maybe it’s because family movies are usually a good way to spend time together. And they’re also a fun escape from any dire financial situations we might be facing.
I’ve often thought that people go to light-hearted movies more during hard times. It takes our mind off of things, offers a good escape from the world, and is just plain fun, no matter what’s going on outside the theater.
Katzenberg has a more scientific theory as to why DreamWorks is doing well. He says it’s because the company isn’t dependent on advertising and subscription businesses, which "clearly sets us apart," he said at the company’s recent investor and analyst day in midtown Manhattan.
Analysts have cited DWA’s pure-play entertainment focus as a major reason why the company’s stock has fared better than that of its peers in recent years. See? Back to my escapist theory.
"Panda," "Madagascar 2," and "Shrek 3" have pulled in $2 billion at the global box office. "Panda" and "Madagascar 2" will end the year inside the top 10 films of 2008.
Upcoming are 2009’s "Monsters vs Aliens," and 2010’s fourth "Shrek," "How to train your Dragon" and "Mastermind."
"There is tremendous resilience in movie going," said Katzenberg. "Wal-Mart and McDonald’s are about the only businesses that can say that … the greatest value and bargain that exists today is going to your local theater."
Images: DreamWorks Animation; The Hollywood Reporter
Tags: animated movies, brad pitt, dreamworks animation, Family-Movies, how to train your dragon, jeffrey katzenberg, kung fu panda, madagascar 2, mastermind, monsters vs aliens, movie industry, shrek 3Related Stories
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2 opinions for Are Family Movies Recession-Proof?
Are Family Movies Recession-Proof? « Movies, Films, Entertainment, Hollywood News
Feb 1, 2009 at 8:21 pm
[...] View original here: Are Family Movies Recession-Proof? [...]
Is DreamWorks Animation set to implode?
Feb 25, 2009 at 1:08 pm
[...] this is a little different report than I posted earlier this month. I don’t know about you, but I’ll be one sad puppy if this company, which helmed films like [...]
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