DreamWorks Animation and Netflix Sign Original Content Deal
DreamWorks Animation SKG, Inc. has signed a multi-year deal with Netflix to provide 300 hours of original programming, with the first new shows set to premiere some time next year (one of which, Turbo F.A.S.T. based on the unreleased film Turbo, was announced in February this year). The new programming will be “inspired” by DreamWorks Animation’s hit films and from holdings in the Classic Media library (such as Casper the Friendly Ghost, She-Ra, and Mr. Magoo) which DreamWorks acquired last year. The move is being interpreted as a diversification of income streams for DreamWorks, which is currently highly dependent on its feature film slate and where box office flops have had outsized impact on the company, as well as a bid to tap the youth audience, which is more prone to streaming content over the Internet. DreamWorks CEO Jeffrey Katzenberg is expected to outline his TV strategy on a conference call on Tuesday with analysts and reporters.