Is Netflix DreamWorks Animation’s “Patron Saint?”
Although the animated children’s film genre saw some mega-hits this summer with Universal Pictures’ (NASDAQ:CMCSA) record-breaking Despicable Me 2 and Monsters University from the always dependable Disney (NYSE:DIS) Pixar, it wasn’t so easy for other animation studios trying to crack the summer box office.
But DreamWorks Animation SKG Inc. (NASDAQ:DWA), which saw its animated film Turbo languish in the saturated summer box office, is looking to its new deal with Netflix Inc. (NASDAQ:NFLX) as a way to modify is strategy moving forward — and Chief Executive Officer Jeffrey Katzenberg isn’t holding back his excitement.
“There’s not a minute of the day that I don’t think about how we can exceed their expectations,” Katzenberg said in an interview at Mipcom, the annual television fair in Cannes, France. “That’s our job as the supplier.”