![]() "It's not lost on me that we went from the best track record in the business to the worst track record," Katzenberg said. Peabody & Sherman," Katzenberg also installed new management and scaled back the number of movies DreamWorks releases annually. After a string of box-office misses, including "Turbo" and "Mr. Last year, DreamWorks shed 20% of its workforce, closed its studio in Northern California and sold (and leased back) its Tuscan-style corporate headquarters. Most Chinese movies haven't cracked the global market.įor DreamWorks, "Kung Fu Panda" could give a welcome boost to a studio that once led the animation business with such hit franchises as "Shrek" and "Madagascar." If it succeeds, the movie would be a point of pride for a country that has placed a strategic priority on exporting movies that can do well around the world. It's going to take us a couple of years."įor China, "Kung Fu Panda 3" is more than just another movie. "For me, this is really the halfway point of our rebuilding to get the studio back to the consistency of success that we had for a very long period of time. "The filmmakers and the teams here and in Shanghai are very proud of this film and what they've done - it's a first-rate movie, but we're launching into some unknown territory," Katzenberg told The Times. Nonetheless, Katzenberg downplayed expectations for the film, noting that January is an unusual time to release an animated movie in the U.S.
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