DreamWorks Pictures, also known as DreamWorks SKG and DreamWorks, is an American film studio and distribution label of Amblin Partners. The company was originally founded on October 12, 1994, as a live-action and animation film studio by Steven Spielberg, Jeffrey Katzenberg, and David Geffen (which together form the SKG of DreamWorks SKG), at which time they owned 72%. From 1997 to 2005, DreamWorks distributed its own films and its third-party films, with Universal Pictures handling worldwide home video distribution during that period. It has released, produced, and/or distributed more than ten films with box-office grosses of more than $100 million each.
DreamWorks Pictures was sold to Viacom, parent of Paramount Pictures in 2006 (this version is now named DW Studios, LLC). In 2008, DreamWorks announced its intention to end its partnership with Paramount and made a deal to produce films with Reliance Anil Dhirubhai Ambani Group, re-creating DreamWorks Pictures as an independent entity. The following year, DreamWorks entered into a distribution agreement with Walt Disney Studios Motion Pictures, wherein Disney would distribute DreamWorks films through the Touchstone Pictures label; the deal continued until August 2016. Since October 2016, Universal Pictures has distributed most of the films produced by DreamWorks Pictures. Currently, DreamWorks operates out of offices on the Universal Studios Lot.
DreamWorks is also distinguished from its eponymous former animation division. Following the critical success of Shrek (2001), which won the first-ever Academy Award for Best Animated Feature at the 74th Academy Awards ceremony, the animation division was later spun off into its own separate company in 2004 and acquired by Comcast (through NBCUniversal) in 2016. Spielberg's company continues to use the original DreamWorks trademarks under license from its animation counterpart.
Contents
History
Founding and Universal distribution (1994–2005)
The original company was founded following Jeffrey Katzenberg's resignation from the Walt Disney Company in 1994. Katzenberg approached director Steven Spielberg and music executive David Geffen about forming a live-action and animation film studio, which had not been done in decades due to the risk and expense, but all three were very successful. They agreed on three conditions: They would make fewer than nine movies a year, they would be free to work for other studios if they chose, and they would go home in time for dinner. They officially founded DreamWorks SKG on October 12, 1994, with financial backing of $33 million from each of the three partners plus $500 million from Microsoft co-founder Paul Allen, and $300 million from CJ Group heiress Miky Lee, giving the CJ Group an 11% stake in DreamWorks; the deal was also initially understood to include distribution rights to DreamWorks films across Asia excluding Japan, although CJ ultimately handled rights for only China, South Korea and Hong Kong, with all other international territories handled by United International Pictures (UIP). Their new studio was based at offices on the Universal Studios Lot, in the same bungalow as Amblin Entertainment. Despite access to sound stages and sets, DreamWorks preferred to film motion pictures on location. Usually, however, the company would film in a soundstage or set in a major studio. Shortly after DreamWorks was founded, the media dubbed Spielberg, Katzenberg and Geffen as "the three amigos". Despite Geffen's initial investment, it was reported in October 1994 that DreamWorks would only produce live-action and animated films, television programs and interactive entertainment. There were rumors that Warner Bros. Records CEO Mo Ostin might collaborate at DreamWorks with Geffen, who himself was still contracted to work at Geffen Records. The company eventually expanded into music once Geffen stepped down from Geffen Records in April 1995, and Ostin would be hired as leader of DreamWorks' music operations that October. By 1998, DreamWorks was labelled as "multifaceted entertainment", with the company describing its ambition in 1997 as being to nurture creative breakthroughs in "every field" of entertainment.
In December 1994, DreamWorks Television was formed after DreamWorks agreed to a $200 million seven-year television production joint venture with Capital Cities/ABC. The company was set up to produce series for broadcast networks, cable channels and first run syndication, with no first-look guarantee for ABC, but financial incentives favored the network. Their first show, Champions, was scheduled as a mid-season replacement for ABC. Dan McDermott was named the division's chief executive in June 1995. DreamWorks Television's first success was Spin City on ABC, the parent company of which was bought by The Walt Disney Company in February 1996. In 2002, the DreamWorks joint venture agreement with ABC ended. That agreement was replaced by a development agreement with NBC, with a first look clause. In September 2013, DreamWorks Television merged with Amblin Television.
Paramount ownership (2005–2008)
In December 2005, it was announced the original Viacom, the then-parent of Paramount Pictures, agreed to purchase the live-action studio, still keeping the original name and producing/distribution name. The deal was valued at approximately $1.6 billion, an amount that included about $400 million in debt assumptions. Throughout most of 2005, DreamWorks Pictures was widely expected to be acquired by newly formed NBC Universal, parent of Universal Pictures and majority owned by General Electric (GE) (with the remainder owned by Vivendi as a result of GE's acquisition of a majority stake in that company's Vivendi Universal division which included Universal Pictures and related assets and merger of it with their NBC division to form NBC Universal). The transaction was viewed by industry analysts as a natural fit due to Spielberg's decades-long history with Universal Pictures and the fact that DreamWorks had utilized the Universal Studios lot for its headquarters and international distribution since its founding. Exclusive negotiations between DreamWorks and NBC Universal lasted for approximately nine months, with exclusive talks beginning in July 2005. By September 2005, the two parties had reportedly reached a verbal agreement for a sale valued at roughly $1.5 billion to $1.6 billion. However, towards the end of negotiations that month, GE attempted to lower their offer by approximately $100 million, and this last minute reduction angered Geffen. Another issue was that GE would effectively reduce DreamWorks Pictures to being a production label of Universal Pictures rather than a standalone company within NBC Universal. This was an unacceptable condition for Spielberg, who was far less involved with the negotiations than Geffen was. In late September 2005, it was speculated that talks between DreamWorks and NBC Universal might eventually resume at a later point. As the talks stalled, Viacom unexpectedly entered the bidding. Led by Paramount's new Chairman Brad Grey, they moved aggressively to propose their own offer in early December 2005. DreamWorks accepted Viacom's offer on December 9, 2005, with the deal being announced to the media two days later. In a public statement from December 2005, Spielberg said, "due to my very long history and my loyalty to Universal, I was saddened that after long negotiations and many compromises, we were unable to come to terms with Universal's parent company, GE." Regarding NBC Universal/GE, Geffen said in December 2005, "I think they thought we had no choice, and were going to squeeze us and squeeze us. After a year of dealing with them, they still did not have a concluded, finished contract ready to sign."
The acquisition of the live-action DreamWorks studio was completed by the second iteration of Viacom, which had recently split from the original at the end of 2005, on February 1, 2006. DreamWorks Pictures would briefly become a semi-autonomous label of Paramount Pictures. A key reason for Viacom's acquisition was due to a severe shortage in Paramount's own film production pipeline for 2006–2007, after Grey's new regime canceled many pre-existing projects. Spielberg and Geffen were still involved with the company under Paramount, although Geffen eventually departed in 2008 since he was interested in reinventing himself as a newspaper mogul. Katzenberg was now working at the newly independent DreamWorks Animation, and remained there until its sale to NBCUniversal in 2016, which left Spielberg as the only one of the three founders currently involved with either DreamWorks company. Viacom's 2006 purchase of DreamWorks Pictures included a separate deal for Paramount to distribute new films by DreamWorks Animation over a six-year period. Viacom also held the rights to co-produce television shows based on DreamWorks Animation characters, via their children's division Nickelodeon.
Reliance-Spielberg joint venture and Disney distribution (2008–2015)
In June 2008, it was reported that DreamWorks Pictures was looking for financing that would allow it to continue operations, but as an independent production company, once its deal with Paramount ended later that year. Several public equity funds were approached for financing, including Blackstone Group, Fuse Global, TPG Capital and several others, but all passed on the deal given their understanding of the Hollywood markets. On September 22, 2008, it was announced that DreamWorks closed a deal with Indian investment firm Reliance Anil Dhirubhai Ambani Group to create a $1.2 billion stand-alone production company and end its ties with Paramount. In January 2009, Spielberg entered a licensing agreement with DreamWorks Animation to use the DreamWorks trademarks, logo, and name for film productions and releases.
As part of the 2008 separation agreement with Paramount/Viacom, they retained an option to co-finance and co-distribute 15–20 upcoming DreamWorks Pictures projects. As a result of this deal, Paramount Pictures currently own the rights to most live-action DreamWorks films that were released between 1997 and 2010.
On February 9, 2009, DreamWorks Pictures entered into a long-term, 30-picture distribution deal with Walt Disney Studios Motion Pictures, by which DreamWorks' films would be released through the Touchstone Pictures banner, with Disney collecting a 10% distribution fee. Despite signing the deal in early 2009, DreamWorks Pictures only started releasing films through Disney/Touchstone in 2011. The deal also included co-funding via a $175 million loan by Walt Disney Studios to DreamWorks for production and access to slots in Disney's pay television agreement, then with Starz. The agreement was reported to have come after negotiations broke off with Universal Pictures just days earlier. DreamWorks raised $325 million from Reliance Entertainment and an additional $325 million in debt in 2009. On August 18, 2009, DreamWorks and Reliance signed a three-year, $825 million pact for up to six films a year.
DreamWorks' slate of films in 2011, I Am Number Four, Cowboys & Aliens, and Fright Night failed, while The Help, Real Steel and Spielberg's War Horse had success at the box office. This left DreamWorks so financially drained that by 2011, DreamWorks was seeking additional funding from Reliance. Reliance gave a $200 million investment on April 10, 2012. Under the deal, DreamWorks Pictures scaled back production to three films per year and sought co-financiers on big budget films, such as 20th Century Fox, which would later that year enter a five-year distribution deal with DreamWorks Animation, would co-finance and handle international distribution for Lincoln and Bridge of Spies. DreamWorks continued to have Disney distribute and market their films. On August 29, 2012, after renegotiating their agreement with Disney, DreamWorks formed a deal with Mister Smith Entertainment to distribute its films internationally excluding India (where Reliance Entertainment will distribute), while Disney would continue to distribute in North America, Latin America, Australia, New Zealand, Russia and some territories in Asia.
Amblin Partners venture and return to Universal (2016–present)
On September 2, 2015, it was reported that DreamWorks and Disney would not renew their distribution deal, which was set to expire in August 2016, with The Light Between Oceans being released in September as the final DreamWorks film distributed by Disney under their original distribution agreement. During that time, DreamWorks was in early negotiations with Universal Pictures to distribute its upcoming films. The contract allowing Spielberg to license the DreamWorks trademarks, name and logo from Jeffrey Katzenberg's DreamWorks Animation was set to expire on January 1, 2016, leading to media speculation that Spielberg would not renew the pact. Disney retained the film rights to the fourteen DreamWorks films it released, undee subsidiary DreamWorks II Distribution Co. LLC from DreamWorks and Reliance on December 11, 2015.
On December 16, 2015, Spielberg, Reliance, Entertainment One and Participant Media partnered to launch the content production company Amblin Partners, relegating DreamWorks to a brand for adult-themed films produced under the new company. In addition to DreamWorks, the new company also would produce films under the Amblin Entertainment and Participant banners. On the same day, Amblin Partners announced a five-year distribution deal with Universal, under which the company's films would be distributed and marketed by either the main Universal label or its specialty label, Focus Features. 2016's The Girl on the Train was the first film released under the new agreement, though a few films, like Office Christmas Party (2016), Ghost in the Shell (2017) and The Post (2017), were released by Paramount Pictures and 20th Century Fox respectively. Office Christmas Party and Ghost in the Shell were DreamWorks Pictures' first projects to have been done with Paramount since the 2008 split and DreamWorks' subsequent distribution relationship with Touchstone. Earlier in 2012, while the DreamWorks/Touchstone deal was in effect, a DreamWorks/Paramount film titled A Thousand Words was released, although this film originally began shooting in August 2008, while DreamWorks was still owned by Viacom. It had been delayed due to complications arising from the DreamWorks/Viacom split.
On February 15, 2017, Universal acquired a minority stake in Amblin Partners, which reunited a minority percentage of the live-action DreamWorks label with its former DreamWorks Animation division, which Universal acquired the year prior in 2016 and eventually handled distribution that began with How to Train Your Dragon: The Hidden World in 2019, after DreamWorks Animation's distribution deal with 20th Century Fox expired with the release of Captain Underpants: The First Epic Movie in 2017. In 2020, Netflix released the film The Trial of the Chicago 7, which was a co-production between DreamWorks Pictures, Paramount Pictures and several other parties. This was one of the 15–20 DreamWorks projects that Paramount originally considered co-financing/co-distributing in late 2008–2010, as part of the post-split deal they made with DreamWorks Pictures. The project would end up being delayed, and shooting did not begin until 2019.
Logo
Original
The original DreamWorks logo features a boy sitting on a crescent moon with a fishing rod at night. The general idea for the logo was the idea of the company's founder, Steven Spielberg, who wanted a CGI image. Illustrator Robert Hunt was commissioned to execute the idea as a painting, and he used his son as the model. The logo was then turned into a motion graphic at Industrial Light & Magic, in collaboration with Kaleidoscope Films, Dave Carson and Clint Goldman. It was animated by ILM animation supervisor Wes Takahashi. It is composed by John Williams.
Animation
The reimagined animation logo had music adapted from the track "Fairytale" for Shrek, based on the children's picture book of the same name by author William Steig. The logo was composed by Harry Gregson-Williams and made its debut in 2004, with the release of Shrek 2, a film which Gregson-Williams also composed. Two years after its acquisition by NBCUniversal in 2016, the logo received a new fanfare composed by John Powell and incorporate some cues from Shrek 2 and tones from Williams' original DreamWorks fanfare to create the music for the logo. The new fanfare debuted in 2019, with the release of How to Train Your Dragon: The Hidden World, a film for which Powell also composed. In 2022, Harry Gregson-Williams returned to compose a new version of the fanfare, with the debut of Puss in Boots: The Last Wish.
DreamWorks Home Entertainment
DreamWorks Home Entertainment was a home media unit of DreamWorks Pictures and banner for other home media units, formed on March 10, 1998. Its releases were first distributed by Universal Pictures Home Entertainment (and initially through CIC Video internationally). In May 2006, after DreamWorks Pictures was purchased by Viacom three months earlier, DHE became a label of Paramount Home Entertainment used for films released under the live-action DreamWorks banner until it was shuttered in the summer of 2009, when DreamWorks spun-off itself from Paramount and became an independent company.
DreamWorks' library of film releases are currently owned and distributed by various studios. The pre-2011 library is owned by Paramount (DW Studios, LLC); the 2011–2016 library (DreamWorks II Distribution Co., LLC) is owned by Walt Disney Studios Home Entertainment, and the majority of the 2016–present library by Universal Pictures Home Entertainment.
Filmography
Primary owners and distributors
Universal Pictures(1997–2005 for DW Studios, LLC and DreamWorks Animation catalogs; 2016–present for Storyteller Distribution Co., LLC catalog; 2019–present for DreamWorks Animation catalog)
Paramount Pictures(2006–2012 for DW Studios, LLC and DreamWorks Animation catalogs)
Walt Disney Studios Motion Pictures(2011–2016 for DreamWorks II Distribution Co., LLC catalog)
20th Century Fox(2013–2017 for DreamWorks Animation catalog)
Universal Pictures Home Entertainment(1998–2006 for DW Studios, LLC & DreamWorks Animation catalogs; 2016–present for Storyteller Distribution Co., LLC catalog; 2018–present for DreamWorks Animation catalog)
Paramount Home Entertainment(2009–present for DW Studios, LLC catalog; 2006–2013 for DreamWorks Animation catalog)
Walt Disney Studios Home Entertainment(2011–present for DreamWorks II Distribution Co., LLC catalog)
20th Century Fox Home Entertainment(2013–2018 for DreamWorks Animation catalog)
Sony Pictures Home Entertainment(briefly in 2024 for DreamWorks II Distribution Co., LLC catalog via WDSHE)
Studio Distribution Services(2021–present for Storyteller Distribution Co., LLC and DreamWorks Animation catalogs via UPHE pre-SDS merger; 2024–present for DreamWorks II Distribution Co., LLC catalog via SPHE/WDSHE)