DreamWorks’ Q2 Revenues Drop by 25%
According to Wall Street’s estimates, DreamWorks Animation’s revenue has dropped by 25% from $218.3 million to $162.8 million, even though the studio’s latest release Madagascar 3 grossed over $2099.8 million domestically and $501.2 million worldwide as of July 30.
“DreamWorks Animation’s second quarter of 2012 was driven primarily by the box-office performance of Madagascar 3: Europe’s Most Wanted, the seventh-highest-grossing film of the year,” said studio CEO Jeffrey Katzenberg. “The third and biggest film in our blockbuster Madagascar franchise has surpassed $500 million at the worldwide box office to date, with a large number of key international territories yet to come.”
The third installment of the Madagascar franchise is responsible for $54.8 million of revenue to the latest quarter, while Puss in Boots contributed $22.8 million via its home entertainment release. The studio’s other 2011 release Kung Fu Panda 2 also fared well, thanks to domestic pay TV revenues, with an estimated $46.4 million revenue.