By Angela Ye
Well played, Jeffrey Katzenberg, well played. Like every other Hollywood player these days, DreamWorks Animation is trying to get its foot into the China market, and is currently in negotiations to establish a joint venture in Shanghai. They’ve already picked out Oriental DreamWorks as the name for their JV. Ooh, ahh, how cultural.
The studio will be working with a consortium of Chinese media companies, investing a total of $2 billion USD to help them get started.
The studio, which counts Kung Fu Panda, How to Train Your Dragon, Madagascar, and about 12 Shrek films amongst its properties, is also preparing to design theme parks (sound familiar?), in addition to producing animated films and TV shows geared towards the Chinese audience. They’ve wasted little time, with their first animated feature slated for release in 2015.
Incidentally, that’s just about the same time Disney is looking to open their new Shanghai-based theme park.
And although DreamWorks has intentions of opening a theme park, they will still be mostly focusing on the film and animation route. Which is just plain silly, since a well-done Kung Fu Panda Land would bring in the renminbucks like you wouldn’t believe.