The Chinese company’s goal is to become one of the world’s leading creators of high-quality animation content.
Upcoming plans for Oriental Dreamworks include films about world domination by cats, a supernatural Chinatown adventure, and an adaptation of “The Monkey King.”
Comcast NBCUniversal is looking to get rid of its ownership stake in Oriental Dreamworks.
Two slightly different versions of the film will be released in China.
A veteran of Hollywood companies like Disney and Nickelodeon, Peilin Chou is the new exec heading up Oriental DreamWorks’ big plans for the future.
At least one DreamWorks animated film has lost money for the past three years in a row: “Rise of the Guardians” in 2012 had an $87 million writedown; “Turbo” in 2013 resulted in a $13.5 million writedown; and this year’s “Mr. Peabody & Sherman” caused a $57 million writedown. This is rather obviously not a sustainable trend from a business standpoint, and investors are beginning to worry about the studio’s long-term prospects.
Last week DreamWorks revealed the first renderings of the Dream Center, a 40-acre, $2.4 billion development in Shanghai, China. Scheduled to open in 2017 (or early-2018), the site will house the Oriental DreamWorks production studio, which is currently working on “Kung Fu Panda 3,” as well as the world’s largest IMAX screen, eight outdoor plazas, hotels, restaurants, theaters, galleries, and tourist attractions.