International
DreamWorks Animation reports net loss of $36.4 mn for the fiscal
MUMBAI: DreamWorks Animation has reported total revenue of $749.8 million and a net loss of $36.4 million for the fiscal ended 31 December 2012.
For the fourth quarter of the fiscal, the company reported total revenue of $264.7 million and a net loss of $82.7 million.
Impacting DreamWorks Animation‘s fourth quarter and full-year 2012 results is a charge of approximately $165 million, which includes a write-down of film costs for ‘Rise of the Guardians‘ in the amount of $87 million, charges totaling $54 million related to the company‘s decision to return ‘Me And My Shadow‘ back to development, a write-off of a number of other development projects in the amount of $20 million and a charge of $4.6 million related to restructuring activities.
DreamWorks Animation CEO Jeffrey Katzenberg said, “While ‘Rise of the Guardians‘ did not achieve the level of box office success that we have come to expect from a DreamWorks Animation film, we have made several changes to our future slate that we believe will position us well for the next two years. We are now looking ahead to our next release – and our first under our new distribution agreement with Twentieth Century Fox – ‘The Croods‘ on March 22, 2013.”
‘Rise of the Guardians‘, which has grossed $302.3 million at the worldwide box office, contributed revenue of $6.1 million to the quarter.‘
‘Madagascar 3: Europe‘s Most Wanted‘, which has grossed $746.6 million at the worldwide box office, contributed revenue of $95.2 million to the quarter, primarily from home entertainment and international box office. The film reached an estimated six million net home entertainment units sold worldwide through the end of the fourth quarter, net of actual and estimated future returns.
‘Puss In Boots‘ contributed $10.5 million of revenue to the quarter, primarily from pay television and home entertainment. The film reached an estimated 6.2 million home entertainment units sold worldwide through the end of the fourth quarter, net of actual and estimated future returns.
‘Kung Fu Panda 2‘ contributed $4.8 million of revenue to the quarter, primarily from home entertainment. The film reached an estimated 6.5 million home entertainment units sold worldwide through the end of the fourth quarter, net of actual and estimated future returns.
Library, which now includes ‘Megamind‘, contributed approximately $63.4 million of revenue to the quarter. Other items, including holiday television specials and live theatrical properties, contributed approximately $53.1 million of revenue to the quarter. Classic Media contributed approximately $31.6 million of revenue to the quarter.
Costs of revenue for the quarter equaled $354 million. Selling, general and administrative expenses totaled $36.5 million, including approximately $3.1 million of stock-based compensation expense.
The company‘s income tax benefit for the fourth quarter was $42.4 million. The company‘s combined effective tax rate – the actual tax rate coupled with the effect of the Company‘s tax sharing agreement with a former stockholder – was approximately 34.3 per cent for the fourth quarter.
The company‘s full year 2013 results are expected to be driven primarily by the performance of ‘The Croods‘, which is scheduled to be released on 22 March and ‘Turbo‘, which is scheduled to be released on 19 July.
International
Moskino and Bollywood: Moscow Film Cluster and Film City Mumbai signed a cooperation agreement
Moscow Film Cluster has signed a cooperation agreement with Film City Mumbai. The parties agreed to cooperate in developing the film industry, promoting shooting locations and supporting filmmakers.
The memorandum was signed on the sidelines of the India International Film Tourism (IIFTC) Conclave in Mumbai. At this forum, the Moscow Film Cluster presented Moscow’s opportunities for film shooting, including infrastructure projects such as Film City Moskino and Film Factory. Special attention was paid to the Moscow rebate system – up to 45% – and the co-production development.
Memorandum of Understanding between the Film City and Moscow Film Cluster provides for the establishment and development of mutually beneficial cooperation in the film industry development, including joint promotion of shooting locations, support for filmmakers, implementation of marketing and industry events, development of incentive support measures and strengthening of economic and cultural interaction between India and Moscow.
The parties also intend to promote the development of the audiovisual sector through the exchange of experience, joint initiatives and the search for opportunities to create new industry partnerships and clusters.
Moscow Film Cluster is a major city initiative led by Moscow Mayor Sergei Sobyanin to develop the capital into a global cinema hub. It brings together key production infrastructure – such as the Moskino Film Сity, Film Factory and Gorky Film Studio – along with the Film Commission, digital platform and cinema chain to streamline shooting, support productions and attract international filmmaking to Moscow.
Also, Moscow offers a rebate of up to 45%: 30% as direct production cost compensation, up to 15% for visa and accommodation support. The Moscow Image Grant provides up to $255,000 for films showcasing iconic city views.
The Moscow Film Cluster booth attracted considerable attention from Indian producers and studios. Over 80 business meetings were held, including those with major Indian companies.
One of the booth guests was the famous Indian actress Khushboo Sundar, known to Soviet and Russian audiences for her role in My Soul and considered the leading star of Tamil cinema, in whose honor one of the local temples was even built. Prithul Kumar, representative of the Indian Ministry of Information and Broadcasting and one of the officials responsible for regulating the film industry in the country, also expressed interest in the development of the Moscow Film Cluster.
One of the highlights of the India International Film Tourism Conclave was the awarding of The Greatest of All Time in the For Cinematic Excellence category. The movie was shot in Moscow. The jury members noted the project’s contribution to the development of tourism.
The shooting of The Greatest of All Time AGS by Entertainment was organized with the assistance of the Moscow Film Cluster and the Moscow Film Commission and took place in April 2024 on the streets of Moscow. The scenes were shot in such famous locations as Patriarch Bridge, Teatralnaya Square, Manezhnaya Square, Kazarmenny Lane, Podsosensky Lane, Nikolskaya Street and one of the festival venues of Moscow Seasons.
The Greatest of All Time became a landmark event in Indian box office history. It ranked fourth in box office earnings among all movies released in India in 2024 and is one of the most successful Tamil-language movies in history.
At the same time, the shooting of another joint Russian-Indian movie started at the Moskino Film City in Moscow. A film project dedicated to badminton became one of the first participants in the Moscow rebate program.
A project by Smena & WISH Media (Russia) and Kartina Entertainment And Sports Private Limited (India) will tell the story of a badminton player who travels to India with the Russian national team to compete in a tournament. Russian viewers will see for the first time the scale of sporting competitions in Asia, where badminton is a cult sport and draws packed stands of fans.
The agreement on the joint production of the Smash movie was signed st the Moscow International Film Week in August 2025. And as Moscow Mayor Sergei Sobyanin said, a rebate application was also submitted at that time to reimburse part of the costs incurred during the shooting process in the Russian capital.
