International
Puss in the Boots drives DreamWorks’ first quarter results
MUMBAI: DreamWorks Animation SKG (DWA) has reported total revenue of $136.1 million and net income of $9.1 million for its first quarter ended 31 March, driven primarily by the success of Puss in the Boots.
The animated action comedy film, which has grossed approximately $554 million in worldwide box office to date, contributed $73.6 million of revenue to the quarter, driven primarily by home entertainment and international box office. The film reached an estimated 3.8 million home entertainment units sold worldwide through the end of the first quarter, net of actual and estimated future returns.
“DreamWorks Animation‘s first quarter of 2012 was driven primarily by Puss In Boots‘ continued success at the international box office and the solid performance from its home video release to date. We look forward to releasing the third chapter of our blockbuster Madagascar franchise in theaters on June 8th,” said DreamWorks Animation CEO Jeffrey Katzenberg.
Kung Fu Panda 2, the company‘s summer 2011 release, contributed $14.1 million of revenue to the quarter, driven primarily by home entertainment. The film reached an estimated 5.5 million home entertainment units sold worldwide through the end of the first quarter, net of actual and estimated future returns.
Megamind, the company‘s fall 2010 release, contributed $5.0 million of revenue to the quarter, driven primarily by international pay television and worldwide home entertainment. The film reached an estimated 5.3 million home entertainment units sold worldwide through the end of the first quarter, net of actual and estimated future returns.
Shrek Forever After, the Company‘s summer 2010 release, contributed $2.5 million of revenue to the quarter, driven primarily by home entertainment. The film reached an estimated 10.0 million home entertainment units sold worldwide through the end of the quarter, net of actual and estimated future returns.
Library, which now includes How to Train Your Dragon, contributed approximately $27.4 million of revenue to the quarter. Titles are added to the company‘s library during the quarter of the second anniversary of the domestic theatrical release. All other items, including non-feature film businesses, contributed $13.5 million of revenue to the quarter, of which Shrek The Musical was the single largest contributor.
Costs of revenue for the quarter equaled $96.5 million. Selling, general and administrative expenses totaled $27.5 million, including approximately $4.9 million of stock-based compensation expense.
The company‘s income tax expense for the first quarter was $5.1 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 35.5 per cent for the first quarter.
The company‘s second quarter and full year results are expected to be driven by Madagascar 3: Europe‘s Most Wanted, which is scheduled to be released on 8 June 2012. Television revenue for Kung Fu Panda 2 and home entertainment revenue for Puss In Boots are also expected to contribute to the company‘s second quarter results.
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.
