The release of "Shrek 3" is to be postponed to May 2007 from November 2006, DreamWorks Animation Studios says.
Wednesday's announcement came a day after rival cartoon powerhouse Pixar Animation Studios said it would move "Cars" to May 2006 from November 2005.
Both companies hope the early summer bows will allow them to capitalize on both the large summer audience and the holiday DVD market that follows.
DreamWorks' first two "Shrek" movies were released in early May (of 2001 and 2004) and went on to a combined domestic gross of more than $708 million (367.4 million pounds).
"The sheer magnitude of the 'Shrek' franchise has led us to conclude that a May release date, with a DVD release around the holiday season, will enable us to best maximize performance and increase profitability, thereby generating enhanced asset value and better returns for our shareholders," DreamWorks Animation CEO Jeffrey Katzenberg said in a statement.
According to DreamWorks chairman Roger Enrico, the company had been thinking of shifting its release slate but decided to make the change official after Pixar's announcement Tuesday because it suggests that Pixar's future strategy will be to release all of its films in the summer. That meant that the untitled Pixar feature to follow "Cars", which was set for November 2006, will now likely shift to summer 2007.
According to Enrico, that left an opening for DreamWorks' "Flushed Away", the animated feature from Britain's Aardman Animation, which will now bow in November 2006.
"Shrek 3's" move to early summer 2007, however, may find it competing with Pixar's first post-"Cars" movie, though no date has been set for that untitled feature.
But while "Cars" and "Shrek 3" are opting for summer releases, that doesn't mean late fall releases for family-oriented fare are no longer in fashion.
Warner Bros will release its fourth "Harry Potter" film in November, even though it broke from its "Potter" holiday release pattern to open the third film in the series, "Harry Potter and the Prisoner of Azkaban", this past summer. According to Dan Fellman, president of distribution for Warners, the move back to November for the next "Potter" is more a factor of production schedules rather than release issues. "These films are very difficult to make in one year," said Fellman, whose first two "Potter" films were released in the November frame. "The push (to November) just gives it more time. Our video will be strong regardless of when we release it."
Meanwhile, 20th Century Fox will bow its animated film "Robots" from Blue Sky Studios in March. The computer-animated film about a town of robots will open in the same time period as Blue Sky's previous production "Ice Age", which earned $176 million in 2002.
"We were so pleased with 'Ice Age,' we're going on the same date," said Bruce Snyder, president of distribution at Fox. "Sometimes it's better to be alone in March than competing for the kids with three other films in May or June."
Shares in DreamWorks, which also announced a maiden third-quarter profit of $13.7 million, or 18 cents per share, slipped to $37.87 in after-hours trading on Inet from a close of $40.20 on the New York Stock Exchange close. Pixar shares fell $4.29 to $86.77 on the Nasdaq
Wednesday's announcement came a day after rival cartoon powerhouse Pixar Animation Studios said it would move "Cars" to May 2006 from November 2005.
Both companies hope the early summer bows will allow them to capitalize on both the large summer audience and the holiday DVD market that follows.
DreamWorks' first two "Shrek" movies were released in early May (of 2001 and 2004) and went on to a combined domestic gross of more than $708 million (367.4 million pounds).
"The sheer magnitude of the 'Shrek' franchise has led us to conclude that a May release date, with a DVD release around the holiday season, will enable us to best maximize performance and increase profitability, thereby generating enhanced asset value and better returns for our shareholders," DreamWorks Animation CEO Jeffrey Katzenberg said in a statement.
According to DreamWorks chairman Roger Enrico, the company had been thinking of shifting its release slate but decided to make the change official after Pixar's announcement Tuesday because it suggests that Pixar's future strategy will be to release all of its films in the summer. That meant that the untitled Pixar feature to follow "Cars", which was set for November 2006, will now likely shift to summer 2007.
According to Enrico, that left an opening for DreamWorks' "Flushed Away", the animated feature from Britain's Aardman Animation, which will now bow in November 2006.
"Shrek 3's" move to early summer 2007, however, may find it competing with Pixar's first post-"Cars" movie, though no date has been set for that untitled feature.
But while "Cars" and "Shrek 3" are opting for summer releases, that doesn't mean late fall releases for family-oriented fare are no longer in fashion.
Warner Bros will release its fourth "Harry Potter" film in November, even though it broke from its "Potter" holiday release pattern to open the third film in the series, "Harry Potter and the Prisoner of Azkaban", this past summer. According to Dan Fellman, president of distribution for Warners, the move back to November for the next "Potter" is more a factor of production schedules rather than release issues. "These films are very difficult to make in one year," said Fellman, whose first two "Potter" films were released in the November frame. "The push (to November) just gives it more time. Our video will be strong regardless of when we release it."
Meanwhile, 20th Century Fox will bow its animated film "Robots" from Blue Sky Studios in March. The computer-animated film about a town of robots will open in the same time period as Blue Sky's previous production "Ice Age", which earned $176 million in 2002.
"We were so pleased with 'Ice Age,' we're going on the same date," said Bruce Snyder, president of distribution at Fox. "Sometimes it's better to be alone in March than competing for the kids with three other films in May or June."
Shares in DreamWorks, which also announced a maiden third-quarter profit of $13.7 million, or 18 cents per share, slipped to $37.87 in after-hours trading on Inet from a close of $40.20 on the New York Stock Exchange close. Pixar shares fell $4.29 to $86.77 on the Nasdaq
