DreamWorks Pictures (also known as DreamWorks SKG or DreamWorks Studios, commonly referred to as DreamWorks, trading as Storyteller Distribution Co., LLC) is an American film production label of Amblin Partners. It was formerly distributing its own and third-party films by itself. It has produced or distributed more than ten films with box-office grosses of more than $100 million each. As of October 2016, DreamWorks' films are marketed and distributed by Universal Pictures.
History[]
DreamWorks began in 1994 as an attempt by media moguls Steven Spielberg, Jeffrey Katzenberg and David Geffen (together, SKG) to create a new Hollywood studio of which they owned 72%. Currently, DreamWorks operates out of offices at Universal Studios.
In December 2005, the founders agreed to sell the studio to Viacom, parent of Paramount Pictures. The sale was completed in February 2006. (This incarnation is now named DW Studios L.L.C.) However, this would be short lived as DreamWorks ended its partnership with Paramount in 2008- citing massive creative struggles. That same year, DreamWorks signed a $1.5 billion deal to produce films with India's Reliance ADA Group. Reliance provided $325M of equity to fund recreating DreamWorks SKG into DreamWorks Studios, an independent entity. Clark Hallren, former Managing Director of the Entertainment Industries group of J. P. Morgan Securities, and Alan J. Levine of J. P. Morgan Entertainment Advisors, led the Reliance team in restructuring the company.
The following year, DreamWorks entered into a distribution agreement with Walt Disney Studios, wherein Disney would distribute DreamWorks films through Touchstone Pictures. Various live-action films aimed at older audiences were created, but few would see significant success. By this point, most of the films Disney and DreamWorks collaborated on had help from other studios and producers- barely being involved beyond distribution, Due to the financial strains on both companies, they opted not to renew their contract after 2016. With the formation of Amblin Partners in 2015, the studio entered into a distribution agreement with Universal Pictures- where it remains as of 2024.
DreamWorks' animation arm was spun off in 2004 into DreamWorks Animation (DWA), which currently owns the DreamWorks trademarks, and as of August 2016 is a subsidiary of NBCUniversal. Spielberg's company continues to use the DreamWorks trademarks under license from Universal Studios.