Dreamworks Animation Turbocharges Its July Release
Dreamworks Animation will get double duty out of its forthcoming theatrical release Turbo, due out in July. On Tuesday, it announced that it will create an animated series for Netflix, Turbo: F.A.S.T., that will become available exclusively to Netflix's streaming subscribers in December. In a statement, DWA chief Jeffrey Katzenberg observed that Netflix pioneered a new model for TV dramas with House of Cards, and now together we're doing the same thing with kids' programming. Terms of The Deal were not disclosed. While many investors argued that the deal would prove more beneficial to DreamWorks Animation than to Netflix, DWA shares were actually down 1.26 percent to $16.42 at midday trading on the Nasdaq while Netflix shares were up 2.89 percent to $183.80, close to their 52-week high of $188.88.