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My highly controversial piece from last year (I was even threatened with lawsuits demanding a retraction), was vindicated by DreamWorks Animation and Paramount Pictures when they announced yesterday that they will, from now on, support the new generation of HD-DVD format exclusively on a worldwide basis!
The reason for the Conglomerates' decision is precisely the reason I cited in the article (along with scam tactics being used by the Blu-ray group/resellers). Having sent a copy of my analysis to all the major studios, I am pleased to see that at least the smartest of the studios are paying attention! (It didn't surprise me since the primary owners of DreamWorks are Paul Allen of Microsoft fame, David Geffen, Steven Spielberg & Microsoft Corporation.) A condensed version of the original analysis is HERE.
These are the first two major studios to drop support of the competing Blu-ray format. Until now, most of their HD discs were being released in both HD-DVD and Blu-ray, including the Mission: Impossible collection, The Untouchables, Tomb Raider, U2 Rattle and Hum, and others. This announcement represents a significant shift in momentum in favor of HD-DVD, as Paramount and DreamWorks join Universal Studios in declaring exclusive support of HD-DVD. The text of the official press release follows ......
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PARAMOUNT AND DREAMWORKS ANIMATION EACH DECLARE EXCLUSIVE SUPPORT FOR HD DVD
Movies Distributed by Paramount Home Entertainment Including Paramount Pictures, DreamWorks Animation SKG, DreamWorks Pictures, Paramount Vantage, Nickelodeon
Movies and MTV Films to be Released Exclusively in HD DVD.
Exclusive Program To Begin with Release of "Blades of Glory," Followed by "Transformers" and "Shrek the Third," Films Representing More Than $1.5 Billion in Combined Worldwide Box Office.
Los Angeles, CA, August 20, 2007 – Paramount Pictures, a unit of Viacom Inc. (NYSE: VIA and VIA.B) and DreamWorks Animation SKG (NYSE:DWA), each announced today that they will exclusively support the next-generation HD DVD format on a worldwide basis. The exclusive HD DVD commitment will include all movies distributed by Paramount Pictures, DreamWorks Pictures, Paramount Vantage, Nickelodeon Movies and MTV Films, as well as movies from DreamWorks Animation, which are distributed exclusively by Paramount Home Entertainment.
The companies each said that the decision to distribute exclusively in the HD DVD format resulted from an extensive evaluation of current market offerings, which confirmed the clear benefits of HD DVD, particularly its market-ready technology and lower manufacturing costs. Paramount Home Entertainment will launch its exclusive HD DVD program with the release of the blockbuster comedy hit "Blades of Glory" on August 28th and follow with two of the biggest grossing movies of the year "Transformers" and "Shrek the Third". These three titles alone represent more than $1.5 billion in box office ticket sales worldwide.
"The combination of Paramount and DreamWorks Animation brings a critical mass of current box office hits to consumers with a line-up of live action and animated films that are perfect for HD DVD," stated Brad Grey, Chairman and CEO of Paramount Pictures, which is currently the leading studio in domestic box office. "Part of our vision is to aggressively extend our movies beyond the theater, and deliver the quality and features that appeal to our audience. I believe HD DVD is not only the affordable high quality choice for consumers, but also the smart choice for Paramount."
"We decided to release "Shrek the Third" and other DreamWorks Animation titles exclusively on HD DVD because we believe it is the best format to bring high quality home entertainment to a key segment of our audience – families," stated DreamWorks Animation CEO, Jeffrey Katzenberg. "We believe the combination of this year's low- priced HD DVD players and the commitment to release a significant number of hit titles in the fall makes HD DVD the best way to view movies at home."
With the rapid increase of HD TV screens in households, and audiences wanting to enjoy the total entertainment experience, HD DVD has emerged as the most affordable way for consumers to watch their movies in high definition. In addition to pristine quality, HD DVD also offers consumers the chance to personalize the movie-watching experience, to interact with their movies and even to connect with a community of other fans.
Paramount Home Entertainment will issue new releases day and date as well as catalog titles exclusively on HD DVD. Today's announcement does not include films directed by Steven Spielberg as his films are not exclusive to either format.
About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE: VIA, VIA.B), a leading content company with prominent and respected film, television and digital entertainment brands. The company's labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films, Nickelodeon Movies and DreamWorks Studios. PPC operations also include Paramount Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studios and Worldwide Television Distribution.
About DreamWorks Animation SKG
DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of fourteen animated feature films, including Antz, Shrek, Shrek 2, Shark Tale, Madagascar, Wallace & Gromit: The Curse of the Were-Rabbit, Over the Hedge, Flushed Away, and Shrek the Third. DreamWorks Animation's newest release, Bee Movie, opens in theaters November 2, 2007.
Contacts:
The companies each said that the decision to distribute exclusively in the HD DVD format resulted from an extensive evaluation of current market offerings, which confirmed the clear benefits of HD DVD, particularly its market-ready technology and lower manufacturing costs. Paramount Home Entertainment will launch its exclusive HD DVD program with the release of the blockbuster comedy hit "Blades of Glory" on August 28th and follow with two of the biggest grossing movies of the year "Transformers" and "Shrek the Third". These three titles alone represent more than $1.5 billion in box office ticket sales worldwide.
"The combination of Paramount and DreamWorks Animation brings a critical mass of current box office hits to consumers with a line-up of live action and animated films that are perfect for HD DVD," stated Brad Grey, Chairman and CEO of Paramount Pictures, which is currently the leading studio in domestic box office. "Part of our vision is to aggressively extend our movies beyond the theater, and deliver the quality and features that appeal to our audience. I believe HD DVD is not only the affordable high quality choice for consumers, but also the smart choice for Paramount."
"We decided to release "Shrek the Third" and other DreamWorks Animation titles exclusively on HD DVD because we believe it is the best format to bring high quality home entertainment to a key segment of our audience – families," stated DreamWorks Animation CEO, Jeffrey Katzenberg. "We believe the combination of this year's low- priced HD DVD players and the commitment to release a significant number of hit titles in the fall makes HD DVD the best way to view movies at home."
With the rapid increase of HD TV screens in households, and audiences wanting to enjoy the total entertainment experience, HD DVD has emerged as the most affordable way for consumers to watch their movies in high definition. In addition to pristine quality, HD DVD also offers consumers the chance to personalize the movie-watching experience, to interact with their movies and even to connect with a community of other fans.
Paramount Home Entertainment will issue new releases day and date as well as catalog titles exclusively on HD DVD. Today's announcement does not include films directed by Steven Spielberg as his films are not exclusive to either format.
About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE: VIA, VIA.B), a leading content company with prominent and respected film, television and digital entertainment brands. The company's labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films, Nickelodeon Movies and DreamWorks Studios. PPC operations also include Paramount Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studios and Worldwide Television Distribution.
About DreamWorks Animation SKG
DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of fourteen animated feature films, including Antz, Shrek, Shrek 2, Shark Tale, Madagascar, Wallace & Gromit: The Curse of the Were-Rabbit, Over the Hedge, Flushed Away, and Shrek the Third. DreamWorks Animation's newest release, Bee Movie, opens in theaters November 2, 2007.
Contacts:
For Paramount Pictures:
Mary Kincaid
Paramount Home Entertainment
Mary_Kincaid@ Paramount.com
323-956-3653
For DreamWorks Animation:
Rich Sullivan
DreamWorks Animation Investor Relations
(818) 695-3900
ir@ dreamworksanimation.com
For the HD DVD Promotional Group:
Dane Estes
Weber Shandwick
(425) 452-5486
Dane.Estes@ webershandwick.com
Guide created: 08/21/07 (updated 10/11/09)
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