DreamWorks Flushed Away grosses $40 mn

MUMBAI: DreamWorks Animation SKG’s latest CG animated film Flushed Away, which had its domestic theatrical release on 3 November, 2006, has grossed approximately $40 million at the US box office through 12 November.

The film has been released in several small foreign theatrical markets and is scheduled for release in France on 29 November, 2006, in the United Kingdom on 1 December, 2006 and subsequently in other foreign markets.

DreamWorks Animation SKG’s has capitalized approximately $142.9 million in film inventory costs associated with the film (which amount does not include potential contingent compensation and residual payments for the film). The company stated that based on the domestic box office receipts to date and the historical correlation between domestic box office results for a film and that film’s ultimate revenues, the company currently anticipates that it will be required to record a write-down of film inventory for Flushed Away in the quarter ending 31 December, 2006.

DreamWorks Animation SKG’s is currently unable to predict the ultimate amount of such write-down, which could be material, as it will depend upon a variety of factors, including domestic and international theatrical results, revenues related to worldwide free and pay television, worldwide home video sales, as well as distribution and marketing costs in the theatrical and home video markets (which costs are expected to be significant).

Over the Hedge was released on 17 October, 2006 into the home video market. The title, which has been released in the domestic market and a few international territories, has performed consistently with the company’s general expectations in the early weeks of initial home video release. Over the Hedge will be released in the remaining international territories, including several of the most significant ones, over the next couple of months. The home video performance of the title will depend on a number of factors including increased competition from new family home video titles as the holiday season approaches.

BOC Editorial

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