DreamWorks and YouTube Teaming Up on New Show
DreamWorks Animation (NASDAQ:DWA) is expanding its efforts into creating content outside of studio films by growing its partnership with Google’s (NASDAQ:GOOG) popular video-sharing site, YouTube.
According to a person familiar with the matter who spoke to the Los Angeles Times, DreamWorks will debut a new series on YouTube called “YouTube Nation” next week that will highlight the popular content on the video sharing site. The show will consist of five-minute clips showing the best YouTube programming at the moment.
YouTube itself will be heavily involved in producing the program and is financing it. YouTube and DreamWorks will work together to choose the most interesting programming to feature on the show.
DreamWorks has been actively expanding outside the movie business and into Internet-based television. The company’s CEO, Jeffrey Katzenberg, is planning to cut the studio’s dependence on feature films and double its television revenue by 2015. DreamWorks already has a teen network on YouTube called “AwesomenessTV,” which it purchased for $33 million in May.
This summer, DreamWorks announced a partnership with the online streaming service Netflix (NASDAQ:NFLX) that will see DreamWorks creating 300 hours of Netflix-exclusive content. Turbo: F.A.S.T. is the first original product of the deal, which also includes a huge catalog of DreamWorks Animation’s previous film titles like Shrek and Kung Fu Panda.
Picking up where last summer’s Turbo left off, Turbo: F.A.S.T. is an episodic, animated television show that follows the world-traveling exploits of the film’s snail hero and his racing crew as they master new stunts and challenge villains in their path. Set to be released in December, Turbo: F.A.S.T. will consist of 56 11-minute episodes.
Despite the disappointing performance of the film Turbo at the box office, DreamWorks believes that Netflix offers the perfect audience for its content, especially given the streaming service’s current lineup of popular children’s programming. The great amount of success that has already been seen with Netflix’s original content is another reason for DreamWorks to be optimistic about the venture.
According to data from Nielsen cited by the Los Angeles Times, YouTube sees 1 billion visitors every month and is accessed by more adults between the ages of 18 and 34 than any cable network on traditional television. The future of TV is in online streaming services like YouTube and Netflix, and DreamWorks is in a great position to take advantage of the changing television industry.
More from Wall St. Cheat Sheet:
- Google Gives Nielsen the Go-Ahead to Track YouTube Viewership
- Is Netflix DreamWork Animation’s ‘Patron Saint’?
- 5 New Netflix-Original Series Set for 2014 Premieres
Follow Jacqueline on Twitter @Jacqui_WSCS