![]() But it has shifted its focus from being a production factory to becoming a creative hub, developing movies with global potential. It has shed scores of staff and rebranded itself as Pearl Studio.ĭespite its shrunken size, the company is a key player in China’s fledgling animation industry. ![]() ODW now belongs to a CMC-led consortium of Chinese firms. NBCUniversal, DreamWorks’ new owner, dumped its 45% stake in February 2018. Seven years after its celebrated birth, ODW no longer exists. ![]() “Our plans are as big as the country is,” he boasted in a 2014 speech. Oriental DreamWorks also announced its intention to branch out into animated television production, mobile and internet content, live-action films, live-action TV and even a $3.1 billion cultural and entertainment district in Shanghai that Katzenberg said would rival Broadway. The ambition was to create a Chinese animation studio in the mold of DreamWorks, churning out a film a year by 2016, then two a year after 2018. Katzenberg said later that the new company had the personal blessing of Xi, who is now China’s president and its most powerful leader since Mao Zedong. That same day, Katzenberg’s DreamWorks Animation announced the launch of Oriental DreamWorks, a $330 million joint venture with three Chinese partners, including China Media Capital. in February 2012, then-Chinese Vice President Xi Jinping had lunch and watched a Los Angeles Lakers game with Jeffrey Katzenberg. No U.S.-China venture could have had a more auspicious start than Oriental DreamWorks.
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