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Comcast to Renew Shrek Franchise, Make More Movies
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Comcast Corporation (CMCSA - Free Report) has announced its plan to revive the Shrek franchise by adding new movies to the current list. The extremely popular movie franchise is owned by DreamWorks Animation which is expected to be acquired by Comcast’s NBCUniversal ("NBCU") toward the end of 2016 for $3.8 billion. The deal was announced in April this year. NBCU CEO Steve Burke’s announcement on the Shrek movies appears to be part of the company’s strategy to generate high returns from the DreamWorks portfolio.
A High Brand Value Franchise
Shrek is one of the most popular and successful animated characters launched by DreamWorks. A total of four Shrek movies have been released till date that, after adjusting for inflation, grossed $1.6 billion domestically. The first two Shrek movies gained immense popularity, scoring as much as 88% on movie rating website, Rotten Tomatoes. The other two movies, however, received a lukewarm response. Nonetheless, the franchise continues to attract value at theme parks and retail stores. Comcast plans to further tap into the theme parks and licensed merchandise avenues to drive growth for Shrek and other brands.
Plans for DreamWorks
Comcast has decided to acquire DreamWorks to revamp its family entertainment business and enhance competitiveness with The Walt Disney Company (DIS - Free Report) . According to Burke, Chris Meldandri – who heads Illumination Entertainment (owned by Universal) and is the creator of popular franchises like Despicable Me and Minions – will assist in revamping a bunch of existing DreamWorks franchises including Shrek. Meldandri plans to help in creating new franchises too. DreamWorks also owns other popular animated movies such as Kung Fu Panda, The Croods, Madagascar and How to Train Your Dragon.
Zacks Rank and Key Stock Picks
Comcast currently carries a Zacks Rank #3 (Hold). Investors interested in the consumer entertainment sector may consider players like Cable One Inc. (CABO - Free Report) and Cablevision Systems Corporation . Both these stocks sport a Zacks Rank #1 (Strong Buy).
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Comcast to Renew Shrek Franchise, Make More Movies
Comcast Corporation (CMCSA - Free Report) has announced its plan to revive the Shrek franchise by adding new movies to the current list. The extremely popular movie franchise is owned by DreamWorks Animation which is expected to be acquired by Comcast’s NBCUniversal ("NBCU") toward the end of 2016 for $3.8 billion. The deal was announced in April this year. NBCU CEO Steve Burke’s announcement on the Shrek movies appears to be part of the company’s strategy to generate high returns from the DreamWorks portfolio.
A High Brand Value Franchise
Shrek is one of the most popular and successful animated characters launched by DreamWorks. A total of four Shrek movies have been released till date that, after adjusting for inflation, grossed $1.6 billion domestically. The first two Shrek movies gained immense popularity, scoring as much as 88% on movie rating website, Rotten Tomatoes. The other two movies, however, received a lukewarm response. Nonetheless, the franchise continues to attract value at theme parks and retail stores. Comcast plans to further tap into the theme parks and licensed merchandise avenues to drive growth for Shrek and other brands.
Plans for DreamWorks
Comcast has decided to acquire DreamWorks to revamp its family entertainment business and enhance competitiveness with The Walt Disney Company (DIS - Free Report) . According to Burke, Chris Meldandri – who heads Illumination Entertainment (owned by Universal) and is the creator of popular franchises like Despicable Me and Minions – will assist in revamping a bunch of existing DreamWorks franchises including Shrek. Meldandri plans to help in creating new franchises too. DreamWorks also owns other popular animated movies such as Kung Fu Panda, The Croods, Madagascar and How to Train Your Dragon.
Zacks Rank and Key Stock Picks
Comcast currently carries a Zacks Rank #3 (Hold). Investors interested in the consumer entertainment sector may consider players like Cable One Inc. (CABO - Free Report) and Cablevision Systems Corporation . Both these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>