DreamWorks Animation SKG Inc. (DWA) has launched its online TV channel, DreamWorks TV, on Google Inc. (GOOG) controlled YouTube. This multi-platform media service will combine DreamWorks original content library with the digital content delivery expertise of AwesomenessTV, which was acquired by DreamWorks in May 2013.
AwesomenessTV is a premier digital content developer and distributor. It boasts significant Internet offerings and generates revenues primarily from online advertising and distribution of content through media channels such as theatrical, home entertainment and television.
Recently, AwesomenessTV took over Big Frame, another digital content developer and distributor. Notably, DreamWorks has also entered into an online streaming agreement with Netflix Inc. (NFLX).
DreamWorks is diversifying its Feature film segment to mitigate volatility in the film business. Management has decided to invest in key growth areas in order to expand the company’s operations into TV, consumer product, digital content and location-based entertainment. DreamWorks believes that exploring all options is the best way to optimally monetize its extensive portfolio of intellectual property rights.
DreamWorks TV primarily targets young viewers between the age group of six and eleven. The network plans to introduce more than a dozen new shows in the first few weeks from original live-action and animated short-form content library of DreamWorks Animation.
The Live Action series will include OMG, Record Setter Kids and Prank My Parents. Animation series will include Jimmy Blue Shorts, Gorillaville, Report Card, Public Pool and Fit Cat Therapist. Additionally, Richie Rich, an original scripted series based on the iconic comic book character will also be available.
DreamWorks currently carries a Zacks Rank #3 (Hold). Another better-ranked stock in the movie/TV production/distribution industry is News Corp. (NWSA), with a Zacks Rank #2 (Buy).