Par revels in a Dreamy summer
EmptyFor all the sibling rivalries that have broken out between Paramount Pictures and DreamWorks since the Viacom-owned Paramount acquired DreamWorks in late 2005, the reconstituted Melrose Avenue studio emerged as the summer market-share leader. It's familiar territory for DreamWorks, which bested the surrounding studios in 2004 (thanks to "Shrek 2") and in 2000 (with a boost from "Gladiator"). But it's new territory for Paramount, which during the past decade rose no higher than third — once in 1998 and again in 2005.
Of course, the Paramount team, led by chairman Brad Grey and production president Brad Weston, depended heavily on DreamWorks forces, under CEO Stacey Snider and production head Adam Goodman, to scale the mountain. DreamWorks and Paramount joined forces to co-produce "Transformers," one of four films this summer to cross the $300 million mark. (That pact actually took place before Paramount's acquisition of DreamWorks.) Michael Bay's battling robots dominated the Fourth of July weekend. Additionally, DreamWorks' March comedy "Blades of Glory" and April teen thriller "Disturbia" contributed additional coin as their runs played out in May.
Paramount's market share also benefited from "Shrek the Third," which banked more than $320 million to become the summer's second-highest-grossing film. Produced by the publicly owned DreamWorks Animation, the film was released through Paramount, which takes home an 8% distribution fee.