Los Angeles Business Journal

Dreamworks Animation Gets Chinese Distribution Deal for 'Panda'

By Deborah Crowe Monday, August 29, 2011

Dreamworks Animation SKG has signed its first-ever online distribution agreement in China, starting with its popular “KungFu Panda” film franchise.

The Glendale film company will distribute the films on-demand in mainland China via the premium services and its Hollywood Movie channel of Internet TV firm Youku.com. “KungFu Panda” and a sequel film have grossed more than $1.25 billion in worldwide box office, and have been very popular with Chinese audiences, the companies said.

Youku.com opened in December and has several competitors in the country. “We look forward to expanding our alignment with Hollywood studios in the future to offer even more compelling content,” Youku Chief Executive Victor Koo said in a statement.

Financial terms were not announced.

Shares were up 65 cents, or 3 percent, to $20.73 in midday trading on the Nasdaq.