‘Shrek 2’ DVD Debuts as ‘Incredibles’ Hits Cinemas
LOS ANGELES (Reuters) – Tales of a family of superheroes and a green ogre are expected to dominate U.S. entertainment this week with the Friday releases of “Shrek 2” on DVD and video and “The Incredibles” in theaters.
DreamWorks Animation SKG Inc. said there was no battle between Shrek and Pixar Animation Studio Inc’s, and investors recently have boosted shares in both companies on anticipation they would be blockbusters.
DreamWorks set its “Shrek 2” DVD release for a Friday rather than a customary Tuesday to avoid being overshadowed by another national drama — the presidential election, a spokeswoman for the studio said.
DreamWorks also had released the original “Shrek” to home video and DVD on the first Friday of November three years ago. “Shrek” sold 43 million units worldwide. The studio declined to forecast how the sequel would do.
“Shrek 2,” about a cranky green ogre and his bride, made the second-highest grossing debut ever in May, behind “Spider-Man,” and went on to sell more than $432 million worth of tickets to become the third-highest grossing movie in the United States and Canada.
“Shrek 2” figured in last week’s successful initial public offering for DreamWorks Animation, bringing market capitalization for the offshoot of Glendale, California-based DreamWorks to $4 billion.
Shares of DreamWorks Animation were nearly unchanged on Friday, down 5 cents to $40.30 on the New York Stock Exchange, although they have climbed $1.55 since the IPO Oct. 28.
Shares of Pixar rose more than $3 to $84.39 on Friday in anticipation of the opening of “The Incredibles.”
Pixar founder Steve Jobs held previews of the film for Wall Street financial analysts earlier this week, and analysts on Friday attributed the stock gains to the favorable impressions created by those previews and positive reviews of the film.
Jeffries analyst Robert Routh said he expected the film to gross $610 million worldwide.
“The Incredibles,” the sixth feature created under Pixar’s partnership with The Walt Disney Co, is the Emeryville, California-based company’s first PG-rated film.
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