David Garrett’s fledgling sales and financing entity has scored a major coup in its first year of operation, signing a pact to handle sales on the studio’s product for Europe, the Middle East and Africa.
Disney will continue to release around the rest of the world including North America while DreamWorks backer Reliance retains distribution rights in India. Insiders said the move by DreamWorks would allow the studio to generate production funds.
The first films covered by the deal include the untitled Ken Scott project set to begin principal photography in October and Need For Speed, which begins shooting early next year. As previously announced, Fox will release Lincoln and Robopocalypse as it co-financed both projects.
“David has a proven track record, and his years of experience in building Summit International will help us in this next step of growing our business,” DreamWorks Studios president and COO Jeff Small said.
“This partnership allows us to best capitalise on the expanding global marketplace and generate foreign sales as a revenue source. We appreciate Disney’s continued support of our company and our ongoing partnership.”
“I am incredibly excited to be working with Stacey, Steven, Jeff and the DreamWorks team,” Garrett said. “I could not hope to be working with a more exceptionally talented and delightful group of people, and I hope that we will find a way of creating new and exciting synergies together, in the ever-changing international landscape.
“DreamWorks also have a very compelling, original and diverse slate of pictures in development, which is wonderfully refreshing. We also hugely look forward to working with the Disney team, who have been so supportive of DreamWorks’ new strategy.”