The Dream Team: The Rise and Fall of DreamWorks: Lessons from the New Hollywood

On October 12, 1994, Steven Spielberg, Jeffrey Katzenberg, and David Geffen―three of Hollywood's biggest players―announced they would form a new studio to produce feature films, television series, and pop music recordings. It didn't have a name, though Katzenberg's reference to his partners as the "Dream Team" eventually led to the company being dubbed DreamWorks. What the three men were attempting hadn't been done in more than sixty years: create a movie studio that could compete with the already existing major players. In The Dream Team, Daniel Kimmel tells the behind-the-scenes story of DreamWorks' rise―and the end of the dream eleven years later, when most of the company was sold off or shut down. Its plan for 1,087 acres of studio facilities that would include residences and retail operations came to naught. Its animation division was split off and went public. Its principals had already begun to go their own ways. Mr. Kimmel explores DreamWorks' successes: best-picture Oscars for American Beauty and Gladiator; a near miss (but box office success) for Saving Private Ryan; a smash animated hit Shrek winning the first Oscar ever for best animated feature and pointing the industry toward computer animation. But he also investigates why an enterprise with such promise failed to reach the heights. Was it the company's diffuse management style, or had the industry changed and consolidated so greatly that it was now impossible for new players to break into the ranks? Mr. Kimmel offers intriguing answers, showing how, more often than not, the guys tilting at windmills usually end up on the ground.