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Who Is Jeffrey Katzenberg? Wiki, Bio, Age, Early Life, Marriage & Children, Career, Net Worth, What Is Quibi And Why Jeffrey Katzenberg Blames Quibi Failures On Coronavirus? And Many More Facts You Need To Know

Wiki

Jeffrey Katzenberg  [born December 21, 1950] is an American film producer and media owner. He became known for his tenure as president of Walt Disney Studios from 1984 to 1994, during which the studio revitalized its live-action and animation divisions, in addition to producing some of his biggest hits, including The Little Mermaid (1989), Beauty and The Beast (1991), Aladdin (1992) and The Lion King (1994). After leaving Disney, he was co-founder and CEO of DreamWorks Animation, where he oversaw the production of animated franchises such as Shrek, Madagascar, Kung Fu Panda, Monsters vs. Aliens and How to Train Your Dragon. Since then, he founded a new media and technology company called WndrCo and is the founder of Quibi, a short-form mobile video platform. Katzenberg has also been involved in politics. With his active support for Hillary Clinton, Elizabeth Warren, and Barack Obama, he was called “one of the top Hollywood policymakers and one of the top national fundraisers of the Democratic Party.”

Age

He is 69 years old.

Early life

Katzenberg was born in New York City, to a Jewish family, the son of Anne, an artist, and Walter Katzenberg, a stockbroker.  She attended the Ethical Culture Fieldston School, graduating in 1969. When she was 14, Katzenberg volunteered to work on Republican John Lindsay’s successful New York mayoral campaign. He quickly received the nickname “Squirt” and attended as many meetings as he could.

Marriage & Children

He has been married to Marilyn Katzenberg since 1975. They have two children.

Career

Katzenberg began his career as an assistant to producer David Picker, then in 1974 he became an assistant to Barry Diller, the president of Paramount Pictures. Diller transferred Katzenberg to the marketing department, followed by other duties within the studio, until he was assigned to revive the Star Trek franchise, resulting in Star Trek: The Motion Picture (1979). He continued on his way up and became President of Production under Paramount President Michael Eisner.

In 1984, Michael Eisner became chief executive officer (CEO) at The Walt Disney Company. Eisner brought Katzenberg with him to take charge of Disney’s motion picture division. Katzenberg was responsible for reviving the studio which, at the time, ranked last at the box office among the major studios. He focused the studio on the production of adult-oriented comedies through its Touchstone Pictures banner, including films such as Down and Out in Beverly Hills (1986), Three Men and a Baby (1987) and Good Morning, Vietnam (1987). By 1987, Disney had become the number-one studio at the box office. Katzenberg also oversaw Touchstone Television, which produced such hit TV series as The Golden Girls and Home Improvement. Katzenberg was also charged with turning around Disney’s ailing Feature Animation unit, creating some intrastudio controversy when he personally edited twelve minutes out of a completed Disney animated feature, The Black Cauldron (1985), shortly after joining the company. Under his management, the animation department eventually began creating some of Disney’s most critically acclaimed and highest grossing animated features. These films include Who Framed Roger Rabbit (1988), The Little Mermaid (1989), Beauty and the Beast (1991)—which was the first animated feature to be nominated for an Academy Award for Best Picture Aladdin (1992), and The Lion King (1994). In addition, Katzenberg also sealed the deal that created the highly successful partnership between Pixar and Disney and the deal that brought Miramax Films into Disney.

Concerns arose internally at Disney, particularly from Roy E. Disney, about Katzenberg taking too much credit for the success of Disney’s early 1990s releases. In 1993, Katzenberg had lobbied to become Eisner’s second in command, which would have meant moving Frank Wells from president to vice chairman, to which Eisner replied that Wells would feel “hurt” in that scenario and then, according to Katzenberg, assured him, “If for any reason Frank is not here … you are the number-two person and I want you to have the job. ” After Wells died in a helicopter crash in 1994, Eisner assumed Wells’ duties instead of promoting Katzenberg to the vacated position of president. Eisner recalled that “Roy E. Disney [Walt Disney’s nephew and a force on Disney’s board who Eisner says ‘could be a troublemaker’], who did not like him at all — I forget the reason, but Jeffrey probably did not treat him the way that Roy would have wanted to be treated — said to me, ‘If you make him the president, I will start a proxy fight.'” Disney board member Stanley Gold said Katzenberg had been brought low by “his ego and almost pathological need to be important. ” Tensions between Katzenberg, Eisner and Disney resulted in Katzenberg being forced to resign from the company that October. Katzenberg launched a lawsuit against Disney to recover money he felt he was owed and settled out of court for an estimated $250 million.

Later in 1994, Katzenberg co-founded DreamWorks SKG with Steven Spielberg and David Geffen, with Katzenberg taking primary responsibility for animation operations. He was also credited as executive producer on the DreamWorks animated films The Prince of Egypt (1998), The Road to El Dorado and Joseph: King of Dreams (both in 2000), Shrek in 2001, Spirit: Stallion of the Cimarron in 2002, and Shrek 2 in 2004. After DreamWorks Animation suffered a $125 million loss on the traditionally animated Sinbad: Legend of the Seven Seas (2003), Katzenberg believed that telling traditional stories using traditional animation was a thing of the past, and the studio switched to all computer-generated animation. Since then, most of DreamWorks’ animated feature films have been successful financially and critically with several Annie Awards and Academy Awards nominations and wins.

In 2004 DreamWorks Animation (DWA) split from DreamWorks as a separate company headed by Katzenberg in an IPO and has since recorded mostly profitable quarters. The DreamWorks live-action film studio was sold to Viacom in December 2005.  In 2008, the DreamWorks live-action studio again became an independent production company, releasing its films through from Disney. In 2006 Katzenberg made an appearance in the fifth season of The Apprentice. He gave the task winners a chance to be character voices in Over the Hedge. Katzenberg has been an industry leader in promoting the digital production of 3D movies, calling it “the biggest breakthrough in the film industry since the advent of color in the 1930s.” When Katzenberg appeared in The Colbert Report on April 20, 2010, he confirmed that from now on “all the movies” produced by DreamWorks Animation would be in 3D and gave Stephen Colbert a new pair of 3D glasses. [17] Katzenberg reportedly receives an airfare allowance of $ 1.5 million per year, which was the bulk of all CEOs of media companies. [18] Following NBCUniversal’s acquisition of DreamWorks Animation in 2016 for $ 3.8 billion, Katzenberg left his CEO position at DWA and was named President of DreamWorks New Media, which consists of DWA’s interests in AwesomenessTV and Nova. [19] [20] However, he left office soon after. WndrCo In January 2017, reports emerged that he had raised nearly $ 600 million from investors for a new company called WndrCo, which will invest in new media and technology companies. Katzenberg wants to turn WndrCo into an IAC-like company, founded by his former mentor, Barry Diller. [twenty-one] Katzenberg says WndrCo aims to reinvent television for mobile devices.

Net worth

Jeffrey Katzenberg is an American businessman and film producer who has a net worth of $ 900 million. Jeffrey Katzenberg is the current CEO of DreamWorks Animation and past president of the Walt Disney Company.

What is Quibi _ Wiki

Quibi is an American short-form mobile video platform based in Los Angeles, California, founded in 2018 by Jeffrey Katzenberg.

Quibi was founded in August 2018 by Jeffrey Katzenberg and is led by Meg Whitman, who serves as the company’s CEO. The service is aimed at a younger demographic with content delivered in short 10-minute episodes called “quick bites.” In 2018, the company raised $ 1 billion in funds from 11 investors and major Hollywood studios, including The Walt Disney Company, NBCUniversal, Sony Pictures, WarnerMedia, Liberty Global, ViacomCBS, and Alibaba Group. In March 2020, Quibi announced a partnership with Canadian telecommunications company BCE, through which its Bell Media division will produce Canadian sports news and content for the service (through CTV News and TSN respectively), and Bell Mobility will be the partner. Quibi Canadian Telecommunications Marketing Exclusive.

The service launched on April 6, 2020. [5] On April 14, the company announced that it had seen 1.7 million downloads of the Quibi application in its launch week.

In March 2020, an interactive video developer Eko lawsuit was filed alleging that Quibi stole proprietary technology after Eko demonstrated it to company employees, including founder and president Jeffrey Katzenberg.  Quibi also filed a lawsuit the day before Eko filed his, seeking a statement that Quibi did not infringe on Eko’s proprietary technology, as well as an order for Eko to withdraw a complaint filed on the App Store. from Apple and unspecified monetary damages. On May 3, 2020, Elliott Management announced that they would provide funds to Eko for their lawsuit in exchange for equity in the company.

The company plans to spend $ 1.1 billion on commissioning original content in its first year, totaling 8,500  short episodes and including more than 175 programs.  Unlike many video streaming platforms, Quibi content is specifically made to be streamed only on mobile devices and can be viewed in horizontal or vertical video, with the user able to switch to one or the other within the same video. Instead of typical half-hour television episodes or two-hour movies, Quibi’s content is delivered in episode chapters of 10 minutes or less.

The garbage dump in corporate history is riddled with product launches that failed due to a bad time, innovations that came too early (Apple Newton) or alongside a similar one that more successfully captured the public’s imagination (Betamax lost to VHS). And, of course, there are many products that simply failed because they deserved it. With the launch of Quibi today, no one can dispute how horrible the moment is. The company, backed by Jeffrey Katzenberg and Meg Whitman with a $ 1.75 billion war chest, offers video content in intentionally small packages or, as its name is short for “quick snacks.” (Well, sort of. Pronounced quib-ee, not quib-eye. Don’t ask me, I just work here.) Each show is meant to be viewed only on a phone, and all episodes are 10 minutes or less. It’s fast entertainment for when you’re out, designed to be consumed on a short subway ride or when you have a break between meetings. Only the service is launching in a world where no one is on the go, going to work, going to meetings, or somehow in need of the efficient, portable display that Quibi was designed to provide. And people quarantined within their homes for weeks are much more likely to consume their entertainment on much larger screens than their phones. Extremely low on the list of ways COVID-19 has transformed life, as we know, is that it has left Quibi completely useless for the duration of this crisis.

Jeffrey Katzenberg Blames Quibi Failures On Coronavirus

Katzenberg said he did not regret launching the app during the coronavirus. “If we knew on March 1, which is when we had to make the call, what we know today, I would say it is not a good idea,” he told the Times. “The answer is that it is regrettable. But here we are making enough gold with hay that I do not regret.” He added: “My hope, my belief was that there would still be many moments in between while taking refuge instead … There are still those moments, but it is not the same. It is not synchronized.” (Still, he noted, 80 percent of users are finishing episodes that start.) On social media, where Quibi has become a kind of meme, users have criticized the fact that they cannot share the clips on social platforms or watch the shows on their TVs. (Some critics have also criticized some of the platform’s initial offerings.) Quibi now allows iPhone users to watch shows on their larger screens, while the same update is also coming to Android users soon. Following user feedback, the app is also developing a sharing feature for social media platforms. Notably, Katzenberg shared another update with the Times: Users don’t seem to be seeing as much news content as the platform assumed. His event-driven shows, called “Daily Essentials,” “are not that essential,” he said

Katzenberg added that the company is working on new revenue projections and lowering its marketing budget given the new COVID-19 entertainment landscape. When asked about the success of TikTok, a social platform that is also based on short videos, Katzenberg responded with irritation. “That is like comparing apples to submarines,” he told the Times. “I don’t know what people expect of us. What did Netflix look like 30 days after its launch? To tell me about a company that has a billion users and is doing great in the last six weeks, I’m happy for them, but what the hell does it have to do with me?

 

 

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