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Landguy said:

Dreamworks and Dreamworks animation are two different things, even though they are part of the same.  Dreamworks animation was rather small at the time.  The animation division was just starting to be successful.  Shrek's success was a surprise to everyone.  But, your calculations don't work that way for the film industry.  Production companies genrally only see 10-15 % of the revenues from outside of the US back then.  Today, they only see 20-30%.  So, the # wouldn't have grown much from the worldwide gross.  I do agree that the DVD and merchandising sales would have been good.   But, the first Shrek wasn't expected to do that well, so the share of the merchandising would have been much smaller than you think.  Shrek 2 would have been where most of the money was being made.  THat movie did almost twice the revenue and had huge merchandising tie-ins and even bigger DVD sales.

Between the time their first movie (Antz) released, and 2002, they had invested $455,000,000 in 6 movies, and grossed $1,298,611,099, those aren't small time numbers.  I guess we'll just have to disagree on this one :)