With schedules shifting, Penguins struggling and some films disappearing altogether, has something gone wrong at DreamWorks?

Up until that point, it had been working on one or two.

It put names to the films, too.

This wasnt a marking down of a release date for an unannounced project, either.

This wasnt hiding movies that were quietly in development.

This was a bold statement of intent.

The announced movies back then?

2015:The Penguins Of MadagascarTrollsB.O.O.

In short, of that original announced line-up, only three of the films stayed where they were.

Now that in itself isnt a problem.

Yet rarely do announced schedules fluctuate so much.

WhenGuardiansonly took home $306m, it was seen as a blip.

Peabody & Sherman,andThe Penguins Of Madagascarhave fallen below $300m in global takings.

Stories of DreamWorks having to take a financial write-down have not been in short supply.

Looking forward, theres no obvious white knight on the slate to turn things around any time soon.

For DreamWorks Animation is in an interesting position.

Furthermore, of its next five films, onlyKung Fu Panda 3looks like a sure-fire hit.

But before that?Captain Underpants,Trolls,andMumbai Musicalare interesting gambles, but sizeable gambles nonetheless.

It seems to be gradually transforming itself from a maker of animated movies to a broader media company.

Or, moving from a competitive market into an even more competitive one.

A market where it will look like a small fish in a proverbial big pond.

Its at a turning point.

Which inevitably brings things back to the man at the helm, Jeffrey Katzenberg.

Theres planning for the long term taking place.

Maybe the big question is how involved Katzenberg himself will remain.

Had the Hasbro merger gone ahead, then he would have been locked in for several more years.

But if the former fails, the studio may retreat back to further spin-offs and sequels.

As things stand, DreamWorks Animation isnt in trouble, but it is in flux.

And its only going to be better films that dig it out of its currently perceived mini-rut.