Pixar and THQ Announce Multi-Property Publishing Agreement
PIXAR AND THQ ANNOUNCE MULTI-PROPERTY PUBLISHING AGREEMENT
Exclusive Deal Encompasses Interactive Rights to First Four Wholly-Owned Pixar Animated Films
EMERYVILLE, CA, and CALABASAS HILLS, CA, August 5, 2004 - Pixar Animation Studios (NASDAQ: PIXR) and THQ Inc. (NASDAQ: THQI) today announced an exclusive multi-property publishing agreement granting THQ the interactive rights to four upcoming Pixar animated feature films.
Under THQ's existing agreement with Pixar and Disney, which began in April 2002, THQ has the rights to publish video games for Finding Nemo and for the upcoming films, The Incredibles and Cars. The first title under that agreement, Finding Nemo, was launched across multiple platforms in May 2003 and ranked as the top-selling children's game and the fifth best-selling game overall released in 2003, according to the NPD Group, Inc. The game has achieved worldwide sales in excess of six million units since its initial release.
The new agreement between Pixar and THQ will begin in 2006 with Pixar's first wholly-owned feature film produced outside of its existing relationship with Disney and continue with the next three wholly-owned Pixar feature films. The worldwide deal extends four years after the release of each film and includes all current and future video game console systems, PC/MAC, as well as handheld and wireless devices.
"We are thrilled to enter into another long-term publishing partnership with THQ," said Steve Jobs, Pixar's chairman and CEO. "THQ is one of the top interactive game makers, and the creative collaboration between our two companies will continue to bring our beloved characters to people around the world."
Pixar's president, Ed Catmull, added, "Our existing agreement with THQ has yielded top-selling games and numerous awards. We are excited to be able to build on the strength of this successful relationship."
"This agreement is one of the most significant partnerships in the history of the industry, a testament to Pixar's creative power and our tremendous success in the interactive space over the years," said Brian Farrell, president and CEO, THQ. "Extending our relationship is a huge win for THQ as we look ahead to a partnership that now encompasses not only The Incredibles and Cars, but also the first four wholly-owned Pixar theatrical releases."
About Pixar Animation Studios
Pixar Animation Studios (Nasdaq: PIXR, www.pixar.com) combines creative and technical artistry to create original stories in the medium of computer animation. Pixar has created and produced five of the most successful and beloved animated films of all time: Academy Award(R)-winning Toy Story (1995); A Bug's Life (1998); Golden Globe-winner Toy Story 2 (1999); the Academy Award(R)-winning Monsters, Inc. (2001); and the Academy Award(R)-winning Finding Nemo. Pixar's five films have earned $2.6 billion at the worldwide box office to date. The Northern California studio's next two film releases are The Incredibles (November 5, 2004) and Cars (holiday 2005).
About THQ
THQ(R) Inc. is a leading independent publisher of interactive entertainment software worldwide. The company develops its products for all popular game systems including PlayStation(R) 2 computer entertainment system from Sony Computer Entertainment, Xbox(R) videogame system from Microsoft, Nintendo(R) GameCube(TM) and Game Boy(R) Advance, personal computers and wireless devices. The THQ web site is located at www.thq.com. THQ is a registered trademark of THQ Inc.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the businesses of THQ Inc. and Pixar Animation Studios based, in part, on management's beliefs and certain assumptions made by management. These statements are not guarantees of either company's future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to economic, competitive and technological factors affecting the operations, markets, products and pricing of THQ and Pixar. We refer you to Pixar's 2003 Form 10K and First Quarter 2004 Form 10Q, particularly the sections on risks, for important factors that could cause Pixar's actual results to differ. Specific to THQ, information concerning these and other such factors is contained in documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the period ended March 31, 2004. The forward-looking statements contained herein speak only as of the date on which they are made, and neither Pixar nor THQ undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
Exclusive Deal Encompasses Interactive Rights to First Four Wholly-Owned Pixar Animated Films
EMERYVILLE, CA, and CALABASAS HILLS, CA, August 5, 2004 - Pixar Animation Studios (NASDAQ: PIXR) and THQ Inc. (NASDAQ: THQI) today announced an exclusive multi-property publishing agreement granting THQ the interactive rights to four upcoming Pixar animated feature films.
Under THQ's existing agreement with Pixar and Disney, which began in April 2002, THQ has the rights to publish video games for Finding Nemo and for the upcoming films, The Incredibles and Cars. The first title under that agreement, Finding Nemo, was launched across multiple platforms in May 2003 and ranked as the top-selling children's game and the fifth best-selling game overall released in 2003, according to the NPD Group, Inc. The game has achieved worldwide sales in excess of six million units since its initial release.
The new agreement between Pixar and THQ will begin in 2006 with Pixar's first wholly-owned feature film produced outside of its existing relationship with Disney and continue with the next three wholly-owned Pixar feature films. The worldwide deal extends four years after the release of each film and includes all current and future video game console systems, PC/MAC, as well as handheld and wireless devices.
"We are thrilled to enter into another long-term publishing partnership with THQ," said Steve Jobs, Pixar's chairman and CEO. "THQ is one of the top interactive game makers, and the creative collaboration between our two companies will continue to bring our beloved characters to people around the world."
Pixar's president, Ed Catmull, added, "Our existing agreement with THQ has yielded top-selling games and numerous awards. We are excited to be able to build on the strength of this successful relationship."
"This agreement is one of the most significant partnerships in the history of the industry, a testament to Pixar's creative power and our tremendous success in the interactive space over the years," said Brian Farrell, president and CEO, THQ. "Extending our relationship is a huge win for THQ as we look ahead to a partnership that now encompasses not only The Incredibles and Cars, but also the first four wholly-owned Pixar theatrical releases."
About Pixar Animation Studios
Pixar Animation Studios (Nasdaq: PIXR, www.pixar.com) combines creative and technical artistry to create original stories in the medium of computer animation. Pixar has created and produced five of the most successful and beloved animated films of all time: Academy Award(R)-winning Toy Story (1995); A Bug's Life (1998); Golden Globe-winner Toy Story 2 (1999); the Academy Award(R)-winning Monsters, Inc. (2001); and the Academy Award(R)-winning Finding Nemo. Pixar's five films have earned $2.6 billion at the worldwide box office to date. The Northern California studio's next two film releases are The Incredibles (November 5, 2004) and Cars (holiday 2005).
About THQ
THQ(R) Inc. is a leading independent publisher of interactive entertainment software worldwide. The company develops its products for all popular game systems including PlayStation(R) 2 computer entertainment system from Sony Computer Entertainment, Xbox(R) videogame system from Microsoft, Nintendo(R) GameCube(TM) and Game Boy(R) Advance, personal computers and wireless devices. The THQ web site is located at www.thq.com. THQ is a registered trademark of THQ Inc.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the businesses of THQ Inc. and Pixar Animation Studios based, in part, on management's beliefs and certain assumptions made by management. These statements are not guarantees of either company's future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to economic, competitive and technological factors affecting the operations, markets, products and pricing of THQ and Pixar. We refer you to Pixar's 2003 Form 10K and First Quarter 2004 Form 10Q, particularly the sections on risks, for important factors that could cause Pixar's actual results to differ. Specific to THQ, information concerning these and other such factors is contained in documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the period ended March 31, 2004. The forward-looking statements contained herein speak only as of the date on which they are made, and neither Pixar nor THQ undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
