Pearl Studio
Chinese animation film studio established as a DreamWorks Animation joint venture and later renamed Pearl Studio.
Last updated October 12, 2026
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Overview
Pearl Studio (Shanghai Pearl Studio Film and Television Technology Co., Ltd.) is a Chinese animation film production company based in Shanghai. It was originally established in 2012 as Oriental DreamWorks, a Chinese-American joint venture between DreamWorks Animation and a consortium of Chinese investors including China Media Capital (CMC), Shanghai Media Group, and Shanghai Alliance Investment. The studio was created to develop and produce original Chinese-themed animated and live-action content for distribution both within China and worldwide, and it also engages in live entertainment, theme parks, games, and consumer products. In 2018, CMC Capital Partners acquired NBCUniversal's stake in the studio, taking full ownership and renaming it Pearl Studio. The company's first animated feature, Kung Fu Panda 3, was released in 2016 as a co-production with DreamWorks Animation, with about one-third of the film produced in China. Its first original feature, Abominable, followed in 2019 and was distributed by Universal Pictures. Pearl Studio continues to focus on Chinese-themed animated and live-action films and their derivatives for global audiences.
History
Pearl Studio originated in 2012 as Oriental DreamWorks, a Shanghai-based joint venture created by DreamWorks Animation and Chinese investment organizations. On February 17, 2012, DreamWorks Animation announced the planned venture with China Media Capital, Shanghai Media Group, and Shanghai Alliance Investment. The company was intended to develop and produce original Chinese-themed animated and live-action films for distribution in China and internationally. Its proposed scope extended beyond feature production to distribution, live entertainment, theme parks, games, and consumer products. The venture formally launched on August 6, 2012, as Shanghai Oriental DreamWorks Film & Television Technology Co., Ltd. DreamWorks Animation held 45 percent, while the Chinese partners held 55 percent. The initial investment was described as approximately $350 million in cash and intellectual property. To strengthen its Chinese production base, Oriental DreamWorks acquired 37 Entertainment, a local animation company with a workforce of approximately 175 employees that had previously contributed to DreamWorks television productions. A central part of the company's early role was connecting DreamWorks content with the Chinese market. Oriental DreamWorks distributed The Croods in China in 2013. The reference material characterizes this as the first comparable license to import Western films granted in roughly 20 to 30 years, underscoring the company's unusual position as both a production venture and a market-facing distributor. The studio's first feature film was Kung Fu Panda 3, released on January 29, 2016. It was made in co-production with DreamWorks Animation, with approximately one-third of the production carried out in China. The project gave the Shanghai venture a major production credit within an established international franchise. The studio also pursued original and adapted material. A film based on The Tibet Code was announced as a co-production with China Film Group, but the project was later cancelled. In 2015, Peilin Chou was appointed head of creative for feature animation, and in 2017 she was promoted to chief creative officer. During the same period, the company's ownership structure became subject to change. In 2017, reports indicated that NBCUniversal might sell its interest in Oriental DreamWorks as part of a restructuring and amid possible Chinese antitrust concerns. In February 2018, CMC Capital Partners announced that it had acquired NBCUniversal's stake and taken full ownership. Oriental DreamWorks was then renamed Pearl Studio, with Frank Zhu appointed chief executive officer. Despite the ownership change, Universal Pictures and DreamWorks Animation continued collaborating with Pearl Studio on its principal original feature. That feature, Abominable, was released in 2019. It was presented as Pearl Studio's first original animated film and used a Chinese setting and cultural framework within a globally oriented family-adventure story. Contemporary reporting cited in the reference material stated that the film grossed approximately $30 million worldwide in its opening weekend. The company's original plans also included participation in the Dream Center, a large Shanghai entertainment and culture complex proposed with investment exceeding $2.7 billion. The planned development was to include theaters, cinemas, shops, galleries, hotels, restaurants, and a very large IMAX screen. It was initially expected to open in 2017, but the project was delayed and was described as being in limbo by May of that year. The available sources do not provide a reliable current production slate or confirm the studio's present operating status.
- 2019
Abominable is released
[1]Abominable became Pearl Studio's first original animated feature and was released through continuing collaboration with Universal Pictures and DreamWorks Animation.
- 2018
The company becomes Pearl Studio
[1]CMC Capital Partners acquired NBCUniversal's interest, took full ownership according to the reference material, and renamed Oriental DreamWorks Pearl Studio.
- 2016
Kung Fu Panda 3 is released
[1]The studio's first feature production was released as a co-production with DreamWorks Animation, with approximately one-third of the production completed in China.
- 2013
The Croods is distributed in China
[1]Oriental DreamWorks distributed DreamWorks Animation's The Croods in China, establishing an early distribution role for the venture.
- 2012
DreamWorks Animation announces Oriental DreamWorks joint venture
[1]DreamWorks Animation announced a Shanghai-based joint venture with China Media Capital, Shanghai Media Group, and Shanghai Alliance Investment to develop Chinese-themed entertainment.
- 2012
Oriental DreamWorks launches
[1]Shanghai Oriental DreamWorks Film & Television Technology Co., Ltd. began operations with DreamWorks Animation holding 45 percent and the Chinese partners holding 55 percent.
Products and positioning
Chinese-themed animation and family entertainment developed for both domestic and international audiences, with roots in cross-border studio collaboration.
Animated feature film · 2016
Kung Fu Panda 3
Kung Fu Panda 3 was Pearl Studio's predecessor company's first feature-film production. Released in 2016, it was co-produced with DreamWorks Animation and continued the established Kung Fu Panda franchise. The reference material states that approximately one-third of the film was produced in China, making it a significant early example of the studio's cross-border production model.
Animated feature film · 2019
Abominable
Abominable was Pearl Studio's first original animated feature. Released in 2019, the film centers on a Chinese setting and themes while being structured for international family audiences. Universal Pictures and DreamWorks Animation continued to collaborate with Pearl Studio on the project after the studio's ownership and name changed.
Planned film adaptation
The Tibet Code
The Tibet Code was announced as a planned film adaptation to be co-produced with China Film Group. The project was subsequently cancelled and did not become a released Pearl Studio feature.
Proposed entertainment complex
Dream Center
Dream Center was a proposed Shanghai entertainment and culture complex associated with the Oriental DreamWorks venture. Plans described theaters, cinemas, retail areas, galleries, hotels, restaurants, and a major IMAX screen. The development was delayed and later described as being in limbo.
Controversies
Brand decisions
2019
Release Pearl Studio's first original featureProduct launchBackground
After the studio's ownership transition and rebranding, Pearl Studio sought to establish an original animated feature alongside its earlier franchise co-production.
Action taken
Pearl Studio released Abominable in continuing collaboration with Universal Pictures and DreamWorks Animation.
Aftermath
The film reportedly generated approximately $30 million worldwide during its opening weekend, according to the cited reference material.
Worldwide opening-weekend gross. $30 million (2019 opening weekend)
2018
CMC Capital Partners acquires NBCUniversal's stakeM&ABackground
NBCUniversal's interest in Oriental DreamWorks was offered for sale during a restructuring period, with possible Chinese antitrust concerns reported in connection with the ownership change.
Action taken
CMC Capital Partners acquired the stake and took full ownership according to the reference material. The company was renamed Pearl Studio and Frank Zhu was appointed chief executive officer.
Aftermath
Universal Pictures and DreamWorks Animation continued collaborating with the renamed studio on Abominable.
2012
Form Chinese-American production joint ventureM&ABackground
DreamWorks Animation sought a Shanghai-based partner structure capable of developing Chinese-themed films and distributing entertainment to Chinese and global audiences.
Action taken
DreamWorks Animation formed Oriental DreamWorks with China Media Capital, Shanghai Media Group, and Shanghai Alliance Investment, with a 45 percent DreamWorks stake and a 55 percent Chinese-partner stake.
Aftermath
The venture developed a Chinese production base, distributed DreamWorks content, and produced Kung Fu Panda 3 before its later ownership restructuring.
Initial capitalization. $350 million in cash and intellectual property (2012)
Sources3 sources
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