Katzenberg Reups; DreamWorks Reports Record Q1

Jeffrey Katzenberg has renewed his contract with DreamWorks Animation, and will stay on as CEO of the studio he co-founded through 2013.

Katzenberg will continue to earn a salary of $1 a year, with the rest of his compensation tied to performance stock awards closely tied to the company’s stock price.

The studio, meanwhile, reported its best-ever first quarter earnings, based largely on the success of Madagascar: Escape 2 Africa and Kung Fu Panda. The results of Monsters vs. Aliens‘ success at the box office will be mostly reflected next quarter.

DWA reported income increasing from $26 million in Q1 2008 to $62 million this year, while revenue rose from $157 million to $263 million.

Katzenberg told Variety it was too soon to tell if Monsters vs. Aliens is successful enough to warrant a sequel and said the company was considering several ‘fun ideas’ for recreating the film’s 3-D experience on home video.