How to Train Your Dragon 3 is just one of many DreamWorks Animation films being pushed back as it cuts down its feature film production from three films a year, to two.
Restructuring at DreamWorks Animation will focus the studio’s production on six films in the next three years, which will include one film and one sequel per year.
Kung Fu Panda 3 and Trolls will be released in 2016, Boss Baby and The Croods 2 in 2017, and Larrikins and How to Train Your Dragon 3 (originally scheduled for release in summer 2017) in 2018.
In a statement on Thursday, DreamWorks said the changes are an effort to maximize the company’s “creative talent and resources, reduce costs, and drive profitability.”
“The number one priority for DreamWorks Animation’s core film business is to deliver consistent creative and financial success,” said DreamWorks Animation Chief Executive Officer Jeffrey Katzenberg.
“I am confident that this strategic plan will deliver great films, better box office results, and growing profitability across our complementary businesses.”
This reduction in the output of features will result in the loss of approximately 500 jobs across all of DreamWorks Animation.