TURBO

Dreamworks CEO believes ‘Turbo’ will be profitable

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A summertime glut of animated family films and a tough release date are the culprits behind the underwhelming domestic box-office showing of “Turbo,” according to Dreamworks Animation CEO Jeffrey Katzenberg.

But in a conference call earlier this week with analysts to discuss Dreamworks’ second-quarter earnings, Katzenberg also said he believed that the film, which cost $135 million to make and heavily features IndyCar and the Indianapolis 500, would still be profitable for his company.

Variety reports that “Turbo” has already crossed the $40 million mark internationally with several major markets still awaiting release. That’s in comparison to the $60 million that the film has brought in Stateside since hitting theatres on July 17.

“It’s a hit everywhere in the world, except for one territory [the U.S.],” said Katzenberg.

According to Variety, Katzenberg said that “Turbo” has been considered a disappointment based on Dreamworks’ past films that have crossed the $150 million mark, saying that “in the real world, a movie that’s in the vicinity of $100 million is still considered a hit.”

Nonetheless, he conceded that the film’s so-so domestic take has been “tough, because ‘Turbo’ was loved and beloved” by audiences, which gave it a CinemaScore of A.

“This is a movie that played great for its audience but we were never able to get the attention and traction of [that] audience coming so quickly after two blockbuster sequel animated titles,” Katzenberg said, referring to Disney/Pixar’s ‘Monsters University’ and Universal/Illumination’s ‘Despicable Me 2.’

However, it bears noting that ‘Turbo’ seems to be the start of a move from Dreamworks’ to depend less on box-office cash and more on other lines of business from TV to merchandising.

We already know that an animated series based on the film is slated to stream on Netflix at the end of the year, and the Variety report above has the company’s chief operating officer, Ann Daly, mention that children’s toys tied to the film have “outperformed expectations.”

Combine those elements with the film having a potentially strong take overseas and maybe – just maybe – there might be a ‘Turbo 2’ after all.

VIDEO: Ferrari fires up 2016 F1 power unit at Maranello

Ferrari driver Sebastian Vettel,of Germany, steers his car during a testing session of Pirelli Formula One rain tires, at the Paul Ricard circuit, in Le Castellet, near Marseille, Tuesday, Jan.26, 2016. (AP Photo/Claude Paris)
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Ferrari has released a short video of the first fire-up of its new power unit for the 2016 Formula 1 season at Maranello in Italy.

Although there is nothing to suggest what the new car will look like thanks to some cannily-terrible camera work, it is nevertheless an interesting snippet ahead of the new season.

Ferrari is yet to confirm when it will launch its 2016 runner, but is likely to do so online in the days leading up to the first pre-season test in Barcelona on February 22.

There has been much speculation about the new car as Ferrari bids to overhaul Mercedes at the head of the field and secure its first championship in eight years.

Sebastian Vettel will be hoping to build on an impressive maiden campaign with Ferrari in 2015 that yielded three race wins, while Kimi Raikkonen remains keen to pick up more silverware in what may be his last season in F1.

Chilton says IndyCar test debut went “swimmingly well”

SOCHI, RUSSIA - OCTOBER 12:  Max Chilton of Great Britain and Marussia speaks with members of the media during the Russian Formula One Grand Prix at Sochi Autodrom on October 12, 2014 in Sochi, Russia.  (Photo by Dan Istitene/Getty Images)
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Along with new Chevrolet aerodynamic components being tried out at the “it’s green in February and it’s never this green the later into the year we get” Sonoma Raceway, the other interesting storyline out of Wednesday’s six-car Verizon IndyCar Series test was that it marked Max Chilton’s testing debut with Chip Ganassi Racing in the No. 8 Arthur J. Gallagher & Co. Chevrolet.

Chilton’s made the announcement, addressed the media and had his sponsor confirmed within the last week-plus.

But it was on Wednesday that the talking stopped and the driving restarted, for what was not only the 24-year-old Brit’s first time in an IndyCar but also his first time at Sonoma.

“It’s a bit of a shock today,” Chilton said, via a track-issued release. “I haven’t been in a racing car in six months and that was an Indy Lights car, so I’ve got to learn the track today and the car.

“But I think the morning went swimmingly well. I was quicker than I thought I would be.  It’s a really nice kit and I can’t wait to explore it throughout the season.”

Here’s a few photos on social media, either ones he or the track shared, of his maiden day in an IndyCar.

Chilton’s next test comes later this week, still in California, at Auto Club Speedway for his first oval run in an IndyCar.

Chilton joined his three Chip Ganassi Racing teammates, Scott Dixon, Tony Kanaan and Charlie Kimball, for the test. Team Penske’s Helio Castroneves and Simon Pagenaud also tested on Wednesday.

Pabst adds Jordan Lloyd as third USF2000 driver

Photo: Indianapolis Motor Speedway, LLC Photography
Photo: Indianapolis Motor Speedway, LLC Photography
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Pabst Racing has added a third driver to its Cooper Tires USF2000 Championship Powered by Mazda lineup, in the form of talented 19-year-old Australian driver Jordan Lloyd.

Lloyd raced the first two weekends of last year’s USF2000 season with John Cummiskey Racing before being sidelined due to financial woes, but he showed quite a bit of promise in those two weekends at St. Petersburg and NOLA Motorsports Park. He finished second in one of the NOLA races.

For 2016, Lloyd returns to the U.S. after winning the CAMS Jayco Australian Formula 4 championship last year, and was thus awarded with the ‘Road to the World’ scholarship.

“I only touched the tip of the iceberg when I was here in 2015, so on a personal level there is a lot of unfinished business that needs to be tended to,” Lloyd said in a team release. “I am looking forward to a strong season.”

Lloyd, who will drive the No. 21 car, joins the previously announced pairing of Garth Rickards and Yufeng Luo at Pabst, the Oconomowoc, Wisconsin-based team, as the USF2000 field for 2016 continues to grow both in terms of size and talent.

Luca Ghiotto steps up to GP2 with Trident

2015 GP3 Series Round 9
Yas Marina Circuit, Abu Dhabi, UAE.
Friday 27 November 2015.
Luca Ghiotto (ITA, Trident) 
Photo: Sam Bloxham/GP3 Series Media Service.
ref: Digital Image _SBL7306
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Luca Ghiotto will step up to the GP2 Series with Trident in 2016 after an impressive season in GP3 last year that saw him finish second in the championship standings.

Ghiotto made his GP3 debut at the end of 2014 with a four-race run-out for Trident before remaining with the Italian team for 2015.

It proved to be a memorable year as he won five races – more than any other driver – but fell eight points short of the title as Mercedes junior Esteban Ocon was crowed champion in Abu Dhabi.

Ghiotto will remain with Trident for 2016, stepping up to its GP2 operation after a successful test in Abu Dhabi at the end of last year.

“I can’t wait to line-up for this new adventure,” Ghiotto said. “Last year, it was tough for me to fight so hard and not winning the title. However, it has been an extremely useful experience with the help of the excellent teamwork among the whole Trident stable.

“I want to thank once again Maurizio Salvadori and Giacomo Ricci for their support, and the Italian Federation for believing so much in me. I really look forward to be back on-track.”