"Studio co-productions of big films are de rigueur in Hollywood now, but DreamWorks jumped on the concept early on with successful results.

DreamWorks, much smaller in size and machinery than the majors, was quick to learn that co-productions were a way to play in the big leagues. After one of its first team efforts, /www.dreamworksfansite.com/deepimpact/"">Deep Impact, a 1998 co-production with Paramount, grossed $140 million domestically and $350 million worldwide, co-productions became an important part of the DreamWorks business model.

Co-productions are not entirely risk averse, and because a studio's investment is only partial, so too is its portion of the returns. Thus, a bigger bang is required to break even. DreamWorks has largely avoided that side of the equation, however, by showing an instinct for big, gutsy movies that don't compromise art for epic proportions. Its bets have paid off, not just at the box office but on Oscar night.

Of the 16 DreamWorks live-action films that were nominated for Academy Awards since 1997, 10 were co-produced with another studio. In 1998, Saving Private Ryan, done with Par, took home five Oscars from 11 noms. In 2000, Gladiator, produced with Universal, won five of 12. In 2001, A Beautiful Mind, also made with U, won four out of eight. Three pic trophies three years in a row ain't bad business either.

Last year's Seabiscuit, produced with U, received seven nominations.

Not all partnerships are equal, and certain films such as Saving Private Ryan were more creatively produced by DreamWorks than by the partnering studio. Some of our partnerships are pure financial plays and a lot are movies that are quite produced by DreamWorks, says DreamWorks Pictures co-head Walter Parkes.

Not that every partnership has been memorable. This year's remake of The Stepford Wives, a DreamWorks-Par co-production, failed to win over audiences.

But DreamWorks doesn't always need a should to lean on, its solo projects have garnered their share of Academy trophies. Most significantly, 1999's American Beauty won five Oscars out eight nominations.

Source: /www.variety.com/"">Variety."