Universal locks Eddie Murphy’s Donkey origin for June 30, 2028, as Shrek 5 looms

Universal and DreamWorks just moved the next piece of the Shrek machine onto the calendar: "Donkey," the origin story prequel featuring the wisecracking companion, is set for release on June 30, 2028, with Eddie Murphy returning to voice the character. This is not a minor spinoff gamble. It is a deliberate second wave of franchise expansion that is landing after Universal already has "Shrek 5" targeted for summer 2027.

The strategic tell is the timing. "Donkey" will be the eighth film in the "Shrek" franchise, coming after two "Puss in Boots" spinoff films, while the studio system keeps stacking big-budget animated tentpoles across multiple years. For decision-makers, the message is simple: Universal and DreamWorks are treating the 2000s animation brand as an enduring content asset, not a nostalgia one-off.

Why does this matter beyond fandom? Because the Shrek universe is already a financial proof point. The franchise has earned more than $3.5 billion at the global box office since it launched in 2001, and it is expected to pass $4 billion when "Shrek 5" hits theaters in summer 2027. When a studio can credibly forecast that kind of lifetime performance, it gets easier to justify additional development cycles, higher marketing budgets, and expanded production capacity. In other words, every new entry has a stronger chance of finding an audience because the underlying brand already proved it could travel across demographics and geographies.

Murphy is central to that brand continuity. In "Donkey," he will be the voice behind the character, returning as he did when he helped define Donkey as a talking, wisecracking presence in "Shrek." The source also notes that Murphy played Mushu in Disney's "Mulan" three years earlier, showing how he had already broadened his voice-acting reach before becoming a major contributor to Shrek's success. The business implication here is not just star power. It is that the studio is betting on recognizable performance DNA. For executives, that can reduce uncertainty in audience demand compared with a recast or a newly created vocal identity.

There is also a storyline implication that ties back to what audiences responded to before. In "Shrek," Murphy's Donkey got on the reclusive green ogre's nerves, but he quickly won over audiences worldwide, especially after an early trailer scene where, after Shrek reluctantly allows Donkey to stay at his home, he declares, "in the morning… I'm making waffles!" That kind of early-catchiness is the commercial engine behind many animated franchise rollouts. An origin story prequel can work as a way to refresh the character without rebooting the world, letting the franchise deepen attachment while keeping the recognizable tone.

Behind the camera, the production team signals a classic DreamWorks approach: assign experienced animation and storytelling leadership to protect the franchise tone while still allowing fresh creative energy. "Donkey" will be directed by Charlie Bean, known for "The Lego Batman Movie." Rebecca Huntley will produce, and veteran DreamWorks story artist Matt Flynn will co-direct. For boards and investors, these names matter because they reduce the risk that a new installment will feel like it belongs to another animated studio entirely. The goal is to preserve what worked, then tweak what audiences want next.

And this launch does not exist in isolation. "Donkey" is joining a broader DreamWorks slate announced alongside "Shrek 5." That slate includes "Forgotten Island" coming this September, a live-action/CGI remake of "How to Train Your Dragon 2" in summer 2027, and a feature adaptation of the children's series "Cocomelon" in February. The sequencing matters for studio economics. Spreading releases across different animation sub-franchises and styles can diversify audience entry points, reduce reliance on one demographic, and smooth supply chain pressures that come with animation production. Even if each film has its own market profile, the overarching benefit is operational: it helps the studio manage risk while pursuing upside.

On the regulatory and policy side, the story is mostly about what stays the same. The source does not describe new regulation tied to these releases. Still, executives operating in media know the modern constraints that can affect release strategies, including rights management, advertising rules, and regional compliance requirements for content distribution. A franchise this large typically already has mature workflows for licensing and distribution across territories, which can reduce friction when adding a new installment like "Donkey." In practice, the biggest risk is usually not regulatory in a narrow sense, but commercial: will audiences treat another Shrek-era entry as “more of the thing they love,” or as franchise dilution.

Universal and DreamWorks are clearly leaning toward the first interpretation. "Donkey" is positioned as an origin story prequel about Shrek's wisecracking "noble steed," not a total reinvention. And with Murhpy returning as the voice, plus a director and story leadership team with proven animated franchise instincts, the studios are trying to convert existing affection into repeat business. For peers, the lesson is hard to miss: when a franchise crosses the $3.5 billion mark and is projected to pass $4 billion, the boardroom conversation shifts from “Is it worth expanding?” to “How do we expand without breaking what audiences came for?”