"Shrek" premiered at the 2001 Cannes Film Festival, where it competed for the Palme d'Or, making it the first animated film since Disney's "Peter Pan" (1953) to be chosen to do so. The film was widely praised by critics for its animation, voice performances, writing and humor, which critics noted simultaneously catered to both adults and children. The film was theatrically released in the United States on May 18, 2001, and grossed $484 million worldwide against a production budget of $60 million, becoming the fourth highest grossing film of 2001. "Shrek" won the first ever Academy Award for Best Animated Feature and was also nominated for Best Adapted Screenplay. It earned six award nominations from the British Academy of Film and Television Arts (BAFTA), ultimately winning Best Adapted Screenplay. The film's success helped establish DreamWorks Animation as a prime competitor to Pixar in feature film computer animation, and three sequels were released—"Shrek 2" (2004), "Shrek the Third" (2007), and "Shrek Forever After" (2010)—along with two holiday specials, a spin-off film, and a stage musical that kickstarted the "Shrek" franchise. Although plans for a fifth film were canceled prior to the fourth film's release, the project was revived in 2016, but has since stalled, with production and a potential release date getting pushed back.