Netflix CEO vows to release Warner Bros movies “in theatres with the traditional windows”
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(Credits: Netflix)
Netflix CEO Ted Sarandos has vowed to release Warner Bros movies in cinemas with a full theatrical run, amid speculation that the latest deal between the two companies will move towards a streaming model.
On December 5th, Netflix released a public statement confirming an agreement had been reached to acquire Warner Bros. Discovery for $ 72 billion. As part of the deal, they have also acquired HBO Max and HBO.
Making a surprise appearance at a Canal+ event in Paris on December 16th, the film mogul addressed a large and skeptical audience, sharing: “Our intentions when we buy Warner Bros. will be to continue to release Warner Bros. studio movies in theaters with the traditional windows.”
He added, “We never got into it before because we never owned a theatrical distribution mechanism.”
Sarandos eventually concluded: “We were monetising movies through our own subscription because that’s how we were growing the business the fastest.”
Sarandos has elaborated on a recent statement regarding the future release window of productions. Previously, he shared, “My pushback has been mostly in the fact of the long exclusive windows, which we don’t really think are that consumer-friendly.”
Sarandos went on, “I think, over time, the windows will evolve to be much more consumer-friendly, to be able to meet the audience where they are quicker…”
Now, speaking at the event in Paris, the CEO was quick to admit that Netflix has been “moving very fast,” and has “only been doing original programming for 12 years.” In contrast, “Warner Bros. stretches back a hundred years. They know a lot about things we haven’t ever done, like theatrical distribution.”
On December 17th, Warner Bros Discovery rejected Paramount’s $108 billion hostile takeover bid in favour of the deal with Netflix.
Though a considerably higher offer, on paper, Warner Bros Discovery were commited to the Netflix deal, stating, “We are confident that our merger with Netflix represents superior, more certain value for our shareholders and we look forward to delivering on the compelling benefits of our combination.”
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