Netflix Retains Warner Bros Films in Theaters for 45-Day Window, Sarandos Confirms
Ted Sarandos, co-CEO of Netflix, has confirmed that the streaming giant intends to maintain a strong relationship with Warner Bros. theater business. This follows the proposed acquisition of Warner Bros. Discovery, which includes Warner Bros. studios and streaming platforms.
Commitment to Theatrical Releases
In a recent interview with the New York Times, Sarandos emphasized that Netflix plans to continue the theatrical release of Warner Bros. films. He stated that under their agreement, there will be a 45-day window for these films to run in theaters.
“When this deal closes, we will own a theatrical distribution engine that produces billions of dollars in revenue,” Sarandos explained. He asserted Netflix’s commitment to compete effectively in the box office arena, focusing on strong opening weekends.
Understanding Industry Concerns
Despite Netflix’s intentions, the acquisition has sparked industry backlash. Cinema United, a theater trade group, warned Congress that the deal could lead to fewer films, jobs, and even theater closures. Sarandos acknowledged the backlash, suggesting it stemmed from concerns regarding Netflix’s true intentions with theatrical releases.
He described the dissenting voices as loud but not representative of a majority, stating, “There were a lot of emotions around that more than anything else.” Sarandos also expressed empathy towards those who remain skeptical, offering reassurance that Netflix does not hold an anti-theater stance.
Acquisition Status
The acquisition is not finalized, as rival studio Paramount Skydance is attempting to interrupt the process through a hostile takeover bid. Sarandos insists that there are definitive outcomes regarding the deal, emphasizing that Netflix is committed to moving forward.
Adapting to Audiences
Netflix has derived success from special event releases, such as the recently celebrated “Stranger Things 5” finale. Sarandos believes that offering unique cinematic experiences encourages audiences to visit theaters. He remarked, “If you give people a reason to leave the house, they will gladly do so.”
Future of Theatrical Releases
Netflix intends to continue releasing Warner Bros. movies in theaters while maintaining operations independently. Sarandos mentioned that future release windows may become shorter to accommodate modern consumer preferences.
New Collaborations in Film
In conjunction with its plans for Warner Bros., Netflix recently renewed a multi-year movie output deal with Sony Pictures Entertainment valued at over $7 billion. This agreement signifies Netflix’s ongoing commitment to expand its content offerings and adapt to evolving industry trends.
