Why Netflix's acquisition of Warner Bros could spell disaster for cinema
While rumours of a merger between Warner Bros and Paramount have been circulating, the possibility of a Netflix takeover is viewed by many as far more concerning for the future of movie theatres
In a move that could fundamentally reshape the film industry, Netflix is reportedly considering a bid to acquire media giant Warner Bros. Discovery.
This rumour, initially reported by Puck News, has sent shockwaves through Hollywood and raised concerns among critics who fear such a merger would prioritise streaming over the theatrical experience, potentially sounding a "death knell" for traditional cinema.
While rumours of a merger between Warner Bros and Paramount have been circulating, the possibility of a Netflix takeover is viewed by many as far more concerning for the future of movie theatres, according to a Yahoo report.
Keep updated, follow The Business Standard's Google news channel
The global streaming giant has consistently shown a preference for releasing content directly to its platform, and a potential acquisition would grant them control over a vast library of beloved franchises and iconic films.
Warner Bros., a studio with a century-long history of producing some of the most important and successful films ever made, is having a record-setting year at the box office.
With hits like Weapons, Superman, Sinners, and Barbie having a significant cultural impact, critics are questioning why a studio with such theatrical success would sell to a company seemingly intent on dismantling the theatrical model, read the report.
A key concern is the cultural footprint of films.
Movies released directly to streaming, even with massive budgets like The Gray Man or Red Notice, tend to fade from public conversation quickly. In contrast, even a box office disappointment like Furiosa has generated more lasting cultural discussion.
If the acquisition were to happen, Netflix would gain ownership of an enormous list of valuable intellectual properties, including the DC Universe, The Lord of the Rings, and Harry Potter.
Critics fear this would lead to these beloved franchises being used to churn out more streaming-exclusive content, potentially devaluing their cinematic legacy.
For now, Paramount remains a frontrunner in a potential acquisition. CNBC's David Faber has reported that Paramount is preparing a massive offer of $22 to $24 per share for the entire Warner Bros. Discovery company.
