Would Netflix owning Warner mean blockbuster films skip cinemas?

Los Angeles (dpa) – Netflix has made no secret of its disdain for the cinematic release. When asked about this topic, executives at the streaming giant consistently say it is more important for the company to deliver films straight to hundreds of millions of streaming subscribers than to release them in cinemas. So if Netflix acquires Hollywood heavyweight Warner Bros, what does this mean for the future of the cinema industry and the big-screen releases expected of a blockbuster powerhouse like this? Nothing much will change, Netflix says, seeking to ease fears among cinema owners and fans. The streaming giant would not expose Warner’s cinema business to risks, Netflix co-chief executive Ted Sarandos said in a January interview with the New York Times, assuring that the current 45-day window for exclusive theatrical releases would remain. When Netflix announced plans to acquire Warner, Sarandos had initially signalled that the company envisioned a gradual change in the lengths of theatrical exclusivity. US cinema operators worry that shorter exclusive windows could cost them vital revenues. Warner films have recently been a key pillar for the cinema business. Sarandos stressed that Netflix, following a Warner acquisition, also wanted to become number one in the cinema business. "We want to win" — both on a film’s opening weekend and in total box office revenues, he said. Reviewing Warner’s financials, Netflix discovered that the studio’s cinema operations were performing better than previously assumed. Netflix is seeking to buy Warner Brothers’ studio and streaming business in an $83 billion deal, excluding the television channels currently owned by the company, such as CNN. Its rival Paramount, however, is offering $108.4 billion for the entire Warner Bros Discovery company as it stands today. Warner’s management has opted for the Netflix bid, but Paramount has since appealed directly to shareholders. The outcome of the bidding war remains uncertain. The following information is not intended for publication dpa so yyon n1 sl

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