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Ted Sarandos defended Netflix’s Warner Bros. deal in a Senate hearing that quickly devolved from legitimate antitrust scrutiny to culture war theatrics.
During an earnings update on Tuesday, the company touted growth from ads, memberships, and new formats, while also addressing its Warner Bros. deal.
The streamer removes the stock-based part of its offer, speeding up the shareholder vote and strengthening its case against Paramount’s takeover attempts.
Speaking with the New York Times, Netflix co-CEO said that if his company gets into theatrical distribution: “I want to win box office.”
Netflix says acquiring WB will expand development pipelines, open global reach for storytellers, and create talent job opportunities. Now that that’s settled…
The Netflix co-CEO suggests Netflix could speed up how quickly Warner Bros. films leave cinemas, signaling potential long-term shifts in release strategy.
The acquisition positions Netflix to absorb a century of Warner Bros. film and animation history as industry consolidation accelerates.
According to Reuters, Netflix has tapped an investment bank to explore a possible WBD bid and has been given access to the company’s financial data room.
‘Leo’ is Netflix’s biggest animated original to date, landing in the streamer’s top 10 English-language film list for nine consecutive weeks.
“There’s plenty of appetite for more than the few films a year that we’re currently doing,” said Netflix co-CEO Ted Sarandos.
Netflix’s animation ambitions are to do what “no major studio has ever done.”
Hiring a feature film studio head, Netflix sends a clear signal about their feature film ambitions.