Netflix In Theatrical Market With Warner Bros: What Did CEO Say?

Netflix is close to completing the acquisition of Warner Brow Studios, and this is going to be one of the major developments in the entertainment industry in India. There is something interesting happening in this context and let us have a look to the same.

The top leadership at Netflix has communicated that they are going to complete a few calculations with regard to the theatrical market.

When asked to comment on this matter, Netflix CEO commented "We see this as a win for the entertainment industry, not the end of it. This deal is about growth: Warner Bros. brings businesses and capabilities we don’t have, so there’s no overlap or studio closures.

We’re strengthening one of Hollywood’s most iconic studios, supporting jobs, and ensuring a healthy future for film and TV production,” CEOs Ted Sarandos and Greg Peters wrote in a memo to employees.”

“Theatrical is an important part of the Warner Bros. business and legacy, and we don’t want to change what makes Warner Bros. so valuable.

If this deal had happened two years ago, hits like ‘Minecraft’ and ‘Superman’ would still have premiered on the big screen as they did and that’s how we plan to keep it, We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business.” He added.

This is a strong indication of the fact that Netflix is looking to enter the theatrical market with Warner Bros. It has to be seen what kind of a change this would bring in the entertainment industry from now on.