The acquisition of Warner Bros. gives Netflix what it has always needed: an identity
close your eyes Think for a minute and tell me: What is a Netflix movie? OK, try again: What is a Netflix show?
Sure, it’s easy to come up with killer titles-KPop Demon Hunters, strange things– But Netflix has never really had a brand identity. Like Disney, it’s not the home of Star Wars and Mickey Mouse. As streaming services go, it’s earned its name by being a jack of all trades and master of none. Now, it’s made its smartest move yet, plunking down $83 billion to buy itself a brand new character.
On Friday, the streaming giant announced it would buy Warner Bros. in a deal that would give Netflix its film and TV operations, as well as HBO and HBO Max. For those who can’t keep up with who owns what these days—nobody can—it means that once the deal closes, Netflix owns everything from Batman to big bang theory, The Wizard of Oz to Westeros also, lord of the rings, Harry Potterand prestige TV shows like The sopranos
According to Paul Erickson, media and entertainment analyst at Omdia, getting content with this kind of name recognition will allow Netflix to attract and retain subscribers. “It will also enhance Netflix’s position in the industry from a talent, recruiting and salary negotiation perspective,” he added.
The deal, which is expected to close next fall after Warner Bros. Discovery exits its cable business (CNN, HGTV, Discovery and others), surprised Hollywood when Netflix announced it Friday morning. The future of Warner Bros. Discovery has been hanging in the balance for weeks, with a number of potential buyers making offers. NBCUniversal’s parent company Comcast offered. So did Paramount Skydance – which worried some, given that the merger of Paramount and Skydance, led by Oracle founder Larry Ellison’s son David Ellison, became an all-encompassing political football. South Park to The Late Show with Stephen Colbertwhich was put on ice this summer.
In the end, Netflix won out and established itself as the go-to place for viewers Game of Thrones Rewatching and everything new James Gunn does with the DC Extended Universe. In fact, it gives the streaming giant an identity it didn’t have before and a back catalog that will rival Disney Plus. It could also turn the streaming giant into something a lot more like a traditional movie and TV studio — if that’s what it wants to be.
This is a big question. As soon as the acquisition was announced, industry watchers began speculating whether Netflix, for example, would continue Warner Bros.’ commitment to theatrical releases, which is important to its auteur directors. sand hill Filmmaker Denis Villeneuve. Some also wondered if Netflix CEO Ted Sarandos’ recent comments about embracing generative AI would lead to more AI content thanks to Warner Bros.’ massive library. All scenarios seem possible, but they also contradict each other. Today’s deal means Netflix has to make a decision: use Warner Bros.’ legacy to continue as a major Hollywood studio, or use it to produce a collection of content, but much less art.
