Netflix co-CEO Ted Sarandos reaffirmed the company’s dedication to traditional theatrical releases for Warner Bros. films during an event in Paris on March 12, 2024. This commitment comes as part of ongoing discussions regarding Netflix’s potential $82.7 billion acquisition of Warner Bros. Discovery, which includes both the studio and its streaming operations. Sarandos emphasized that if the deal proceeds, Netflix intends to maintain the established theatrical windows for Warner Bros. movies.
During a stage interview with Maxime Saada, chairman and CEO of Canal+ Group, Sarandos stated, “Our intentions when we buy Warner Bros. will be to continue to release Warner Bros. studio movies in theaters with the traditional windows.” This statement addresses industry concerns that the acquisition could diminish the viability of theatrical releases. Sarandos explained that Netflix had previously not engaged in theatrical distribution due to a lack of ownership over such mechanisms.
The co-CEO elaborated on Netflix’s focus over the past twelve years, stating, “We’ve been moving very fast, building a library as fast as we can.” While Netflix has successfully monetized films through its subscription model, Sarandos acknowledged that the breadth of Warner Bros.’ rich history in cinema provides insights into theatrical distribution that Netflix has yet to explore fully. “Warner Bros. stretches back a hundred years. They know a lot about things we haven’t ever done,” he added.
Sarandos also discussed Netflix’s plans to continue its collaboration with Canal+ following the Warner deal, expressing a desire to compete for significant programming events, including major sporting matches, while reiterating that the company’s primary mission remains focused on film and television. Saada noted the positive impact Netflix has had on French viewers, stating, “Before you showed up, we had approximately 30 percent of French people willing to pay for TV. Now the penetration of paid television is 75 percent.”
The event also showcased StudioCanal CEO Anna Marsh, who underscored her company’s commitment to theatrical windows and introduced a new film project titled Elsinore, featuring actors Andrew Scott and Olivia Colman. The combination of Netflix’s intentions and StudioCanal’s announcements highlights a significant moment in the evolving landscape of film distribution and audience engagement.
As the entertainment industry continues to adapt to changing viewing habits, Sarandos’s remarks may signal a potential shift back towards valuing traditional theatrical releases, even as streaming remains a dominant force in content consumption.
