James Gunn Just Clarified the DCU's Future After the Netflix-Warner Bros. Deal

Netflix lit the fuse on Hollywood again this week with its Warner Bros deal, and yes, everyone has thoughts. The loudest worry: what happens to theatrical releases now that the company whose boss openly hates 'long exclusive windows' is steering the ship?

DC bosses say: calm down, theaters still matter

James Gunn and Peter Safran, the co-heads of DC Studios and the folks behind one of the year’s biggest movies with 'Superman', weighed in to Bloomberg and tried to steady the room. Gunn made his stance pretty clear:

'The communal, theatrical experience is something that is incredibly important and remarkably well suited to our big spectacle films.'

That tracks with where their DC universe is at. It’s early days. So far, we’ve had 'Superman', 'Peacemaker', and 'Creature Commandos'. The 2026 slate keeps that two-track plan going: 'Supergirl' is headed for theaters, and 'Lanterns' is built for HBO Max.

WBD’s view: use every screen

Warner Bros. Discovery CEO David Zaslav seems fully aligned with that split approach. His take is basically: DC is big enough to live everywhere. As he put it, some stories should play in theaters around the world, and some are better told as series. Simple, right?

Netflix’s angle: short windows, bigger universes

Here’s where people get twitchy. Netflix co-CEO Ted Sarandos has never loved long theatrical exclusivity, and after this deal he kept beating a familiar drum on a December 5 investor call: don’t just make giant movies, build out the worlds around them. He even pointed to a recent DC move as a model — how Gotham’s 'Penguin' spun into a series — as the kind of universe expansion he likes to see. Translation: expect more spinoffs, side stories, and cross-pollination, not fewer.

Gunn and Safran aren’t sweating it

Inside DC Studios, the vibe is confident. Safran put it this way: what makes the whole thing irreplaceable is Gunn’s brain — he’s the architect of the plan. So for now, they’re focused on delivering the big-screen stuff that actually benefits from a crowd, and the small-screen stories that don’t.

• Out now: 'Superman', 'Peacemaker', 'Creature Commandos'
• Coming in 2026: 'Supergirl' (theatrical), 'Lanterns' (series on HBO Max)

The bottom line

We’re in wait-and-see territory. Zaslav wants DC on every platform. Sarandos wants shorter windows and more ways to mine the IP. Gunn wants butts in seats for the big spectacles. If the tug-of-war goes well, DC movies should still get a real theatrical life before they inevitably fly home to the big red N. I’ll keep an eye on how long they stick around on the big screen — and how quickly the universe starts growing on the small one.