Netflix Boss Backs Warner Bros. Theatrical Releases — But Pushes for Shorter Windows
Netflix will keep putting Warner Bros. movies on the big screen, but the length of their exclusive theatrical window is in play—potentially reshaping how quickly they reach streaming.
Well, that escalated quickly: Netflix is buying Warner Bros. for $82.7 billion. Naturally, the first question from movie folks is whether Warner Bros. films are still going to hit theaters, because Netflix and theatrical windows have never exactly been best friends.
What Netflix says about theaters
On the investor call, Netflix co-CEO Ted Sarandos tried to calm everyone down. He said Warner Bros. movies will continue to go to cinemas first, and the studio's usual pipeline stays intact. He even pointed out that Netflix has already put about 30 movies in theaters this year, so the company is not anti-cinema. What Netflix does push back on: long, exclusive theatrical windows that make audiences wait months to watch at home.
"You should count on everything that is planned on going to the theater through Warner Bros. will continue to go to the theaters through Warner Bros."
Sarandos also said they plan to keep HBO operating largely as it is, and that includes HBO's output deal with Warner Bros. — which starts with a traditional theatrical release before moving into the pay-TV window. Translation: the current life cycle for WB films stays, although he hinted those windows could get shorter over time to be more "consumer friendly."
- Warner Bros. titles will still debut in theaters.
- Expect shorter exclusive theatrical windows down the line, but not an immediate overhaul.
- HBO's existing output deal for WB movies remains in place for now.
- Netflix has already had about 30 theatrical releases this year.
- Sarandos insists this is not a big strategy flip for either Netflix movies or Warner movies.
What this means for Netflix originals
For Netflix-made movies, it's essentially business as usual: most go straight to the service, with a handful getting a short theatrical run. Recent examples include the limited-release plans for Guillermo del Toro's Frankenstein and Rian Johnson's Knives Out 3. Sarandos was blunt that Netflix's core goal is still to bring first-run films directly to subscribers. The twist now is they're acquiring a business where theatrical is part of the model — and they intend to keep that part intact.
The big IP pile
If regulators sign off, Netflix would control some serious franchises: Harry Potter, the DCU, and Game of Thrones among them. That's a lot of cultural real estate, and how those worlds evolve under Netflix remains an open question. Also important: this deal is not closed yet. There are regulatory hurdles ahead, and Netflix is reportedly dangling a $5 billion breakup fee if the whole thing gets blocked.
The immediate blowback
Opposition showed up fast. Variety says a group of top industry players sent an open letter to Congress arguing that Netflix would "effectively hold a noose around the theatrical marketplace." And the Directors Guild of America plans to meet with Netflix, saying the deal raises significant concerns for the guild, per Deadline.
Bottom line right now: if a Warner Bros. movie was slated to hit theaters, it still will. The real watch item is how quickly the theatrical-to-home window tightens once the dust settles.