Netflix’s WB Bid Could Change Streaming Service’s Approach to Movie Theaters
If Warner Bros. Pictures were to be sold to Netflix, the streaming service would likely alter its approach to releasing movies in theaters.
Warner Bros. Discovery, which is run by David Zaslav, has put itself up for sale. So far, interested parties appear to be Paramount Skydance Corp., Netflix, and Comcast Corp. Having said that, any potential deal is far from being complete, as these matters typically take much time and many factors have to be considered.
What does Netflix’s theatrical plan look like regarding the company’s WB bid?
According to a recent report from Bloomberg, Netflix has told Warner Bros. Discovery that the company “will keep releasing the studio’s films in theaters if it’s successful in buying the company.”
“Warner Bros. has contractual agreements to release movies in theaters, which Netflix would honor, according to the people, who asked not to be identified revealing details of talks between the companies,” the article continues. “Up to now, Netflix has resisted distributing its movies in theaters, and has grown to rival Hollywood’s largest studios without doing so. The possibility of owning Warner Bros.’ deep film library, along with the contractual obligations, has softened that opposition.”
Given that Warner Bros. Discovery owns DC Studios, this means that, if Netflix were to buy the company, DC fans would still get to see their favorite superheroes on the big screen. What the future of DC Studios’ film slate should the company be sold to the streaming service, however, remains to be seen.
Bloomberg reports that bids for Warner Bros. Discovery are due on Tuesday.
“A deal with Netflix would be the largest ever for the streaming service. Executives made a presentation to Warner Bros. management,” the article states. “The movie industry worries that a Warner-Netflix deal would eliminate another studio and major source of theatrical films. Netflix has given some films limited runs in theaters to qualify for awards and placate talent.”
Originally reported by Brandon Schreur at SuperHeroHype.
Source: Comingsoon.net