Netflix has made clear that, should its planned acquisition of Warner Bros. proceed, the streaming giant intends to continue releasing Warner Bros. films in cinemas, preserving the theatrical legacy of the storied studio even as consolidation reshapes Hollywood’s distribution landscape. The acquisition, valued at about $82.7 billion in enterprise value, would bring Warner Bros.’ entire film and television studios, along with its streaming assets, under Netflix’s umbrella. In the company’s official announcement, Netflix stated that it plans to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.
This reassurance comes amid growing concern from filmmakers, studios, and cinema owners, many of whom feared that Netflix’s acquisition could further erode the traditional big-screen experience. Over the past decade, Netflix has largely pursued a streaming-first model, often bypassing theatrical release altogether. The promise to maintain theatrical releases represents a significant shift, or at least a public commitment, that could help allay industry fears about the erosion of theatrical distribution under a streaming-dominated regime.
Nevertheless, some remain skeptical. Critics argue that statements from Netflix may only reflect a short-term strategy, meant to smooth regulatory approval and placate stakeholders while the merger moves forward. There is concern that once existing contractual obligations expire, Netflix could gradually shift high-budget or franchise films directly to streaming, thereby diminishing the long-term role of movie theaters.
Moreover, a coalition of film producers recently urged lawmakers to scrutinize the merger, warning that the combination of Netflix’s streaming dominance with Warner Bros.’ vast content library could give the company outsized control over both content creation and distribution, potentially choking competition and reducing theatrical output industry-wide.
For audiences and moviegoers, this pledge could preserve a familiar and cherished cinematic tradition. Fans of beloved Warner Bros. franchises like DC superhero films, sprawling fantasy epics, and prestige dramas may continue to enjoy them in the immersive, communal setting of theaters, despite the industry’s rapid shift toward streaming. On Netflix’s end, retaining theatrical releases may offer a strategic advantage, combining the prestige and visibility of cinemas with the global reach of its streaming platform.
As the deal awaits regulatory approval, with the spinoff of Warner Bros.’ cable-networks division expected prior to closing, the industry watches closely. If Netflix follows through, this merger could set a new precedent for how streaming platforms integrate legacy studios without dismantling theatrical distribution, bridging the gap between Hollywood’s past and its streaming-driven future.
