Netflix buying Warner Bros Discovery has been the biggest news in global entertainment over the last couple of days. The streaming giant has finalised a $82.7 billion deal to acquire the major Hollywood studio and its entire library. This has sparked concern among moviegoers and industry insiders about the future of theatrical releases from the WB slate as well as their streaming site, HBO Max.
Netflix appeared to reassure their 82 million subscribers that ‘nothing is changing’ in a carefully-worded e-mail sent on Saturday night. The e-mail details the deal and explains that a lot is left to be negotiated before the dotted line is signed.
Netflix's communication to subscribers
“We’ve recently announced that Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO. This unites our leading entertainment service with Warner Bros.’ iconic stories, bringing some of the world’s most beloved franchises like Harry Potter, Friends, The Big Bang Theory, Casablanca, Game of Thrones and the DC Universe together with Stranger Things, Wednesday, Squid Game, Bridgerton and KPop Demon Hunters,” reads the e-mail.
In a paragraph titled ‘what’s changing’, the communication emphasises, “Nothing is changing today. Both streaming services will continue to operate separately. We have more steps to complete before the deal is closed, including regulatory and shareholder approvals. You’ll hear from us when we have more to share. In the meantime, we hope you’ll continue to enjoy watching as much as you want, whenever you want – all on your current membership plan.”
About Netflix's WB takeover
{{/usCountry}}In a paragraph titled ‘what’s changing’, the communication emphasises, “Nothing is changing today. Both streaming services will continue to operate separately. We have more steps to complete before the deal is closed, including regulatory and shareholder approvals. You’ll hear from us when we have more to share. In the meantime, we hope you’ll continue to enjoy watching as much as you want, whenever you want – all on your current membership plan.”
About Netflix's WB takeover
{{/usCountry}}Netflix, the largest streaming platform in the world, has ushered in the era of direct-to-streaming films, getting more mainstream filmmakers from across the world to discard theatrical releases for direct streaming premieres for their titles. With the company taking over Warner Bros, moviegoers feared for the health of the theatrical release model.
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