What Will Happen When Netflix Take Over Warner Bros?

via HBO

In a multi-billion-dollar deal, Netflix has reached an agreement to acquire Warner Bros. What does this mean for the entertainment industry?

With more than 300 million paid subscribers across 190 countries, Netflix is the largest streaming service in the world – whose reign will only persist. With this Warner Bros. deal, Netflix will have ownership of its film and television studios HBO and HBO Max, which brings the total value of the agreement to $82.7 billion.

This acquisition aims to bring together pioneering entertainment businesses in the creation of one extensive portfolio. Beloved Warner Bros. franchises, shows and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, Harry Potter and Friends and the DC Universe will join Netflix’s jam-packed catalog consisting of features like Wednesday, Money Heist, Bridgerton, Stranger Things, KPop Demon Hunters and Squid Game.

 

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While of course this acquisition will give customers more choice of entertainment, this deal has been met with plenty of concerns. Over the years, Netflix has been a known industry disrupter when it comes to theatrical releases and original content. Many believe that giving Netflix the control over a revered film studio like Warner Bros. will harm the industry as we know it.

Renowned director James Cameron called the buyout a “disaster,” while a group of prominent producers lobbied US Congress to oppose the deal, according to Variety.

The Writers Guild of America also commented saying, “The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent.

“The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.”

Warner Bros. have defined the last century of entertainment. With this enduring creative force combined with Netflix’ streaming success – a new giant in the entertainment industry will be created.

It’s safe to say that granting Netflix further market dominance will lead to significant changes in the industry… and many fear, for worse rather than better.

Words by Leah Foran