Netflix vs Paramount: A defining moment for global entertainment

Everyone in the film industry is talking about Netflix’s attempt to acquire Warner Bros Discovery and its portfolio, which includes Warner Bros, New Line Cinema, and HBO Max.

The world’s largest streaming platform, with more than 300 million subscribers, has made a jaw-dropping offer of $82.7 billion for the acquisition. 

This potential deal would bring iconic franchises under Netflix’s umbrella, such as Looney Tunes, Barbie, Batman, Friends, and Harry Potter, alongside HBO’s acclaimed series like The Sopranos, Sex and the City and Succession, as well as all the related intellectual property.

Industry experts have raised concerns that this move could significantly strengthen Netflix’s influence within the film industry. Cinema lovers (such as myself) are worried about what this means for cinemas, which have already been under pressure since the pandemic.

In an interesting twist, Paramount is pursuing its own strategy. They have launched a hostile takeover bid, appealing directly to Warner Bros’ shareholders and claiming their proposal is “superior to Netflix in every dimension.”

Neither Netflix nor Paramount has provided clarity on how they would integrate Warner Bros into their offerings. Both deals will only move forward after approval by competition regulators in the US and Europe, so we will have to wait to see the outcome of these (almost film-like) negotiations.

This is a defining moment for the future of the entertainment industry, which has already been challenged by the debate around artificial intelligence.  As a big supporter of filmmaking, and hopelessly optimistic, I have my fingers crossed for a deal that drives innovation within the sector.