Netflix has said it "expects" to keep releasing Warner Bros. movies in theaters after purchasing the studio giant, but suggests that the windows of which they’ll remain in theaters will change.
In a press release announcing the streamer’s acquisition of the movie studio company that was founded in 1923, Netflix’s co-CEO and former chief content officer, Ted Sarandos, first expressed his excitement for the power move.
"Our mission has always been to entertain the world," Sarandos said. "By combining Warner Bros.' incredible library of shows and movies — from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends — with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling."
Sarandos then expressed that Netflix "expects to maintain Warner Bros.' current operations and build on its strengths, including theatrical releases for films."
In a conference call with media analysts afterward, Sarandos broke down what could be changing with how it releases movies.
"I think over time, I think the windows will evolve to be much more consumer-friendly, to be able to meet the audience where they are, quicker," he said. "All those things I’d like to do, but I’d say right now, you should count on everything that is planned on going to the theater through Warner Bros. will continue to go to the theaters through Warner Bros."
He continued: "Netflix movies will take the same strides they have, which is, some of them do have a short run in the theater beforehand, but our primary goal is to bring first-run movies to our members, because that’s what they’re looking for."
Netflix’s acquisition of Warner Bros., which beat out competing bids from Paramount and Comcast, is valued at $72 billion in equity, with a total enterprise value of approximately $82.7 billion. It’s set to close in the third quarter of 2026.
