It was late Thursday when news broke that Netflix won the bidding war over Paramount and Comcast to start acquisition talks with Warner Bros. Discovery. Netflix is only looking at the Warner Bros. Studios and HBO Max streaming assets. What this means for WBD’s cable networks and other properties remains to be seen.

I’ve had things that I’ve been wanting to say about this for a few weeks now. For starters, I am no fan of the idea of Paramount Skydance acquiring another legacy studio. Not after Paramount basically paid a bribe so that their merger with Skydance would through. That David Ellison has been rather aggressive in essentially wanting a hostile takeover of Warner Bros. Discovery just left a sick feeling in my mouth, to the point where Paramount threw a fit in a letter to Warner Bros. I’m glad that they didn’t win the war. Not that Warner Bros. putting itself up for auction is any better.

Netflix Still Doesn’t Respect Theatrical

I hope Reed Hastings and Ted Sarandos listen to cinephiles when we discuss our very real fears. Netflix doesn’t care about theatrical. They really don’t. If they did, they wouldn’t leave so much money on the table by having films play a week or two in theaters to qualify for the Oscars and then go straight to streaming. Sure, a seven-day run is the bare minimum to qualify for the Oscars, but at the end of the day, they really need to decide if they are making bona fide theatrical films or TV movies. I’ll say the same thing when it comes to Amazon MGM Studios, seeing as how some films qualify for Oscars and others for Emmys.

I’ve worked with Netflix publicists for several years now. But seeing how they prefer streaming over theatrical gives me some pause when it comes to acquisition talks. I imagine I’m not the only person who feels that way. Netflix is the upstart to the legacy studio that they are looking to acquire. Maybe it was kismet, seeing as how Netflix’s Sunset Blvd. offices are right next to the Sunset Bronson Studios, formerly known as the Old Warner Bros. Studio. But it doesn’t leave me without my own fears.

Why Theatrical Still Matters

Please don’t give up on theatrical. Take it from me, I value the theatrical experience. I want to see comedies in theaters, not taking them in solo while watching a press screener. Outside of select Netflix films getting a theatrical release, the large majority of Netflix movies don’t get the same treatment. Will Netflix start doing the same for Warner Bros. movies? I hope not. Warner Bros. is a legacy studio. Lest I remind anyone how Warner Bros. was the only studio with guts during the leadup to World War II.

A-list filmmakers and talent are worried, and they have every right to be because theatrical is where the bulk of the money is made. Listen, both Ted and Reed can talk the talk, but the reality is that when it comes to streaming, films get lost in the algorithm. Back when Netflix aimed to do a movie of the week, I hedged my bets over what to cover in hopes that it would get traffic. The reality is that not everything got traffic because not everything managed to connect with audiences, regardless of who starred in the film.

What’s equally worrisome is that Netflix is likely to treat Warner Bros. releases no differently than their current titles, giving films two weeks in theaters and then just dump it on streaming. This is no way to treat a movie. This is no way to treat your customers. We still give a darn about the theatrical experience. Do you remember the first time you saw a movie in the theater? I do. It was 1988 with The Land Before Time. A few years later, Jurassic Park changed my life. But turning on my TV to watch a new release is not and will never be the same. The home viewing experience isn’t the same as theatrical. It never will be.

Preservation Is on the Line

It’s not just the future of theatrical that scares me in this post-pandemic world. It’s what happens with the Warner Archive Collection and the future of Warner Bros. Entertainment when it comes to home video. I have so many Warner Archive films in my physical media collection and I fear what will happen should Netflix acquire Warner Bros. The same goes for the future of TCM as their future is up in the air. TCM’s own future was very worrying when David Zaslav came on board and started making cuts. Here’s to hoping Steven Spielberg, Martin Scorsese, and Paul Thomas Anderson start speaking out because we cannot afford to lose Warner Archive either.

Even though Netflix has won the opportunity to enter talks to acquire the select Warner Bros. Discovery assets, this doesn’t mean that any deal is official. There’s still the regulatory approval that has to be considered. Under the current fascist administration, this is going to be easier said than done.

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