Netflix’s Ted Sarandos Calls for More DC TV Shows Like ‘The Penguin’ Following Warner Bros. Deal

Netflix CEO Ted Sarandos has assured fans and investors that Warner Bros films will continue to hit theaters, even after the streaming giant confirmed its $82.7 billion acquisition of the studio’s film and TV assets.

The comments came during an investor call, where Sarandos addressed concerns over the future of theatrical releases under Netflix ownership.

“We’ve released around 30 films in theatres this year so it’s not like we have this opposition to movies in theatres. Our push back is on the long, exclusive windows, which we don’t really think are that consumer-friendly,” Sarandos said.

He added that HBO’s existing movie deals with Warner Bros, which include theatrical runs, will remain intact. “You should count on everything that is planned on going to the theatre through Warner Bros will continue to go to the theatre through Warner Bros. Netflix films will take the same strategy as they have which is some of them do have a short run in the theatre beforehand, but our primary goal is to bring first-run movies to our users because that’s what they’re looking for.”

Sarandos also spoke about Netflix’s plans to expand on Warner Bros’ rich library of intellectual property, including the DC Universe, Harry Potter, and Game of Thrones. He encouraged exploring new TV and streaming projects based on existing IP. “Examples of this would be some of the earlier moves in the DC universe on things like Penguin. Those opportunities are limitless,” Sarandos explained.

He referenced Netflix’s previous success in unlocking storytelling potential from existing franchises, citing the Addams Family as an example.

The announcement has not been without pushback. The International Union of Cinemas (UNIC), which represents European exhibitors, warned that the deal could lead to “reduced income and significant cinema closures and job losses in the industry.” Similarly, Michael O’Leary, CEO of Cinema United, stated the acquisition “poses an unprecedented threat to the global exhibition business.”

Netflix’s commitment to theatrical releases appears to aim at balancing its traditional streaming model with the expectations of the film industry, while also leveraging Warner Bros’ iconic franchises for future TV and streaming projects.

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