Netflix and Warner Bros. Discovery, Inc. have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, as well as HBO Max and HBO.
This acquisition brings together two pioneering entertainment businesses, combining Netflix’s innovation, global reach and best-in-class streaming service with Warner Bros.’ century-long legacy of world-class storytelling.
Beloved franchises, shows, and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe will join Netflix’s extensive portfolio, including Wednesday, Money Heist, Bridgerton, Adolescence and Extraction, creating an extraordinary entertainment offering for audiences worldwide.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix.
“By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favourites 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.”
Combination Will Offer More Choice, More Opportunities, More Value
- Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.
- By adding deep film and TV libraries, as well as HBO and HBO Max programming, Netflix members will have even more high-quality titles from which to choose. This also allows Netflix to optimise its plans for consumers, enhancing viewing options and expanding access to content.
- This acquisition will enhance Netflix’s studio capabilities, allowing the Company to significantly expand U.S. production capacity and continue to invest in original content over the long term, thereby creating jobs and strengthening the entertainment industry.
- By uniting Netflix’s member experience and global reach with Warner Bros.’ renowned franchises and extensive library, the Company will create greater value for talent—offering more opportunities to work with beloved intellectual property, tell new stories and connect with a broader audience than ever before.
- By offering members a wider selection of high-quality series and films, Netflix expects to attract and retain more members, drive greater engagement, and generate incremental revenue and operating income.
“This acquisition will improve our offering and accelerate our business for decades to come,” said Greg Peters, co-CEO of Netflix.
“Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create, giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”
David Zaslav, President and CEO of Warner Bros. Discovery, added that for more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped culture. By coming together with Netflix, people everywhere will continue to enjoy the world’s most resonant stories for generations to come.
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