What does Netflix's purchase of Warner Bros. mean for theatrical releases?
On Friday, Netflix announced it would be buying Warner Bros. for a whopping $82.7 billion.
The deal, which still needs to be approved by the United States Securities and Exchange Commission (SEC), would see Netflix acquiring Warner Bros. and its film and TV studios, along with HBO and HBO Max. Netflix will now also own the Warner Bros. catalogue, including major film franchises like DC and the Monsterverse. How will the theatrical releases of upcoming Warner Bros. film look now that they're owned by a streaming service? Here's what we know.
The good news: Theatrical releases of Warner Bros. films aren't going anywhere yet.
Don't worry, the next Dune film won't be zapped straight to streaming. According to the SEC filing and a statement from Netflix and Warner Bros. Discovery, "Netflix expects to maintain Warner Bros.' current operations and build on its strengths, including theatrical releases for films."
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According to Variety, Warner Bros. currently has contracts in place to release films in movie theaters through 2029. Bloomberg also reported that continued theatrical releases were a major part of Netflix's bid to acquire Warner Bros., so the streamer appears committed to keeping Warner Bros. films in cinemas.
The bad news: Those Warner Bros. theatrical releases could look shorter.
However, Netflix CEO Ted Sarandos has made comments that could point to shorter theatrical runs for Warner Bros. films, not unlike Netflix's limited releases of its own films.
"It’s not like we have this opposition to movies in theaters," Sarandos said in a Friday conference call with press and investors, Variety reported. "My pushback has been mostly in the fact of the long exclusive windows, which we don’t really think are that consumer friendly, but when we talk about keeping HBO operating, largely as it is, that also includes their output movie deal with Warner Bros., which includes a life cycle that starts in the movie theater, which we’re going to continue to support.”
He continued, saying, "I think, over time, the windows will evolve to be much more consumer friendly, to be able to meet the audience where they are quicker."
On Dec. 4, Variety reported that a group of anonymous Hollywood A-listers are lobbying Congress about the acquisition, with theatrical releases being a top concern. Sources told Variety that Netflix's proposal for the acquisition included theatrical windows as short as two weeks prior to a streaming release. Another source denied this shorter timeline, saying release periods would actually be longer.
Netflix's current theatrical release plan for its own films involves shorter release periods in limited theaters. You won't find films like Frankenstein or Wake Up Dead Man: A Knives Out Mystery at big movie chains like AMC or Regal.
Netflix has moved into wider theatrical releases in 2025, with KPop Demon Hunters and the Stranger Things Season 5 finale both getting releases in AMC and Regal theaters. However, those runs are limited to two to three days, with Netflix continuing to prioritize streaming exclusivity.
Belen Edwards is an Entertainment Reporter at Mashable. She covers movies and TV with a focus on fantasy and science fiction, adaptations, animation, and more nerdy goodness. She is a member of the Critics Choice Association and the Television Critics Association, as well as a Tomatometer-approved critic.
