Netflix's Warner Brothers Acquisition Threatens Movie Theaters

Netflixs acquisition of Warner Brothers Discoverys film studio and streaming service has sent shockwaves through the movie theater industry, with exhibitors fearing a decline in theatrical releases and a potential drop in box office sales. Cinema United, the worlds largest exhibition trade association, has strongly opposed the sale, warning of an unprecedented threat to the global exhibition business. Meanwhile, a collective of top industry players has sent an open letter to Congress, detailing potential economic and institutional blowback if the merger proceeds. Netflix co-CEO Ted Sarandos has stated that planned Warner Brothers releases will continue to go to theaters, but concerns remain about the impact on the theatrical business, which has already struggled due to pandemic-related shutdowns and labor strikes.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.