Netflix, as part of its offer to acquire Warner Bros. Discovery’s studios and streaming biz, has pledged to continue releasing WB’s movies in theatres, Variety confirmed.
Sources familiar with the situation said Netflix informed WBD execs that the streamer would honour Warner Bros.’ contractual agreements to release movies in theatres if it secures a deal to acquire the assets. Netflix’s commitment to the Warner Bros. theatrical slate was first reported by Bloomberg.
Warner Bros. Discovery‘s board is in the process of evaluating in-bound acquisition offers, with initial bids due Nov. 20. The media conglomerate said it will consider proposals in which the Warner Bros. entity (HBO Max and studios) is sold separately from Discovery Global, the TV-centric company. The bidders include David Ellison’s Paramount Skydance (which wants to acquire the entire company) and Netflix and Comcast (which are expected to make bids for Warner Bros. without the linear TV networks).
Netflix for the most part has shunned releasing its own movies in theatres, with exceptions for awards-qualifying theatrical runs. Netflix co-CEO Ted Sarandos has called the theatrical moviegoing experience “an outdated concept.” At a Time magazine conference in April, Sarandos said, “Folks grew up thinking, ‘I want to make movies on a gigantic screen and have strangers watch them [and to have them] play in the theatre for two months and people cry and sold-out shows … It’s an outdated concept.”
More recently, Netflix has opportunistic about bringing some of its most popular originals to theatres with special events. Netflix’s two-hour “Stranger Things” finale will hit cinemas on New Year’s Eve and New Year’s Day as the episode simultaneously drops on the streamer. The company also released a sing-along version of smash hit “KPop Demon Hunters,” its most-watched movie ever, in U.S. theatres in August and then again over Halloween weekend.
Warner Bros. Discovery Bids Are Due This Week. How Do Paramount, Netflix, Comcast Stack Up?
On WBD’s third-quarter 2025 earnings call, chief David Zaslav touted the theatrical performance of recent releases, including James Gunn’s “Superman” and horror titles “Weapons” and “The Conjuring: Last Rites,” which have together grossed more than $750 million in ticket sales. “As we look ahead, 2026 and 2027 will be a robust and strong slate of motion pictures,” he said.
Love Film & TV?
Get your daily dose of everything happening in music, film and TV in Australia and abroad.
Among Warner Bros.’ upcoming titles: a third installment in the “Gremlins” franchise, set for theatrical release Nov. 19, 2027, from executive producer Steven Spielberg with Chris Columbus returning to direct and produce; and “The Lord of the Rings: The Hunt for Gollum,” directed by Andy Serkis and produced by Peter Jackson, Fran Walsh and Philippa Boyens, slated to open in theatres Dec. 17, 2027.
Warner Bros. Discovery has told investors that it is aiming to release 12-14 films theatrically per year from Warner Bros. Pictures, DC Studios, New Line Cinema and Warner Bros. Animation. Zaslav cited WB’s “tentpoles” and “mini-tentpoles” such as Lord of the Rings, Batman, Superman, Wonder Woman, Gremlins, Goonies and Practical Magic. “You haven’t seen Lord of the Rings for over a decade,” Zaslav said.
Zaslav also called out the animated “Cat in the Hat” movie starring Bill Hader (slated to premiere Feb. 26, 2026). In addition, Warner Bros. is set to release Emerald Fennell’s adaptation of “Wuthering Heights,” starring Margot Robbie and Jacob Elordi, in theatres Feb. 13, 2026.
From Variety US