'Netflix acquiring Warner Bros. would be disastrous'
India, Feb. 22 -- Filmmaker James Cameron has written to US Senator Mike Lee opposing Netflix's proposed acquisition of Warner Bros. Discovery, calling it "disastrous" for the movie business.
"I believe strongly that the proposed sale of Warner Brothers Discovery to Netflix will be disastrous for the theatrical motion picture business that I have dedicated my life's work to. my first love is the cinema," Cameron wrote, as quoted by Variety.
Warning of a ripple effect, he added, "Theaters will close. Fewer films will be made. The job losses will spiral."
Cameron argued that Netflix's streaming-first approach clashes with the traditional studio model. "The business model of Netflix is directly at odds with the theatrical film production and exhibition business. It is therefore directly at odds with the business model of the Warner Brothers movie division," he wrote.
He also cautioned that Hollywood's global dominance could suffer. "The U.S. may no longer lead in auto or steel manufacturing, but it is still the world leader in movies. That will change for the worse," added the 71-year-old.
Lee acknowledged the concerns, saying he has heard from "actors, directors, and other interested parties" and plans a follow-up hearing.
Meanwhile, Netflix co-CEO Ted Sarandos has pushed back, arguing the merger would be "better for theaters," claiming Netflix could use Warner Bros.' distribution network to put more of its films in cinemas. HTC...
To read the full article or to get the complete feed from this publication, please
Contact Us.