Warner Bros Discovery (WBD) has agreed to sell its iconic studio and streaming assets to Netflix (NFLX) for $72 billion, a blockbuster deal that will reshape Hollywood and create a vertically integrated media powerhouse.
The deal ends a weeks-long bidding war with Paramount Skydance and Comcast, coming amid sweeping changes in the media industry as streaming grows while traditional linear television declines.
Warner Bros Discovery owns the HBO Max streaming service and a vast library of feature films, including franchises such as Wonder Woman, Harry Potter, and Batman. Its studios include Warner Bros Motion Picture Group, DC Studios, and Warner Bros Television Group. Warner Bros Pictures Animation, which began with Looney Tunes in 1930, has produced classics like The Iron Giant, The Lego Movie franchise, and Happy Feet.
For fiscal 2024, Warner Bros Discovery reported total revenue of $39.32 billion, down about 5%, with studios revenue declining 5% to $11.61 billion. The company’s streaming unit—including HBO Max and discovery+—added 2.3 million net subscribers in Q3, reaching 128 million globally, up 16% year-over-year. Revenue for the streaming unit rose roughly 16% to $39 billion in 2024.
Netflix, which now gains control of these assets, had 301.6 million total subscribers in 2024, driven by both subscription fees and ad-supported plans. In 2024, Netflix added 589 new Originals—up nearly 4% from 2023—including hits such as Stranger Things and KPop Demon Hunters.
Industry analysts say the merger creates a combined entity with unmatched content depth, combining Warner Bros’ storied franchises and production capabilities with Netflix’s global streaming reach, signaling a new era of competition among media giants.
By DNU Staff