Netflix Co-CEO Ted Sarandos Urges DC to Expand TV Projects Like ‘The Penguin’ After Warner Bros. Acquisition

Netflix CEO Ted Sarandos has confirmed that the streaming giant will continue supporting theatrical releases for Warner Bros. films, even after its $82.7 billion acquisition of the studio’s film and TV assets.

Speaking during an investor call, Sarandos emphasized that Netflix has no opposition to movies in theaters. “We’ve released around 30 films in theatres this year so it’s not like we have this opposition to movies in theatres. Our push back is on the long, exclusive windows, which we don’t really think are that consumer-friendly,” he said.

Sarandos reassured that Warner Bros. films planned for theatrical release will still hit cinemas as scheduled. “Everything that is planned on going to the theatre through Warner Bros will continue to go to the theatre through Warner Bros. Netflix films will take the same strategy as they have which is some of them do have a short run in the theatre beforehand, but our primary goal is to bring first-run movies to our users because that’s what they’re looking for,” he added.

The Netflix chief also spoke about the opportunities the company sees in Warner Bros.’ vast portfolio of intellectual property. He pointed to the DC universe and recent projects like The Penguin as examples of how Netflix plans to expand the studio’s storytelling. “You should think about the ways you can explore all these IP universes beyond making tentpole movies,” he said. “Examples of this would be some of the earlier moves in the DC universe on things like Penguin. Those opportunities are limitless.”

Netflix plans to use franchises like Harry Potter, Game of Thrones, and the DC universe to develop new projects and explore creative storytelling, according to Sarandos. He also referenced past successes with MGM’s Addams Family as an example of how Netflix intends to unlock potential in acquired IP.

Despite Netflix’s assurances, the acquisition has raised concerns among cinema industry groups. The International Union of Cinemas (UNIC) warned that the deal could lead to “reduced income and significant cinema closures and job losses in the industry.” Similarly, Michael O’Leary, president and CEO of Cinema United, called the deal an “unprecedented threat to the global exhibition business.”

It’s clear Netflix is eager to leverage Warner Bros.’ IP while maintaining theatrical releases, but the industry is watching closely to see how these plans play out. Personally, I think Netflix expanding on DC projects like The Penguin could bring fresh energy to streaming and theater audiences alike, as long as theaters remain a key part of the strategy.

What do you think about Netflix using Warner Bros. IP for series like The Penguin? Do you prefer these stories in theaters, or is streaming enough? Share your thoughts in the comments.