Netflix has announced a blockbuster agreement to acquire Warner Bros’ film and streaming divisions for US$72 billion, a deal that will give the streaming giant ownership of globally renowned franchises including Harry Potter and Game of Thrones. The acquisition is one of the largest in Hollywood history and marks a major shift in the entertainment industry’s competitive landscape.
Under the deal, Netflix will gain control of Warner Bros’ movie studio, television production units, and its streaming service, significantly expanding the company’s content library. Analysts say the move positions the company to better compete with rivals such as Disney+, Amazon Prime Video, and Apple TV+, particularly in global markets where franchise-driven content drives subscriptions.
The acquisition also includes Warner Bros’ intellectual property rights, allowing Netflix to develop new films, series, and spin-offs from established franchises. This access is expected to bolster its content pipeline and attract a wider subscriber base, particularly among fans of blockbuster franchises. U
Warner Bros shareholders will receive a combination of cash and Netflix shares, giving them a stake in the combined company. The transaction is expected to close in mid-2026, pending regulatory approvals in the U.S., Europe, and other key markets. Antitrust authorities will likely scrutinize the deal due to its potential impact on competition in film production and streaming services.
Netflix CEO has described the deal as a “transformative step” for the company, enabling the platform to deliver premium content to over 300 million subscribers worldwide. Industry observers note that this acquisition could reshape licensing agreements, theatrical releases, and streaming strategies across the entertainment sector.
Financial analysts highlight that while the US$72 billion price tag is substantial, Netflix gains a portfolio of high-value content that could generate long-term revenue through subscriptions, merchandising, and ancillary rights. Warner Bros’ film pipeline for 2026–2030, which includes several tentpole releases, is expected to be integrated into Netflix’s platform, offering global simultaneous releases.
The deal comes amid increasing consolidation in the entertainment industry, where streaming platforms are seeking scale, exclusive content, and franchise ownership to maintain growth. Netflix’s move underscores the importance of content ownership in attracting and retaining subscribers in an increasingly crowded streaming market.
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