In a stunning turn of events, Warner Bros. is now in negotiations with Netflix on possibly sharing original content.
In a stunning development, Warner Bros. Discovery is reportedly in talks to work with a rival streaming company in an unprecedented business move. As the bubble of streaming services continues to evolve, consumers have many options to choose from. The granddaddy of them all, Netflix revolutionized entertainment and paved the way for Max, Prime Video, Hulu, AppleTV+, Disney+, Paramount Plus, Peacock and more. Many thought the bubble would eventually pop since the marketplace would seem flooded, but perhaps beforehand, the companies would decide to work together.
Deadline reports that Warner Bros. Discovery is letting its gate down with a deal to license the HBO original comedy series Insecure to Netflix. And this may be the first of many titles. This would be a historic deal since HBO has not streamed any of its original series on a rival streaming platform in the U.S. in its near decade’s existence. Insecure, which ran for five seasons and concluded in 2021, is the first title on the block for negotiations.
Sources are reporting this as a financial decision for Warner Bros. Discovery. The CEO, David Zaslav, who is new to the studio, has been making infamously radical decisions since his takeover, and this can be put up with the other surprising developments in the company. It is said that HBO veteran suits have been opposing this proposal. However, the corporate financial consideration ultimately became the deciding factor. Industry insiders still maintain that the deal is still in negotiations, and it is still possible that talks could fall by the wayside. Obviously, HBO would still be the parent distributor of its original programming, so the shows are not going to be broadcasted on an exclusive basis but in joint custody.
Zaslav has made headlines for his process of trying to improve the bottom line for the company. He had been open early on about knocking down the walls of content exclusivity if it meant it would help boost profits. Earlier this year, HBO titles such as Westworld would be distributed to free streaming services (not considered rivals) such as Roku and Tubi. In the past, HBO has had their shows play in syndication on networks like TBS with the Sex and the City episodes. Additionally, Warners had worked with Amazon Prime Video prior to them becoming an original programming competitor when they licensed shows like The Sopranos, Deadwood, Six Feet Under and The Wire for the service.
Originally published at https://www.joblo.com/warner-bros-discovery-license-hbo-netflix/