Netflix Pledges to Play by Theatrical Rules

Netflix co-CEO Ted Sarandos is promising to honor a 45-day theatrical window for Warner Bros. films if the streamer’s blockbuster acquisition is approved. The pledge marks a major pivot for the company that once dismissed moviegoing as an "outmoded idea."

• Business, not religion: Sarandos framed the decision as pure business pragmatism, a stark departure from his previous dismissals of the cinema experience. "This is a business, not a religion," he told analysts. "So conditions change and insights change, and we have a culture that will reevaluate things when they do."

• A skeptical audience: The charm offensive comes as the deal faces intense industry opposition from groups like Cinema United, which has called the acquisition an "unprecedented threat." That skepticism is understandable given Netflix's track record, as the streamer has historically treated cinemas as a tool for awards qualification, not as a primary venue for its major releases.

• Never a top priority: Sarandos claims a move onto the big screen isn't a foreign concept, but that building a theatrical arm simply "didn’t make the priority cut" amidst other investments. The Warner Bros. deal, he argued, simply hands Netflix a "mature, well-run" operation that it is "excited to maintain."

By promising to become a theatrical player, Netflix is trying to win over Hollywood. But after years of prioritizing the living room, the company now has to prove to a wary industry that its commitment to the big screen is more than just a convenient closing tactic.

The news comes as the battle for Warner Bros. is heating up, with a hostile takeover attempt from Paramount Skydance reportedly pressuring Netflix to switch its bid to an all-cash offer.