Following the news that Warner Bros. Discovery was being up for sale, fans of some of our favourite television shows have been eager to learn which companies would be competing to bid on the entertainment conglomerate.
Now it has been officially confirmed. The winner is Netflix!
According to the recent press release announcing the deal:: “Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.”
With Warner Bros. Discovery owning the rights to the Harry Potter franchise television shows and movies, this is excellent news if you're in Netflix HQ.
Advert
How it affects the product that fans love so dearly remains to be seen.
The Harry Potter franchise will join entertainment franchises such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe as they make their debut on Netflix in the future.
Netflix and the Future of Entertainment
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix.
“By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better.
Together, we can give audiences more of what they love and help define the next century of storytelling.”
However, the $83bn (£62bn) deal may have negative connotations on the future of theatrical releases, as we have seen some instances of already.
James Cameron, the director of both Titanic and Avatar, has previously expressed concern over this, claiming that it would be a “disaster” if Netflix continued acquiring rights in this manner. Additionally, the merger has increased worries over possible job cuts.
Now that this merger has gone ahead, there will be some significant changes in the movie-sphere over upcoming years, with some of our favourite popular franchises not receiving theatrical releases.
Harry Potter on TV vs Hogwarts Legacy
With the upcoming HBO Harry Potter television show expected to air some time in 2027 courtesy of HBO (which is also owned by Netflix), it remains to be seen if this new deal has any effect on the future of the beloved franchise.
Not only that but with Hogwarts Legacy 2 being in development, decisions will have to be made about its future now that the Harry Potter entertainment rights have been handed over to Netflix.
Before the merger, show bosses had been working with the Hogwarts Legacy 2 development team to bridge elements of both products. The first steps of that have already been formed; leaked set photos show the transfiguration courtyard designed to replicate the first Hogwarts Legacy.
It's now up to Netflix if it wants to continue with this bridge between TV and video game. With no clarity over where the future ownership of Hogwarts Legacy 2 lies - it isn't with Netflix - would the streaming giant really want to push marketing for a potential rival? Time will tell.
Topics: Netflix, Harry Potter, TV And Film, Warner Bros