How Netflix stole Warner Bros from David Ellison
Hollywood’s old guard long underestimated streaming pioneer Netflix, which has transformed the entertainment industry over two decades. In 2010, Jeff Bewkes, former CEO of Warner Bros’ parent company, dismissed Netflix’s potential disruption as unlikely, yet on Friday Netflix, originally a mail-order DVD rental service, agreed to buy Warner Bros for $83 billion, dramatically shifting power in the entertainment sector.
Source Financial Times
This deal marks a surprising triumph for the tech sector over traditional Hollywood studios. Warner Bros, once led by Bewkes’ company, is now under Netflix’s control, greatly enhancing the streaming platform’s influence in the global media landscape.
This is only the beginning of the entertainment industry’s transformation, and Netflix’s future moves could further redefine how content is produced and distributed worldwide.
