"In a regulatory filing, Netflix co-CEOs Greg Peters and Ted Sarandos pledged that the streaming giant would continue to release movies to theaters. "We haven't prioritized theatrical in the past because that wasn't our business at Netflix," the pair said in a letter addressed to Netflix employees, highlighting the company's strategic pivot. "When this deal closes, we will be in that business.""
"Netflix was conceived in 1997 by Reed Hastings (the current CEO) and Marc Randolph. Both were big players in the West Coast tech scene. Originally a DVD-rental service, in the same vein as Blockbuster, Netflix broke ground with its mail-order service. The company struggled in the early 2000s, but went public in 2007 and began its video streaming service. Netflix began producing its own programming in 2012 and by 2020 earned more Oscar nominations than any other film studio.Today Netflix reached 301.6 million paid subscribers globally. The United States has 81.44 million Netflix subscribers, making it the largest single market. In Q3 2025, Netflix made $11.51 billion in revenue, a 17% year-over-year increase."
Netflix will buy Warner Bros. Discovery for $72 billion, combining a leading streaming platform with a storied film studio and HBO Max. Warner Bros. rejected a higher offer from Paramount, saying the Netflix agreement was better for shareholders. Netflix co-CEOs Greg Peters and Ted Sarandos pledged to keep releasing films to theaters and signaled a strategic pivot into theatrical distribution. Netflix began in 1997 as a DVD-rental mail-order service, launched streaming after going public in 2007, and started original programming in 2012. Netflix reached 301.6 million paid subscribers globally, with 81.44 million in the United States, and reported $11.51 billion revenue in Q3 2025.
Read at The Mercury News
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