The debate about the future of the film industry in Hollywood has gained traction in the past week, especially as Mark Ruffalo openly confronted James Cameron following the latter’s statement that a possible acquisition of Warner Bros. Discovery by Netflix would be “disastrous for the theatrical motion picture business.”
In a letter to Senator Mike Lee, who chairs the antitrust subcommittee in the U.S. Senate, James Cameron, who directed the famous film series based on the movie Avatar, expressed his concern that if Netflix acquired Warner Bros. Discovery, the effects could be very negative for the film industry. According to him, the acquisition could lead to the closure of many theaters, a reduction in the number of films produced, and a series of job losses in an industry that still largely depends on the traditional theatrical model of film distribution.
Mark Ruffalo calls for equal scrutiny across all major studio mergers
However, Ruffalo countered. In a series of social media posts, Ruffalo questioned whether or not Cameron’s concerns were being selectively applied. In other words, would the filmmaker be speaking out against the monopolization of the industry if Netflix were to be acquired by Paramount? Ruffalo also went on to expand the question by asking if Senator Lee was also speaking out against all of the consolidation happening within the industry. In speaking, “So… the next question to Mr Cameron should be this. ’Are you also against the monopolization that a Paramount acquisition would create? Or is it just that of Netflix?’ I think the answer would be very interesting for the film community to hear, and one that should be asked immediately. Is Mike Lee against the Paramount sale as well? Is he as concerned about that as he is the Netflix sale? We all want to know. Speaking on behalf of hundreds of thousands of filmmakers worldwide,” Ruffalo attempted to elevate the conversation beyond simply pro-Netflix or anti-Netflix and more towards the idea of consolidation within the entertainment industry as a whole.
But why is all of this happening now? The reason is quite simple: Netflix is reportedly in talks to purchase Warner Bros. Studios and HBO Max for an $83 billion deal, while Paramount Skydance has been given a brief window of time to put together a competitive bid. In fact, shareholders of Warner Bros. Discovery will be voting on the Netflix purchase as soon as March, which will determine the fate of one of the last major studios in Hollywood.
But in yet another layer, Netflix Co-CEO Ted Sarandos has repeatedly stated that the theatrical rollout strategy of Warner Bros. Studios will be kept in place even if Netflix were to purchase the studio, going so far as to say that he would “take a blood oath” on the matter.
