James Cameron has become one of the most vocal critics in Hollywood of the proposed acquisition of Warner Bros. Discovery by Netflix — and he’s now publicly endorsing Paramount.
In a letter to U.S. Senator Mike Lee, who chairs a Senate antitrust subcommittee, Cameron is warning that the deal would harm the traditional moviegoing experience.
Cameron’s argument is that Netflix’s current business model, with its focus on streaming over theatrical distribution could lead to major cinema closures and job losses if Netflix redirects Warner’s theatrical output toward streaming.
The business model of Netflix is directly at odds with the theatrical film production and exhibition business, which employs hundreds of thousands of Americans. It is therefore directly at odds with the business model of the Warner Brothers movie division, one of the few remaining major movie studios. The U.S. may no longer lead in auto or steel manufacturing, but it is still the world leader in movies. That will change for the worse.
I believe strongly that the proposed sale of Warner Brothers Discovery to Netflix will be disastrous for the theatrical motion picture business that I have dedicated my life’s work to. Of course, my films all play in the downstream video markets as well, but my first love is the cinema.
Cameron reiterated his skepticism about Netflix’s approach on The Town podcast with Matt Belloni late last year. Focusing on Netflix CEO Ted Sarandos’ long-held view of theatrical releases, Cameron said bluntly: “I think Paramount’s the best choice. Netflix would be a disaster. Sorry, Ted, but geez.” He added that Sarandos “has gone on the record saying theatrical films are dead. ‘Theatrical is dead. Quote, unquote.’”
Whether Sarandos’ recent promises amount to anything more than temporary damage control remains to be seen. Once a deal of this magnitude is finalized, priorities can shift quickly—and the fear that Warner Bros. could be reduced to a content pipeline for Netflix is not exactly far-fetched. Regardless, it’s worrisome enough that it has recently earned skepticism from Christopher Nolan, who said he has “very significant concerns” about the deal.
It’s quite clear that Cameron and Nolan have read Sarandos’ past comments, which include calling theatrical rollouts “an outmoded idea.” Sarandos also claimed that watching “Lawrence of Arabia” on your phone was “just as good” as seeing it on the big screen. Also, the same man who insisted that “Barbenheimer” would “have had the same cultural impact” if it had gone straight to Netflix.
For guys like Cameron and Nolan, this is personal, and they clearly don’t trust Sarandos — no matter how many promises he makes.
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