Netflix Film Chairman Dan Lin discusses streamer's cinematic path post Warner Bros offer

In Netflix‘s chase for Warner Bros, Netflix co-CEO Ted Sarandos pledged to maintain a 45-day exclusive window to PVOD for the studio's films.

This vow came after significant industry and media pressure, given Netflix's past for narrowing the window between theatrical showings and their Netflix debut.

So where does Netflix stand now with theatrical releases? Is it still part of their strategy? The studio has two major titles lined up that would be ideal for wide theatrical releases, sure to draw theaters nationwide: David Fincher’s Once Upon a Time in Hollywood follow-up, The Adventures of Cliff Booth, set for August, and Greta Gerwig’s Narnia, which will have a two-week Imax (limited) premiere on Thanksgiving, Nov. 26, in 1,000 locations across 90 countries.

At today's Next on Netflix event, Chief Content Officer Bela Bajaria clarified: “There is Warner Bros theatrical distribution, and then there’s Netflix, which operates differently. I want to make sure you understand the distinction. Ted (Sarandos) was discussing how Warner Bros operates differently from Netflix.”

Netflix Film Chairman Dan Lin added after Bajaria, “I would suggest giving us some time.”

“The Warner Bros agreement just concluded as far as our participation and following the Academy Awards. We are predominantly a streaming service, and this approach is highly effective for us. Our viewers enjoy seven movies a month. We built stronger ties with theater owners through the Warner process, having numerous conversations, so please give us some time.”

The executives are aware of how theater viewings have elevated their TV properties, sparking fan enthusiasm and gatherings, like the The Stranger Things series finale in theaters on New Year’s Day, earning over $25M (in concession income because tickets weren't sold), KPop Demon Hunters Singalong in late August, which amassed $19M in two days; Netflix’s initial weekend box office topper, and the first two season 2 episodes of One Piece in 200 theaters in the US and Japan.

“We’re aiming to create special theatrical experiences,” said Lin, “but please give us some time.”

When questioned by a Variety journalist about concerns over rivals offering theatrical options, Lin responded, “We are pleased with the directors we currently have,” acknowledging talents like Clint Bentley, Guillermo Del Toro, and Fincher.

Concerning whether Netflix’s festival acquisitions are slowing, Lin mentioned, “We maintain a blend: We aim to produce some prestigious films, but also acquire others.”

Bajaria highlighted at the start of today’s briefing that the streamer is dedicating a $20 billion content budget this year, bolstering employment and supporting the film and TV industry.