James Cameron recently voiced strong concerns about Netflix’s potential acquisition of Warner Bros. He believes this merger could lead to significant job losses, alter the movie industry, and hurt film exports. Cameron sent a letter to Senator Mike Lee, who leads the Senate antitrust subcommittee, highlighting these issues.
In his letter, Cameron stated, “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.” He emphasized that while his films do well in streaming, his true passion lies in cinema.
Cameron fears that fewer blockbuster films like his would be produced if the merger happens. He warned that this could lead to theater closures and spiraling job losses, arguing, “The business model of Netflix is directly at odds with the theatrical film production and exhibition business, which employs hundreds of thousands of Americans.”
Senator Lee acknowledged Cameron’s worries, saying he has heard from many in the film industry about the merger. He plans to hold follow-up hearings to discuss these concerns further.
Cameron also pointed out that the merger could harm U.S. film exports. While the U.S. may be losing its edge in auto and steel manufacturing, it still leads the world in film production. He fears this could change if Netflix takes over Warner Bros.
This discussion is part of a larger trend where filmmakers and actors are increasingly vocal about their concerns regarding streaming services and their impact on traditional cinema. A recent survey found that nearly 75% of filmmakers worry about the future of theaters due to the rise of streaming platforms.
With the landscape of the film industry shifting rapidly, many are watching closely to see how these changes will unfold. Keeping an eye on this merger’s impact could be crucial for anyone invested in the future of cinema. For more details, check out CNBC’s coverage.
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James Cameron,Warner Bros. Discovery
