Netflix’s deal to buy Warner Bros. for $72 billion was the talk of the trade souk over the Red Sea International Film Festival weekend in Saudi Arabia, as guests weighed the implications for international business.
“At the moment, we cannot say that Netflix is providing the theater industry with what it really needs to survive this moment of crisis: a minimum exclusive window system,” Gaetan Bruel, director of France’s National Center for Cinema and Animation (CNC), said during a panel discussion entitled “Securing the Future of the Industry” hosted by David Taghioff, CEO of Library Pictures International.
“When releasing frankenstein How can it expect to survive when it’s only in theaters in the US for a week? ” Bruel said. He cited comments from Netflix CEO Ted Sarandos that Windows will evolve to become “more consumer-friendly.”
“We should be asking, in return, how can we make cinema windows more exhibitor-friendly?” Bruel said. “That way they can continue to exist and continue to do their jobs.”
“As we say in English, you can’t have your cake and eat it too,” streamer Bruel said.
“Netflix has always been a disruptor,” said Julie Labassiere, chief strategy officer at telecommunications company DDA, who was more upbeat about a potential acquisition. “Out of chaos comes opportunity.”
“I hope independent filmmakers see this as an opportunity to do something a little different,” La Bassiere said. “Be a little more mindful, be a little more creative, and provide an alternative voice for what we think is going to be this huge unified content.”
MBC Studios producer Ali Jaafar said the deal is far from complete. “We’re all very excited about this news, but there’s a long way to go before it actually becomes a reality,” said Jaafar, executive producer of the festival title Kauser Ben Hania. hind rajab voice.
Jaafar also saw an opportunity for local content if regional providers of HBO titles (such as OSN in the MENA region) are no longer able to lease those titles. “How can OSN maintain a premium service for its viewers if that content is no longer available? The answer may lie in local original content, which presents an opportunity for Arab producers.”
“Watching movies is a matter of habit, so it’s important to protect your windows,” said Diane Ferrandez, senior vice president of worldwide sales and distribution at American company AGC Studios. “There should be two models: streaming and theatrical.”
Isabella Sreyashii Sen, co-producer of the festival titled “New Visions” early daysidentified “opportunities and responsibilities” in acquisitions.
“The unprecedented scope of opportunity presented by such a merger and the responsibility to ensure that film continues to be nurtured as a cultural heritage.”
Netflix is hosting a social event in the Red Sea tonight (Sunday, December 7th). Company executive Imane Mezer Gibran, head of nonfiction content for the Middle East and Africa, will be in Jeddah on Thursday to speak on a panel discussion in the souq about nonfiction storytelling.
(Tag translation) France
