Netflix’s Greg Peters Questions Media Deals Amid Warner Bros. Discovery Interest

Netflix has downplayed rumors of a bid for Warner Bros. Discovery. Co-CEO Greg Peters commented on the speculation during an industry conference. He emphasized the company’s preference for building its own assets.

The remarks offer a rare glimpse into Netflix’s strategic thinking on major mergers. Peters cited the historically poor track record of large media combinations. However, he did not completely rule out considering such a move in the future.

Building Over Buying: Netflix’s Core Philosophy

Greg Peters spoke at the Bloomberg Screentime conference. Interviewer Lucas Shaw asked him about reports of Netflix’s interest. Peters stated the company comes from a “deep heritage of being builders rather than buyers.”

He advised having a “reasonable amount of skepticism” around big media mergers. According to Peters, these deals have not had an amazing track record over time. Despite this, he confirmed it is their responsibility to evaluate all options for growth.

Strategic Focus Shifts to Gaming and Creator Partnerships

Instead of acquisitions, Netflix is investing heavily in its gaming division. Peters announced new family party games for TV sets. Titles like LEGO Party! and Tetris Time Warp are coming soon.

Peters also addressed Netflix’s engagement levels. He stated he is “not happy” that engagement is not growing. The company will not chase user-generated content like YouTube, but will instead focus on partnering with the best creators from platforms like TikTok and YouTube to tell compelling stories.

The future of streaming continues to evolve with major players like Netflix carefully weighing their options. While a Warner Bros. Discovery acquisition seems unlikely, the company remains committed to strategic growth. Its focus is clearly on defending its lane through innovative content and new gaming experiences.

Dropping this nugget your way-

Q1: Is Netflix buying Warner Bros. Discovery?

Netflix co-CEO Greg Peters expressed significant skepticism about such a deal. He cited the poor historical track record of big media mergers. The company has not made a formal offer.

Q2: What did Greg Peters say about the potential acquisition?

Peters stated Netflix’s philosophy is to build rather than buy. He called for healthy skepticism regarding large media combinations. He did, however, say Netflix must evaluate all growth options.

Q3: What new products is Netflix launching?

Netflix is expanding its gaming library with new family party games for TV. This includes titles like *LEGO Party!* and *Pictionary: Game Night*. The launches are scheduled for the coming weeks and months.

Q4: How does Netflix feel about its current engagement?

Co-CEO Greg Peters said he is unhappy that engagement is not growing. He acknowledged that Netflix should be growing more. The company is seeking new ways to increase user time on the platform.

Q5: Will Netflix compete directly with YouTube?

Netflix has no plans to enter the user-generated content space. Peters said the “dumbest move” would be to try and match YouTube in every way. The strategy is to partner with top creators for premium storytelling instead.