Multiplex Association of India expresses concern over Netflix-Warner Bros deal

The Multiplex Association of India (MAI) has expressed serious concern over the proposed acquisition of Warner Bros. Discovery by Netflix, saying the move could impact the availability of theatrical content in the country.

Earlier in the day, Netflix and Warner Bros. Discovery (WBD) announced a definitive agreement under which Netflix will acquire Warner Bros., including its film and TV studios, HBO and HBO Max. The cash and stock deal values ​​WBD at $27.75 per share, with a total enterprise value of approximately $82.7 billion.

The MAI said cinemas rely on a stable and diverse slate of films to attract audiences and sustain the broader theatrical economy. The association said Warner Bros. has been an important supplier of titles to Indian theatres, and the acquisition by the streaming platform could change long-standing release patterns.

MAI President Kamal Gyanchandani said, “The Indian theatrical market thrives on choice, scale and cultural diversity. Warner Bros. has historically been a key partner to Indian cinemas, consistently contributing to our release calendar with successful global and local titles.” He said cinemas serve as “cultural centers and important economic contributors”, supporting livelihoods in production, distribution, exhibition, food and beverage and other supporting sectors.

In a joint announcement, Netflix and WBD said the combination will bring together Netflix’s global reach and streaming capabilities with Warner Bros.’ catalog and franchises such as Game of Thrones, Friends, Harry Potter, DC Universe and classic titles such as Casablanca and The Wizard of Oz.

Netflix said it intends to retain Warner Bros.’ Current operations, including theatrical releases, and expected benefits for consumers, creative talent and the entertainment industry are highlighted.

Gyanchandani said Netflix’s approach to theaters has been limited so far. He said, “Netflix has consistently made it clear through its limited and highly restrictive approach to theatrical releases that it does not believe in a cinema-first model.”

According to the MAI, potential risks include “a meaningful reduction in high-quality content for theaters, and the possibility of smaller or non-existent theatrical windows.” The association said this could impact revenues, limit consumer choice and put pressure on the wider film value chain.

MAI said the scale of the proposed deal requires close regulatory scrutiny and it will continue to raise its concerns with authorities in India and internationally.