LONDON, February 29, 2024 — Paramount Global Chairman and CEO David Ellison is making a direct appeal to the U.K.’s creative industries, outlining a series of commitments should his company succeed in acquiring Warner Bros. Discovery (WBD). The move comes as Netflix has reached a mega-deal to potentially acquire WBD’s studios and streaming businesses, and Ellison argues a combined Paramount-WBD would foster greater competition in the entertainment landscape.
A Pledge to Protect Storytelling and Choice
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Ellison’s open letter details plans for increased film production, preservation of HBO’s independence, and a commitment to theatrical and home video releases.
- Paramount and Warner Bros. Studios would each produce a minimum of 15 films annually.
- HBO would continue to operate independently.
- Every film will receive a theatrical release with a minimum 45-day window.
- The combined entity aims to strengthen competition against dominant streaming platforms.
Addressed to “the British creative community, fellow film lovers and television fans, the industry at large, and all who care deeply about the future of cinema and the arts,” Ellison emphasized the power of visual storytelling. “Films and television transcend age, ethnicity, politics, and socio-economic status, connecting us through shared experience,” he wrote. “They entertain and inspire us, transport us to new worlds, preserve our history, and expand our sense of what is possible.”
Ellison contends that a merger between Paramount and WBD would present a strong alternative to Netflix’s growing market power. He believes this combination would “strengthen competition by creating a more capable and effective rival to the dominant platforms,” contrasting it with what he sees as Netflix’s path toward potential market dominance.
Boosting Film Production and Supporting Creators
A core commitment outlined in Ellison’s letter is a significant increase in film production. “Paramount Studios and Warner Bros. Studios will each produce a minimum of 15 high-quality feature films per year, for a total of at least 30 films annually across the group,” he stated. This represents a substantial increase for Paramount, which has already boosted its output from eight to 15 films since the Paramount-Skydance transaction closed last August.
Beyond increased production, Ellison pledged continued support for independent filmmakers and content creators. Both studios will actively license their content across various platforms and remain buyers of third-party productions, fostering a “vibrant third-party ecosystem.”
Preserving HBO and Championing Theatrical Releases
Recognizing the prestige and quality associated with HBO, Ellison assured the creative community that the network would maintain its independence under Paramount’s ownership. “HBO will continue to operate independently under our ownership, enabling it to create more of the world-class content it is renowned for,” he wrote.
In a nod to traditional film distribution models, Ellison also committed to a robust theatrical window. “Every film will receive a full theatrical release, with a minimum 45-day window globally before becoming available on paid video-on-demand (VOD), with the intention of 60-90 days or more to maximize the audience for our most successful releases.” He added that the company will continue to honor existing windowing agreements.
Maintaining the Home Video Experience
Ellison also addressed the importance of the home video market, stating that films will transition to the “current industry standard home video window” following their theatrical run, ensuring paid video-on-demand availability before subscription streaming services.
