Warner Bros. and the big question that the audiovisual industry is asking today

In this gallery, Miguel Puertas, producer and brand manager of Treintaycinco mm, reflects on the sale of Warner Bros., possible acquisitions by Netflix y Paramount, and the change of model that this key episode in the history of cinema implies.

In recent days, we have witnessed a succession of information, rumors and denials around Warner Bros. Discovery which, beyond their specific accuracy, reflect a fundamental concern that runs through the entire audiovisual industry. As academic director of Treintaycinco mm, and from a position of constant observation of the market and the training of future professionals in the sector, I believe that what is truly relevant It's not who buys from whom, but why this type of news is today so plausible.

The possibility of a takeover bid on Warner Bros. on behalf of the Paramount–Skydance group, added to the noise generated around a hypothetical purchase by Netflix, shows that the sector is going through a phase of deep redefinition. We have left behind the stage of uncontrolled expansion of streaming, the one in which the main objective was to grow in the number of subscribers, even at the cost of profitability. Today the conversation is different: efficiency, sustainability and long-term value.

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The next chapter for cinema and platforms

From my point of view, this cycle change was inevitable. For years, the large platforms competed in a race to produce more, release sooner and occupy all possible spaces in the market. The result was an immense content offering, difficult to sustain financially and, in many cases, difficult to differentiate creatively. The industry has understood, perhaps somewhat late, that Not all growth is healthy if it is not accompanied by a clear strategy.

We have left behind the stage of uncontrolled expansion of streaming (…). Today the conversation is different: efficiency, sustainability and long-term value.

In this context, Warner Bros. represents much more than a historical studio. It is a top-level strategic asset, with a catalog that combines global franchises, creative talent and a production capacity that is difficult to match. Any movement around the company necessarily implies a board rearrangement. Power relations change, distribution agreements are reviewed and redefined which content deserves investment and which no.

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The giants of the sector in the face of creativity

One of the aspects that worries me the most—and that I believe deserves a calm debate—is the impact that these concentration processes have on the creativity and diversity of the sector. Large corporate operations usually bring with them a logic of rationalization: less risk, more control and a clear priority for already consolidated brands and universes. From a business point of view it is understandable; from the creative, poses important questions.

that he mercado come to consider plausible a operation of this magnitude talks about a sector that seeks stability through size.

For the independent producers and for the new talents that are being trained today, this scenario can be especially complex. Less great players means less entry doors and more centralized decision processes. At the same time, it forces us to rethink the rules of the game: look for international co-productions, explore new financing models and opt for greater specialization. The industry is not closed, but yes it becomes more demanding.

The case of Netflix is ​​also revealing. For years he was the great disruptor, the actor who changed the rules of the market. Today, without losing that innovative role, it faces the same challenges as the rest: how to maintain your position in a saturated environment, with increasingly fragmented audiences and growing pressure to demonstrate profitability. That the market comes to consider an operation of this magnitude plausible speaks of a sector that is moving, that seeks stability through size.

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The risks of a new era

From the academic perspective, these movements have a clear reading: the future of audiovisual will not depend solely on the ability to produce content, but on understand the ecosystem as a whole. Training professionals today involves teaching them to read the market, understand business dynamics and adapt to an environment in constant transformation. Creativity, without industrial context, you risk running out of space.

An industry based solely on concentration and efficiency It may be profitable, but it runs the risk risk of impoverishing its diversity.

My final reflection is clear. Beyond Warner, Netflix o Paramount, what is at stake is the industry model that we want to build. An industry based solely on concentration and efficiency It may be profitable, but it runs the risk risk of impoverishing its diversity. The real challenge will be to find a balance between business logic and the need to continue investing in talent, innovation and new voices. If we lose that, we will have gained size, but we will have lost meaning.

Miguel Puertas

Producer and brand manager of Treintaycinco mm