Will Netflix’s mega Warner Bros deal dim the lights on Indian theatres?

Netflix and Warner Bros deal

India’s cinema industry is raising serious red flags over Netflix’s takeover of Warner Bros Discovery, warning that the global consolidation wave could disrupt the country’s theatrical ecosystem.

The Multiplex Association of India (MAI) has cautioned that the trend of streaming giants acquiring major studios poses a threat to the steady supply of films that Indian theatres rely on throughout the year.

The MAI said the latest merger, one of the biggest entertainment deals since Disney’s $71 billion purchase of 21st Century Fox, risks shrinking the pool of titles available for release.

Unlike Amazon’s $8.5 billion acquisition of MGM, which boosted the studio’s theatrical output, including three to four annual releases in India, Netflix has continued to take a selective approach to cinema releases.

Netflix’s $83 billion takeover of Warner Bros Discovery follows the carve-out of Discovery Global, and puts a major Hollywood content pipeline under a platform that does not prioritise long theatrical runs, MAI has argued.

Kamal Gianchandani, president of the MAI, told The Times of India that the Indian theatrical market thrives on “choice, scale and cultural diversity,” and that cinemas act as cultural and economic engines supporting millions of livelihoods across production, exhibition, distribution and ancillary sectors.

He warned that the merger may have “a meaningful reduction in high-quality content for cinemas” and could push Netflix towards shortened, or even nonexistent, theatrical windows. “This would impact revenues, limit consumer choice and weaken the broader film ecosystem,” he said, adding that such a large consolidation warrants close regulatory scrutiny in India and abroad.

Netflix, however, has said it intends to retain Warner Bros' existing operations and strengthen the studio’s theatrical capabilities.

Executives in India’s multiplex chains privately acknowledge that immediate disruption may be limited, given that the box office is dominated by Hindi and regional films. According to Ormax Media data cited by TOI, the 2025 India box office had already reached Rs 11,077 crore by October, 24% higher year-on-year, with Hollywood contributing around 10%.

Warner Bros Discovery’s share is in the low single digits, but Hollywood titles overall remain crucial to large chains such as PVR Inox and Cinepolis.

One senior multiplex executive told TOI that while the impact on India may be modest for now, the global implications are significant: “This merger will shake up global cinema in the years ahead. There is already strong opposition to the deal in the US.”