Bigger can be better for Netflix and Warner Bros. | Ev Ehrlich

kAm%96 4@?E6DE 36EH66? }6E7=:I 2?5 !2C2>@F?E 7@C (2C?6C qC@D] 92D DE@CJ=:?6D 2?5 A6CD@?2=:E:6D E92E H@F=5 >2<6 8@DD:A >@?86CD 7C@> {@F6==2 !2CD@?D E@ |2C:2 |6?@F?@D 82A6ik^Am

kF=mk=:mvF=7 $E2E6 A=FE@4C2ED AC@G:5:?8 7:?2?4:?8 k2 9C67lQ9EEADi^^HHH]=2E:>6D]4@>^6?E6CE2:?>6?E\2CED^3FD:?6DD^DE@CJ^a_ad\`a\`_^A2C2>@F?E\H2C?6C\3C@D\3:5\C2:D6D\?2E:@?2=\D64FC:EJ\4@?46C?D\56>@4C2ED\D2JQ E2C86ElQ03=2?<QmH:E9@FEk^2m 3@2C5 D62ED @C 2?J @E96C 8@G6C?2?46 C:89ED[ 244@C5:?8 E@ %96 {@D p?86=6D %:>6D]k^=:mk=:m!C6D:56?E:2= D@?\:?\=2H y2C65 zFD9?6C 492>A:@?:?8 !2C2>@F?E’D 677@CED[ E96? k2 9C67lQ9EEADi^^HHH]?34?6HD]4@>^3FD:?6DD^>65:2^<FD9?6C\277:?:EJ\H2C?6C\3C@D\A2C2>@F?E\C4?2achdgbQ E2C86ElQ03=2?<QmH2=<:?8 2H2Jk^2m[ 244@C5:?8 E@ }qr]k^=:mk=:m{2CCJ t==:D@?[ E96 3:==:@?2:C6 4@7@F?56C @7 kDA2?m~C24=6[k^DA2?m AFD9:?8 E@ A6CD@?2==J 8F2C2?E66 k2 9C67lQ9EEADi^^HHH]?JE:>6D]4@>^a_ad^`a^ac^3FD:?6DD^>65:2^=2CCJ\52G:5\6==:D@?\H2C?6C\3C@D\5:D4@G6CJ\43D]9E>=Q E2C86ElQ03=2?<QmSc_ 3:==:@?k^2m E@ 324<DE@A 9:D D@? 2?5 ?6A@\7:?2?4:6C s2G:5 t==:D@?[ 244@C5:?8 E@ %96 }6H *@C< %:>6D]k^=:mk=:m!C6D:56?E s@?2=5 %CF>A :?D:DE:?8 96 H:== 92G6 2 8C62E 562= E@ D2J 23@FE 9@H E96 5:46 H:== 4@>6 FA] k^=:mk^F=m

kAm%92EVD A=6?EJ 7@C E96 CF>@C >:== E@ 5:86DE]k^Am

kAm*6E 2== E92E A2=6D 4@>A2C65 E@ H92E E96 EH@ 3:5D D2J 23@FE E96 7FEFC6 @7 p>6C:42? 6?E6CE2:?>6?E]k^Am

kA 4=2DDlQE?4>D\:?=:?6\=:?<Qmk2 9C67lQ9EEADi^^?6HD]=66]?6E^E?4>D^2DD6E^65:E@C:2=^fhc4dg`a\55af\c73d\2hcc\2`e6_h_e77baQmt?E6CE2:?>6?E :?5FDECJ 5@6D?VE ?665 >@C6 4@?D@=:52E:@? M $E6G6 r923@Ek^2mk^Am

kAm!2C2>@F?E D2JD :E H2?ED E@ D2G6 p>6C:42? >@G:6\>2<:?8] }6E7=:I[ :E 2C8F6D[ H@F=5 D42=6 324< AC@5F4E:@? 2?5 8FE E96 4F=EFC2= C:EF2= @7 E962EC:42= C6=62D6] %92E 567:6D 4@>>@? D6?D6]  k^Am

kAm}6E7=:I H2?ED (2C?6C 3642FD6 :E 3C:?8D ?6H AC@8C2>>:?8 7@C :ED 4FEE:?8\6586 5:DEC:3FE:@? ?6EH@C<] (@F=5 :E C62==J 4FE 324< @? E96 >@DE :>A@CE2?E E9:?8 :E’D 3FJ:?8n p?5 }6E7=:I’D E@A 6I64D C625:=J 24<?@H=6586 E92E E962EC:42= C6=62D6D 3F:=5 :?E6C6DE E92E 3@@DE E96:C A6C7@C>2?46 @? DEC62>:?8[ =62G:?8 G:6H6CD E@ 4@F?E E96 52JD F?E:= 2 ?6H “z?:G6D ~FEP” C62496D E96:C E23=6ED]  k^Am

kAm(2C?6C 92D DFA6C\AC6>:F> AC@5F4ED DF49 2D y2>6D q@?5[ w2CCJ !@EE6C 2?5 v2?52=7 E96 (:K2C5 :? E96 >:I] $@ :E’D ?@ DFCAC:D6 E96 4@>A2?J 92D A=65865 E@ DE:4< H:E9 (2C?6C’D E962E6CD\7:CDE 2AAC@249]k^Am

kAm!2C2>@F?E’D 3:5 8F2C2?E66D AC@5F4E:@? 4FED] p4BF:C:?8 (2C?6C qC@D] H@F=5 D255=6 E96 4@>A2?J H:E9 EH@ 9:DE@C:4 {]p] AC@5F4E:@? =@ED E@ 36 4@>3:?65[ 2=>@DE 46CE2:?=J 3J D9FEE6C:?8 @?6 E@ 86?6C2E6 E96 k2 9C67lQ9EEADi^^HHH]>65:2A=2J?6HD]4@>^A2C2>@F?E\AC@>:D6D\e\3:==:@?\5@==2CD\:?\4@DE\D2G:?8D\24BF:C:?8\H2C?6C\3C@D\5:D4@G6CJ^Q E2C86ElQ03=2?<QmSe 3:==:@?k^2m :? D2G:?8D !2C2>@F?E AC@>:D6D 7C@> E96 562=] k^Am

kAm!C@5F4E:@? 2=D@ =:<6=J H@F=5 72== G:4E:> E@ !2C2>@F?E’D >2DD:G6 A@DE\562= 563E[ H9:49 :E AC@;64ED E@ 36 >2?J E:>6D :ED 2??F2= 62C?:?8D 367@C6 :?E6C6DE[ E2I6D[ 56AC64:2E:@? 2?5 2>@CE:K2E:@?[ 2 =6G6= FDF2==J 2DD@4:2E65 H:E9 “;F?<” 7:?2?4:?8] }6E7=:I’D 563ED[ :? 4@?EC2DE[ H@F=5 36 72C =6DD E92? !2C2>@F?E’D H96? 4@>A2C65 E@ 62C?:?8D 3J a_af]k^Am

kAms@6D !2C2>@F?E 92G6 E96 4C62E:G6 49@AD E@ <66A (2C?6C qC@D] 2 4@?E6?E A@H6C9@FD6n (2C?6C qC@D] 92D 925 E9C66 3:==:@?\5@==2C C6=62D6D D:?46 a_`f —  “pBF2>2?[” “y@<6C” 2?5 “q2C3:6[” 2?5 2 ?62C\>:DD :? “p |:?64C27E |@G:6]Q !2C2>@F?E 925 ;FDE @?6 — “%@A vF?i |2G6C:4<[” E96 7:?2= 7CF:E @7 2? x! DEC62> :ED 4C62E@C H:== ?@ =@?86C DFDE2:?]  k^Am

kAm$:?46 a_`f[ (2C?6C 92D H@? `h ~D42CD 2?5 }6E7=:I 92D ae[ H9:=6 !2C2>@F?E 92D @?6] $@ H92E DFA6C:@C 4C62E:G6 :?D:89ED H@F=5 !2C2>@F?E 3C:?8 E@ (2C?6C H96? 4@>A2C65 E@ }6E7=:Ink^Am

kAmq6J@?5 E96D6 >62DFC6>6?ED[ !2C2>@F?E H2?ED E@ 24BF:C6 (2C?6C qC@D] D@ :E 42? 36 E@52J’D }6E7=:I] qFE }6E7=:I H2?ED E@ 24BF:C6 (2C?6C qC@D] D@ :E 42? 4C62E6 D@>6E9:?8 36J@?5 E@52J’D }6E7=:I] u@C >@G:6 72?D[ 4C62E:G6 :?5FDECJ H@C<6CD 2?5 A@=:4J>2<6CD[ H92E’D 2 >@C6 :?EC:8F:?8 562=n !2C2>@F?E’D AC:G2E6 6BF:EJ BF6DE 7@C 677:4:6?4:6D 2?5 D42=6n ~C }6E7=:I’D 6?EC6AC6?6FC:2= >:DD:@? E@ 7:?5 ?6H H2JD E@ E6== 9:DE@C:4 DE@C:6D 24C@DD >F=E:A=6 D4C66?D[ A=2E7@C>D 2?5 >2C<6EDnk^Am

kAm!2C2>@F?E’D 677@CE E@ H:? E9C@F89 D42=6 :8?@C6D E96 4@>>2?5:?8 AC6D6?46 @7 6?E6CE2:?>6?E :?5FDECJ 3696>@E9D DF49 2D *@F%F36[ s:D?6J 2?5 6G6? :ED A@E6?E:2= D:3=:?8[ %:<%@<] *@F%F36 5@>:?2E6D 8=@32= “G:6H:?8 D92C6[” 42AEFC:?8 2=>@DE `bT @7 2F5:6?46 2EE6?E:@?[ 72C @FEDEC:AA:?8 }6E7=:I 2E gT] }6E7=:I 42? E2<6 AC:56 :? :ED DE625J 8C@HE9 E@ b__ >:==:@? DF3D4C:AE:@?D] qFE E92E’D 2 D?66K6 E@ *@F%F36[ H:E9 ?62C=J b 3:==:@? 24E:G6 FD6CD]k^Am

kAmkDA2? 4=2DDlQAC:?E0EC:>Qmp?5 E92E’D ;FDE E96 E:A @7 E96 :4636C8 @7 2 72DE\492?8:?8 8=@32= 6?E6CE2:?>6?E :?5FDECJ] %:<%@< 2?5 #66=D 2C6 =625:?8 :?5:42E@CD @7 E9:D 8=@32= C6G@=FE:@?] r9:?6D6 4C62E@CD 2C6 EFC?:?8 @FE AC@8C2>D H:E9 h_ 6A:D@56D[ 6249 a >:?FE6D =@?8] k^DA2?mk^Am

kAmkDA2? 4=2DDlQAC:?E0EC:>Qmp44@C5:?8 E@ 2 |@E=6J u@@= A@==[ 4@?DF>6CD ?@H E9:?< E96C6 2C6 E@@ >2?J G:56@ 49@:46D[ ?@E E@@ 76H] k^DA2?mpCE:7:4:2= :?E6==:86?46 H:== EFC? 4@?E6?E 4C62E:@? :?E@ 2 DA:C2=:?8 7C66\7@C\2==[ 3=6?5:?8 :>28:?2E:@? 2?5 :?86?F:EJ W?6G6C >:?5 E96 C2>A2?E A:C24JX] kDA2? 4=2DDlQAC:?E0EC:>Qm{2DE >@?E9[ s:D?6J C624965 2 562= H:E9 ~A6? px’D $@C2 2AA[ =6EE:?8 FD6CD >2<6 D@4:2= G:56@D — E92E :D[ 4@?E6?E WH:E9:? 46CE2:? =:>:EDX — @FE @7 s:D?6J AC@A6CE:6D 7C@> |:4<6J E@ Q$E2C (2CDQ E@ QuC@K6?Q E@ |2CG6= E@ !:I2C]  k^DA2?mk^Am

kAm}6E7=:IkDA2? 4=2DDlQAC:?E0EC:>Qm[k^DA2?m kDA2? 4=2DDlQAC:?E0EC:>Qm2C>65 H:E9 (2C?6C’D =:3C2CJ[ 42? ?@E @?=J EFC? w2CCJ !@EE6C @C y2>6D q@?5 :?E@ ?6H E6=6G:D:@? D6C:6D[ 3FE H:E9 :ED 8C@F?5:?8 :? E649 2?5 :??@G2E:@?[k^DA2?m D66>D A@:D65 E@ =2F?49 kDA2? 4=2DDlQAC:?E0EC:>QmE96>k^DA2?m :?E@ H92E6G6C ?6H 7@C>D @7 FD6C\5C:G6? 6?E6CE2:?>6?E 6>6C86 7C@> E96 D4CF>] kDA2? 4=2DDlQAC:?E0EC:>Qm(2C?6C 8:G6D !2C2>@F?E 2 =2DE\5:E49 DE2?5 E@ DFCG:G6 :? E@52J’D 6?E6CE2:?>6?E :?5FDECJ[ 3FE :E H@F=5 36 E96 C@4<6E 7F6= E92E 96=AD AC@A6= }6E7=:I :?E@ E96 8=@32=:K65[ 2E@>:DE:4 :?5FDECJ @7 E96 7FEFC6]k^DA2?mk^Am

kAm}6E7=:I @776CD DFAA@CE 7@C E96 7:=> :?5FDECJ 2?5 :ED H@C<6CD[ 2 ?6H 7FEFC6 7@C (2C?6C qC@D][ 2?5 2 4@>A6E:E:G6 492>A:@? :? E96 DEC62>:?8 H2CD] %92E’D 2 A2E9 7@CH2C5 E92E 4@?DF>6CD[ H@C<6CD[ :?G6DE@CD 2?5 C68F=2E@CD D9@F=5 36 C625J E@ DFAA@CE]k^Am