One of the biggest deals in the history of the entertainment industry is about to go down. And yet, the details of exactly how that will happen are anything but clear. While it seems all but certain that Netflix will be acquiring Warner Bros. in the coming months, there is at least the chance that things may not go that way, as Paramount is looking to play spoiler.
Up to this point, everybody is concerned about Warner Bros. studio and the future of streaming. What will happen to theatrical distribution? Will Netflix and HBO Max merge into one platform? These are good questions, worth asking, but let me ask another. What about theme parks?
The Fate Of Warner Bros. Is A Bit Unclear Right Now
Warner Bros. put itself on the auction block earlier this year, leading to it being all but certain that the storied film studio would become the property of another. Paramount seemed like the most likely option, considering the other recently purchased studio was anything but shy about its intent, and yet, when the dust cleared, it was Netflix that apparently had the best offer.
And yet, Paramount has recently launched an attempt at a hostile takeover by offering far more money per share to stockholders than the Netflix deal will provide. While Netflix CEO Ted Sarandos seems unworried, the future is far from clear.
Netflix Taking Over Warner Bros. Will Likely Super Charge The Studio’s Themed Entertainment Plans
As somebody who covers the theme park industry, I always consider how any major change in the entertainment landscape may impact the industry of themed entertainment, and to be blunt, Netflix taking over Warner Bros. has the potential to cause a major shake-up in the industry, even though WB’s theme park presence is minimal.
Netflix is a company that understands the value of themed entertainment. While the world doesn’t have a Netflix theme park (yet), by the time you read this, the company will have opened its second Netflix House complex in as many months, with a third location already planned for Las Vegas.
These are small locations, with a couple of themed spaces based on popular Netflix IPs like Wednesday and Squid Game, and a Netflix Bites restaurant. It makes sense that Netflix would want to start small. There's no reason to invest the time and money into larger themed experiences off the bat.
But if Netflix does indeed buy Warner Bros., then Netflix is going to jump from a smaller player in themed entertainment to a major one, essentially overnight. This is because they will take ownership of one of the biggest theme park IPs in the world, Harry Potter.
Harry Potter has been a key part of Universal’s theme park success over the last several years, with all three of Universal Orlando Resort’s three parks having a Wizarding World of Harry Potter land.
This would be a massive shift for Netflix, which would likely simply increase the speed with which it grows in the themed entertainment space. Whether they build more of their own locations, with a lot more IP available, or work with existing theme park companies, like Universal, or even Disney, we could see Netflix become a major player in this very quickly.
Could A New Warner Bros. License DC To Universal?
Of course, Warner Bros. has another major IP that most would agree has been underutilized in the theme park space, DC Comics. While DC has been working with Six Flags for years, all this has amounted to is using DC Comic characters in the names of attractions like roller coasters. We’ve seen no real DC-focused themed entertainment. A recent report indicated that Warner Bros. has been talking to Universal about just such an endeavor, which on its own would be quite a big shift
The most intriguing element of such a deal is that Universal already has a deal with Marvel, from the pre-Disney days that brought its cast of characters to Universal Islands of Adventure years ago. As such, Disney itself has been limited in what it can do with theme park attractions in Florida. It would be quite the coup if Universal ended up with Marvel and DC attractions in the same resort.
Of course, there’s reason to believe Disney wouldn’t want that sort of competition, and even Universal might not be looking to overdo the comic book characters in its parks. This opens the door to Universal possibly trading Marvel for DC. As such, a licensing deal between Universal and Warner Bros at least has the potential to be a huge boon for Disney, giving them back the rights to make Marvel attractions at Walt Disney World.
Paramount Looks To Be Planning New Endeavors In Themed Entertainment
And of course, there’s still the dark horse in all this. At this point, it’s far from clear just what sort of chance Paramount might have at making its hostile takeover work. Netflix says it’s not worried, but if by some miracle it did happen, this would massively impact the theme park industry in entirely different ways.
Paramount had its own theme park division in the ‘90s that included King’s Island and Great America in California, but it got out of the business in 2007 when it sold its parks to Cedar Fair. However, Paramount is now looking to take another shot at the themed entertainment business. Paramount Global is behind the design of Star City, a new resort area in South Korea that will include the Hwaseong International Theme Park, which will use Paramount IP for attractions. It’s expected to open in 2030.
A Top Gun-themed standalone attraction is also currently in development with plans to open in Las Vegas in 2028. There are also plans to open additional locations, including potentially in the heart of theme park world, Orlando, FL.
The combination of Paramount and Warner Bros. on the experiences side would, just like Netflix, likely accelerate Paramount’s growth in the industry significantly. Paramount has some franchises that would have to be appealing for any theme park looking to add lands or attractions, including Mission: Impossible, the Sonic the Hedgehog movies, and, arguably, the biggest franchise in the world currently without a major theme park presence, Star Trek. Giving Paramount access to Universal through the Harry Potter license could open the door to these other franchises more easily finding a theme park home.
Themed Entertainment Is Becoming A Key Asset for Media Companies
However the Warner Bros. situation finally shakes out, the themed entertainment business should not be overlooked. There’s a reason that Disney and Universal invest so much of their respective companies into theme parks are other experiential offerings, like Disney’s Cruise Line.
These things basically print money, and that’s going to be the case for whoever ends up taking over Warner Bros. Experiences Division. It isn’t just the film franchises that matter. It’s what can be done with them.
