Netflix co-CEO Greg Peters isn't losing any sleep over media mergers. Speaking at the Bloomberg Screentime conference, Peters addressed rumors concerning a bid for companies like Warner Bros. Discovery, expressing deep skepticism about the track record for "big media mergers."
Will Netflix Bid for a Warner Bros. Discovery Merger? What the Co-CEO Thinks
Greg Peters, co-CEO of Netflix, downplayed the streaming platform's plans for developing this major acquisition. Speaking Wednesday evening at the Bloomberg Screentime conference in LA, Peters was asked if the rumors were true that Netflix was interested in bidding for Warner Bros. Discovery.
"I would say this: We come from a deep heritage of being builders rather than buyers," Peters said, "One should have a reasonable amount of skepticism around big media mergers — they don't have an amazing track record over time."
Peters continued, "Our job is to figure out, 'What is the best way to grow our business?' If a major acquisition is 'the best way to grow our business', great. If not, we should do something else."
When Peters was asked to address after news on Ellison, who largely funded the Skydance Media deal to acquire Paramount Global and is supposedly planning to bid on Warner Bros. Discovery as well, Peters laid out his thoughts.
"It's fun to have some new vigor in the competitive ecosystem. It's exciting, keeps everyone on their toes," but ultimately, Peters said, "It doesn't change the business fundamentals."
What Does Netflix Really Bid For, If Not a Merger? New Features Coming Soon
In the same conference, Peters noted that Netflix is constantly competing in bids for content rights. If Netflix is outbid, all Peters could say was, "Go with God and try to monetize the heck outta that."
He added that Netflix wants to invest in projects from creators, whether they come from YouTube, TikTok, or elsewhere, to help "find the biggest global audience for them."
Bidding aside, Peters announced that Netflix is expanding games on TVs with a new slate of "party games", which would allow smartphones to be used as controllers. Some of these games include Pictionary: Game Night, Boggle Party, Lego Party, and Party Crashers: Fool Your Friends.
For the first two quarters this year, Netflix reportedly topped Wall Street expectations on revenue and earnings as they increased their revenue forecast for full-year 2025 to a range from $44.8 billion to $45.2 billion, a significant 15-16% year-over-year growth, primarily because of the recent depreciation of the US dollar.
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