HBO has been increasingly getting into the blockbuster business with series such as Dune: Prophecy and It: Welcome To Derry and upcoming titles including Lanterns and Harry Potter.
But Netflix wants the brand to focus on “prestige TV” with co-CEO saying it will no longer have to do “gymnastics to make themselves into a general entertainment brand”.
Speaking at the UBS Global Media and Communications Conference, Sarandos said, “This is a prestige television brand that people really love. I would say that they have been doing gymnastics to make themselves into a general entertainment brand and I think under this transaction, they don’t have to do that anymore. We’re already a very well established general entertainment brand, and we want HBO to double down on the things that people have loved for 50 years about HBO.”
He added that these “assets work better in our business model and our business model works better with these assets”.
Co-CEO Greg Peters, also speaking at the event, said, “HBO is an incredible brand with an incredible history. It speaks prestige TV. We want to double down on that concept.”
The pair’s comments suggest that once a deal closes, HBO will focus on projects like True Detective, The White Lotus, Game of Thrones spinoffs such as House of the Dragon and A Knight of the Seven Kingdoms, as well as comedies such as The Rehearsal, The Chair Company and I Love LA, while Netflix will be the home for the DC Studios titles and series based on broad IP.
The streamer, which will be fighting off a rival hostile bid from Paramount for ownership of Warner Bros. Discovery’s studio and streaming assets, has said that HBO Max will remain once a deal closes, but has not disclosed exactly how that would function.