Netflix has sent a personalized late-night letter to its approximately 300 million subscribers worldwide, reassuring them that despite Netflix’s blockbuster acquisition of Warner Bros.—including its film and TV studios, HBO Max, and HBO—their current subscriptions and content experience remain unchanged for now.
The letter highlighted how the merger unites iconic franchises like Harry Potter, Friends, Game of Thrones, and DC Universe movies with Netflix originals such as Stranger Things and Squid Game. Netflix affirmed that both streaming services will continue to operate separately until all approval steps are complete.
This massive communication move accompanies the $82.7 billion Warner Bros. acquisition, which is currently facing political and competitive challenges, including a surprise hostile takeover bid from Paramount. Netflix aims to solidify its position as the dominant streaming platform while carefully managing subscriber expectations during a major industry consolidation.
Netflix’s subscriber base has reached around 300 million users globally, spanning over 190 countries. The Warner Bros. acquisition deal is valued at $82.7 billion and includes studios, HBO Max, and HBO. Netflix sent personalized emails emphasizing: “Nothing is changing today” for subscribers despite the deal announcement.
The acquisition aims to merge Netflix content with iconic Warner Bros. franchises like Harry Potter, Friends, The Big Bang Theory, Casablanca, Game of Thrones, DC Universe with Netflix originals. HBO Max currently has about 128 million subscribers, making it the 4th biggest streamer in the U.S.
Market context: Netflix leads with 300M subscribers; Amazon Prime (220M) and Disney+ plus Hulu (196M) follow. Paramount+ (79M) and Apple TV+ (45M) are smaller competitors. Paramount launched a hostile takeover bid for Warner Bros. on December 8, 2025, valued at $108.4 billion, including Discovery+.
Netflix plans no immediate price changes and will operate HBO Max and Netflix apps separately during the transition. The streaming industry is consolidating into a “Big Three”: Netflix, Amazon, Disney, reinforced by the Warner Bros. deal.
The deal reflects ongoing industry trends to offer bundled services at competitive prices versus multiple individual subscriptions. Disputes and competing bids indicate high industry stakes, reflecting Warner Bros.’ strategic value in content and subscriber scale.
The acquisition bolsters Netflix’s competitive edge, likely solidifying a “Big Three” oligopoly (Netflix, Amazon, Disney) in streaming. Subscribers currently see no price or content changes but may gain access to a larger combined content catalog over time.
The streaming industry consolidation may encourage further mergers or aggressive bids as companies vie for content ownership. Regulatory scrutiny and political implications accompany mega-mergers, highlighting concerns over competition and market influence.
Paramount’s higher bid could prolong negotiations or trigger bidding wars, impacting stock prices and media landscape shifts. Netflix’s letter to subscribers is a novel transparency tactic to manage user expectations during large corporate shifts.
