UNBOXING: Play and Profit for the Gaming Curious Another Week, Another Megadeal
Dec 19, 2025
Netflix's ambitious $80 billion bid for Warner Bros is dissected, revealing its potential impact on gaming and streaming markets. The hosts analyze Warner's assets and their implications for Netflix's gaming strategies, including the significant sale of Spry Fox. They debate the commercialized nature of the Game Awards, highlighting indie triumphs over large studios. Key concerns about job security in the industry and the awards process's credibility also emerge, showcasing the evolving landscape of gaming culture.
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Streaming Over Games In Big Media Bids
- Netflix's $80B bid for Warner Bros. centers on streaming and IP, not games, so WB Games is treated as a rounding error.
- That signals platforms value distribution and catalog over owning AAA studios right now.
High Chance AAA Studios Get Spun Off
- Netflix likely will prioritize streaming assets and may sell off costly AAA game studios to pay down deal debt.
- Joost estimates a ~60% chance Netflix divests WB's big-console studios rather than operating them long-term.
Why Platforms Struggle With AAA
- Netflix's prior attempts at AAA and major studio ownership didn't yield success, weakening their appetite for big-budget console games.
- Platform owners often underperform at AAA because it's not their core business.