Time will tell whether Netflix buying Warner Bros. will turn out to be a good deal for movie fans, or for the many people who work in the film and television industries. But the proposed takeover definitely is a missed opportunity for theme park fans.
Warner Bros.’ catalogue includes some of the most attraction-friendly intellectual property in the entertainment industry. The Wizarding World of Harry Potter helped propel Universal’s theme parks to record financial success. DC Comics and Looney Tunes offer amazing potential for immersive theme park attractions that too few parks have been able to realize. The Lord of the Rings remains a coveted IP that fans have been wanting for years to see brought to life in the parks.
NBCUniversal owner Comcast was one of the unsuccessful parties bidding for control of Warner Bros.’ studio and assets. Given the success that Universal has had bringing Warner Bros.’ Harry Potter to life in the parks, fans should be frustrated at the loss of the opportunity to see what Universal Creative could have done with other WB properties.
Six Flags has owned the U.S. rights to use DC Comics and Looney Tunes in its theme parks ever since Six Flags was owned by Warner Bros., decades ago. But with Six Flags scrambling for money to cover its pandemic debt, it’s not hard to imagine that Warner Bros. could have bought back those rights under Comcast ownership, allowing Universal to develop its own Warner Bros.-themed attractions.
Such a deal remains a possibility with Netflix, or even Paramount Skydance, buying the studio. But there was extra value to be unlocked if Universal could have owned the rights to develop DC and Looney Tunes movies and television and online shows as well as theme park attractions. As a Looney Tunes fan, current WB management’s indifference — if not hostility — to Bugs Bunny and crew frustrates me. No other company does animated screwball comedy as well as Universal. Owning Looney Tunes could have helped make Universal the undisputed leader in animated comedy, to balance Disney’s leadership in animated musicals.
Universal owns the theme park license to many of Disney’s Marvel characters in Orlando, but that contract restricts Universal’s ability to create new attractions as well as Disney’s ability to promote the Marvel attractions that it can develop. If Universal switched to Warner’s DC, that could help push a deal for Disney to buy out Universal’s Marvel license, freeing both Disney and Universal to develop additional, innovative superhero-themed attractions across the country.
Maybe Netflix will do a better job bringing Warner Bros. franchises to life via themed attractions. The company has begun to open Netflix House attractions, in Philadelphia and Dallas, so there does seem to be some management interest in this segment of the entertainment industry. But Netflix has far to go to achieve the experience and success that Comcast enjoys in location-based entertainment.
Comcast buying Warner Bros. would have raised many of the same antitrust and competitive issues that might still block the Netflix deal. But bringing Universal and Warner Bros. together would have been a slam dunk for theme parks and their fans.