Netflix, Warner Bros. Discovery Seal Streaming Content Deal - NFLX, WBD

Netflix and Warner Bros. Discovery announced a licensing agreement on January 21, 2026, granting Netflix multi-year rights to stream select Warner Bros. theatrical films and library content in the U.S. The deal includes titles from Warner Bros.’ film portfolio, such as DC Studios productions and catalog movies, starting in 2026. Financial terms were not disclosed. The agreement strengthens Netflix’s position in the competitive streaming market amid declining exclusive original output from Warner Bros. for its own HBO Max platform. This partnership marks a strategic shift toward content-sharing among major media companies as subscriber growth slows and cost pressures mount across the streaming industry.