In a recent high-profile Senate Judiciary Subcommittee hearing examining the proposed acquisition of Warner Bros. assets by Netflix, co-CEO Ted Sarandos made a striking comment about theatrical release strategies that has sent ripples through Hollywood. While defending Netflix’s commitment to industry standards amid scrutiny over the multibillion-dollar deal, Sarandos addressed questions on how long films typically remain exclusive to theaters before shifting to streaming or video-on-demand platforms.
The discussion centered on the widely observed 45-day theatrical window—a self-regulated benchmark many studios follow to balance cinema revenue with home viewing options. When pressed by lawmakers on whether Netflix would uphold a fully exclusive 45-day period for major releases post-merger, Sarandos affirmed the company’s intent to honor that standard. He described it as an “industry convention” rather than a rigid rule, noting that adjustments often occur based on real-world performance.
“However, routinely movies that underperform, the window moves a little bit… and Superman was a little shorter window,” Sarandos stated during the exchange. He contrasted this with another recent title that received a slightly extended run, emphasizing that studios still commonly refer to such arrangements as adhering to the 45-day guideline overall.
The reference to Superman—the 2025 James Gunn-directed reboot that kicked off the revamped DC Universe—drew immediate attention. The film, which hit theaters in mid-July 2025, transitioned to digital and video-on-demand availability remarkably quickly, arriving on those platforms just 35 days after its wide release. This abbreviated timeline deviated from the norm seen with many comparable blockbusters, prompting speculation about its box office trajectory even before Sarandos’ testimony.
Industry observers had already noted the accelerated move to home viewing. Initial projections for the movie, carrying a reported production budget exceeding $350 million (not including marketing), anticipated a stronger global haul to justify its position as a flagship launch for the new DC slate. Instead, it concluded its theatrical run with approximately $617 million worldwide, placing it among the year’s top earners but falling short of the loftier expectations tied to a high-profile superhero relaunch.
The early pivot to VOD appeared designed to capitalize on home audiences and recoup costs more swiftly, a common tactic when momentum stalls in cinemas. Domestic earnings reached around $354 million, with international markets adding roughly $263 million—solid figures in isolation, yet tempered by steep week-to-week drops and mixed overseas reception. By late August, daily grosses had dipped significantly, underscoring the challenges of sustaining long-term theatrical interest in a crowded summer marketplace.
Sarandos’ offhand mention during the hearing, tied to broader antitrust and consumer impact discussions surrounding the Netflix-Warner Bros. transaction, inadvertently spotlighted these dynamics. Lawmakers from both sides of the aisle probed the executive on competition, job preservation, pricing for viewers, and the future of theatrical exhibition in an increasingly streaming-dominated landscape. The merger itself, valued in the tens of billions, has raised concerns about consolidation in entertainment, with critics arguing it could limit options for filmmakers and audiences alike.
Supporters of the deal, including Sarandos, have countered that combining forces would enhance content variety, bolster investment in production, and provide consumers with more accessible high-quality entertainment at competitive prices. He reiterated Netflix’s pledge to maintain a 45-day theatrical commitment for Warner Bros. titles moving forward, framing it as beneficial for cinemas, studios, and fans who value the big-screen experience.
The Superman example, however, served as an unplanned illustration of flexibility in practice. It highlighted how studios adapt release calendars to performance data, a reality long acknowledged behind closed doors but rarely articulated so directly in a public forum. For the film’s creative team and studio executives, the comment reinforced narratives already circulating in trade reports and online discussions: despite positive critical reception in some quarters and its status as a key tentpole, the movie did not achieve the breakout dominance many anticipated.
This moment also underscores ongoing tensions in the post-pandemic film industry, where theatrical exclusivity windows have become a flashpoint. Streaming platforms and traditional studios continue to negotiate the balance between exclusive cinema runs—which support exhibitors—and quicker access to home viewing, which drives subscriber growth and ancillary revenue. The 45-day benchmark emerged as a compromise in recent years, but exceptions persist, particularly for titles facing softer ticket sales.
As the Senate hearing wrapped, focus shifted back to the merger’s regulatory path, with the Department of Justice and other bodies expected to weigh in on competitive implications. Yet Sarandos’ casual reference to the shortened window for Superman lingers as a candid snapshot of how market realities influence strategic decisions at the highest levels. It serves as a reminder that even major franchises must navigate audience turnout, global appeal, and economic pressures in real time.
For moviegoers and industry watchers alike, the episode raises questions about future DC releases and how evolving distribution models will shape the next wave of superhero epics. Whether the merger proceeds or not, the testimony has added another layer to the complex story of how blockbuster films reach audiences today—and how swiftly that journey can change when expectations meet box office results.
