How come the ridesharing industry has been dragged into this web of recent dealings between the world’s number one streaming platform Netflix, and entertainment studio Warner Bros., behind sensational works such as “The Dark Knight Rises,” “Suicide Squad,” “Magic Mike’s Last Dance,” “F1,” “Harry Potter,” and “Crazy Rich Asians”?
Heard of the circulating news about the soon acquisition of Warner by Netflix? Well, to give you a bit of a background, from the recent happenings in the real-world and online, Netflix has entered into a definitive agreement to acquire most of the assets of Warner Bros., specifically the Warner Bros. film and TV studios, as well as the HBO Max streaming service. The deal is expected to close this year.
The consensus, or the comments, are mixed, including this indie veteran from AGC Studios, its chairman, Stuard Ford, who stated and told The Hollywood Reporter that the fate of the entertainment industry would be when Netflix successfully acquires Warner Bros. is that of a domino effect, wherein film and TV professionals might lose their jobs just like how OpenAI’s ChatGPT is attempting to be a threat to human works.
In particular, Ford quipped that movie professionals might become “Uber drivers” for tech giants. That’s how the ridesharing industry was dragged into this entire carousel.
“If the culture becomes one of everybody’s an Uber driver, and we’re all just working for the big guy, we’re going to lose talent coming into this business, generationally – whether it’s film, television, micro dramas, or internet content creation,” AGC Studios’ Ford issued a warning.
AGC Studios is a renowned film and TV production, financing, and distribution studio that was started in 2018 by Ford himself. It is headquartered in Los Angeles, California, and in Great Britain’s capital city, focusing on creating diverse, multicultural content for international streaming platforms and traditional theatrical releases.
In other words, he doesn’t agree with the soon-acquisition, saying it won’t be best for business. Imagine a streaming platform running a well-established entertainment studio that brought you your most beloved films and TV shows.
“Probably no,” he told ridesharing media. Whoever thought of this ideal of a business deal must be a frustrated entrepreneur. Oops.
And, Ford isn’t saying that on a whim. He argued that the gap lies upon the differing business models of the two companies. For instance, which Netflix, they have been excluding producers and talent from meaningful backend participation tied to a movie’s financial performance. Definitely bad for business.
“We’re only just now starting to feel the effects in the industry of the flow of money having become interrupted, if not completely cut off, over the last 10 years as a result of streaming becoming such a major part of the distribution pipeline,” Ford further noted. “I’m not just talking about me as a financier, getting overages. We’re talking about the [talent getting participation.] We’re talking about residuals. We’re talking about the pitter-patter of money that would flow through the entire system and recycle.”
Yet, what’s wrong about being an Uber driver, right? Much to ponder, indeed. But, perhaps, there’s hope on this deal, considering Netflix brought you original works such as “K-Pop Demon Hunters,” “Squid Game,” “10Dance,” “Emily in Paris,” “Bon Appétit, Your Majesty,” “Bridgerton,” and so much more, it’s an idea that deserves attention and further study. For more ridesharing news, sign up for your account on Ridesharing Forum website.