Ted Sarandos on a Netflix fiscal call
Netflix Co-CEO Ted Sarandos Tells Congress WBD Acquisition Is Good for Consumers, Economy
February 3, 2026
Netflix co-CEO Ted Sarandos Feb. 3 appeared before a U.S. Senate subcommittee hearing touting what he views as the positives surrounding the streamer’s $82.7 billion acquisition of Warner Bros. Discovery’s streaming and studio assets.
The hearing, which addressed the potential impact on competition in media and streaming, also featured testimony from Bruce Campbell, WBD’s chief strategy officer.
In his opening comments, Sarandos said the purchase of Warner Bros. Studios and HBO Max would strengthen the American entertainment industry, preserve choice and value for consumers, and create opportunities for creators.
The executive reiterated that Netflix over the years has created more than 155,000 American jobs, in addition to injecting $225 billion into the U.S. economy. Sarandos said Netflix would honor Warner’s current 45-day theatrical window for new-release movies.
“TV and film have never been more competitive than they are today, and this deal will not change that. Our goal is to win the moment of truth. That’s when Americans sit on their couch, pick up the remote control and decide what to watch. That’s where we compete today,” Sarandos said. “Consumers can easily choose between broadcast and cable, like CBS and so many other networks and streamers like Disney+, HBO Max, Peacock, Paramount+, Tubi. That also includes deep pocketed tech companies who are trying to run away with the television business like Google’s YouTube, Prime Video and Apple.”
Sarandos explained that YouTube represents growing competition, underscored by the social media video platform’s reigning No. 1 position on Nielsen’s monthly chart of top media distributors across household televisions.
“YouTube is not just cat videos anymore. YouTube is TV,” he said.
Sen. Cory Booker (D-N.J.) questioned whether Netflix’s acquisition of WBD would negatively impact the “tens of thousands” of Hollywood workers by the elimination of movies and TV show productions.
“We know Netflix’s power,” Booker said. “I have concerns about Netflix gaining more power over consumers [and leaving consumers with] fewer options.”
Sarandos said Warner Bros. is both a competitor to Netflix and a supplier of content to the streamer.
“Our history is about adding more [content and choices]” to consumers, he said.
Booker said he was disappointed that Paramount Skydance CEO David Ellison, whose company has submitted a rival $108.4 billion bid for the entire WBD, had declined an invitation to address lawmakers.
When asked by Utah Sen. Mike Lee, a Republican, how YouTube could be considered a competitor to Netflix, Sarandos explained how the Google-owned platform will soon live-stream the Academy Awards show, in addition to last year’s opening NFL game from Brazil.
The executive also pointed out that YouTube content creator Markiplier, the pseudonym of Mark Edward Fischbach, had ranked among the top three at the weekend’s box office.
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