AGC Studios President Criticizes Potential Netflix Dominance Over Warner Bros
AGC Studios president Stuart Ford, one of the most influential and longtime financiers in the independent film sector, delivered harsh criticism on Friday about the potential dominance of Netflix over Warner Bros. During his appearance at the European Film Market in Berlin, when asked whether such an acquisition would be good for the film industry, Ford promptly replied that it likely would not be.
In his speech, the former Miramax executive and producer of films such as 'Hacksaw Ridge', 'Silence', and 'Moneyball' emphasized that a potential assurance would be for Netflix to commit to releasing Warner Bros. films in theaters appropriately and with suitable exhibition windows, which would avoid a major pitfall. However, Ford highlighted an even greater threat: Netflix's business model of excluding producers and talent from significant participation in the profits from films.
According to him, such a culture would turn industry professionals into mere 'Uber drivers' working for a larger entity, which could result in a loss of talent among new generations, whether in cinema, television, or even internet content creation. He warned that the industry is already beginning to feel the effects of this increasing domination by streaming services and the disruption of financial flow brought on by the last decade.
Ford underscores the importance of restoring the flow of income to ensure the health and survival of the sector in the long term, vehemently fighting to preserve a business culture in which money circulates through the system. Without this shift, there is a risk of an intellectual drain from the new generation in the sector.
His comments, made to a room full of international producers at the Winston Baker Film Finance Forum, co-sponsored by The Hollywood Reporter and part of the Berlin International Film Festival, were very well received and met with applause. Ford also made sure to temper his criticism towards Netflix's partners, stressing that despite the challenges, platform executives are true cinephiles and that the negotiations they are currently undertaking are crucial to keep the industry alive.
In conclusion, Ford emphasized the need for a broader philosophical realignment between the tech sector and the media industry, in order to continue attracting talents to the sector; a critical point that is often overlooked.