Company: WBD
Filing Date: 2025-12-09
Form Type: 425
Source: 0001193125-25-311838
Chunk: 14

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-09
Form: 425
Chunk 14
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 akin to the advances in VFX and all those kind of things that have happened. Movie making is filled with technology. You’ll probably see Avatar over Christmas, that’s doing things that people couldn’t have even dreamt about a couple of years ago and incorporating new technology into the creative storytelling process that we are enormously supportive of. And I don’t think it works as just as a cost-cutting tool. I think you’ll alienate audiences, and it will be bad for everybody. John Christopher Hodulik UBS Investment Bank, Research Division Is AI, in your view, make short-form platforms more powerful and create more competition for Netflix in terms of engagement? Theodore A. Sarandos Co-CEO,President & Director Look, there’s a case to be made that’s the opposite, and it’s that more and more content that’s coming out that people are less and less attached to and more — less passionate about it. The content creation starts with a great story. Starts with great writing, all those kind of things that happen. That have to happen before audiences connect. We have a lot of things that you put in all those efforts and people just go to the next one. And that’s failure. But I would say what’s happening now is that’s built for people to go to the next one. And so I don’t know that necessarily that strengthens them for the long haul. It’s interesting. It’s fun. It probably adds to a level of freshness to it. But I don’t know that it improves in my earlier point, better, faster and cheaper. Gregory K. Peters Co-CEO,President & Director Ultimately, we believe that telling stories incredibly well consistently is a very scarce commodity out there. And we believe we’ve got the business model, the best business model for those creators. And so ultimately, we feel like they’ll find their home at Netflix. Theodore A. Sarandos Co-CEO,President & Director You’d have to fundamentally believe that there are — all of us have a great story in us. I don’t think we do. Sorry. Gregory K. Peters Co-CEO,President & Director There’s some evidence to support that. Theodore A. Sarandos Co-CEO,President & Director There’s a real skill there in being able to be a great writer and a great storyteller and... John Christopher Hodulik UBS Investment Bank, Research Division Do you think you guys think AI enhances the value of IP and the library, I mean over time, does