“We Didn’t Attribute Any Value”: Netflix’s Surprising Stance on Warner Bros. Games

Netflix admits it didn’t value WB Games in its $82.7B Warner Bros. deal | Image: Gaming Amigos

Last week, it was confirmed that Warner Bros. Games, which includes Avalanche Software, Rocksteady Studios, TT Games, and NetherRealm, will be part of Netflix’s massive $82.7 billion acquisition of Warner Bros. Discovery. That means franchises like Hogwarts Legacy, Mortal Kombat, and Batman could eventually sit inside Netflix’s portfolio.

Yet Netflix’s stance on gaming has left fans puzzled. Speaking on December 8, Netflix Co‑CEO Gregory Peters admitted that WB Games wasn’t “built” into the deal model.

“While they definitely have been doing some great work in the game space, we actually didn’t attribute any value to that from the get‑go because they’re relatively minor compared to the grand scheme of things,” Peters explained (via PocketGamer.biz).

“Now we’re super excited because some of those properties that they’ve built, Hogwarts is a great example of that, have done quite well, and we think that we can incorporate that into what we’re offering. They’ve got great studios and great folks working there. So we think that there’s definitely an opportunity there. But just to be clear, we haven’t built that into our deal model.”

This cautious optimism comes at a time when Warner Bros. Games has faced turbulence. Year 2024-25 was brutal for the division. Suicide Squad: Kill the Justice League reportedly cost the company $200 million in losses, while MultiVersus flopped to the tune of $100 million. Other projects, like Harry Potter: Quidditch Champions, failed to gain traction. Warner Bros. Discovery CEO David Zaslav even admitted during a financial call: “We recognise [the games business] is substantially underperforming its potential right now.”

The company has since restructured to focus on four core franchises: Mortal Kombat, Harry Potter, DC, and Game of Thrones. Still, closures of Monolith Productions, Player First Games, and Warner Bros. San Diego, alongside the cancellation of the Wonder Woman game, have left fans worried about the future.

Looking ahead, several projects remain in development. A Hogwarts Legacy sequel is reportedly underway, Rocksteady is said to be working on a single‑player Batman game, and TT Games has LEGO Batman: Legacy of the Dark Knight slated for 2026. NetherRealm’s next project remains unannounced, though speculation points to either another Mortal Kombat or a new Injustice entry. WB Games Montreal has pitched ideas ranging from a John Constantine title to a new Game of Thrones adaptation.

For now, fans of WB Games will have to wait until 2026, when the deal is expected to close, to see how Netflix truly handles its new studios.