Sarandos: No Regrets on Warner Bros. Pursuit, Netflix Engagement Up 2%

Netflix co-CEO Ted Sarandos said he has no regrets about the streamer's pursuit of Warner Bros., speaking at Bloomberg's Screentime event. The remarks come after a federal judge approved a settlement with state attorneys general that cleared Paramount's acquisition of Warner Bros. Discovery, according to Deadline.

Sarandos pointed to Netflix's engagement numbers, noting the company grew engagement 2% on 200 billion hours of watching in its last announcement. He also said Netflix had double-digit revenue growth in every region of the world this past quarter.

On live events, Sarandos said Netflix spends about 5% of its content budget on live programming, which generates about 1% of its watching. The comments offer a rare look at how the streamer weighs its live-event investments against overall viewership.

The Warner Bros. pursuit ended in defeat for Netflix. In October 2025, Netflix won the bidding for Warner Bros. before Warner Bros. Discovery accepted a higher offer from Paramount for the whole company. In March, Sarandos and Casey Bloys had a well-publicized lunch days after Netflix lost Warner Bros. to Paramount.

Netflix has also shifted how it reports performance. Almost two years ago, the company stopped reporting subscriber growth and began publishing viewership reports twice a year, soon to be once a year. Meanwhile, overall deals have been active across the industry: over the past year, the Duffer Brothers signed a film and TV overall deal at Paramount, Shawn Levy inked an overall deal at Disney's 20th Television, and Noah Baumbach closed a first-look film deal at Warner Bros.