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Netflix Co-CEO Sees Media Industry 'Shakeout' Amid Warner Split

Industry Trends - The industry is undergoing a transition towards streaming and on-demand services, driven by consumer demand [1] - This shift is expected to lead to a period of shakeout and transition for legacy players [2] - Mergers between legacy players are seen as a logical outcome of the industry's evolution [3] Company Strategy - The company considers itself fortunate to have entered the new ecosystem with a new model, avoiding the complexities of transitioning from legacy business models [2] - While exploring all opportunities, the company is unlikely to be a buyer in potential mergers and acquisitions [5] - The company prioritizes a disciplined approach to due diligence and focuses on building rather than buying [6] Risks and Challenges - Large media mergers have a mixed track record, with both successful and unsuccessful examples [4] - Regulatory complexities can pose challenges to potential mergers [3]