The Netflix co-CEO says major studio deals rarely work and reveals new plans to grow through gaming and creative partnerships.
Netflix’s co-CEO Greg Peters made it clear this week that the streaming giant isn’t rushing to buy any major media companies — including Warner Bros. Discovery.
Speaking at the Bloomberg Screentime conference, Peters shared that while Netflix is open to exploring all options, big acquisitions aren’t exactly part of its DNA.
“We come from a deep heritage of being builders rather than buyers,” Peters said. He also noted that “big media mergers don’t have an amazing track record,” pointing out that many such deals have struggled to deliver the expected results.
In simpler terms, Netflix believes in growing by creating rather than acquiring. Peters explained that the company’s focus is on carefully deciding where to invest its time, money, and energy — and only pursuing deals that truly help the business grow. “If that’s the best way to do it, great. If it’s not, we should do something else,” he said.
Instead of chasing large studio takeovers, Netflix is doubling down on something different: interactive entertainment. Peters revealed that Netflix will soon roll out several family-friendly party games playable directly on TV sets. Titles include LEGO Party!, Pictionary: Game Night, Boggle Party, and Tetris Time Warp.
This move signals Netflix’s desire to make the living room more interactive and fun — and not just a place for binge-watching shows.
However, Peters also admitted that Netflix’s viewer engagement has been “flat” recently, even though platforms like YouTube continue to grow steadily. “I’m not happy with the fact that we’re not growing engagement,” he said, adding that the company wants people to spend more time on Netflix without trying to imitate others.
“I think the dumbest move would be to try and match YouTube in every way,” Peters explained. Instead, Netflix wants to stay in its own lane by helping professional creators tell deep, meaningful stories — the kind that can’t easily be done on short-form video apps like YouTube or TikTok.
As a writer and industry observer, I believe Netflix’s approach makes sense. Acquiring massive studios can create more problems than profits. By investing in gaming and creator partnerships, Netflix is positioning itself for steady, organic growth.
In a media world obsessed with quick mergers and flashy deals, Netflix’s decision to grow slowly — but smartly — could be its biggest strength yet.
