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Netflix co-CEO Ted Sarandos has pushed back against concerns around potential price hikes linked to the company’s proposed $72 billion acquisition of Warner Bros. Discovery’s streaming assets, arguing that consumers retain full control through what he described as a “one-click cancel” option.
Appearing before the US Senate Judiciary Subcommittee on Antitrust, Sarandos addressed lawmakers’ apprehensions about reduced competition and rising subscription costs should the deal go through. Senator Amy Klobuchar raised concerns that Netflix has a track record of increasing prices and warned that acquiring HBO Max’s content could remove competitive pressure in the streaming market.
Responding to the criticism, Sarandos said Netflix’s pricing decisions have historically been tied to increased content investment and improved value for subscribers. He noted that despite price increases, Netflix has continued to grow its subscriber base.
“Whenever we come back and ask for a little more money, it’s because we’ve given them a lot more value,” Sarandos told the panel, adding that Netflix subscribers currently pay an average of around 35 cents per hour of content consumed.
Sarandos also stressed that Netflix does not rely on lock-in mechanisms to retain users. “We are a one-click cancel. If at any point the consumer says, ‘That’s too much for what I’m getting,’ they can just with one click of the button cancel Netflix,” he said, positioning ease of exit as a key consumer safeguard.
In addition to addressing pricing concerns, Sarandos argued that the acquisition would enable Netflix to expand its production footprint in the US, potentially creating more domestic jobs.
The proposed all-cash deal would bring Warner Bros. Discovery’s streaming assets, including HBO Max and popular franchises such as Harry Potter and The Big Bang Theory, under Netflix’s portfolio. The transaction, however, excludes Warner Bros. Discovery’s linear cable networks.
