Warner Bros. Wins Margot Robbie’s ‘Wuthering Heights’ Over Netflix, Signaling Shift in Hollywood’s Deal Preferences

In a surprising industry shake-up, Warner Bros. has secured the rights to produce the highly anticipated adaptation of Wuthering Heights, directed by Emerald Fennell and starring Margot Robbie and Jacob Elordi, surpassing a substantial $150 million offer from Netflix. This acquisition marks a significant shift in Hollywood, where traditional theatrical releases are gaining renewed appeal over exclusive streaming deals.

Despite Netflix’s aggressive bid, Warner Bros. secured the project for $80 million, primarily by committing to a wide theatrical release—a draw for many filmmakers who see value in the cinematic experience. This pivot highlights a notable industry trend as studios like Warner Bros. and Amazon signal a growing interest in traditional release formats.

The news came as a shock to Netflix, which has previously dominated high-stakes deals with exclusive streaming releases. Industry insiders report that Amazon also expressed interest in the project, reinforcing the resurgence of theatrical distribution as a top choice for major films. Warner Bros. plans to begin production on Wuthering Heights in early 2025, a schedule that poses logistical challenges for Elordi, who is simultaneously preparing to film Euphoria Season 3 for HBO.

Netflix’s streaming-first model has raised questions among filmmakers about the platform’s commitment to theatrical exposure. Greta Gerwig, who inked a deal with Netflix in 2020 for a Chronicles of Narnia adaptation, is reportedly considering an Imax release for her project following the massive box office success of Barbie. Gerwig’s team is currently exploring timing adjustments that would satisfy theater chains hesitant about early streaming availability on Netflix.

Ted Sarandos, Netflix’s co-CEO, addressed the company’s approach in a recent earnings call, underscoring Netflix’s mission to provide “the biggest audience in the world for their films,” without requiring extended theatrical runs. Meanwhile, former Netflix executive and current Imax chief content officer, Jonathan Fischer, is exploring theatrical options for Narnia, potentially indicating a gradual shift in Netflix’s release strategy.

Although the recent leadership change at Netflix—Dan Lin replacing Scott Stuber as head of film—was not directly related to the Wuthering Heights decision, analysts speculate that loosening its streaming-first stance could challenge Netflix’s model, potentially leading to more filmmakers advocating for theater-inclusive releases. NYU’s Peter Newman explains, “Making an exception for one film could spark similar demands from other directors, pressuring Netflix’s current framework.”

The decision to bring Wuthering Heights to Warner Bros. underscores an evolving Hollywood landscape where traditional theatrical releases are increasingly prized, even in the age of streaming dominance.