"We need spectacular moments to snatch their attention in one stroke," Kang, the director, explains. Unlike streaming or TV, where viewers are "ready and willing to give up their time," micro-dramas are competing with the allure of scrolling.
Such a public battle could have left everyone involved bruised. But investors seem to have decided that no one lost, rewarding all three companies. Least surprising was the 12% leap in Netflix’s stock price on news of the deal. Wall Street had thought all along that WBD was an overpriced acquisition. (Netflix would have paid $83 billion to WBD.) Investors were glad to see the streamer put aside its ambition of owning the traditional Hollywood studio. As for WBD itself, investors clearly felt Paramount was paying a decent price for the entire company. On news of the deal, WBD stock barely budged; it was almost exactly where it had been in December when the whole fray began.
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