Warner Bros. Discovery’s CEO, David Zaslav, has made it clear he’s banking on the company’s crown jewels to drive success: DC, Harry Potter, and The Lord of the Rings. And why not? According to Zaslav, they’ve been sitting in the vault, gathering dust—which, for properties that collectively have a rabid fanbase that could fill several planets, is a bit of a head-scratcher.
Speaking at the Goldman Sachs Communacopia and Technology Conference, Zaslav didn’t mince words: Warner Bros. owns some of the best intellectual property in entertainment, but they’ve let it idle for too long. “Our content, our great IP—Harry Potter, DC, Lord of the Rings—that content has been underused,” he said, per TheWrap. It’s a bold take, considering we’re talking about beloved characters like Superman, who hasn’t headlined a solo movie since Zack Snyder’s Man of Steel. Same goes for Harry, Frodo, and friends.
But while Zaslav wants to make sure these franchises shine, he’s also cautious not to swing the pendulum the other way. “We’ve got to be careful not to overuse the content,” he pointed out. Basically, we’re looking at a Goldilocks situation: not too little, not too much—just the right amount of high-profile sequels, prequels, and HBO series to keep fans happy and shareholders even happier.
A Return to Big Names for Big Bucks
Zaslav reiterated the focus on these big franchises, emphasizing that they’re not just valuable to fans but also crucial for the bottom line. Without them, the studio is, in his words, “relatively flat.” With them? Warner Bros. becomes a juggernaut. It’s no surprise, then, that he’s pushing for a 10-year plan for DC—akin to what Marvel Studios pulled off—and bringing Harry Potter back to HBO for a decade-long series that will, apparently, adapt each book with “faithful” care.
The strategy isn’t exactly new. Zaslav talked about the importance of the company’s flagship franchises during a Q3 earnings call back in 2022. He pointed out that they hadn’t had a Superman movie in over a decade, nor a Harry Potter film in 15 years, despite these movies being among the most profitable for Warner Bros. It’s almost like they forgot they were sitting on a goldmine and just remembered. Oops.
New Content on the Horizon
If you’re thinking Zaslav’s plan sounds like all talk, think again. Warner Bros. has already started making moves. In April, they officially announced a new Harry Potter TV series, promising a “decade-long” adaptation that would stay true to J.K. Rowling’s original books. Each season is expected to explore a single book, stretching Harry’s magical journey out like never before. You could say they’re doubling down on nostalgia and then some.
But that’s not all. Earlier in February, Warner Bros. confirmed plans for new The Lord of the Rings films. David Zaslav announced a partnership between Mike De Luca, Pam Abdy, and New Line Cinema, to bring audiences back to Middle-earth in “new and exciting ways.” De Luca and Abdy hinted that these upcoming movies might explore stories beyond Tolkien’s core books, aiming to tap into the “vast, complex and dazzling universe” that Peter Jackson previously brought to life.
Lee Guinchard, CEO of Freemode (which holds the rights to The Lord of the Rings), echoed this sentiment, talking up the “collaborative journey” they’re about to embark on with Warner Bros. and promising to “honor the past” while breaking new ground. So, more elves, more hobbits, and maybe even a side adventure featuring that one random Ent in the back—fingers crossed.
DC’s Moment to Shine?
Of course, DC’s also part of this grand plan. Earlier this year, DC Studios’ co-CEO James Gunn announced the next chapter in the DC Universe, starting with Superman: Legacy. Gunn laid out a vision for a connected universe that spans film, TV, gaming, and animation. His roadmap includes a mix of familiar names—Batman, Green Lantern—and a few more obscure entries like The Authority, ensuring there’s a little something for everyone.
Interestingly, Gunn’s plan comes with a clear delineation: if a project is outside the main DC Universe (think The Batman by Matt Reeves or Todd Phillips’ Joker), it will be marked as “Elseworlds,” essentially a different branch that doesn’t need to worry about continuity. It’s a way to have their Bat-cake and eat it too—more superheroes, less logistical headaches.
Big Bets, Big Risks
Zaslav’s plan to breathe new life into these iconic franchises makes sense from a business perspective. Fans love them, studios make money, everyone wins—in theory. But striking the balance between tapping into nostalgia and avoiding oversaturation is easier said than done. Hollywood’s history is filled with sequels and spin-offs that overstayed their welcome. Warner Bros. just has to hope they can toe that line without tripping over their own franchises.
Either way, the wheels are turning, and the promise of more magic, Middle-earth, and superhuman shenanigans is definitely on the horizon. Let’s see if Zaslav’s “franchise first” strategy pays off—because if not, we’re looking at a lot of Warner Bros. content that could end up as just another scroll-past on HBO Max.
