Name: Podcast 花絮：Netflix 與 Skydance 爭奪華納兄弟的戰局大解密！ (Podcast Outtake: Netflix vs. Skydance - The Battle for Warner Bros. Explained)
Uploaded: 2025-12-15T16:57:37.000Z
Duration: 11 min 16 s

情態副詞

And so we'll be watching closely what happens.

所以我們會密切關注後續發展。

But we're shifting gears to the topic of today's episode, which is another major investment, the sale of Warner Brothers to Netflix.

接下來我們要換個話題，今天的節目主題是另一項重大投資，華納兄弟賣給 Netflix。

And so we have this kind of trifecta going on.

所以我們就出現了這種三強鼎立的局面。

And I want to start by addressing one of the first comments that I see here from a viewer.

我想先來回應一位觀眾的留言。

Camden McBride says Netflix buying Warner Bros. Should be a really good thing.

Camden McBride 說 Netflix 買下華納兄弟應該是件好事。

People are literally overreacting about this.

I mean, first of all, just, if we're going to talk, let's get the right jargon.

我是說，首先，如果我們要討論，就請用對的術語。

It's not actually an investment at this point.

So it's an acquisition that I would say at a high level, explains and addresses.

所以這是一場收購，我會說，從高層來看，它解釋並解決了問題。

You could call it like the mistake that like Big Media did with the Internet and Google, the search ecosystem, which change discovery and recovery.

你可以稱之為大型媒體對網路和 Google、搜尋生態系統所犯的錯誤，這改變了發現和找回內容的方式。

I mean, you see YouTube and Netflix, we've talked about it.

我是說，你看看 YouTube 和 Netflix，我們都討論過了。

One is evolutionary Netflix, same kind of programming as TV and theatrical, but in a different user experience.

一個是演進式的 Netflix，節目內容和電視、電影一樣，但使用者體驗不同。

And YouTube, which is just revolutionary in that it has changed the definition of quality.

而 YouTube，它簡直是革命性的，它改變了品質的定義。

But so these two behemoths, one in AVOD ad supported video on demand and one in SVault subscription video on demand, they've kind of just sucked out the energy from the room.

但這兩大巨頭，一個是廣告收益隨選視訊 (AVOD)，另一個是訂閱隨選視訊 (SVOD)，牠們就像把房間裡的能量都吸乾了。

And as much as traditional media still have a lot of ip, a lot of rights, you know, a lot of legacy assets, and

儘管傳統媒體仍擁有大量知識產權、權利，你知道的，還有很多歷史資產，而且

they've tried to evolve to also go direct to consumer.

他們也試圖轉型，直接面對消費者。

Disney did it with Disney plus, you know, the writing is on the wall.

迪士尼推出了 Disney Plus，你知道的，這跡象已經很明顯了。

You know, when we started our, our videos were a bit longer than the norm.

你知道，我們剛開始製作影片時，長度比一般標準還長一些。

And you know, as I say, even disruptors get disrupted.

而且你知道，就像我說的，即使是顛覆者也會被顛覆。

But I think it's, it's largely to say, okay, given what we see happening with Google, YouTube's dominance and Netflix itself worrying about YouTube's growth, then big Media, it's a game of, it's a game of musical chairs, right?

但我認為，很大程度上是說，鑑於我們看到 Google 和 YouTube 的主導地位，以及 Netflix 自己也擔心 YouTube 的成長，那麼大型媒體公司，這就像一場搶椅子遊戲，對吧？

And yeah, what happened was Netflix made a very, very compelling offer for, we'll just say 80% of the assets, the ones that they care about.

是的，結果是 Netflix 提出了一個非常有吸引力的提議，我們就說，他們看重的 80% 的資產。

And Warner Brothers Discovery, which was kind of Time Warner's own history, it started off, well, started off after a century.

而華納兄弟探索，這基本上是時代華納自己的歷史，它開始的時候，嗯，開始於一個世紀之後。

It merged with aol, one of the most disastrous M and A deals of all time.

它與 AOL 合併，這是史上最糟糕的併購交易之一。

And then it was spun off, burdened with a lot of debt and Then David Zaslav, a very shrewd deal maker, merged his discovery with Warner.

然後它被剝離，背負了大量債務，然後 David Zaslav，一位非常精明的交易締造者，將他的 Discovery 與 Warner 合併。

But in the end, it still had to find an outcome and a home.

但最終，它還是得找到一個結局和一個歸宿。

But you have this very, very ambitious young man in David Ellison, son of Larry, founder of Oral, one of the wealthiest people, Oracle in the planet.

但你有一個非常有野心、非常年輕的人 David Ellison，他是 Larry 的兒子，Oral 的創始人，他是世界上最富有的人之一，Oracle 的創始人。

And so, you know, he, he has access to capital.

所以，你知道，他，他有資金可以使用。

He's very ambitious and he's kind of re engaging them, saying, wait a minute, our offer was better for shareholders.

他非常有野心，而且他正在重新接觸他們，說，等一下，我們的報價對股東來說更好。

那你們為什麼要接受 Netflix 的交易？

And Netflix is like very confident that that deal will prevail.

而 Netflix 則非常有信心這項交易會成功。

So a little bit of late innings drama and intrigue, which I love because in another life I would have been an M and a banker.

所以有點像比賽後期出現的戲劇性和懸念，我超愛這種的，因為如果人生重來一次，我可能會去當併購銀行家。

Well, we got another question from the audience.

好，我們還有一個觀眾的問題。

Mandatory critical of WatchMojo question.

Who cares what watch Mojo's opinion is on this topic from Multiverse.

誰管 WatchMojo 對這個 Multiverse 的話題有什麼看法。

Yvonne，Yvonne，把那個，那個圖片叫出來。

So, I mean, look, Michael Milken, one of the most successful investors.

所以，我的意思是，你看，Michael Milken，最成功的投資者之一。

He re engaged and reemerged as a philanthropist.

他重新投入，並以慈善家的身份重新出現。

He has one of the greatest quotes of all time.

The most successful investor is a social scientist.

最成功的投資者是一位社會科學家。

I grew up loving humanities, went into business, was a storyteller, landed in this universe.

我從小就熱愛人文學科，進入商界，成為一名說故事的人，然後進入了這個領域。

I started Watch Mojo because I understood where the puck was going in terms of trends when we started Multiverse hq.

我創辦 Watch Mojo 是因為我瞭解在我們創辦 Multiverse hq 時，趨勢的發展方向。

所以，我看到了這個金字塔，可以這麼說。

I saw that you had if, if the top represents super premium.

我看到如果你們，如果頂端代表超級頂級。

I saw that those guys, The Foxes, the ABCs, the NBCs, would not really embrace the web because of a lack of economic determinism, to quote our friends Marx from the previous show we did on capitalism and socialism and communism.

我看到那些人，Foxes、ABCs、NBCs，因為缺乏經濟決定論，不會真正擁抱網路，引用我們之前關於資本主義、社會主義和共產主義節目的馬克思朋友的話。

And then at the bottom you had this revolution where because of things like mobile editing tools and all that, you had this explosion of user generated content to the point that in 2006, Time magazine's person of the year was you.

然後在底部，你們有一個革命，因為行動編輯工具之類的工具，出現了使用者生成內容的爆炸性成長，到了 2006 年，《時代》雜誌的年度風雲人物就是你們。

So watch Moldro was a pioneer, recognizing that there was an opportunity and a vacuum in that middle.

所以，Moldro 算是先驅，他們發現中間有機會和空缺。

And we kind of reinvented what programming looked like.

我們有點重新定義了程式設計的樣貌。

Our, our music videos look like VH1, our sports videos look like something that ESPN could produce.

我們的音樂錄影帶看起來像 VH1，我們的體育影片就像 ESPN 能製作出來的。

Our history videos look like something out of the history channel or CNN.

我們的歷史影片看起來就像來自 History Channel 或 CNN。

And the market shifted to the point where big media got the memo a bit late.

市場轉變到大型媒體有點晚才收到這個訊息。

They had no economic incentive to do that.

他們沒有經濟誘因去做這件事。

So what you ended up seeing was that pyramid was no longer the case.

所以你們最後看到的是，那個金字塔不再是這樣了。

If you said, well, Disney blew up its business precipitated by Covid, but

如果你說，嗯，迪士尼的業務是因為 COVID 而崩潰，但

they blew up their business just amount to embrace consumers and go direct to consumer.

他們的業務崩潰只是為了擁抱消費者並直接面向消費者。

So what ended up happening is you had that had a lot of content invest in distribution, either by acquiring or by launching their own platforms.

所以最後發生的是，他們有很多內容投資於發行，無論是透過收購還是推出自己的平臺。

And then you also had these distribution platforms, these big tech platforms that were now like in this brave new world, you know, the masters of the the universe.

然後你也有這些發行平臺，這些大型科技平臺，牠們現在就像在這個嶄新的世界裡，你知道的，宇宙的主宰。

There's a saying, Hollywood thinks it rules the planet, Silicon Valley thinks it rules the universe.

有句話說，好萊塢認為自己統治地球，矽谷認為自己統治宇宙。

So you had a company like Apple licensing content.

所以你看到像蘋果這樣的公司授權內容。

You had Google acquiring YouTube but still being a neutral platform.

你看到 Google 收購了 YouTube，但仍然是一個中立的平臺。

And you had others that were like, we're just going to get into content production ourselves.

而另一些公司則說，我們就是要自己投入內容製作。

So these two spheres started to merge and you could argue now that this is where we are, that there's no real difference.

所以這兩個領域開始融合，你現在可以說，這就是我們現在的狀況，沒有真正的區別了。

there's no, there's not as much of a difference anymore between Paramount, Skydance, or formerly Paramount known as Viacom, and

像派拉蒙、Skydance，或是以前的派拉蒙（Viacom），跟

a Google or YouTube because they're all fighting for attention.

Google 或 YouTube 之間的差別已經沒那麼大了，因為大家都在爭奪觀眾的注意力。

Watch time, mind share, Market share, market dominance.

觀看時間、心智佔有率、市場佔有率、市場主導地位。

So the reason why you care about watch Mojo or not is for one, we cover trends, we cover the zeitgeist.

所以你為什麼會在乎 Watch Mojo，原因有幾個，第一，我們涵蓋趨勢，我們涵蓋時代精神。

We also have been telling you where the puck is going, whether it's in the new movies you like or whether it's tapping into your nostalgia to say if you like X, you may like this new thing Y, but

我們也一直在告訴你趨勢的走向，無論是你在看的新電影，或是觸及你的懷舊情懷，說如果你喜歡 A，你可能會喜歡這個新的 B，但是

the people that care about what we say is because they want to know where the world is going.

在乎我們說什麼的人，是因為他們想知道這個世界正走向何方。

You could put your, you know, I'm not being rude and say, put your head in the sand.

你可以，你知道，我不是故意無禮，說把頭埋進沙子裡。

You, you could go watch one of the other 10 videos we did on Batman and you know, whatever.

你可以去看我們做的其他 10 部關於蝙蝠俠的影片，你知道，隨便什麼。

But some people do care about this and those people are the ones that make these decisions.

但有些人確實關心這件事，而這些人就是做出這些決定的人。

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Podcast 花絮：Netflix 與 Skydance 爭奪華納兄弟的戰局大解密！ (Podcast Outtake: Netflix vs. Skydance - The Battle for Warner Bros. Explained)

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