Discovery is at an advantage because Netflix still has to rely on licensing a large portion of its content from other studios at a time when many of them are trying to grow their own streaming services.

Discovery here as it has more breadth and depth of content as well as more long-standing franchises that it can leverage going forward. While Netflix has a solid content library, I am going to give the win to Warner Bros.

Netflix has also had success experimenting with one-off comedy specials like Dave Chapelle's recent stand-up specials. On the feature film front, Netflix was a maverick as a nontraditional studio that created critically acclaimed, award-nominated movies like The Irishman and Roma. The company also distributes hit shows like Narcos. Netflix has created a bevy of new franchises with large fan bases, such as Stranger Things, Ozark, and The Witcher. Netflix has built a compelling content library of its own, licensing movies and shows from other studios and creating its own content. Add in worldwide news from CNN and sports rights to the NBA, MLB, and the NHL, and this is a very compelling mix of content that spans all genres. Then there are the thousands of hours of original and unscripted content housed by Discovery, HGTV, TLC, and the Food Network (think everything from Shark Week to Flip or Flop). DC Entertainment houses iconic superheroes like Batman, Superman, Wonder Woman, the Flash, and Aquaman. Brands under its umbrella, such as HBO, feature some of the world's most beloved television shows like The Sopranos, The Wire, and Game of Thrones. Discovery has a content library that is second to none in the industry. These are two top-notch CEOs and while Hastings has a higher profile with the general public, I'm going to call this a draw. Hastings grew the business from a mail-order service into a $100 billion global empire with 221 million subscribers (and, it should be noted, the company had hit a market cap north of $300 billion before the recent sell-off). From there, the rest is history as he grew the company into the juggernaut that pioneered the streaming category and became the 'N' in the FAANG stock acronym that has taken the market by storm for much of the past decade. Reed Hastings, on the other hand, founded Netflix in 1997 as a business where consumers could rent movies by mail. He led the launch of Discovery+ and the merger with WarnerMedia that remolded the company into Warner Bros. After coming on board as CEO of Discovery in 2006, Zaslav transformed the network from a small channel into the international powerhouse it is today, acquiring Food Network and HGTV in the Scripps acquisition in 2018 and partnering with Oprah Winfrey to launch OWN in 2011 in what was a groundbreaking move at the time. Discovery CEO David Zaslav and Netflix's Chairman and co-CEO Reed Hastings are two of the highest-profile executives in the media space.

Discovery vs discovery pro