Warner Music Group is nearing an agreement with Netflix to produce a slate of movies and documentaries based on the label’s artists and songs, Bloomberg News reported on Wednesday, citing people familiar with the discussions. The talks, if completed, would mark a new chapter in an intensifying race between music rights holders and streaming platforms to translate catalog value into visual content and subscriber engagement.

According to Bloomberg, the potential deal would give Netflix access to WMG’s roster and recordings for scripted biopics, concert films and documentary projects, though terms remain under negotiation. Representatives for Warner Music Group and Netflix did not immediately respond to requests for comment. People familiar with the matter told Bloomberg the talks were at an advanced stage but could still shift.

Industry executives say such arrangements reflect a broader strategy by record labels to diversify revenue streams as traditional recorded-music income faces pressure from streaming economics. “Labels are sitting on intellectual property that television and film can monetize far beyond what a streaming play or sync license can deliver,” said one music industry executive who asked not to be named. “Partnering with global platforms gives catalogs renewed life and reach.”

The business case is evident in recent successes. High-profile music biopics and documentaries — from theatrical hits like Bohemian Rhapsody, which grossed more than $900 million worldwide, to Netflix’s own music originals such as Miss Americana and The Dirt — have proven both lucrative and cultural. For streaming services, exclusive music-based films can drive subscriptions, generate social media buzz and seed new listening habits among younger viewers.

Yet the dealmaking carries cultural and social ramifications. Artist narratives are often contested terrain: families, estates and artists themselves have varying degrees of control and interest in how stories are told. Historically, biopics have sparked debates over factual accuracy and ethical representation; the label-driven model centralizes narrative decisions within commercial partnerships. “This could shape how generations understand musicians’ lives,” said a cultural critic who requested anonymity. “When labels and platforms control the cameras, myths can be polished or revised for marketability.”

There are also implications for artist compensation and negotiating leverage. For legacy acts and songwriters, licensing for film adaptations can unlock substantial payouts, but younger or less established artists may find themselves with limited bargaining power. The move highlights persistent concerns about rights ownership in an industry where recorded-music companies, private-equity buyers and tech platforms increasingly control core assets.

Moreover, the potential partnership speaks to the wider consolidation of cultural infrastructure. As major tech platforms seek exclusive content to differentiate services, the locus of cultural gatekeeping shifts further away from traditional studios and toward vertically integrated alliances between streamers and rights holders. Regulators and creators alike will be watching how such deals allocate profit, credit and creative control.

If Warner and Netflix finalize terms, the partnership would not only deepen the convergence of music and visual media but also accelerate a redefinition of artist legacies as curated, monetized content franchises. For audiences, the arrangement promises new storytelling and rediscovery of music catalogs. For the industry, it signals another stage in the ceaseless search for premium, exclusive content that can move both subscriptions and cultural conversation.