Netflix CEO: Going to Theaters Outdated, Saving Hollywood

Netflix CEO Ted Sarandos has boldly claimed that the streaming giant is "saving Hollywood," asserting that the traditional theatergoing experience is becoming "an outmoded idea for most people." Speaking at the Time100 Summit, Sarandos defended Netflix's role in the industry, despite the exodus of production from Los Angeles, the shrinking theatrical window, and the declining quality of the cinema experience. He emphasized Netflix's consumer-centric approach, stating, "We deliver the program to you in a way you want to watch it."

Addressing the slump in box office sales, Sarandos posed a rhetorical question: "What is the consumer trying to tell us? That they’d like to watch movies at home." While he expressed a personal fondness for the theater, he suggested that for the majority, the allure of the cinema is fading. This perspective aligns with Netflix's business model, which prioritizes streaming over traditional movie-going.

Hollywood's challenges are evident, with family films like "Inside Out 2" and video game adaptations such as "A Minecraft Movie" bolstering the industry. Even Marvel movies, once guaranteed blockbusters, are now experiencing inconsistent success. The shift in viewing habits has been noted by actors like Willem Dafoe, who lamented the closure of cinemas and the different level of attention given to films at home. Dafoe highlighted the social aspect of cinema, which he feels is lost in the home viewing experience, impacting the appreciation of more challenging films.

In 2022, filmmaker Steven Soderbergh shared his views on the future of movie theaters, suggesting that while there is still an appeal to the cinematic experience, the industry must focus on engaging younger audiences to sustain it. Soderbergh, known for hits like the "Ocean's Eleven" series, believes that movie theaters and streaming services can coexist, with programming and audience engagement being crucial to maintaining the allure of the cinema.