Netflix CEO: Going to Theaters Outdated, 'Saving Hollywood'

Netflix CEO Ted Sarandos has boldly stated that the streaming giant is "saving Hollywood" amidst a backdrop of industry challenges, including the exodus of production from Los Angeles, the shrinking theatrical window, and declining box office figures. Speaking at the Time100 Summit, Sarandos emphasized Netflix's role as a "very consumer-focused company," claiming they deliver content in the way audiences prefer to consume it. "We deliver the program to you in a way you want to watch it," he asserted, suggesting that the shift towards streaming is driven by consumer demand.

Addressing the downturn in cinema attendance, Sarandos posed a rhetorical question, "What is the consumer trying to tell us?" He suggested that the preference for watching movies at home is clear. While expressing a personal fondness for the theater experience, he described it as "an outmoded idea, for most people," though acknowledging it's not a universal sentiment.

These views align with Netflix's business interests, as promoting streaming over traditional cinema-going is beneficial for the company. Hollywood's challenges are evident, with even reliable hits like Marvel movies experiencing inconsistent box office success, while family films like "Inside Out 2" and video game adaptations like "A Minecraft Movie" are keeping the industry afloat.

The debate over the relevance of cinema-going continues. Veteran actor Willem Dafoe lamented the loss of the communal and attentive experience of watching films in theaters, noting that at-home viewing lacks the same level of engagement. "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention," Dafoe remarked, highlighting the social aspect of movie-going that he feels is diminishing.

In 2022, acclaimed filmmaker Steven Soderbergh shared his perspective on the future of movie theaters, suggesting that while there's still an allure to the cinematic experience, the key lies in attracting and retaining younger audiences as they age. Soderbergh, known for hits like the "Ocean's Eleven" series, stressed the importance of programming and engagement to sustain the cinema-going tradition. "There's still an appeal to seeing a movie in a movie theater. It's still a great destination," he said, emphasizing that the future of theaters depends on engaging older audiences and is not solely about the timing of home releases.