Netflix CEO Ted Sarandos has asserted that the streaming giant is “saving Hollywood,” while also suggesting that traditional theatergoing is “an outmoded idea for most people.”
Speaking at the Time100 Summit this week, Sarandos remained steadfast in his belief that despite the mass exodus of production from Los Angeles, the shrinking theatrical release window, declining audience experiences, and lukewarm box office performances, Netflix remains a beacon of hope for the entertainment industry. “No, we’re saving Hollywood,” he told the audience, emphasizing that Netflix operates as “a very consumer-focused company.”
He continued, “We deliver the program to you in a way you want to watch it.”
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Sarandos also addressed the decline in box office revenue, posing a rhetorical question: “What is the consumer trying to tell us?” His answer? “That they’d like to watch movies at home.” Although he acknowledged his personal fondness for the cinematic experience, he was quick to downplay its relevance for the general public. “I believe it is an outmoded idea, for most people,” he stated. “Not for everybody.”
It’s no shock that the head of the world’s leading streaming platform would hold such views—after all, pushing for streaming dominance aligns with Netflix’s business model.
Hollywood's current challenges are well documented. The box office increasingly relies on family films like Inside Out 2 and video game adaptations such as A Minecraft Movie, while even traditionally reliable franchises like Marvel now see mixed results.
Is moviegoing becoming obsolete? Last year, actor Willem Dafoe voiced concerns over changing viewing habits, noting how more people opt to stream at home instead of heading to theaters, which are closing in record numbers. “Which is tragic, because the kind of attention that people give at home isn’t the same,” Dafoe said.
He added, “More difficult movies, more challenging movies can struggle when audiences aren’t fully engaged. That’s a big thing. I miss the social aspect of where movies fit in the world. You go see a movie, then go out to dinner, talk about it later—that spreads the conversation. People now go home, say, ‘Hey, honey, let’s watch something stupid tonight,’ flip through, watch five minutes of ten movies, and decide to just go to bed. Where does that discourse happen?”
AnswerSee ResultsBack in 2022, filmmaker Steven Soderbergh shared insights on the future of movie theaters and how cinema culture might persist in the streaming era. While he acknowledged that “there's still an appeal,” he stressed that the key lies in encouraging younger generations to continue attending cinemas as they age.Soderbergh, known for directing hits like the Ocean’s Eleven series, discussed how theaters and streaming platforms could coexist. He pointed to programming and audience engagement as critical factors in preserving the theatrical experience.
“I think people still want to go out,” Soderbergh noted, recognizing the draw of going to the movies. “There's still an appeal to seeing a movie in a movie theater. It's still a great destination. And it really depends, I think, on our ability to attract and convince older audiences to keep coming out [...] It has nothing to do with windowing.”
