Netflix CEO: Theater Visits Outmoded, Saving Hollywood

Netflix CEO Ted Sarandos recently declared that the streaming giant is "saving Hollywood" amidst ongoing shifts in the entertainment industry. Speaking at the Time100 Summit, Sarandos emphasized Netflix's role as a consumer-focused company, stating, "We deliver the program to you in a way you want to watch it." He pointed out the trend of declining box office sales, suggesting that consumers prefer watching movies at home. Despite his personal fondness for the theater experience, Sarandos believes that for most people, the traditional theater-going experience is becoming "an outmoded idea."

The CEO's perspective aligns with Netflix's business model, which prioritizes streaming over traditional cinema. Hollywood's challenges are evident, with family movies like "Inside Out 2" and adaptations such as "A Minecraft Movie" supporting the industry, while even reliable hits like Marvel films face inconsistent success at the box office.

Veteran actor Willem Dafoe has also weighed in on the changing landscape, lamenting the closure of cinemas and the different level of engagement at home. He expressed concern over the loss of the social experience that cinemas provide, where movies spark discussions and shared experiences. Dafoe noted the difficulty for more challenging films to capture audience attention at home, where viewers might not give them the same level of focus.

In contrast, acclaimed filmmaker Steven Soderbergh sees a future where movie theaters and streaming services coexist. He believes there is still an appeal to the cinematic experience and stressed the importance of engaging younger audiences to sustain theater attendance as they age. Soderbergh highlighted programming and audience engagement as crucial factors for the survival of the cinema-going tradition, separate from the timing of film releases to streaming platforms.