Netflix CEO: Going to Theaters Outdated, Saving Hollywood

Netflix CEO Ted Sarandos firmly believes that the streaming giant is "saving Hollywood," despite the challenges facing the traditional film industry. Speaking at the Time100 Summit, Sarandos emphasized that Netflix's focus on delivering content directly to consumers is revitalizing the industry. "No, we're saving Hollywood," he asserted, highlighting Netflix's consumer-centric approach. "We deliver the program to you in a way you want to watch it."

Sarandos addressed the declining box office sales, suggesting that audiences prefer watching movies at home. While he expressed a personal fondness for the theater experience, he believes it's "an outmoded idea, for most people." This perspective aligns with Netflix's interests in promoting streaming over traditional cinema-going.

The struggles of Hollywood are evident, with only certain types of films like family movies and video game adaptations maintaining strong box office performance. Even Marvel films, once guaranteed blockbusters, are now experiencing varied success. The shift in viewing habits has been noted by figures like actor Willem Dafoe, who lamented the loss of the social and attentive experience of watching films in theaters. "Which is tragic, because the kind of attention that people give at home isn’t the same," Dafoe remarked, highlighting the impact on more challenging films.

In contrast, acclaimed filmmaker Steven Soderbergh sees a future where movie theaters and streaming services can coexist. He believes there's still an appeal to the cinematic experience and emphasized the importance of engaging younger audiences to sustain the tradition of theater-going. "I think people still want to go out," Soderbergh stated, underscoring the enduring allure of movie theaters as a destination. He stressed the need for thoughtful programming and engagement strategies to ensure the survival of the cinema-going experience.