Netflix CEO: Going to Theaters Outdated, Saving Hollywood

Netflix CEO Ted Sarandos has boldly stated that the streaming giant is "saving Hollywood," positioning Netflix as the savior of the film industry despite the challenges it faces. During his appearance at the Time100 Summit, Sarandos argued that the shift away from traditional movie theaters and the decline in box office performance are not signs of industry collapse but rather a transformation that Netflix is leading. "No, we’re saving Hollywood," he emphasized, underscoring Netflix's commitment to being a consumer-focused company. "We deliver the program to you in a way you want to watch it," he added, highlighting the convenience and accessibility that streaming offers.

Addressing the declining theater attendance and box office sales, Sarandos rhetorically asked, "What is the consumer trying to tell us? That they’d like to watch movies at home." While he expressed his personal fondness for the cinematic experience, he also described theatergoing as "an outmoded idea, for most people," though he acknowledged it's not universally true.

Given Sarandos's role at Netflix, his perspective aligns with the company's interests in promoting streaming over traditional cinema. Hollywood's challenges are evident, with even reliable hits like Marvel movies experiencing inconsistent box office results. Family-friendly films like "Inside Out 2" and video game adaptations such as "A Minecraft Movie" are currently buoying the industry.

The shift towards home viewing has sparked debate about the future of movie theaters. Veteran actor Willem Dafoe lamented the loss of the communal experience of cinema, suggesting that the casual, distracted viewing at home does not foster the same level of engagement and discussion that theaters encourage. "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention," Dafoe noted, emphasizing the cultural and social significance of the cinema experience.

In 2022, filmmaker Steven Soderbergh offered insights into the future of movie theaters amidst the rise of streaming services. He acknowledged the enduring appeal of the cinematic experience but stressed the importance of attracting younger audiences to ensure the longevity of theaters. "There's still an appeal to seeing a movie in a movie theater. It's still a great destination," Soderbergh remarked, pointing out that the key to maintaining the cinema-going tradition lies in programming and engagement strategies that keep audiences coming back.