Netflix CEO: Going to Theaters Outdated, Saving Hollywood

At the Time100 Summit, Netflix CEO Ted Sarandos confidently stated that Netflix is "saving Hollywood," despite the industry's ongoing challenges such as the migration of production away from Los Angeles, the shrinking theatrical window, and declining audience experiences in theaters. Sarandos emphasized Netflix's consumer-centric approach, saying, "We deliver the program to you in a way you want to watch it."

Addressing the decline in box office sales, Sarandos rhetorically asked, "What is the consumer trying to tell us?" suggesting that audiences prefer watching movies at home. While he expressed personal enjoyment of theater-going, he believes it to be "an outmoded idea, for most people," though he acknowledged it's not true for everyone. This perspective aligns with Netflix's interests in promoting streaming over traditional cinema visits.

Hollywood's struggles are evident, with family-oriented films like "Inside Out 2" and adaptations such as "A Minecraft Movie" bolstering the industry. Even Marvel films, once sure-fire billion-dollar hits, are experiencing inconsistent success. The notion that cinema attendance is becoming outdated is supported by comments from actor Willem Dafoe, who lamented the shift to home viewing. He noted the difference in attention given to films at home versus in theaters, and expressed concern over the loss of the social aspect of movie-going. "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention," Dafoe said, missing the communal experience of discussing films after a theater visit.

In 2022, filmmaker Steven Soderbergh shared his views on the future of movie theaters amidst the rise of streaming. He believes there is still an allure to the cinematic experience, saying, "There's still an appeal to seeing a movie in a movie theater. It's still a great destination." Soderbergh stressed the importance of engaging younger audiences to ensure the longevity of cinema-going, focusing on programming and audience engagement as crucial elements. He also noted that the future of theaters doesn't hinge on the timing of home releases but on maintaining the appeal of the theater itself.