Netflix CEO: Going to Theater Outmoded, Saving Hollywood

Netflix CEO Ted Sarandos has boldly claimed that his company is "saving Hollywood," asserting that the traditional theatergoing experience is "an outmoded idea for most people." Speaking at the Time100 Summit, Sarandos addressed the shifting landscape of film production and consumption, emphasizing Netflix's consumer-focused approach. He argued that the streaming giant is delivering content in the manner that modern audiences prefer, saying, "We deliver the program to you in a way you want to watch it."

Sarandos also touched on the declining box office figures, suggesting that this trend indicates a consumer preference for watching movies at home. Despite expressing his personal fondness for the theater experience, he maintained that it is becoming outdated for the majority. This perspective aligns with Netflix's business interests, which favor streaming over traditional cinema visits.

The challenges facing Hollywood are evident, with family-oriented films like "Inside Out 2" and adaptations such as "A Minecraft Movie" providing some support to the industry. Even Marvel movies, once guaranteed box office successes, are now experiencing inconsistent results.

The debate over the relevance of cinema-going continues. Actor Willem Dafoe lamented the closure of theaters and the shift to home viewing, noting a significant difference in audience engagement. He expressed concern that more challenging films struggle to find an attentive audience at home, missing the social aspect of cinema that fosters discussion and cultural impact. Dafoe remarked, "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention. That’s a big thing. I miss the social thing of where movies fit in the world."

Filmmaker Steven Soderbergh, known for the "Ocean's Eleven" series, offered insights into the future of movie theaters in the streaming era. 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 the need for strategic programming and audience engagement to keep the cinema-going tradition alive, stating, "I think people still want to go out. There's still an appeal to seeing a movie in a movie theater. It's still a great destination."