Netflix CEO: Going to Theaters Outdated, Saving Hollywood

At the Time100 Summit, Netflix CEO Ted Sarandos boldly stated that his company is "saving Hollywood," despite ongoing challenges in the film industry. Sarandos emphasized that Netflix, being a consumer-focused company, is revolutionizing how content is consumed. "We deliver the program to you in a way you want to watch it," he explained, underscoring the shift towards home viewing.

Sarandos also addressed the decline in box office sales, suggesting that the public's preference is increasingly leaning towards watching movies at home. While he acknowledged his personal enjoyment of theatergoing, he dismissed it as "an outmoded idea, for most people." This perspective aligns with Netflix's business model, which prioritizes streaming over traditional cinema experiences.

Hollywood's recent performance has been propped up by family films like "Inside Out 2" and video game adaptations such as "A Minecraft Movie," while even Marvel movies, once sure-fire hits, are now experiencing inconsistent success. The industry's struggles are evident, with many theaters closing down.

Veteran actor Willem Dafoe has echoed similar sentiments about the changing landscape of film consumption. He lamented the loss of the social aspect of moviegoing, noting that at-home viewing does not foster the same level of engagement and discussion as a theater experience. "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention," Dafoe remarked, highlighting the cultural impact of cinema's decline.

In contrast, acclaimed filmmaker Steven Soderbergh remains optimistic about the future of movie theaters. Speaking in 2022, he acknowledged the appeal of cinema and its potential to remain a significant cultural destination. Soderbergh stressed the importance of programming and engagement in keeping theaters relevant, particularly in attracting younger audiences as they age. "There's still an appeal to seeing a movie in a movie theater," he said, emphasizing that the future of theaters depends on their ability to draw in and retain older audiences.

As the debate continues, the film industry must navigate these shifting preferences and find a balance between the convenience of streaming and the unique experience of the cinema.