Netflix CEO Ted Sarandos recently declared at the Time100 Summit that the streaming giant is "saving Hollywood." He firmly believes that the traditional experience of going to the cinema is becoming "an outmoded idea for most people." Despite the shift of production away from Los Angeles, the shrinking theatrical window, and declining audience experiences at theaters, Sarandos insists that Netflix's focus on consumer preferences is revitalizing the industry. "We’re saving Hollywood," he stated confidently, emphasizing that Netflix delivers content in the way consumers want to watch it.
Addressing the slump in box office sales, Sarandos posed a rhetorical question: "What is the consumer trying to tell us? That they’d like to watch movies at home." While he admitted to enjoying theater visits himself, he suggested that this preference is not shared by the majority. "I believe it is an outmoded idea, for most people," he noted, though he acknowledged exceptions exist.
Given Sarandos's position at Netflix, it's understandable that he champions streaming over traditional cinema visits. Hollywood's challenges are well-known, with films like "Inside Out 2" and "A Minecraft Movie" bolstering the industry, while even Marvel's once-reliable blockbusters face uncertain returns.
The shift in viewing habits has sparked debate about the future of movie theaters. Legendary actor Willem Dafoe expressed concern over this trend, lamenting the loss of the communal experience of cinema. "Which is tragic, because the kind of attention that people give at home isn’t the same," Dafoe remarked. He highlighted the difficulties faced by more challenging films, which struggle to captivate audiences distracted at home. Dafoe also missed the social aspect of movie-going, where discussions and shared experiences extend beyond the screening.
In 2022, acclaimed filmmaker Steven Soderbergh offered insights into the future coexistence of movie theaters and streaming services. He acknowledged the enduring appeal of cinema outings but stressed the importance of engaging younger audiences to sustain the tradition. "There's still an appeal to seeing a movie in a movie theater," Soderbergh stated, emphasizing the need to attract older audiences to maintain this allure. He suggested that the future of theaters hinges on programming and engagement, rather than the timing of movie releases between theaters and home viewing.
