Netflix CEO Ted Sarandos has boldly proclaimed that the streaming giant is "saving Hollywood," suggesting that the traditional experience of going to the cinema is becoming outdated for the majority of viewers. Speaking at the Time100 Summit, Sarandos defended Netflix's role amidst a backdrop of shifting production locales away from Los Angeles, shrinking theatrical windows, and declining audience satisfaction with cinema visits. Despite these challenges, Sarandos remains convinced that Netflix's focus on consumer preferences positions it as the industry's savior. "No, we’re saving Hollywood," he declared to the attendees, emphasizing that Netflix is "a very consumer-focused company" dedicated to delivering content in the most convenient way for viewers.
Addressing the slump in box office receipts, Sarandos posed a rhetorical question to the audience: "What is the consumer trying to tell us?" His answer was clear: "That they’d like to watch movies at home." While acknowledging his personal appreciation for theatergoing, he tempered this by stating, "I believe it is an outmoded idea, for most people. Not for everybody." Such views align well with Netflix's business model, which thrives on promoting streaming over traditional moviegoing.
The struggles within Hollywood are no secret, with family-oriented films like "Inside Out 2" and adaptations such as "A Minecraft Movie" helping to sustain the industry, while even reliable blockbusters from Marvel have become less predictable in their success.
The debate over the relevance of cinema visits continues. Last year, actor Willem Dafoe lamented the shift away from theaters, pointing out a significant loss in the communal and attentive experience that cinemas provide. "Which is tragic, because the kind of attention that people give at home isn’t the same," Dafoe remarked. He highlighted the social aspect of cinema-going, which fosters discussion and engagement in a way that casual home viewing does not.
In 2022, filmmaker Steven Soderbergh weighed in on the future of movie theaters, acknowledging their enduring appeal but stressing the importance of attracting younger audiences to sustain the cinema-going tradition. "I think people still want to go out," Soderbergh noted, underscoring the unique allure of the cinema as a destination. He believes that the future hinges on engaging older audiences and enhancing programming to keep the theatrical experience vibrant, independent of the timing between theatrical and home releases.
