At the Time100 Summit, Netflix CEO Ted Sarandos confidently declared that the streaming giant is "saving Hollywood," despite the evident challenges the film industry faces. Sarandos pointed out the exodus of production from Los Angeles, the shrinking theatrical window, the declining quality of the cinema experience, and the inconsistent box office performance of recent releases. Yet, he firmly believes that Netflix, being a "very consumer-focused company," is the industry's savior. "We deliver the program to you in a way you want to watch it," he stated, underscoring Netflix's commitment to meeting viewer preferences.
Addressing the slump in cinema attendance, Sarandos rhetorically asked, "What is the consumer trying to tell us? That they’d like to watch movies at home." While acknowledging his personal enjoyment of theater-going, he suggested that the traditional cinema experience is becoming outdated for the majority. "I believe it is an outmoded idea, for most people," he remarked, though he clarified that it's not true for everyone.
It's no shock that the CEO of a leading streaming service would advocate for streaming over traditional cinema visits. Hollywood's struggles are well-known, with family-oriented films like "Inside Out 2" and video game adaptations such as "A Minecraft Movie" seemingly holding up the industry. Even Marvel movies, once assured billion-dollar successes, are now experiencing varied results.
The debate over whether cinema visits are outdated continues. Last year, acclaimed actor Willem Dafoe expressed concern about the shift in film consumption from theaters to homes. "Which is tragic, because the kind of attention that people give at home isn’t the same," Dafoe lamented. He highlighted the loss of the social aspect of movie-going, where viewers would discuss films over dinner, fostering cultural discourse. In contrast, he noted, home viewers often lack engagement, flipping through multiple movies without meaningful interaction.
In 2022, renowned director Steven Soderbergh offered insights on the future of movie theaters in the streaming era. He acknowledged the enduring appeal of the cinema experience, stating, "There's still an appeal to seeing a movie in a movie theater. It's still a great destination." Soderbergh emphasized the importance of attracting younger audiences and retaining older ones to keep theaters relevant. He stressed that the future of cinema lies not in the timing of releases but in programming and audience engagement.
