Los Angeles, Apr 24 (UNI) The future of movies lies in streaming, according to Netflix co-CEO Ted Sarandos, who says that the streaming service is “saving Hollywood”, amid the dwindling theatrical demand, sagging box office receipts and production fleeing L.A.
Making his remarks at the TIME100 Summit, Sarandos said that the streaming giant is “a very consumer-focused company. We deliver the program to you in a way you want to watch it,” Deadline reported.
Referring to the declining box office, he said: “What is the consumer trying to tell us? That they’d like to watch movies at home.”
Though admitting that he himself loved the traditional theatrical experience, the entrepreneur called the collective experience an increasingly “outmoded idea”. “I believe it is an outmoded idea, for most people — not for everybody.”
Sarandos also addressed comments he made earlier in the day at Semafor’s World Economy Summit about hurdles that entertainment companies often face — even without President Trump’s tariff regimes — that go beyond those that other industries face, among them quotas and co-production requirements in China.
“What I was saying is, it’s often that the entertainment industry doesn’t get treated like a real business, and that’s one of the examples of it.”
The impact of streaming services on films and television across the world is something that can’t be easily explained, as it has both its positives and negatives. The Netflix co-CEO’s statement did not go unnoticed either, as being the biggest streaming giant among its peers the company has indeed given audiences the benefit of watching films from their homes at leisure, saving time, energy, and money, and access a massive library of films and serials.
However, this also comes at the cost of a reduced experience, given the unique nature of a theatrical experience, and the criticism levied at Netflix for its quantity over quality approach, regarding its library.
