Netflix CEO Ted Sarandos boldly declared at the Time100 Summit that the streaming giant is "saving Hollywood," emphasizing Netflix's pivotal role in the entertainment industry despite the significant shifts away from traditional cinema. Sarandos argued that Netflix's consumer-centric approach positions it as a savior, rather than a disruptor. "We deliver the program to you in a way you want to watch it," he stated, highlighting the flexibility and convenience that streaming offers over conventional movie theaters.
Addressing the decline in box office revenues, Sarandos posed a rhetorical question: "What is the consumer trying to tell us? That they'd like to watch movies at home." While he expressed a personal fondness for the theater experience, he also suggested that for most people, the idea of going to the cinema is outdated. "I believe it is an outmoded idea, for most people," he clarified, "Not for everybody."
These views align with Netflix's business model, which prioritizes streaming over theatrical releases. The broader context of Hollywood's challenges further underscores Sarandos' perspective. Films like "Inside Out 2" and adaptations such as "A Minecraft Movie" are among the few bright spots in an industry struggling to maintain its footing, even with previously reliable franchises like Marvel experiencing inconsistent success at the box office.
The debate over the relevance of movie theaters in the modern era is ongoing. Actor Willem Dafoe lamented the closure of cinemas and the shift towards home viewing, pointing out the diminished attention and social interaction that comes with watching movies at home. "More difficult movies, more challenging movies cannot do as well when you don't have an audience that's really paying attention," Dafoe noted, expressing concern over the loss of communal discourse that theaters once fostered.
In contrast, acclaimed director Steven Soderbergh remains optimistic about the future of movie theaters. He believes that despite the rise of streaming, there is still an allure to the cinematic experience. "There's still an appeal to seeing a movie in a movie theater," Soderbergh said, suggesting that the key to maintaining theater attendance lies in engaging younger audiences and encouraging them to continue visiting cinemas as they age. He emphasized that programming and engagement are crucial for the survival of the theater-going experience, independent of the timing between theatrical and home releases.
