Netflix CEO Ted Sarandos Says Movie Theater Model Is ‘Outdated’

In a recent interview, Netflix co-CEO Ted Sarandos was asked if Netflix had “destroyed Hollywood.” Sarandos responded by stating, “No, we’re saving Hollywood.” The conversation took place at the Time100 Summit in New York, where Sarandos discussed Netflix’s impact on Hollywood amidst declining box office numbers and changes in consumer behavior. He insists he loves movie theaters, but their decline doesn’t “bother” him. He would only be bothered if “people stop making great movies.” Sarandos emphasized that Netflix focuses on delivering content in ways that align with viewer preferences, calling theaters an “outdated concept” and saying people prefer in-home viewing. (Variety)