At the Time100 Summit, Netflix CEO Ted Sarandos asserted that Netflix is "saving Hollywood" amidst the industry's ongoing transformations. He emphasized that despite the exodus of production from Los Angeles, the shrinking theatrical window, and declining audience experiences at theaters, Netflix remains a consumer-focused company. Sarandos highlighted the convenience of streaming, stating, "We deliver the program to you in a way you want to watch it."
Addressing the decline in box office sales, Sarandos posed a rhetorical question: "What is the consumer trying to tell us? That they’d like to watch movies at home." While expressing his personal appreciation for the theater-going experience, he believes it to be "an outmoded idea, for most people."
Sarandos's views align with Netflix's business model, which prioritizes streaming over traditional cinema attendance. This perspective is set against a backdrop of Hollywood's well-documented struggles, where even traditionally successful franchises like Marvel films are experiencing inconsistent box office results. Family films and video game adaptations, such as Inside Out 2 and A Minecraft Movie, are among the few genres currently bolstering the industry.
The debate over the relevance of cinema-going continues, with actor Willem Dafoe lamenting the loss of the communal and focused experience that theaters provide. Dafoe noted the shift in viewing habits, where at-home viewing often lacks the engagement and discourse that cinemas foster. He expressed concern over the impact this has on more challenging films, which may not thrive without an attentive audience.
In 2022, filmmaker Steven Soderbergh offered insights into the future of movie theaters, suggesting that while there is still an appeal to the cinematic experience, the industry must focus on attracting and retaining younger audiences as they age. Soderbergh underscored the importance of programming and engagement in keeping theaters relevant, stating, "There's still an appeal to seeing a movie in a movie theater. It's still a great destination." He emphasized that the future of cinema-going is not solely dependent on the timing of theatrical and home releases but on the industry's ability to maintain its allure to audiences.
