Netflix CEO Ted Sarandos firmly believes that his company is "saving Hollywood" amidst the shifting landscape of the film industry. During his speech at the Time100 Summit, Sarandos addressed the exodus of production from Los Angeles, the shrinking theatrical window, the declining quality of the movie-going experience, and the inconsistent box office performance of many films. He confidently stated, "No, we’re saving Hollywood," emphasizing Netflix's consumer-centric approach. "We deliver the program to you in a way you want to watch it," he added, underscoring the convenience and accessibility that Netflix provides.
Sarandos also touched on the decline in box office sales, suggesting that this trend reflects a broader consumer preference for watching movies at home. While expressing his personal fondness for the theater experience, he described it as "an outmoded idea, for most people," acknowledging that it may not be obsolete for everyone. This perspective aligns with Netflix's business model, which prioritizes streaming over traditional cinema attendance.
The challenges facing Hollywood are evident, with family films like "Inside Out 2" and adaptations such as "A Minecraft Movie" seemingly holding the industry together. Even the once-reliable Marvel blockbusters are now experiencing variable success. This raises the question of whether cinema-going is becoming outdated. Last year, actor Willem Dafoe echoed similar sentiments, lamenting the shift in viewing habits from theaters to home. He highlighted the social aspect of movie-going, expressing concern over the loss of communal engagement and discourse that comes from shared cinematic experiences. "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention," Dafoe remarked, missing the way movies once fit into the social fabric.
In 2022, filmmaker Steven Soderbergh shared his insights on the future of movie theaters in the streaming era. He acknowledged the ongoing appeal of cinema but stressed the importance of engaging younger audiences to sustain the industry. Soderbergh, known for hits like the "Ocean's Eleven" series, suggested that the key to cinema's survival lies in thoughtful programming and fostering audience engagement. He emphasized the continued allure of the movie theater as a destination and the necessity of convincing older audiences to keep coming. "It has nothing to do with windowing," Soderbergh noted, indicating that the timing of releases between theaters and home viewing is less crucial than the overall experience and audience connection.
