Netflix CEO Ted Sarandos Claims Streaming Is “Saving Hollywood,” Replacing “Outmoted” Movie Theaters

The debate about whether streaming has helped or hindered the future of the movie business is furiously debated online. But, one person who has an ardent stance and answer on the matter is Netflix CEO, Ted Sarandos. In fact, Sarandos doesn’t just think Netflix is helping to move the film industry along, he believes Netflix is single-handedly “saving Hollywood” while theaters and cinemas are a dying industry.

Ted Sarandos recently appeared at the TIME100 Summit (Via Deadline), and he made a bold statement about streaming’s impact on Hollywood during the presentation. When asked if streaming services like Netflix have destroyed Hollywood, Sarandos defiantly answered, “No, we’re saving Hollywood.” According to the CEO, streaming services are becoming more popular because they deliver shows and movies in the way that audiences actually want to view them. “[We’re] a very consumer-focused company. We deliver the program to you in a way you want to watch it” — that is, unless that consumer enjoys the company of others and watching a movie on the big screen with high-quality audio.

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To support his point, Ted Sarandos noted the gradual decrease in average box-office returns over the past few years. “What is the consumer trying to tell us?” Sarandos asked, before answering his own question, “That they’d like to watch movies at home.” So what about audiences who want to watch a film in theaters? While Sarandos isn’t entirely against theatrical releases, the Netflix CEO did go so far as to call movie theaters “an outmoded idea,” before tacking on “for most people — not for everybody.”

Has Netflix “Saved” Hollywood?

Netflix

The complete impact of Netflix on the movie industry would take an entire academic paper to unpack. But, there are several overt examples we can look at to see how Netflix has affected the movie and TV industry, for better and for worse. For starters, streaming has caused a resounding resurgence in the popularity of television. Thanks in part to the binge release model, many new streaming-only releases have boasted viewing figures that network TV can only dream of.

Another boon of the streaming industry is the opportunities it has afforded up-and-coming filmmakers. With less of an emphasis on box office results, streamers can afford to take some bolder risks, giving less recognized filmmakers a shot at making something great. Additionally, many big-name directors have been able to launch passion projects, which would have been a hard sell in theaters, thanks to the safety blanket afforded by streaming. Apple TV+ is perhaps the best example of this.

But, the big criticism against streaming, which especially applies to Netflix, is the quality of the movies being released. The terms “Netflix movie” and “second screen entertainment” have become synonymous with the streamer’s recent releases. While hits like Adolescence have defied the odds, movies and shows like The Electric State, Damsel, The Witcher, and many more are far from the high quality fans were hoping for given Netflix’s mountain of financial resources.

Source: Deadline

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