Netflix CEO Ted Sarandos recently asserted that his company is "saving Hollywood," emphasizing the shift from traditional theatergoing to streaming. Speaking at the Time100 Summit, Sarandos addressed the industry's challenges, including the exodus of production from Los Angeles, the shrinking theatrical window, and declining cinema attendance. He firmly stated, "No, we're saving Hollywood," underscoring Netflix's consumer-centric approach. "We deliver the program to you in a way you want to watch it," he added, highlighting the convenience of streaming.
Sarandos also tackled the issue of dwindling box office sales, suggesting that consumer preferences are shifting towards home viewing. "What is the consumer trying to tell us? That they'd like to watch movies at home," he remarked. Despite his personal appreciation for the cinematic experience, Sarandos considers traditional theatergoing "an outmoded idea, for most people," though he acknowledges it's not true for everyone. This perspective aligns with Netflix's business model, which prioritizes streaming over cinema visits.
Hollywood's challenges are evident, with family-oriented films like "Inside Out 2" and adaptations such as "A Minecraft Movie" bolstering the industry. Even Marvel's once-reliable billion-dollar blockbusters are now inconsistent performers. The shift away from theaters is a topic of concern for industry veterans like Willem Dafoe, who laments the loss of the social aspect of cinema-going. "Which is tragic, because the kind of attention that people give at home isn't the same," Dafoe stated, pointing out the difficulty more challenging films face without a focused audience.
Dafoe also highlighted the communal experience of cinema, which he feels is diminishing. "More difficult movies, more challenging movies can not do as well, when you don’t have an audience that’s really paying attention. That’s a big thing. I miss the social thing of where movies fit in the world. You go see a movie, you go out to dinner, you talk about it later, and that spreads out. People now go home, they say, ‘Hey, honey, let’s watch something stupid tonight,’ and they flip through and they watch five minutes of 10 movies, and they say, forget it, let’s go to bed. Where’s that discourse found?”
In 2022, filmmaker Steven Soderbergh offered insights into the future of movie theaters amidst the rise of streaming. He believes there's "still an appeal" to the theatrical experience but stressed the importance of engaging younger audiences to ensure cinemas remain relevant as they age. Soderbergh, known for hits like the "Ocean's Eleven" series, sees a future where theaters and streaming can coexist by focusing on programming and audience engagement. "I think people still want to go out," he said, emphasizing the unique allure of movie theaters. "There's still an appeal to seeing a movie in a movie theater. It's still a great destination. And it really depends, I think, on our ability to attract, to convince the older audiences to continue to come out [...] It has nothing to do with windowing."
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