Netflix CEO Ted Sarandos boldly declared at the Time100 Summit that the streaming giant is "saving Hollywood." He emphasized Netflix's role in a shifting entertainment landscape, where traditional theatrical releases are experiencing challenges. Despite the exodus of production from Los Angeles, the shrinking theatrical window, declining audience experiences, and inconsistent box office performance, Sarandos firmly believes that Netflix is the industry's savior. "No, we’re saving Hollywood," he stated, underscoring the streamer's focus on consumer preferences. "We deliver the program to you in a way you want to watch it," he added, highlighting Netflix's commitment to convenience and accessibility.
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 fondness for cinema-going, he downplayed its overall relevance, stating, "I believe it is an outmoded idea, for most people. Not for everybody." Such views align with Netflix's business model, which prioritizes streaming over traditional theatrical releases.
Hollywood's struggles are evident, with family films like "Inside Out 2" and video game adaptations such as "A Minecraft Movie" providing some support. Even Marvel movies, once guaranteed blockbusters, are now experiencing fluctuating success. This raises the question: Is the traditional cinema experience becoming outdated? Legendary actor Willem Dafoe echoed this sentiment last year, noting the shift in how people consume films at home. "Which is tragic, because the kind of attention that people give at home isn’t the same," Dafoe remarked, lamenting the loss of the communal and social aspects of movie-watching.
Dafoe highlighted the challenges faced by more demanding films that require focused attention, which are less likely to thrive in a distracted home environment. He missed the social engagement that movies once fostered, where discussions and shared experiences extended beyond the theater. "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, acclaimed filmmaker Steven Soderbergh offered insights into the future of movie theaters amidst the rise of streaming. He acknowledged the enduring appeal of cinema but stressed the importance of engaging younger audiences to sustain the industry. "I think people still want to go out," Soderbergh said, recognizing the allure of the movie theater experience. He emphasized the need for strategic programming and audience engagement to keep theaters relevant. "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," he explained, pointing out that the future of theaters lies in creating compelling reasons for people to attend, beyond the timing of home releases.
