Netflix is saving Hollywood, says Ted Sarandos
The CEO of Netflix has rubbished the idea that the streaming platform is undermining the American movie business.
Asked if Netflix has destroyed Hollywood, Ted said at the TIME100 summit: "No, we're saving Hollywood."
The 60-year-old Netflix executive suggested that the platform is actually more in tune with film fans than traditional movie studios.
Ted explained: "[Netflix is] a very consumer-focused company. We deliver the programme to you in a way you want to watch it.
"What is the consumer trying to tell us? That they'd like to watch movies at home. I believe it [the theatrical release] is an outmoded idea, for most people - not for everybody."
Ted suggested that the industry landscape has changed markedly over recent years, noting that fewer and fewer people are drawn to the idea of watching a film in a cinema.
Ted also observed that studios, directors and film producers are having to adjust to the new landscape.
He said: "Folks grew up thinking, 'I want to make movies on a gigantic screen and have strangers watch them [and to have them] play in the theatre for two months and people cry and sold-out shows … It's an outdated concept."
What's more, Ted observed that streaming platforms, like Netflix, actually remove some of the logistical barriers to watching movies.
The executive shared: "I think it is - for most people, not for everybody. If you're fortunate to live enough in Manhattan, and you can walk to a multiplex and see a movie, that's fantastic. Most of the country cannot."
Meanwhile, George Clooney previously claimed that the film industry is in the midst of a "revolution".
The 63-year-old actor made the comments while promoting 'Wolfs' - his 2024 action-comedy - at the Venice Film Festival.
The Hollywood icon - who starred in the film alongside Brad Pitt - said: "Streaming is, we need it, our industry needs it … But they also benefit from having films released and that's why Brad and I were working so hard to try and get this released - and we're figuring it out, we haven't got it all figured out yet.
"This is a revolution in our industry and we need Apple and Amazon and they actually need distributors, they need to have Sony or Warner Bros. who actually have been doing this for 100 years. So, we're figuring this out. What I do think I see is a lot more work for actors. We're having to curate it differently and we're gonna figure that out."
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