At the recent Time100 Summit, Netflix CEO Ted Sarandos made bold statements about the state of Hollywood and the future of movie-watching. Despite the industry's challenges, such as production moving away from Los Angeles, shorter theatrical windows, declining cinema experiences, and inconsistent box office performances, Sarandos firmly believes that Netflix is "saving Hollywood." He emphasized that Netflix is a consumer-focused company, dedicated to delivering content in the way audiences prefer to consume it. "We deliver the program to you in a way you want to watch it," Sarandos stated, underscoring the convenience of streaming.
Addressing the declining box office sales, Sarandos rhetorically asked, "What is the consumer trying to tell us? That they’d like to watch movies at home." While he expressed a personal fondness for the theater experience, he also suggested that the concept of going to the cinema is "an outmoded idea, for most people." This viewpoint aligns 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 like "A Minecraft Movie" helping to sustain the industry. Even Marvel movies, once reliable box office juggernauts, are now experiencing varied success. The shift in consumer behavior has been acknowledged by other industry figures, such as actor Willem Dafoe, who lamented the loss of the communal and attentive experience of cinema-going. "Which is tragic, because the kind of attention that people give at home isn’t the same," Dafoe remarked, highlighting the diminished engagement when watching movies at home.
Dafoe also expressed concern about the impact on more challenging films, noting that they struggle to capture audiences without the focused environment of a theater. He missed the social aspect of cinema, where watching a movie becomes part of a broader cultural conversation. "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 shared his perspective on the future of movie theaters in the streaming era. He acknowledged the enduring appeal of the cinematic experience but stressed the importance of engaging younger audiences to ensure the longevity of theaters. "I think people still want to go out," Soderbergh said, emphasizing the value of movie theaters as destinations. He argued that the future of cinema depends on attracting older audiences and maintaining engagement, rather than solely focusing on the timing of theatrical and home releases.
Soderbergh's insights suggest that while streaming services like Netflix are reshaping how we watch movies, there remains a place for the traditional cinema experience. The key, he believes, lies in thoughtful programming and fostering a sense of community around film-watching, ensuring that theaters continue to thrive alongside streaming platforms.
