At the Time100 Summit, Netflix CEO Ted Sarandos boldly claimed that his company is "saving Hollywood," despite the film industry facing numerous challenges, including the exodus of production from Los Angeles, the shrinking theatrical window, and declining box office performances. Sarandos emphasized Netflix's consumer-centric approach, stating, "We deliver the program to you in a way you want to watch it." He also addressed the downturn in theater attendance, suggesting that consumers prefer watching movies at home. While acknowledging his personal enjoyment of the theater experience, Sarandos believes that for most people, the idea of going to the cinema is outdated.
Hollywood's struggles are evident, with family films like "Inside Out 2" and video game adaptations such as "A Minecraft Movie" becoming lifelines for the industry. Even Marvel movies, once guaranteed billion-dollar successes, are now experiencing inconsistent results. This raises the question: Is the traditional cinema experience becoming obsolete? Actor Willem Dafoe lamented the shift, noting that the attention given to films at home differs significantly from that in theaters. He expressed concern over the loss of the social aspect of movie-going, which he feels is essential for fostering meaningful discussions and engagement with films.
Filmmaker Steven Soderbergh, known for hits like the Ocean's Eleven series, shared his perspective on the future of movie theaters in the streaming era. He believes that while the appeal of theaters remains, the industry must focus on programming and engagement to retain younger audiences as they age. Soderbergh emphasized the importance of the movie theater as a destination and the need to continue attracting older audiences, regardless of the theatrical window.
