At the TIME100 Summit, Netflix CEO Ted Sarandos made headlines by declaring that streaming platforms are revitalising, not ruining, the film industry. “No, we’re saving Hollywood,” he asserted, rejecting the narrative that Netflix and its competitors are to blame for the decline of traditional cinema. He emphasised that Netflix’s strength lies in consumer convenience and accessibility.
The Decline of Theaters
Sarandos cited declining box office sales as evidence of shifting viewer habits. “What is the consumer attempting to communicate to us? That they’d prefer to view films in their homes,” he stated. For many, the movie theater experience seems to be something of the past in an age where good content is a click away. Although he admitted that some still enjoy the big screen, characterising theaters as “an outdated concept—save for most people, not all people.”
Streaming has upended content production and delivery. It has created opportunities for new filmmakers and unorthodox storytelling that would not thrive in a theater-first paradigm. Series like The Queen’s Gambit and Beef were cultural touchstones without ever being seen on the silver screen. Sarandos contends that Netflix isn’t fighting theaters—it’s constructing a parallel universe that’s more inclusive and a lot more dynamic.
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Global Reach and Creative Risk
Platforms such as Netflix have driven international storytelling mainstream. Korean television dramas, German thrillers, and Spanish series are reaching an international audience. Passion projects previously shunned by risk-averse studios now receive life on streaming platforms. Even so, not all strike a chord—blockbuster titles such as The Electric State and Damsel have disappointed—but leave space for experimentation.
Though its critics chide Netflix for saturating the market with its erratic content, Sarandos sees this as strength in numbers. Streaming honours niche tastes, delivers on demand, and expresses the varied, shifting demands of global viewership. To him it’s not an end to film but a renewal.
The Future is Already Playing
The future of Hollywood is far from decided, but one thing is for sure: the screen landscape is shifting. Whether or not theaters can change quickly enough to remain relevant is yet to be determined, but as Sarandos maintains, the future of storytelling is already here—and it’s streaming.
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