Netflix co-CEO Ted Sarandos claims they are “saving Hollywood”
Netflix boss and co-CEO Ted Sarandos recently attended the TIME100 Summit, where he boldly remarked that Netflix are “saving Hollywood.”
Sarandos made the comment after he was asked if Netflix had destroyed Hollywood, given falling box office numbers, production companies fleeing LA, and shrinking theatrical windows. “No, we’re saving Hollywood,” he stated.
He then described Netflix as a “very consumer-focused company. We deliver the program to you in a way you want to watch it.”
Sarandos’s comments come at a time where many have speculated that the Black Mirror season 7 opening episode calls out the Netflix subscription model, due to incremental fee increases and incessant tweaks to the subscription.
The Netflix boss also admitted that he personally loved the theatre, but the experience may not be as favourable a pastime as many think. “I believe it is an outmoded idea, for most people — not for everybody,” he clarified.
He also spoke of the extra hurdles that the entertainment industry must face compared to other industries.
“What I was saying is, it’s often that the entertainment industry doesn’t get treated like a real business, and that’s one of the examples of it.” Here, he refers to quotas and co-production requirements in China, even without President Trump’s tariff regimes.
Netflix have just released the new trailer for Wednesday, starring Jenna Ortega.