Netflix CEO Ted Sarandos has boldly stated that the streaming giant is "saving Hollywood," and views the traditional theater experience as "an outmoded idea for most people." Speaking at the Time100 Summit, Sarandos emphasized Netflix's role in the industry amidst challenges like the exodus of production from Los Angeles, the shrinking theatrical window, and declining audience experiences at theaters. He argued that Netflix's focus on consumer preferences positions it as the industry's savior. "No, we're saving Hollywood," Sarandos declared, underscoring the company's dedication to delivering content in the way consumers prefer.

Addressing the decline in box office sales, Sarandos posed a rhetorical question: "What is the consumer trying to tell us? That they'd like to watch movies at home." While expressing personal fondness for the cinema, he maintained that for the majority, the theater experience is outdated. This stance aligns with Netflix's business model, which prioritizes streaming over traditional cinema-going.

Hollywood's challenges are well-known, with family films like "Inside Out 2" and video game adaptations like "A Minecraft Movie" buoying the industry, while even Marvel's once-reliable blockbusters face uncertainty. The shift towards home viewing has been noted by industry veterans like actor Willem Dafoe, who lamented the closure of cinemas and the different kind of attention given to movies at home. "Which is tragic, because the kind of attention that people give at home isn't the same," Dafoe remarked, highlighting the loss of the social aspect of movie-watching that fosters discussion and engagement.

Filmmaker Steven Soderbergh, known for hits like the "Ocean's Eleven" series, offered insights into the future of movie theaters in the streaming era. While acknowledging the enduring appeal of the cinematic experience, Soderbergh stressed the importance of attracting younger audiences and ensuring their continued patronage as they age. He emphasized programming and engagement as crucial elements for sustaining the cinema-going tradition, suggesting that the industry's future hinges on its ability to adapt and innovate.