Netflix CEO Ted Sarandos asserts the streaming platform is "rescuing Hollywood," declaring movie theaters "an outdated concept for most audiences."

Speaking at this week's Time100 Summit, Sarandos positioned Netflix as Hollywood's guardian amid industry challenges: mass exodus of productions from LA, shrinking theatrical release windows, declining cinema attendance, and inconsistent box office performances. "We're not hurting Hollywood - we're saving it," he told attendees, emphasizing Netflix's consumer-first approach.

He continued: "We deliver entertainment exactly how viewers want to experience it."

Addressing declining box office revenue, Sarandos posed: "What are audiences telling us? They prefer home viewing." While expressing personal fondness for theaters, he maintained cinema-going "has become obsolete for most people - though not everyone."

The streaming giant's leader naturally advocates digital viewing over theatrical releases - aligning with Netflix's business interests.

Hollywood's challenges persist, with only tentpole franchises like Inside Out 2 and video game adaptations maintaining stability. Even Marvel's once-guaranteed billion-dollar films now deliver inconsistent results.

Is cinema truly outdated? Veteran actor Willem Dafoe recently lamented shifting viewing habits: "Theaters closing is tragic - home viewing fosters different engagement. Difficult films suffer without focused audiences." He mourned the loss of cinematic culture: "The social ritual - seeing films, discussing them over dinner - that's disappearing."

"Now people browse five minutes of ten movies before giving up. Where's the cultural conversation?" Dafoe questioned.

Acclaimed director Steven Soderbergh (Ocean's Eleven) recently shared insights on cinema's future in the streaming era: "Theatrical appeal remains, but industry survival depends on retaining maturing audiences."

Soderbergh explored coexistence strategies for theaters and streamers, highlighting programming and audience engagement as critical factors.

"People still value the theatrical experience," Soderbergh noted. "Cinemas remain compelling destinations. Success hinges on sustaining older demographics' attendance - unrelated to release windows."