Particle.news
Download on the App Store
21 ARTICLES
·
3d ago

Ted Sarandos Declares Netflix 'Saving Hollywood' and Cinemas 'Outmoded'

The Netflix co-CEO highlights consumer shifts, global growth, and the entertainment sector's marginalization in trade policy during recent high-profile summits.

Image
Ben Smith, cofounder and editor-in-chief of Semafor, and Ted Sarandos, co-CEO of Netflix, speak on stage during The Semafor 2025 World Economy Summit on April 23, 2025 in Washington, D.C.
Image
Image

Overview

  • Ted Sarandos defended Netflix's role in Hollywood, stating the company is 'saving' the industry by aligning with consumer preferences for home viewing over traditional cinemas.
  • Sarandos described theatrical moviegoing as 'an outmoded idea for most people,' emphasizing the rise of streaming as a dominant platform for content consumption.
  • Netflix announced plans to open its first 'Netflix Houses' in Dallas and King of Prussia, blending retail, dining, and branded experiences, as part of its experiential diversification strategy.
  • The executive criticized the entertainment sector's exclusion from U.S. trade priorities, despite Netflix contributing $125 billion to the U.S. economy and creating 140,000 jobs from 2020 to 2024.
  • Sarandos highlighted Netflix’s failed attempt to enter China, citing censorship barriers, and noted the company's strategic focus on non-Chinese markets to avoid tariff exposure.