Netflix's Ted Sarandos: Skipping Theaters is Good Business

Netflix co-CEO Ted Sarandos recently backed up the streaming giant's decision to mostly forgo theatrical releases. During a call with Wall Street analysts, he explained that Netflix is primarily focused on the subscription streaming business, and it's doing quite well. Sarandos pointed out that the platform's top 10 films have each been viewed over 100 million times, making them some of the most-watched movies globally. He believes that by not making viewers wait to watch highly anticipated movies, Netflix adds value to their subscriptions. The company aims to provide filmmakers with the largest audience possible and help them create their best work. Sarandos cited examples like Netflix's numerous Best Picture nominees and blockbuster-sized hits.An analyst, Rich Greenfield, jokingly asked if films could still make a cultural impact without a theatrical release. Sarandos responded confidently, saying that Netflix can and will continue to influence culture, even if that influence starts on the streaming platform.