Netflix co-CEO Ted Sarandos gets slammed for remarks on theatrical releases
3 min read
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Netflix’s co-chief executive officer Ted Sarandos recently shared that they have no plans to change their stance on the release of its movies.
Here is everything you need to know.
Netflix co-CEO Ted Sarandos’ says that they are not adopting the traditional theatrical model
Ted Sarandos recently sat down for an interview about Netflix’s first quarter earnings call on Tuesday.
Moreover, he said that the streaming giant would prefer to have ‘big new desirable content’ on its slate.
Sarandos was talking with Bank of America’s media analyst Jessica Reif Ehrlich.
He said, ‘The film division is doing great.’
The businessman added, ‘Driving folks to a theater is just not our business. We create that demand and we collect that demand on our subscription service.’
Netflix co-CEO Ted Sarandos says there’s no plans to send more Netflix films to theaters.
“Driving folks to a theater is just not our business. Having big new desirable content drives value for our members and drives value for our business.”
(Source: https://t.co/dfCBN7vszN) pic.twitter.com/pImrKp7gPj— DiscussingFilm (@DiscussingFilm) April 19, 2023Advertisement
He mentioned, ‘Having big new desirable content drives value for our members and drives value for our business. We’re really happy with the investment in film.’
Meanwhile, Sarandos’ comments are completely opposite to the strategy adopted by Netflix’s major competitors such as Apple Original Films and Amazon Studios.
If you didn’t know, both online platforms are allowing their movie offerings to have lengthy berths in cinemas.
Meanwhile, fans are concerned about whether this update might result in Netflix facing bankruptcy.
However, it is important to note that the online platform reportedly never filed for bankruptcy. But they ended up losing nearly millions of subscribers last year in 2022. It was reported to be the largest quarterly loss in the history of the firm.
Also, a report is going around online suggesting that the company is roughly $8.29 billion in debt. Hence, Sarandos’ move has raised questions among social media users about whether it is indeed pragmatic.
Fans react to Ted Sarandos’ recent comments about Netflix’s theatrical release
Many netizens took to Twitter to suggest that Netflix’s move about the theatrical release will most likely backfire.
In addition, some users stated that Sarandos is making a mistake in claiming that the real money is in the theatrical runs.
Besides that, some fans rallied against him and wondered whether this move of Netflix will put the OTT firm in ‘bankruptcy again.’
One user wrote, ‘They must really hate money.’
Another user added, ‘That’s why Martin Scorsese doesn’t like the word, “content”. It’s disrespectful to the art.’
A different user chimed in to say, ‘the problem is that few of their content is desirable.’
Someone else pointed out, ‘Only thing he’s driving is more customers away from his service.’
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