Netflix’s co-CEO, Ted Sarandos, has presented an ambitious outlook for the film industry, positioning Netflix not merely as a disruptor but as a rescuer. Following Netflix’s announcement of an $82 billion proposal to acquire Warner Bros., Sarandos defended the streaming behemoth’s influence in Hollywood amid rising apprehensions about its effect on traditional cinema.

In a recent dialogue with Time magazine’s editor-in-chief Sam Jacobs, Sarandos was queried: “Have you destroyed Hollywood?” His assertive reply was, “No, we’re saving Hollywood.” This assertion emphasizes his conviction in Netflix’s capacity to transform the industry, creating fresh opportunities for filmmakers and viewers alike.

The intended acquisition, awaiting regulatory clearance, would amalgamate extensive entertainment assets under Netflix’s name, incorporating Warner Bros.’ vast film and television library, along with popular gaming franchises like DC’s adaptations and the Lego games. This initiative could further reinforce Netflix’s supremacy in the streaming arena, allowing it to provide an unparalleled selection of content.

Sarandos has articulated doubt regarding the future significance of movie theaters. He contends that while certain films may need to premiere in theaters for award qualification, the theater experience should not be regarded as the exclusive pathway to enjoying cinematic art. Sarandos noted, “If you’re [fortunate enough to live in] Manhattan, and you can walk to a multiplex and see a movie, that’s fantastic. Most of the country cannot.” This viewpoint has met backlash, particularly from industry stalwarts like James Cameron, who argue that a theatrical release should continue to be a foundational element of the film sector.

The prospective ramifications of Netflix’s acquisition of Warner Bros. have sparked concern among various industry players. The Directors Guild of America, headed by director Christopher Nolan, intends to convene with Netflix to express worries about the acquisition and its potential implications for filmmakers and the cinematic landscape.

The theater industry has encountered considerable obstacles since the onset of the global pandemic, affecting audiences’ inclination to attend cinemas. Should Netflix’s acquisition come to fruition, experts forecast an even larger decline in theatrical releases, as the platform may place greater emphasis on streaming over conventional viewing experiences.

As the industry deals with these transformations, it remains uncertain how Netflix’s vision for a redefined Hollywood will ultimately unfold, and whether the streaming titan can deliver on its pledge to rejuvenate the film industry while addressing the apprehensions of its detractors.