Netflix co-CEO Ted Sarandos noted that the golden era of movie theatres might be nearing its end.
During an interview with a news agency, Sarandos pointed to the post-pandemic surge in live events—Broadway shows, sporting events, and concerts—as proof that movie theatres are unlikely to experience a similar revival.
“Sorry, cinephiles; the post-Covid rebound of live events is all the more prevalence that movie theatres are never coming back,” Sarandos said in the interview. He emphasized that unlike movie theatres, Broadway productions and live sporting events have rebounded robustly and are currently experiencing unprecedented success.
Highlighting troubling industry data, Sarandos noted that the theatrical box office remains significantly diminished, down 40-50% from pre-Covid levels, with an additional 8% drop recorded this year alone.
Discussing content creation platforms, Sarandos also shared his view on YouTube as an initial proving ground for creators. He suggested that Netflix provides superior monetization opportunities compared to YouTube.
Still, Sarandos acknowledged the rising significance of “pro-am” creators, who independently produce engaging content without initial funding.