Los Angeles, April 24 -- The future of movies lies in streaming, according to Netflix co-CEO Ted Sarandos, who says that the streaming service is "saving Hollywood", amid the dwindling theatrical demand, sagging box office receipts and production fleeing L.A.
Making his remarks at the TIME100 Summit, Sarandos said that the streaming giant is "a very consumer-focused company. We deliver the program to you in a way you want to watch it," Deadline reported.
Referring to the declining box office, he said: "What is the consumer trying to tell us? That they'd like to watch movies at home."
Though admitting that he himself loved the traditional theatrical experience, the entrepreneur called the collective experience an increasingly "outmoded id...