Netflix Pledges 45-Day Theatrical Releases, Announces Ted Sarandos
Netflix is on the verge of making significant changes to its theatrical release strategy amid its prospective acquisition of Warner Bros. Discovery (WBD). In a recent interview with The New York Times, co-CEO Ted Sarandos addressed concerns regarding the future of the movie theater industry.
Commitment to 45-Day Theatrical Releases
Sarandos confirmed that, should the acquisition of WBD proceed, Netflix plans to enforce a 45-day theatrical release window for the studio’s films. He emphasized that Netflix values the theatrical experience and has no intention of undermining it.
- Netflix will implement a 45-day theatrical release window.
- Sarandos highlighted the importance of the movie theater experience.
- The commitment aims to bolster the cinema business.
Assurance to the Theater Industry
In his statements, Sarandos described the film industry’s theatrical distribution system as robust, responsible for generating billions in revenue. He noted, “If we’re going to be in the theatrical business, and we are… we want to win opening weekend.”
Despite speculation about Netflix potentially altering its release strategy, Sarandos clarified that previous comments made about theaters being “outmoded” were misinterpreted. He highlighted that accessibility to theaters varies geographically, making them less feasible for some audiences.
Industry Perspectives
Notably, Michael O’Leary, CEO of Cinema United, stated that a 45-day release period has become a vital benchmark for success in the film industry. However, the shift in Netflix’s approach raises concerns that audiences might prefer waiting for home streaming instead of visiting cinemas.
While Netflix’s commitment to traditional release windows is reassuring to some, the overall implications for cinema attendance remain uncertain. The film community watches closely as Netflix navigates its evolving relationship with theaters.
