Netflix Co-CEO Ted Sarandos Discusses Theatrical Distribution and Streaming at WAVES Summit
At the World Audio Visual & Entertainment Summit (WAVES) conference in Mumbai, Netflix co-CEO Ted Sarandos sat down for a fireside chat with Bollywood star Saif Ali Khan to discuss the coexistence of theatrical distribution and streaming, particularly in India’s “fan-centric” entertainment landscape.
Sarandos’ recent comments about the outdated nature of the movie theater model sparked controversy online, with filmmaker Rian Johnson advocating for a wide theatrical release of his upcoming film. However, Sarandos clarified his stance, stating that cinemas can still thrive in certain markets, like India, where the focus is on providing content to the fans without getting bogged down in distribution debates.
Reflecting on his upbringing in a small town in Arizona, Sarandos highlighted the convenience of movie theaters in densely populated areas like Manhattan, contrasting it with the accessibility challenges faced in rural areas. He emphasized that India’s enthusiastic audience base makes it an ideal environment for both cinemas and streaming platforms to coexist harmoniously.
Netflix’s impact on the Indian entertainment industry has been significant, with $2 billion in economic contributions and the creation of 20,000 jobs across 90 cities since 2021. Indian content on the platform garnered 3 billion viewing hours globally last year, showcasing the popularity of local storytelling on a global scale.
Saif Ali Khan, known for his role in Netflix’s “Sacred Games,” praised the streaming format for allowing actors to explore characters in a deeper and more nuanced manner. He highlighted the freedom that streaming platforms offer in terms of character development, moving away from traditional formulaic constraints.
Both Sarandos and Khan emphasized the importance of authentic local storytelling in resonating with international audiences. Sarandos noted that content that stays true to its cultural roots tends to have a broader global appeal, citing examples from South Korea’s success with “Squid Game” and “Parasite.”
As India’s entertainment industry continues to evolve, Sarandos sees parallels with South Korea’s rise to prominence on the global stage. With streaming platforms providing a new avenue for distribution, Indian creators have the opportunity to showcase their unique stories to a worldwide audience, setting the stage for a potential breakthrough moment.
