Netflix CEO Says Streaming Company ‘Saved Hollywood’ As Stock Hits New All-Time Highs – Netflix (NASDAQ:NFLX)

Netflix Inc NFLX co-CEO Ted Sarandos didn’t hold back when asked whether his company has destroyed Hollywood during an interview where he was honored as a member of the Time100 Most Influential People.

Here’s what Sarandos said and where Netflix could be headed next.

What Happened: Fresh off of Netflix’s first-quarter financial results, Sarandos shared a look at how Netflix has changed the movie and entertainment sectors and what’s next.

Sarandos said Netflix “saved Hollywood” when asked whether his company “destroyed Hollywood.”

“We deliver the program to you in a way you want to watch it,” Sarandos said at the Time100 event.

Sarandos argued that many Netflix customers may not have easy access to movie theaters, and for them, Netflix is the movie service of choice.

The Netflix CEO said the traditional movie theater experience might be old.

“I believe it is an outmoded idea, for most people – not for everybody.”

Sarandos said declining box office revenue could be the result of consumers telling us that they would prefer to watch movies at home via streaming platforms.

Read Also: Netflix ‘Playing Offense’ While Stock Plays Defense: 6 Analysts On Q1 Results, Advertising Growth Ahead

What’s Next: The comments from Sarandos came after he spoke at Semafor’s World Economy Summit earlier Wednesday.

The Netflix CEO said the company has contributed $125 billion in value and created over 100,000 jobs since 2020.

He said the entertainment sector is “overlooked” and “kind of thrown under the bus in trade deals.”

Later in the day, Sarandos clarified his comments to mean that free trade agreements with countries sometimes include an exception for the entertainment sector, with a minimum investment obligation needed.

“What I was saying is, it’s often that the entertainment industry doesn’t get treated like a real business and that’s one of the examples of it.”

The Netflix CEO said he is optimistic about the company growing to become a $1 trillion company, with growth coming from streaming and expanding into sectors like entertainment experiences, live content, video podcasts and consumer products.

NFLX Price Action: Netflix stock is up 4.3% to $1,095 on Thursday versus a 52-week trading range of $544.25 to $1,100.25, hitting the new high earlier in the trading session. Netflix stock is up 23.5% year-to-date in 2025.

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