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Can movie theaters save Netflix? 'Door is open,' says trade group boss
With box offices bouncing back from the Covid-19 pandemic, movie theaters could help Netflix adapt to an uncertain future.
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Chairman of the National Association of Theatre Owners John Fithian speaks during the CinemaCon 'The State of the Industry' and Neon Studio presentation during CinemaCon 2022 at Caesars Palace on April 26, 2022 in Las Vegas, Nevada. (AFP/Greg Doherty/Getty Images)
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ohn Fithian, head of the movie theater industry's trade body, is used to shrugging off claims that Netflix will spell doom for the big-screen, popcorn-munching experience.
But with box offices bouncing back from the Covid-19 pandemic, and Netflix stock plummeting after its first loss of subscribers in a decade, Fithian predicts movie theaters could even help the streaming giant adapt to an uncertain future.
"The theater door has been open to play Netflix movies for years," Fithian told AFP at CinemaCon, the annual Las Vegas summit held by the National Association of Theatre Owners.
Fithian said he has held "lots of discussions" with Netflix content chief Ted Sarandos and "urged him to take a shot at seeing if they can also do well theatrically."
"I don't look at share prices one way or the other -- I just look at the data... you can make more money, even if you're a streamer, if you put your best movies in theaters first."
Releasing films widely on big screens before offering them to subscribers would long have seemed anathema to Netflix's wildly successful business model, which has sent the likes of Disney and Warner scrambling to catch up in the so-called streaming wars.
Netflix has revolutionized Hollywood and the way movies are consumed, splurging huge amounts to lure top stars away from the traditional studios and keep cinephiles on their couches.
