Netflix CEO Mocks Moviegoers: Theaters Are Dead!

How fear and self-loathing took over Hollywood

Netflix’s CEO gave an interview a few days ago, and made clear how much he hates movie theaters.

He insists that he’s not the only one—in the year 2025, the audience shares his loathing. They also hate going to the cinema.

Or so he thinks.

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“The theatrical box office is down 40 to 50% from pre-COVID,” he points out, “and this year is down 8% already—so the trend is not reversing. You’ve gotta look at that and say, ‘What is the consumer trying to tell you?’”

I have a different opinion. The biggest problem facing theaters isn’t the consumer—it’s Netflix.

Consider the case of Netflix’s Emilia Pérez, nominated for 13 Oscars this year. Netflix was forced to distribute it in US theaters to qualify for Academy Awards. So they released it on November 1—then they started streaming it into homes on November 13.

They have always played this game. But it’s gotten worse lately. Back in 2018, they let Roma run for three weeks in theaters. Now it’s just 13 days of limited release.

How can cinemas survive on this starvation diet?

And it’s not just Netflix. Take a look at the advice Paramount now gives to movie theater owners.

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You might as well tell them to put less butter on the popcorn.

This is simply a recipe for further decline—and eventually disappearance. Hollywood to Theaters: Drop Dead!

“The cinema is a temple where rituals play out. They are communal experiences.”

What makes this especially ironic is the fact that Paramount and other streamers have sharply raised their own subscription prices.

So their advice boils down to: Price increases for me, but not for thee.

Wall Street recognizes the futility of all this, even if Hollywood pretends otherwise. And we may have finally reached a tipping point.

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Downsizing “risks having more films skipping theatrical and going direct to streaming services,” warns analyst Doug Creutz in a new 20-page report. “And now you have all the ingredients for a negative feedback loop.”

That’s a polite way of saying that the patient will not recover.