The CEO of Netflix has rubbished the idea that the streaming platform is undermining the American movie business.
Asked if Netflix has destroyed Hollywood, Ted said at the TIME100 summit: "No, we're saving Hollywood."
The 60-year-old executive suggested that the platform is actually more in tune with film fans than traditional movie studios.
Sarandos explained: "(Netflix is) a very consumer-focused company. We deliver the program to you in a way you want to watch it.
"What is the consumer trying to tell us? That they'd like to watch movies at home. I believe it (the theatrical release) is an outmoded idea, for most people - not for everybody."
Sarandos suggested that the industry landscape has changed markedly over recent years, noting that fewer and fewer people are drawn to the idea of watching a film in a cinema.
He also observed that studios, directors and film producers are having to adjust to the new landscape.
He said: "Folks grew up thinking, 'I want to make movies on a gigantic screen and have strangers watch them (and to have them) play in the theatre for two months and people cry and sold-out shows … It's an outdated concept."
What's more, Sarandos observed that streaming platforms, like Netflix, actually remove some of the logistical barriers to watching movies.
He said: "... it is - for most people, not for everybody. If you're fortunate to live enough in Manhattan, and you can walk to a multiplex and see a movie, that's fantastic. Most of the country cannot."
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