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Netflix CEO Says Movie Theaters Are Dead
“The theatrical box office is down 40 to 50% from pre-COVID, and this year is down 8% already, so the trend is not reversing.”
Sorry, cinephiles: The post-Covid rebound of live events is all the more evidence that movie theaters are never coming back, Netflix co-CEO Ted Sarandos told me in an interview at the Paley Center for Media Friday. “Broadway’s breaking records right now, sporting events, concerts, all those things that we couldn’t do during COVID are all back and bigger than ever. The trades picked up Sarandos’ line on Amazon’s Melania Trump doc (“For $40 million, I hope it’s great!”) and his denial that the president has had a chilling effect on programming.
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