Netflix Shifts Strategy with Theatrical Releases: A Major Pivot

Netflix has made a significant change in strategy, shifting from focusing solely on streaming to entering the theatrical release market. In 2022, co-CEO Ted Sarandos stated that the company's goal was to make movies for its members, but by May 2023, he called theatrical distribution "an outmoded idea." However, in October 2023, Sarandos revealed that the company's new goal is to provide members with exclusive first-run movies on Netflix. This change in strategy marks a significant departure from the company's previous focus on streaming only.