Ted Sarandos thinks Netflix is "saving Hollywood".
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strangers watch them (and to have them) play in the theatre for two months and people cry and sold-out shows … It's an outdated concept."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."