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flag Netflix co-CEO says movie theaters are outdated, citing shift to streaming and declining box office numbers.

flag Netflix co-CEO Ted Sarandos claimed the traditional movie theater model is "outdated" during an interview at the Time100 Summit, arguing that declining box office numbers reflect a shift to in-home viewing. flag Despite loving movie theaters, Sarandos emphasized Netflix's focus on adapting to viewer preferences and delivering content through streaming. flag He stated he is unconcerned with theaters' decline as long as quality films continue to be made.

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