Netflix plans 30 theatrical releases in 2027 despite reaffirming its streaming-first strategy, as it seeks new growth avenues amid viewership stagnation and a stock decline.
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01Summary
- 01Netflix co-CEO Ted Sarandos said the company needs better execution in the US, calling for more 'home runs' after 'solid doubles and triples'.
- 02The streamer will give Greta Gerwig's 'Narnia' a wide release with a 49-day exclusive theatrical window in February.
- 03Netflix restructured its C-suite, hiring former Disney executive Peter Rice as chief content officer and dismissing film head Dan Lin.
- 04The company laid off roughly 1,000 employees, including Lin's deputy Doug Belgrad and director of independent film Sheroum Kim.
- 05Sarandos acknowledged Netflix had lost talent by not guaranteeing wide theatrical releases, citing departures of 'Stranger Things' creators to Skydance and Disney.
02Why it matters
Netflix's theatrical push may reshape how its biggest films reach audiences and could create new revenue streams, while also helping attract top Hollywood talent to the platform.
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