At the Time100 Summit, Netflix co-CEO Ted Sarandos said the movie theater model is 'outdated' because audiences want to watch films at home.

Netflix CEO Ted Sarandos says the traditional theater experience is "outdated" for most and that audiences have made clear that they'd rather watch films at

Netflix co-CEO Ted Sarandos, while speaking at a Time 100 event, was asked if Netflix is destroying Hollywood. His reply? The streaming giant is, instead, “saving Hollywood.”