Movie theatres are strangling the movie business: Netflix CEO

Netflix CEO Reed Hastings has said that movie theatres are “strangling the movie business” and the state of film is a “real tragedy”.

According to a report by Business Insider, Hastings made the comments at The New Yorker’s Tech Fest.

He said there has been no innovation in the movie theatre business in recent years, while TV has shown strong growth.

The report stated that Netflix wants to see movies distributed to homes and theatres, but movie studios which go against big theatres will “get killed”.

He said the “bad dynamic” of movie theatres having this power over studios needed to change.

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Movie theatres are strangling the movie business: Netflix CEO