Hollywood has undergone a remarkable transformation over the past century, adapting to changing times and technologies. A visit to the Egyptian Theatre in Los Angeles offers a glimpse into this evolution. Built in 1922, it hosted the first-ever Hollywood premiere with Douglas Fairbanks' "Robin Hood." Today, owned by Netflix, it stands as a symbol of the streaming era. The shift from grand cinematic experiences to smaller screens raises questions about the future of film-making. Industry leaders like Ted Sarandos of Netflix and Tom Rothman of Sony highlight both the challenges and opportunities this transition presents. While some lament the loss of originality, others see new possibilities for storytelling in an increasingly digital world.
Once a beacon of glamour and spectacle, the Egyptian Theatre now reflects the changing landscape of entertainment. In 1922, it witnessed the debut of "Robin Hood," marking the beginning of Hollywood's golden age. Fast forward to today, and the theatre is under the stewardship of Netflix, which invested $70 million in its renovation. This move underscores the streaming giant's commitment to preserving the magic of cinema while embracing modern viewing habits. According to Ted Sarandos, co-CEO of Netflix, the theatrical experience remains irreplaceable. He recalls his childhood memories of watching "Jaws" in a movie theater, emphasizing the unique thrill of shared audience reactions. However, with screens shrinking and ticket prices rising, such experiences are becoming less common.
The industry's shift towards predictable blockbusters and franchises has sparked debate. In 2024, all top-grossing films were sequels or reboots, reflecting a stratified market where only large-scale productions or niche independents thrive. Tom Rothman, head of Sony's motion picture group, notes the absence of mid-budget films that once offered a diverse range of original stories. Nancy Meyers, director of romantic comedies like "The Holiday," laments the loss of creative freedom that characterized earlier decades. She believes the current emphasis on superhero formulas has stifled the types of films many audiences grew up loving. Michael Schulman, a writer for The New Yorker, echoes these concerns, arguing that the focus on shareholder satisfaction has overshadowed innovation.
Despite these challenges, streaming platforms like Netflix have expanded access to films, with members watching seven movies a month compared to the average American's two visits to theaters annually. Sarandos sees this as a positive development for storytelling, reaching a global audience of 700 million viewers. He contends that the medium—whether a massive screen or a smartphone—should not diminish the power of great narratives. For Rothman and Meyers, however, the quintessential movie experience remains tied to the big screen and collective viewing. They advocate for a balance between home streaming and theatrical releases, emphasizing the importance of bold, original content that captivates audiences and transports them to new worlds.
The journey from grand theaters to pocket-sized screens illustrates Hollywood's ongoing adaptation. While some mourn the passing of an era, others find hope in the evolving landscape. The challenge lies in preserving the art of storytelling while embracing new technologies. Ultimately, the future of film depends on striking a balance between tradition and innovation, ensuring that cinema continues to inspire and entertain generations to come.