We wanted to share some key insights from an exclusive event that Scott Levy, President of Eastern Effects attended at The Paley Center for Media, where Ted Sarandos, Co-CEO of Netflix, discussed his inspiring journey from humble beginnings in Arizona to leading a global entertainment powerhouse.
In an engaging interview with Semafor's Co-Founder and Editor-In-Chief, Ben Smith, he reflected on his early love for film, detailing a formative 1.5-hour bus ride to watch movies.
During the discussion, Sarandos emphasized Netflix's commitment to showcasing local stories on a global scale, catering to the demand for on-demand, personalized content across platforms, and moving away from traditional linear TV. He talked about that Netflix does not include big screen theater distribution in its model, staying true to its on-demand philosophy. He also shared an anecdote about how earlier in their evolution, Netflix approached Blockbuster with the intention of selling themselves, but Blockbuster declined the opportunity. This moment of rejection fueled Netflix's innovation and growth.
Additionally, they took a significant risk with "House of Cards," acquiring it despite it not being their original property. This bold move paid off tremendously, as it positioned Netflix as a frontrunner in streaming and solidified their reputation as an original content producer. As a big Bruce Springsteen fan, Serandos also recalls how the E-Street Band’s Steven Van Zandt brought the original Lilyhammer to him. Watch this clip.
Lastly, Sarandos pointed out that Netflix has the willingness to let producers do their job, allowing them to focus on what they do best—creating compelling content akin to a ‘gourmet cheeseburger’ is what’s working for audiences right now. Have a look.
We believe these insights illustrate Netflix's strategic approach and commitment to innovation in the entertainment industry.
Netflix has been and continues to be a client of Eastern Effects —both in our stages and as a location lighting rental customer. With their nearly $1Billion investment in NJ, it's no wonder they’re the powerhouse that they are — and how they’re redefining the ever-evolving entertainment business model.