Netflix’s Ted Sarandos Says “Audiences Don’t Care About Windows,” Touts ‘Baby Reindeer,’ ‘Supacell’ for “Authentic” Britishness, Audience Focus

As a dedicated Netflix enthusiast with over a decade of binge-watching under my belt, I can’t help but feel inspired by Ted Sarandos‘ words at the Royal Television Society’s London Convention 2024. His focus on authenticity, audience engagement, and local creativity resonates deeply with me as a viewer who craves quality content that transcends borders.

Netflix’s co-CEO, Ted Sarandos, stated at a TV industry event in London that Netflix prioritizes creating original content with authentic local flavor and caters to the viewers, rather than critics or media executives.

At the Royal Television Society’s London Convention 2024, where Netflix was the main sponsor, he expressed his views about Netflix’s successful British shows during his keynote speech. Specifically, he mentioned “Baby Reindeer,” a show that recently won Richard Gadd Emmys for best actor and best writer in a limited or anthology series or movie. He emphasized how this success highlights the U.K.’s creative prowess.

In today’s streaming era, decision-making power and autonomy are crucial, as the executive contended, emphasizing that adaptability is vital for the industry. Reflecting on Netflix’s past, he mentioned they faced two main adversaries: piracy and their own DVD service. He described this transition as a difficult separation when Netflix decided to phase out its DVD business. Invoking Steve Jobs, he suggested that self-disruption is essential for growth and progress.

He added that audiences have no interest in windows whatsoever, emphasizing the industry’s requirement for continuous evolution. In casual conversations, they seldom discuss this topic.

Is it necessary for Netflix to have such a vast collection of shows and movies? This is a question often posed, and according to Sarandos, the answer is affirmative. He reasoned that catering to one specific taste range isn’t feasible due to diverse preferences. Instead, he emphasized, “you should love it all.” It turns out that fans of shows like The Crown also appreciate content such as Dolly Parton’s Heartstrings. His key takeaway: “Put the audience first.” He encourages his peers in the industry to view their roles from the standpoint of a fan, not critics or media executives.

And he argued that targeting a global audience with shows or films is the wrong approach. There really is no global audience for content per se, he said, instead urging an authentic local focus that can then travel beyond borders. Supacell and Baby Reindeer became global hits thanks to being “authentically British,” he argued. And they were commissioned by a local British team based her, he added.

Another essential point to bear in mind is that achieving success is often more about creativity and intuition rather than a systematic or mathematical process. As Sarandos stated, there’s no way for algorithms to decipher or replicate success; otherwise, Netflix would not have failures, and indeed, we do encounter them.

Netflix’s CEO, Sarandos, disclosed that they own less than a quarter of the intellectual property (IP) in their U.K. library. “The possibilities in television are immense,” he stated. “This generation seems to adore stories just as much, if not more than ever before. Our challenge is figuring out the best way to engage with them.

On Tuesday, Sarandos recalled unveiling the initial trailer for The Crown at the RTS gathering seven years back, emphasizing that the series aimed to “challenge established norms.

For quite some time now, he’s considered the U.K. as the originator of top-tier television programming. He stated that his company has poured in $6 billion here since 2000, employing more than 30,000 actors and crew members. Over a hundred productions in the U.K. have been funded by them, such as Bridgerton, Thursday Murder Club, and the latest Knives Out film. He praised the creativity and talent of the nation, its production incentives, and the educational programs for industry professionals. In his opinion, Britain has emerged as one of the finest nations for TV and movie production.

On Tuesdays, Sarandos mentioned that while he and his wife have varying tastes in content, they find joy in shared interests. Specifically, she adores “Emily in Paris,” a series they’ve both completed watching together.

12 years ago, Netflix debuted in the U.K., marking it as the initial streaming platform to back the annual RTS function. In her opening remarks, Anna Mallett, vice president of production for EMEA/U.K. at Netflix, stated this. Furthermore, she emphasized that the British entertainment sector is projected to exceed 100 billion pounds (approximately $132 billion) in value this year.

At another event held in London this summer, Greg Peters – a fellow CEO of Sarandos – highlighted that the fields of streaming, traditional broadcasting, advertising, and gaming collectively represent an opportunity for revenue exceeding $600 billion, implying there’s still significant potential for growth for Netflix. A diagram he displayed on the screen broke down this figure: $300 billion was spent on both linear and streaming subscriptions, $180 billion went towards advertising, and $140 billion was invested in gaming consumer expenditure.

Netflix surpassed Wall Street predictions during Q2 by showing robust financial growth and subscriber expansion (adding 8 million new users to reach a total of 277 million globally, as announced on July 18). However, management anticipates a slower pace of growth in the present third quarter, projecting fewer paid subscriber gains compared to the same period last year. This is partly due to the company already benefiting from its successful password-sharing policy adjustment, implemented roughly a year ago. While many Wall Street analysts felt that these results didn’t significantly alter their financial forecasts or opinions on the stock, some did raise their projected stock prices.

2024-09-17 12:25

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