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Do We Believe Netflix Loves Movie Theaters Now?

As bids for Warner Bros. Discovery come due and exhibitors prep an antitrust challenge, Ted Sarandos has pledged to play Warners movies in theaters. Is this just a shameless wet kiss to the town and regulators, or another sign of his company’s ability to pivot?

Ted Sarandos
In meetings with talent and the media, Sarandos often notes that Netflix would love to put more movies in theaters… if only the damned theater owners would allow simultaneous releases on the service, or tiny slivers of exclusivity. Photo: Jemal Countess/Getty Images for TIME
Matthew Belloni
November 21, 2025

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If you peeked just outside the main ballroom of the Governors Awards on Sunday night, Netflix co-C.E.O. Ted Sarandos appeared to be deep in conversation with one of his chief nemeses: Eduardo Acuna, C.E.O. of the Regal Cineworld theater chain. Sarandos, of course, has spent the past decade attempting to kneecap Acuna’s business, and the windowing system that has allowed theaters to survive through the advent of television, the VHS tape, and digital downloads. Acuna has returned the favor by refusing to play most Netflix movies on his 8,000 screens worldwide.