Netflix’s Theatrical Strategy ‘Has Evolved,’ Ted Sarandos Says

Ted Sarandos, co-CEO of Netflix, addressed the streaming giant's approach to theatrical exhibition during their 2026 Q3 earnings call on Tuesday. He clarified that Netflix's core remains a streaming-first business, but they carefully consider each film when determining its release plan, taking into account the film itself, its audience, and the filmmaker.

For 2026, Netflix plans to release approximately 30 films theatrically, similar to their approach last year. Most of these theatrical releases will be limited, taking place in a small number of theaters for a couple of weeks before the film becomes available on Netflix. However, not all films follow this pattern. Sarandos emphasized that they aim to serve movie lovers best and consider how to do so without negatively impacting Netflix's value to its members.

He provided examples, such as the historical epic "La Bola Negra" and the Peter Berg-directed film "The Mosquito Bowl," which will have smaller theatrical releases. Additionally, he mentioned the new David Fincher film "The Further Mis-Adventures of Cliff Booth," directed by Fincher and starring Brad Pitt, which will have a two-week Imax exhibition.

For "big family films," such as Greta Gerwig's "Narnia: The Magician's Nephew" and the animated "Charlie vs. the Chocolate Factory," Netflix plans to have wide theatrical releases due to the films' significant global IP and fanbase. Sarandos did not disclose reasons for not giving wider theatrical releases to other family films, such as Netflix Animation Studios productions "Steps" and David Bird's "Ray Gunn."

He highlighted that Netflix now reports box office grosses for their theatrical releases, with "La Bola Negra" achieving a second-highest per-screen average for a non-English language film in the United States. Sarandos expressed excitement about Netflix's current position and their future plans, stating that they will reassess the situation in about six months.