Is Netflix actually making the cultural equivalent of billion-dollar movies?

Enola Holmes still


Netflix executives love boasting about how many people are tuning into the streamer’s original movies and TV series, but co-CEO Ted Sarandos made a comment on the company’s earnings call last night that’s left a few people puzzled.

Sarandos was talking about some of Netflix’s most popular movies, citing The Old Guard, Extraction, and basically any Adam Sandler movie Netflix releases. At one point, Sarandos said Netflix is getting “70, 80, 100 million folks turning out to watch [our] movies in their first 28 days,” and spending less on marketing than traditional studios, adding that it’s the equivalent to “a billion dollars of box office in terms of cultural impact.”

There’s a lot to unpack here, but let’s start with the idea that The…

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