Ted Sarandos of Netflix dismisses Disney CEO job as not a priority
Netflix co-CEO Ted Sarandos recently made it clear that he has no interest in taking on the role of Disney’s chief executive. Speaking at the WSJ Tech Live conference, Sarandos emphasized that the prospect of leading Disney is "not even on my mind." When asked about the possibility by Wall Street Journal editor in chief Emma Tucker, Sarandos expressed his enthusiasm for the work being done at Netflix, stating, "Honestly, I think what we are doing is so exciting."
Disney, on the other hand, is in the process of selecting a new CEO to succeed Bob Iger, with an announcement expected in early 2026. The succession process is being overseen by James Gorman, the former CEO of Morgan Stanley, who will assume the role of Disney chairman in January 2025.
At the conference, Sarandos also ruled out any aspirations for a political career, stating firmly that he is "never going to run for office." When asked about TV shows or movies he wished Netflix had produced or acquired, Sarandos mentioned FX/Hulu’s "The Bear" and Apple TV+’s "Ted Lasso" as examples. He highlighted Netflix’s success in picking up the series "Nobody Wants This" after other major studios and networks passed on it.
Regarding future plans, Sarandos mentioned Netflix’s intention to establish "50 or 60" permanent retail destinations worldwide, offering ticketed in-person experiences, shopping, and dining. The first two "Netflix Houses" are set to open in Dallas and King of Prussia, Pennsylvania, in 2025, featuring activities tied to popular Netflix franchises like "Bridgerton" and "Stranger Things."
Sarandos also discussed Netflix’s approach to generative AI tools, emphasizing their role as aids for content creators rather than replacements for human creativity. He expressed skepticism about Netflix developing its own gen-AI platform, noting that AI will primarily enhance content-recommendation systems.
In terms of acquisitions, Sarandos indicated that Netflix remains focused on organic growth rather than large-scale mergers. He emphasized the company’s commitment to its core business and its potential for further expansion.
As for Netflix’s involvement in live events, Sarandos mentioned the streaming of the Jake Paul vs. Mike Tyson boxing match and upcoming NFL games on Christmas Day 2024. While not ruling out acquiring rights to full seasons of sporting events, Sarandos highlighted the economic differences between special events and full-season rights, noting the challenges in live sports distribution.
On the topic of competition, Sarandos emphasized that each new Netflix title competes with a vast array of content. He discussed the role of social media platforms in storytelling and content creation, noting the distinct nature of user-generated content compared to Netflix’s productions.
In conclusion, Sarandos provided insights into Netflix’s ad-supported tier, revenue growth projections for 2025, and the company’s commitment to its cost-plus model of compensating TV and film talent upfront. With Netflix’s subscriber base continuing to expand and strong financial performance, the streaming giant remains focused on innovation and strategic growth in the ever-evolving entertainment landscape.
