Netflix chief Ted Sarandos says cinemagoing is ‘outmoded’ and the streamer is ‘saving Hollywood’

The executive told business summit that most people no longer want cinemas and we deliver the programme to you in a way you want to watch it'

Ted Sarandos, the co-CEO of Netflix, has defended his company's reputation, saying the streamer is saving Hollywood" by securing an audience for content which would otherwise disappear.

Speaking at the TIME100 summit in New York on Wednesday, Sarandos said Netflix was providing a much-needed service to those people - for instance in rural areas - who are keen to see films, but without the means of going to a cinema.