Netflix's Sarandos Aims to Build the Next Great Hollywood Studio
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If you’re an actor or producer in Hollywood, it’s hard to miss the flag Netflix has planted in Tinseltown. Its new 14-story tower is visible for miles in sprawling Los Angeles, topped by the company’s red logo. The smell of popcorn greets visitors in the lobby.
Inside, Chief Content Officer Ted Sarandos is recruiting some of TV’s most successful producers and writers. Since Netflix streamed its first original series “Lilyhammer” in 2012, the company has built one of the most valuable TV networks by buying shows from others. Now, with a $16 billion budget, Netflix aims to become the world’s largest creator of entertainment, making programs just like current suppliers including CBS Corp.
Sunday’s Emmy awards in Los Angeles offer Netflix a chance to burnish its credentials. The company has five programs nominated for top awards in drama and comedy, including the offbeat hit “Stranger Things,” a low-budget homage to Steven Spielberg and “The Goonies.” The show is the first drama made in-house, Sarandos says in an interview, and a sign of more to come.
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