"People from all over the country read a New York Times review now - they get the newspaper at their Starbucks," Sarandos said. "They know a (small) film will never play in their town, so they put it in their Netflix request cue [sic] right now." That creates instant demand and a growing, impatient market.
Sarandos' comments - coming during a panel on "It's Not Over Your Head: Sales Contracts and Revenue Streams" - carried weight because he also said Netflix is now reaching a larger audience for some specialty releases than theatrical distribution does.
He said his company now has 3.2 million subscribers, is growing fourfold and that its membership demographics correspond with those of art-house movies: about 55% female, college-educated, $75,000 annual income, evenly split between married and single, and 50% of its married members have children at home. And they are curious about well-reviewed independent movies that do well at festivals and major cities but don't get timely or national releases.
To meet demand, he's acquiring 6,000 titles a year and has even bought 70 films directly from filmmakers so far this year. Additionally, Netflix is starting to finance and produce indie films, to build a catalogue when it begins delivering films via the Internet. As of now, his contracts with studios would prevent delivery of many of their higher-profile films via such technology.
Because of these changes, he sees the window between theatrical release and other sources - DVD, cable, downloads - steadily narrowing for specialty films. "When it gets down to four weeks, maybe there won't even be much of a discussion about it anymore."
After his panel, Sarandos was besieged by filmmakers handing him their cards or wanting his. He was like a movie star signing autographs.
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