On its Q3 earnings call, Netflix co-CEO Ted Sarandos reaffirmed the streamer's streaming-first strategy, even as the company plans 30 theatrical releases in 2027, on par with 2026. One test is Greta Gerwig's 'Narnia: The Magician's Nephew,' which will get a wide release and a 49-day exclusive theatrical window in February. The move comes as the stock has slumped roughly 30% since January and view hours growth has stalled, and as Netflix restructured its leadership by bringing in former Disney executive Peter Rice as chief content officer and dismissing head of film Dan Lin. Wedbush analyst Alicia Reese argues theatrical releases are a net positive for reach and streaming demand, while Citizens analyst Matthew Condon says theatrical can help build stronger IP and attract top talent. Sarandos said the business flywheel is working but U.S. execution needs to improve, and that Netflix needs more 'home runs.'
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