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

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. He described Netflix as "a very consumer-focused company. We deliver the programme to you in a way you want to watch it." Declining box office takings forced the question, he…