Theodore Anthony Sarandos Jr. is an American businessman who serves as the co-
chief executive officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
and
chief content officer
A chief content officer (CCO) is a corporate executive responsible for the digital media creation and multi-channel publication of the organization's content (text, video, audio, animation, etc.).
The CCO is usually an executive role or senior v ...
for
Netflix
Netflix, Inc. is an American subscription video on-demand over-the-top streaming service and production company based in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, it offers a fil ...
.
Early life
Sarandos was born in
Phoenix
Phoenix most often refers to:
* Phoenix (mythology), a legendary bird from ancient Greek folklore
* Phoenix, Arizona, a city in the United States
Phoenix may also refer to:
Mythology
Greek mythological figures
* Phoenix (son of Amyntor), a ...
,
Arizona
Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...
. His father was Ted Sarandos Sr, an electrician, and his mother was a stay-at-home mom. He is the fourth of five children, with three older sisters and a younger brother.
Sarandos' paternal grandfather came from the Greek island of
Samos
Samos (, also ; el, Σάμος ) is a Greek island in the eastern Aegean Sea, south of Chios, north of Patmos and the Dodecanese, and off the coast of western Turkey, from which it is separated by the -wide Mycale Strait. It is also a separate ...
to the United States as a young boy. His grandfather's family name was originally Kariotakis but he changed it to Sarandos.
As a child, Sarandos spent hours watching TV shows like ''
I Love Lucy
''I Love Lucy'' is an American television sitcom that originally aired on CBS from October 15, 1951, to May 6, 1957, with a total of 180 half-hour episodes, spanning six seasons. The show starred Lucille Ball, her husband, Desi Arnaz, along with ...
'', ''
The Jack Benny Program
''The Jack Benny Program'', starring Jack Benny, is a radio-TV comedy series that ran for more than three decades and is generally regarded as a high-water mark in 20th century American comedy. He played one role throughout his radio and televis ...
'' and ''
The Andy Griffith Show
''The Andy Griffith Show '' is an American situation comedy television series that aired on CBS from October 3, 1960, to April 1, 1968, with a total of 249 half-hour episodes spanning eight seasons—159 in black and white and 90 in color.
The ...
''. He stated that his family did not travel much "so the way to see the world was through books and movies and television." In his teens, he developed a knowledge of film and TV, and strong instincts for what people liked while working at a video store. While writing for his high school newspaper, Sarandos met and interviewed the actor
Ed Asner
Eddie Asner (; November 15, 1929 – August 29, 2021) was an American actor and former president of the Screen Actors Guild. He is best remembered for portraying Lou Grant during the 1970s and early 1980s, on both ''The Mary Tyler Moore Show'' an ...
, who was in Phoenix for a local
Screen Actors Guild
The Screen Actors Guild (SAG) was an American labor union which represented over 100,000 film and television principal and background performers worldwide. On March 30, 2012, the union leadership announced that the SAG membership voted to m ...
meeting. Asner, then in the height of his ''
Lou Grant
Lou Grant is a fictional character played by Ed Asner in two television series produced by MTM Enterprises for CBS. The first was ''The Mary Tyler Moore Show'' (1970–1977), a half-hour light-hearted situation comedy in which the character was ...
'' period, introduced Sarandos to others in the entertainment industry, for further interviews and connected his interests in entertainment, politics, and journalism.
Sarandos attended
Glendale Community College in
Glendale Glendale is the anglicised version of the Gaelic Gleann Dail, which means ''valley of fertile, low-lying arable land''.
It may refer to:
Places Australia
* Glendale, New South Wales
** Stockland Glendale, a shopping centre
*Glendale, Queensland, ...
,
Arizona
Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...
.
He was promoted to store manager of the Arizona Video Cassettes West chain in 1983 and managed eight retail video stores until 1988.
[ In 1988, Sarandos became Western Regional Director of Sales and Operations for one of the largest video distributors in the United States, East Texas Distributors (ETD). Until March 2000, Sarandos was Vice President of Product and Merchandising for the almost 500 store chain, Video City/West Coast Video.] While at West Coast Video, he was responsible for negotiating revenue deals to migrate the company from the VHS format into the DVD
The DVD (common abbreviation for Digital Video Disc or Digital Versatile Disc) is a digital optical disc data storage format. It was invented and developed in 1995 and first released on November 1, 1996, in Japan. The medium can store any kin ...
format.
Netflix
After meeting Netflix CEO Reed Hastings
Wilmot Reed Hastings Jr. (born October 8, 1960) is an American billionaire businessman. He is the co-founder, chairman, and co-chief executive officer (CEO) of Netflix, and sits on a number of boards and non-profit organizations. A former member ...
in 1999, Sarandos joined Netflix
Netflix, Inc. is an American subscription video on-demand over-the-top streaming service and production company based in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, it offers a fil ...
in 2000. He serves as its Co-Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
and Chief Content Officer
A chief content officer (CCO) is a corporate executive responsible for the digital media creation and multi-channel publication of the organization's content (text, video, audio, animation, etc.).
The CCO is usually an executive role or senior v ...
, overseeing Netflix's original programming and entertainment efforts. He is also a member of
the Peabody Award
The George Foster Peabody Awards (or simply Peabody Awards or the Peabodys) program, named for the American businessman and philanthropist George Peabody, honor the most powerful, enlightening, and invigorating stories in television, radio, and ...
s board of directors, which is presented by the University of Georgia's Henry W. Grady College of Journalism and Mass Communication
The Grady College of Journalism and Mass Communication is a constituent college of the University of Georgia in Athens, Georgia, United States. Established in 1915, Grady College offers undergraduate degrees in journalism, advertising, public re ...
.
Sarandos was responsible for initiating the first round of original programming at Netflix, starting with ''Lilyhammer
''Lilyhammer'' is a crime comedy-drama television series starring Steven Van Zandt about a former New York-based gangster named Frank "The Fixer" Tagliano trying to start a new life in isolated Lillehammer, Norway. The first season premiered on ...
,'' and then continuing with the breakout David Fincher
David Andrew Leo Fincher (born August 28, 1962) is an American film director. His films, mostly psychological thrillers and biographical dramas, have received 40 nominations at the Academy Awards, including three for him as Best Director. Fin ...
series starring Kevin Spacey
Kevin Spacey Fowler (born July 26, 1959) is an American actor. He began his career as a stage actor during the 1980s, obtaining supporting roles before gaining a leading man status in film and television. Spacey has received various accolades ...
, ''House of Cards
A house of cards (also known as a card tower or card castle) is a structure created by stacking playing cards on top of each other, often in the shape of a pyramid. "House of cards" is also an Expression (language), expression that dates back to ...
.'' Beginning with ''House of Cards,'' which was bought for $100 million in a March 2011 deal, Sarandos created the model where Netflix purchases multiple seasons of shows without pilot orders. Sarandos sees the focus as being on subscriber growth as a reflection of revenue health over ratings. This has since changed as Netflix has recently decided to initiate an Ad-Supported model which allows the users to pay a lower price but have advertisements on their site, this was also believed to be the work of Ted Sarandos.
Sarandos uses algorithm
In mathematics and computer science, an algorithm () is a finite sequence of rigorous instructions, typically used to solve a class of specific Computational problem, problems or to perform a computation. Algorithms are used as specificat ...
s at Netflix to predict what programs viewers will want to watch prior to producing them.[ His personal algorithm focuses on 30% judgement (as a highest priority), with 70% focused on a base of data.] He also said that the focus is on the audience, and that there is no programming grid – or appointment linear-based television – that is typically used by traditional TV networks. Barometers of success are if the audience completes watching the show, the timeframe within which they finish watching a series if there is social media buzz by critics and fans. Sarandos said that the preference is for a show to run for multiple seasons and build a fan base. Sarandos believes the model allows the viewer to be in control, and to watch only the content they enjoy. The more serialized the show is, the longer the revenue stream. Sarandos sees cost per hour basis as greater the more total run time there is across the lifetime of a show, as it is often not cost savings to produce less original content once production is underway.[
Sarandos said the comparison of TV network ratings to Netflix isn't meaningful as the typical Netflix release model of pushing out content is full season availability at once. No advertising means there's no need for typical ratings. He said Netflix aggregates audiences over a very long period of time, where Netflix can tell if a show will be successful by using a ]regression model
In statistical modeling, regression analysis is a set of statistical processes for estimating the relationships between a dependent variable (often called the 'outcome' or 'response' variable, or a 'label' in machine learning parlance) and one o ...
s that tells Netflix, based on the first hour of viewing, how successful the show will be over the life of its license.
Sarandos has been outspoken about discarding or not holding important traditional network models. Although historically a big broadcast TV fan, he describes the model as now becoming archaic. Sarandos sees the new model as a way to prioritize the needs and desires of the consumer. Part of this is the refusal to release ratings and metrics of viewership. International reach and long tail
In statistics and business, a long tail of some probability distribution, distributions of numbers is the portion of the distribution having many occurrences far from the "head" or central part of the distribution. The distribution could involv ...
, niche appeal is also an important part of the business model. The spend is typically a large upfront payment, with no back-end fees to talent and creators, especially of original content that Netflix owns. Sarandos said that he sees the Netflix brand as being based on personalization, that it was a deliberate choice on the part of Netflix to focus on providing diverse content that would appeal to the tastes of a broad base of viewers. One that would not be focused on a marquee show that Netflix would be known for, but quality shows that would appeal to different audiences.[
Sarandos sees Netflix as a digital product, where the balance between distributing physical bits of content versus streaming digital content would be cheaper as both broadband and Netflix grew, i.e. postal economics vs. streaming economics. This was something that Sarandos said he and his team was closely analyzing at a micro fiscal level. The shift away from the DVD business comes from this evaluation of new model focused on streaming and includes original programming, which is one of the main responsibilities of Sarandos' work at Netflix.]
Sarandos set up a multi-picture deal with Adam Sandler
Adam Richard Sandler (born September 9, 1966) is an American comedian, actor, screenwriter, producer and singer. He was a cast member on ''Saturday Night Live'' from 1990 to 1995, before going on to star in numerous Hollywood films, those of wh ...
, which was met with criticism. In defense, Sarandos said that the numbers make sense, something he characterizes as "data-influenced intuition," and that Sandler has a global appeal. Sarandos characterized Sandler's 2015 film ''The Ridiculous 6
''The Ridiculous 6'' is a 2015 American Western action comedy film directed by Frank Coraci and written by Tim Herlihy and Adam Sandler, and starring Sandler, Terry Crews, Jorge Garcia, Taylor Lautner, Rob Schneider, and Luke Wilson. As Happy Ma ...
'' as successful, saying it garnered the highest number of Netflix viewers streaming a film within the first 30 days of its release.
During the 2016 Television Critics Association
The Television Critics Association (TCA) is a group of approximately 200 United States and Canadian television critics, journalists and columnists who cover television programming for newspapers, magazines and web publications. The TCA accepts app ...
presentation, Sarandos said he expects the amount Netflix spends on original programming to rise considerably. In terms of volume, Sarandos said that Netflix will be showing over 600 hours of original programming in 2016.[
In 2020, Netflix announced Sarandos as its co-chief executive officer and member of the company's board of directors. Hastings had referred to Sarandos as his partner in running Netflix in previous years, specifically on film and TV production.
In 2022, Sarandos was named "Entertainment Person of the Year" at the ]Cannes Lions International Festival of Creativity
The Cannes Lions International Festival of Creativity (formerly the International Advertising Festival) is a global event for those working in creative communications, advertising, and related fields. It is considered the largest gathering of the ...
in recognition for his work in entertainment marketing and communications.
Honors
Under his leadership, the company received 54 Primetime Emmy Awards nominations in 2016.
* 2008: Aspen Institute
The Aspen Institute is an international nonprofit organization founded in 1949 as the Aspen Institute for Humanistic Studies. The institute's stated aim is the realization of "a free, just, and equitable society" through seminars, policy programs ...
– Henry Crown Fellow
* 2010: ''The Hollywood Reporter
''The Hollywood Reporter'' (''THR'') is an American digital and print magazine which focuses on the Cinema of the United States, Hollywood film industry, film, television, and entertainment industries. It was founded in 1930 as a daily trade pap ...
'' – "Digital Power 50"
* 2012: ''The Hollywood Reporter
''The Hollywood Reporter'' (''THR'') is an American digital and print magazine which focuses on the Cinema of the United States, Hollywood film industry, film, television, and entertainment industries. It was founded in 1930 as a daily trade pap ...
'' – "Digital Power 50"
* 2013: ''Time
Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to ...
'' – Time 100
''Time'' 100 (often stylized as ''TIME'' 100) is an annual listicle of the 100 most influential people in the world, assembled by the American news magazine ''Time''. First published in 1999 as the result of a debate among American academics, po ...
* 2014: Simon Wiesenthal Center
The Simon Wiesenthal Center (SWC) is a Jewish human rights organization established in 1977 by Rabbi Marvin Hier. The center is known for Holocaust research and remembrance, hunting Nazi war criminals, combating anti-Semitism, tolerance educat ...
– Humanitarian Award
* 2015: International Documentary Association
International Documentary Association (IDA), founded in 1982, is a non-profit 501(c)(3) that promotes nonfiction filmmakers, and is dedicated to increasing public awareness for the documentary genre. Their major program areas are: Advocacy, Filmm ...
– Pioneer Award
* 2015: ''The Hollywood Reporter
''The Hollywood Reporter'' (''THR'') is an American digital and print magazine which focuses on the Cinema of the United States, Hollywood film industry, film, television, and entertainment industries. It was founded in 1930 as a daily trade pap ...
'' – "Silicon Beach Power 25"
* 2015: NAPTE – Brandon Tartikoff Legacy Award
* ''Variety
Variety may refer to:
Arts and entertainment Entertainment formats
* Variety (radio)
* Variety show, in theater and television
Films
* ''Variety'' (1925 film), a German silent film directed by Ewald Andre Dupont
* ''Variety'' (1935 film), ...
'' – "Global 5"
* ''The Hollywood Reporter
''The Hollywood Reporter'' (''THR'') is an American digital and print magazine which focuses on the Cinema of the United States, Hollywood film industry, film, television, and entertainment industries. It was founded in 1930 as a daily trade pap ...
'' – "Indie Power 50"
* The Harvard Lampoon
''The Harvard Lampoon'' is an undergraduate humor publication founded in 1876 by seven undergraduates at Harvard University in Cambridge, Massachusetts.
Overview
The ''Harvard Lampoon'' publication was founded in 1876 by seven undergraduates ...
– Honorary Member
* Cannes Lions International Festival of Creativity
The Cannes Lions International Festival of Creativity (formerly the International Advertising Festival) is a global event for those working in creative communications, advertising, and related fields. It is considered the largest gathering of the ...
- 2022 Entertainment Person of the Year
Board and advisory work
Sarandos is a member of many boards.[
* Chair of the ]Academy Museum of Motion Pictures
The Academy Museum of Motion Pictures is a museum in Los Angeles, California constructed by the Academy of Motion Picture Arts and Sciences (AMPAS), which is devoted to the history, science, and cultural impact of the film industry. It is the f ...
(2020)
* Academy of Television Arts & Sciences
The Academy of Television Arts & Sciences (ATAS), also colloquially known as the Television Academy, is a professional honorary organization dedicated to the advancement of the television industry in the United States. It is a 501(c)(6) non-prof ...
, Executive Committee Appointee (2015), Member
* Digital Entertainment Group, Retail Advisory Board
* Exploring The Arts, Board of Trustees
* International Documentary Association
International Documentary Association (IDA), founded in 1982, is a non-profit 501(c)(3) that promotes nonfiction filmmakers, and is dedicated to increasing public awareness for the documentary genre. Their major program areas are: Advocacy, Filmm ...
, Trustee
* Los Angeles Greek Film Festival, Advisory Board
* Los Angeles Film Festival
The LA Film Festival was an annual film festival that was held in Los Angeles, California, and usually took place in June. It showcased independent, international, feature, documentary and short films, as well as web series, music videos, episod ...
Film Independent, Film Advisory Board
* MediaRights.org, Board of Directors
* Tribeca Film Festival
The Tribeca Festival is an annual film festival organized by TriBeCa Productions, Tribeca Productions. It takes place each spring in New York City, showcasing a diverse selection of film, episodic, talks, music, games, art, and immersive progra ...
, Film Advisory Board
* Video Software Dealers Association
The Entertainment Merchants Association (EMA) is the not-for-profit international trade association dedicated to advancing the interests of the $32 billion home entertainment industry.
The Mission of EMA is to promote, to protect, and to p ...
, Former Chapter President & Board Member
* American Film Institute, Board of Trustees
Personal life
Sarandos married Michelle Sarandos, his first wife, with whom he had two children, both graduates of Beverly Hills High School
Beverly Hills High School (usually abbreviated as Beverly or as BHHS) is the only major public high school in Beverly Hills, California. The other public high school in Beverly Hills, Moreno High School, is a small alternative school located on B ...
. In 2009, Sarandos married former United States Ambassador to the Bahamas
The Ambassador Extraordinary and Plenipotentiary of the United States of America to the Bahamas, usually simply called U.S. Ambassador to the Bahamas, is an official position and title appointed by the president of the United States and confirmed ...
(2009–2011), Nicole Avant
Nicole A. Avant (born March 6, 1968) is an American producer and political activist. She served as the United States Ambassador to the Bahamas from 2009 to 2011.
Biography Early career
Nicole Avant is the daughter of Clarence and Jacqueline A ...
, the daughter of former Motown
Motown Records is an American record label owned by the Universal Music Group. It was founded by Berry Gordy Jr. as Tamla Records on June 7, 1958, and incorporated as Motown Record Corporation on April 14, 1960. Its name, a portmanteau of ''moto ...
Chairman Clarence Avant
Clarence Alexander Avant (born February 25, 1931) is an American music executive, entrepreneur, and film producer, who also went by the name of "The Black Godfather".
Avant's 75th birthday was celebrated by ''Billboard'' in its February 2006 is ...
.[ The couple live in the ]Hancock Park
Hancock Park is a city park in the Miracle Mile section of the Mid-Wilshire neighborhood in Los Angeles, California.
The park's destinations include the La Brea Tar Pits; the adjacent George C. Page Museum of La Brea Discoveries, which display ...
neighborhood of Los Angeles
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...
, after previously living in Avant's home town of Beverly Hills
Beverly Hills is a city located in Los Angeles County, California. A notable and historic suburb of Greater Los Angeles, it is in a wealthy area immediately southwest of the Hollywood Hills, approximately northwest of downtown Los Angeles. Bev ...
, California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
. In 2013, the couple purchased a beach house formerly owned by David Spade
David Wayne Spade (born July 22, 1964) is an American actor, stand-up comedian, television host, and writer. He was a cast member on ''Saturday Night Live'' in the 1990s, and he later began an acting career in both film and television. He also s ...
in Malibu, California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...
. Sarandos has said he is Catholic
The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a ...
.
Sarandos and his wife held a fundraiser for President Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party (United States), Democratic Party, Obama was the first Af ...
's 2012 campaign in Southern California in 2009, and raised over $700,000 for the Democratic candidate. This relationship was instrumental in getting the couple to sign a multiyear deal to produce series and films for the video service. Following the deal's announcement, some subscribers posted subscription cancellation screenshots on Twitter.
References
External links
*
{{DEFAULTSORT:Sarandos, Ted
Living people
Businesspeople from Phoenix, Arizona
American people of Greek descent
Catholics from Arizona
Catholics from California
Entertainment industry businesspeople
Netflix people
Henry Crown Fellows
Year of birth missing (living people)