Netflix co-CEO Ted Sarandos, while speaking at a Time 100 event, was asked if Netflix is destroying Hollywood. His reply? The streaming giant is, instead, "saving Hollywood." "Netflix is a very consumer-focused company.

At the TIME100 Summit, Ted Sarandos was asked “Have you destroyed Hollywood?” And his response has left everyone shocked.

During Semafor’s World Economy Summit, Sarandos said the company still has “enormous room to grow:” > In the previous five years, we’ve doubled our revenue, we grew profits 10 times, and we grew our market cap three times.