The Netflix logo is seen at the Egyptian Theatre ahead of the premiere for Netflix's "Running Point," Season 2, in Hollywood on April 15, 2026.

Patrick T. Fallon | Afp | Getty Images

Netflix is making itself clear: It's a streaming-first business.

During the company's third-quarter earnings call on Tuesday, co-CEO Ted Sarandos reiterated the streaming giant's long-held stance that its content, which it spent $20 billion on last year, is meant for its subscribers and, therefore, should be delivered to customers on its streaming platform as quickly as possible.

Yet, the company is set to have 30 theatrical releases in 2027, on par with what it brought to cinemas in 2026.…