Director Rob Reiner says Hollywood has a technology problem

Key Points
  • Rob Reiner attributes Hollywood's declining box-office revenue to the advent of streaming.
  • The director and former actor has had talks with Amazon and Netflix, emphasizing that so long as his stories get told, he doesn't care how.
There are so many new platforms, and they pay good money: Director Rob Reiner

After a summer of declining box-office revenue, Hollywood veteran Rob Reiner revealed he's looking to the future of movies. And that means streaming.

With hits such as "When Harry Met Sally" and "A Few Good Men," the 70-year-old director should know a little something about the box office, which saw revenues plunge 14.6 percent to a dismal $2.8 billion in ticket sales from last year.

To Reiner, Hollywood's revenue problem is more technological than cultural.

"The way in which you exhibit product changes," Reiner said on CNBC's "Closing Bell" on Monday. "There was a time when DVD was a huge window and a great opportunity. Now that died out. Then, all of a sudden streaming and video on demand and all those things change."

Reiner already has a jump on the game. He didn't reveal any official plans, but said he's met with representatives from Amazon and Netflix to discuss producing content specifically for streaming.

Content for streaming sites may not pay quite as much as a traditional box office film, but Reiner said they could be an appropriate fit for some of his independent films. And so long as his stories are getting out there, he doesn't really care how.

"Everybody's making content now, which is great for people like me who like to tell stories," he said.

Reiner also owns shares of Amazon and Apple, which he said has made him "a couple bucks" over the years. But he won't be buying into Netflix quite yet.

In Reiner's latest film, "LBJ," the director spotlights President Lyndon B. Johnson prior to his signing of the Civil Rights Act. The film, which stars Woody Harrelson as LBJ, will debut Nov. 3.