With more than 40 million U.S. subscribers, Netflix is among the growing segment of streaming services and other media that is changing movie viewing habits of many Americans.

Hollywood has long known that moviegoers love a blockbuster.

But those must-see films — with their eye-popping special effects, edge-of-your-seat storylines and A-list casting — may not be spending as much time in theaters before too long.

The proliferation of smartphones, tablets and other devices capable of displaying media at increasingly higher resolutions — along with streaming services like Netflix, Hulu and Amazon Prime — is changing the experience for many movie fans. And it’s causing producers and distributors to rethink the way they do business.

“We are still a very heavy theatrical market,” said Joanna Sylek, senior research analyst at the Independent Film and Television Alliance. “But for a lot of studios, their number of films have decreased. Instead of seeing maybe 25 films a year, they might only be focusing on maybe 12 or so that they really believe in.”

And those films could very well spend less time on the big screen at the local megaplex. At least that’s a vision held by DreamWorks Animation CEO Jeffrey Katzenberg, who recently told Variety magazine that the distribution model of many feature films will become “pay by the inch you watch.”

“A movie will come out and you will have 17 days — that’s exactly three weekends — which is 95 percent of the revenue for 98 percent of movies,” Katzenberg said during the Milken Global Conference in Beverly Hills. “On the 18th day, these movies will be available everywhere ubiquitously and you will pay for the size. A movie screen will be $15. A 75-inch TV will be $4. A smartphone will be $1.99. That enterprise will exist throughout the world. When that happens — and it will happen — it will reinvent the enterprise of movies.”

If Katzenberg’s prediction comes to fruition, some believe that independent films will gain even more prominence.

“I don’t think anyone’s naive to the fact that (portable devices) are how people are consuming content nowadays,” Sylek said. “I think that those (studios) that are more flexible with marketing and distribution will be more effective.”

But for many, getting a first look at a highly anticipated movie on the big screen remains a unique experience, and movie theater owners are quick to point out that 2015 — highlighted by the $208 million opening weekend haul for “Jurassic World” — is shaping up to be another record-setting year in terms of attendance.

“Obviously there are more entertainment options than ever before,” says Ryan Noonan, spokesperson for AMC Theatres, one of the largest theater chains in the country. “But getting to see ‘Fast and Furious’ or ‘The Avengers’ on the big screen for the first time — that’s an experience that you’re not going to find on a phone or tablet or anything like that.”

Noonan says that while mobile media devices and streaming services offer an element of convenience, theaters are trying to “keep up with the times” by offering more amenities like reserved seating, online ticketing and more varied menu options.

“They’re all adding up into this incredible moviegoing experience that we’re seeing great feedback from,” he said. “People are coming out in huge numbers, and they’re coming out for the blockbusters and for some of the smaller films. We feel pretty good about what we’re doing to bring people into the movie theater.”

As digital media continues to evolve, however, Noonan says the shift envisioned by Katzenberg merits consideration, especially in terms of production budgets.

But many movie buffs, while acknowledging that change is inevitable, are still convinced that theaters will retain a prominent role in Americans’ entertainment habits.

“I am confident that there will always be a perceived value in the shared experience, which hopefully translates into a continued need for cinemas of some form,” said Jon Vickers, director of the Indiana University Cinema. “The content and delivery method may continue to change, but a communal experience will hopefully remain.”