David Bridges
Key Insights
- Success: KPop Demon Hunters became Netflix’s biggest movie ever within a weekend.
- Deal: Sony sold the rights to Netflix, allowing the film to be completed and released on the platform.
- Impact: The film’s success raises questions about its potential performance in theaters.
- Future: Both Sony and Netflix are planning sequels, spinoffs, and live-action remakes based on the film.
The success of KPop Demon Hunters has been one of the stories of the summer. Sure, Lilo & Stitch was the highest-grossing movie at the domestic box office. Yes, Superman did well enough to launch the DC Universe. And of course, it was awesome to see an original genre film like Weapons clean up. But above all that, it’s the animated musical that became not only Netflix’s biggest movie ever but also a box office hit in a single weekend that history will look back on with most interest.
Especially since Sony sold the movie to Netflix.
It’s been well-documented, but in 2021, Sony and Netflix struck a deal where Sony sold Netflix a bunch of different projects that included KPop Demon Hunters. So, Netflix owned the rights, paid for it to be finished, and then added it to its service. Very quickly after the film’s June debut, its success and appeal became incredibly obvious. And, this week, the CEO of Sony Pictures, Ravi Ahuja, reflected back on kind of letting a massive hit out of the studio’s grasp.
“Obviously, in hindsight, it’s such a big hit,” Ahuja said at a conference reported on by the Wrap. “It was during the pandemic. It’s K-Pop-themed, very specific film. Netflix paid the whole cost, plus a profit premium. At the time, it made sense. But now you look at the success and think maybe it could have been theatrical.”
But would it have been as big a hit in theaters without its streaming lead-up? We’ve written about this, and Ahuja isn’t so sure. “It started out on Netflix, and word of mouth made it grow. In theatrical that is a lot harder to do,” Ahuja said. “I think it was in the right home. I think KPop Demon Hunters’ right home was Netflix, but it is an interesting question, could it have been theatrical? It is hard to say. It’s possible but I don’t think it’s so obvious.”
What’s even less obvious now is how the companies will deal with the fallout: the success of the soundtrack, inevitable sequels, spinoffs, and live-action remakes. All of it is in the works, and both Sony and Netflix will be involved in some way.
KPop Demon Hunters is streaming on Netflix, as if you didn’t know.
Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.
Daniel Mercer
