How Sony’s Strategic Move to Sell ‘KPop Demon Hunters’ to Netflix During the Pandemic Became the Streaming Platform’s Biggest Blockbuster

KPop Demon Hunters has become a surprising sensation on Netflix. It’s the story of a K-pop girl group that doubles as demon hunters, and it has shattered viewing records, becoming Netflix’s most-watched movie with 236 million views in just 67 days. This surpasses the previous record held by Red Notice, which got 230.9 million views.

This film isn’t just setting streaming records. Its soundtrack has also made waves, with four songs breaking into the Billboard Hot 100’s top 10 at the same time. This is a historic event that has never occurred in the 67 years of the charts. Notably, “Golden” is sitting at number one, while “Your Idol,” “Soda Pop,” and “How It’s Done” follow closely behind.

In a recent theatrical release, Netflix experimented with a sing-along format for the film. It managed to earn an impressive $18-20 million at the box office, showing that fans are eager for communal experiences, even with the film available for streaming at home.

The success of KPop Demon Hunters has prompted Netflix and Sony to explore a sequel. This franchise may be what Netflix has been looking for—a breakout animated feature that can expand into a multi-layered universe.

The film was produced by Sony Pictures Animation at a cost of around $100 million, betting on the global appeal of K-pop and supernatural adventures. Directed by Maggie Kang and Chris Appelhans, its charming animation and catchy music have contributed significantly to its success. However, this success brings up some missed opportunities for Sony. Despite investing heavily in the film, the company is projected to earn only about $20 million in profits due to a previous distribution deal with Netflix. This arrangement guaranteed Sony returns during the pandemic but meant it wouldn’t benefit from the film’s unexpected success.

In an industry where owning intellectual property (IP) can determine long-term success, this situation highlights a crucial lesson. For context, Netflix purchased the rights to Seinfeld reruns for $465 million, while KPop Demon Hunters is an original property that has proven it can draw in global audiences and generate genuine musical hits.

Sony has openly expressed the challenges it faces in creating original franchises. The CFO mentioned the company lacks homegrown IP, which KPop Demon Hunters could have been. Now, as Netflix leverages the property for sequels and merchandise, Sony may find itself watching from afar.

While Sony takes the step to negotiate future projects, Netflix is riding high on its newfound success. The fast-paced talks for a sequel highlight how valuable this franchise could be. With so many revenue streams available—from films to music and merchandise—the future looks bright for KPop Demon Hunters on Netflix.

Overall, the growth and impact of this film show how a unique concept can strike a chord with audiences. It also reminds us of the changing landscape in entertainment, where streaming success is becoming increasingly vital, and ownership can mean everything.

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Animation,billboard,Movies,Music,Netflix,Pop Culture,Sony,South Korea