Sony’s Chickening Out Comes to Haunt Them, as Netflix Boasts a Lion’s Victory With Their Second Best Movie of All Time

Sony thought it was playing it safe a few months back, but that safety net ended up slipping right through its fingers. What seemed like a smart, cautious call at the time, skipping theaters and handing a film over to Netflix, has now become one of the studio’s biggest what-ifs. Netflix, on the other hand, did not just take the said movie; it turned it into gold. The offering rocketed up the streamer’s charts and is now sitting pretty as the second-biggest title in its history. For Netflix, it turned out to be a jackpot. For Sony, it is a sting that keeps getting sharper, because the paycheck they took looks tiny compared to the glory they let go.

When Sony let fear steer the wheel, Netflix took the driver’s seat and turned a discarded film into a roaring global triumph.

Missed the big screen, conquered the digital: Netflix’s stunning Sony snub

The movie making this article is KPop Demon Hunters, the animated spectacle that became Netflix’s second most-watched film of all time, just behind Red Notice recently. The movie has pulled in a staggering 184.6 million viewers, with projections hinting it could soon claim the top spot. Originally developed at Sony as an in-house project, the studio decided to skip a theatrical rollout for the same, handing Netflix a victory that is rewiring streaming and box office expectations all at once. Naturally, Sony’s caution came at a steep cost as Puck News reveals the banner will walk away with just $20 million while Netflix now enjoys a major share of the payoff.

KPop Demon Hunters, for those unversed, blends the glitz of pop stardom with high-stakes fantasy as it follows K-pop idols Rumi, Mira, and Zoey as they double as demon hunters, shielding their fans from dark forces. Their toughest challenge emerges when a rival boy band is revealed to be demons in disguise. Beyond the dazzling visuals, the film’s soundtrack has become a phenomenon in its own right, with seven tracks charting on Spotify’s Global Top 50 and ‘Golden’ one of the tunes, soaring to number one on the Billboard Hot 100. These accomplishments have reportedly secured the expansion of the KPop Demon Hunters into a franchise.

One film turned Netflix into the talk of the town recently, yet whispers suggest its grandest chapter is only just beginning.

KPop Demon Hunters set to grow into Netflix’s biggest franchise bet

Netflix is treating KPop Demon Hunters as its very own version of Frozen, according to The Wrap. Per the outlet’s insiders, the streamer aims to maximize the film’s popularity across multiple formats with projects in the works, including two sequels to form a trilogy, a live-action adaptation, a stage musical, and even a series. A short film bridging the main features, similar to Disney’s strategy with Frozen, is also reportedly being discussed among Netflix’s creatives.

During Netflix’s second-quarter earnings call, co-CEO Ted Sarandos described KPop Demon Hunters as “a phenomenal success out of the gate.” With momentum dwarfing a Margot Robbie hit on Netflix, it is no surprise that the platform is looking to turn the movie into something bigger. The film’s record-breaking run and global chart dominance, as mentioned earlier, have proven that there is a larger audience hungry for more. Unfortunately for Sony, it not only missed out on banking on KPop Demon Hunters’ success, but it will also likely miss out on the profits the film’s future iterations bring in.

What are your thoughts on Sony not releasing KPop Demon Hunters in theaters? Let us know in the comments below.