Typically, the year’s best film is judged by how much money it makes in theaters. But 2025 is different thanks to the surprising success of KPop Demon Hunters. This animated movie primarily streamed on Netflix, and only played in theaters because Netflix decided to release a singalong version. It earned $24.6 million in just over five days – and because Netflix didn’t initially plan a theatrical release, all of that was profit.
Netflix achieved a first with KPop Demon Hunters, which became the number one film in North America. The film proved incredibly popular, becoming Netflix’s most-watched film ever, and seven of its songs stayed on the Billboard Hot 100 chart for months. It’s also received three Golden Globe nominations, including Best Animated Motion Picture, Best Cinematic and Box Office Achievement, and Best Original Song. Interestingly, despite its success on Netflix, KPop Demon Hunters was originally intended to be released by Sony.
Why Sony Missed Out on KPop Demon Hunters
The origins of KPop Demon Hunters trace back to 2021, when Sony executives were figuring out how to navigate the pandemic’s impact on movie releases. With theaters still struggling and box office numbers uncertain, Sony noticed competitors were moving to digital or combined theatrical/digital releases. Since Sony didn’t have its own streaming platform, partnering with Netflix seemed like a good solution. According to industry expert Matt Beloni of Puck News, Sony made a deal with Netflix where Netflix got first priority on certain movies and could approve them for production. Sony would then receive a pre-determined extra payment in addition to the film’s budget.
So, here’s the deal with KPop Demon Hunters. Apparently, Sony had a limit on how much extra Netflix would pay for it – capped at 25
It’s understandable to fault Sony for this choice now, but it’s easy to judge past decisions with the benefit of current knowledge. Their agreement with Netflix actually made a lot of sense when it was made, providing a steady income stream as movie theaters worldwide were recovering from the pandemic. As Beloni points out, the deal also required Sony to purchase certain films – like Lady Chatterley’s Lover and People We Meet on Vacation – that weren’t even planned for cinema release. This appeared to be a good strategy at the time, even though it hasn’t worked out as hoped after four years.
Would KPop Demon Hunters Have Been As Big at the Box Office?
During a September appearance at the Bank of America conference, Sony Pictures CEO Ravi Ahuja acknowledged the studio made a mistake by releasing KPop Demon Hunters directly to streaming. He stated that, looking back, the film has been a significant success, and its specific K-Pop theme might have attracted a theatrical audience. While acknowledging it’s impossible to know for sure, industry experts have suggested the film actually benefited from being released on streaming platforms.
Traditional animated movies haven’t performed well in theaters since the pandemic. While the Spider-Verse films have been successful, the unique, anime-inspired style of Demon Hunters generally doesn’t appeal to a wide moviegoing audience, particularly in the United States.
The main idea is that Netflix films attract viewers who don’t usually go to movie theaters, and KPop Demon Hunters found success with this audience. If this is true, the film’s success was largely due to being on Netflix, and it wouldn’t have done as well in cinemas. For Netflix’s Ted Sarandos, KPop Demon Hunters likely proves his point that people now prefer watching movies at home, rather than in theaters – a belief that’s causing concern in the film industry, especially with Netflix potentially buying Warner Bros.
I truly believe KPop Demon Hunters is a fantastic film, and its success is absolutely deserved. The creators clearly poured skill and care into it – the musical numbers are breathtaking, the animation is charming, and I really connected with the characters. Of course, no movie is a sure thing, but with a good promotional push, I think it would have really taken off at the box office. It would have built a great reputation through positive word-of-mouth, giving it staying power. It might not have been a blockbuster on the scale of some films, but I’m confident it would have been a solid success.
This is just speculation, but it’s interesting to consider. Ultimately, Sony didn’t acquire the potential blockbuster film, and Netflix secured another major franchise, especially as Stranger Things concluded its run. This couldn’t have come at a better time for Netflix, and they’re actively trying to build KPop Demon Hunter into a successful, ongoing series.
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2026-01-01 00:43