Sony CEO regrets selling KPop Demon Hunters to Netflix after record-breaking success

New Delhi: KPop Demon Hunters became the biggest hit in Netflix’s history with 236 million views. The global hit even had a phenomenal run with its limited theatrical run and became a cultural hit, minting USD 19 million at the box office. However, Sony's CEO regrets selling the movie to Netflix. Sony produced KPop Demon Hunters and sold the distribution rights to Netflix for a direct-to-streaming release.

Speaking at Bank of America’s Media, Communications & Entertainment Conference in New York, analyst Jessica Reif Ehrlich admitted that the deal made sense. He said, “Obviously, in hindsight, it’s such a big hit. 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.”

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He further admitted that the success of the sing-along musical could be a product of Netflix’s involvement and the buzz it garnered through the streamer. He further added, “It started out on Netflix, and then word of mouth made it grow. In theatrical, that’s a lot harder to do. It’s hard to sustain momentum theatrically. So I think it was in the right home. I would say our mission is to make great content and find the right home. And I think ‘K Pop Demon Hunters” right home was Netflix. But it’s an interesting question. ‘Could it have been theatrical?’ Well, it’s hard to say. You don’t really know. It’s possible, but I don’t think it’s obvious.”

He further shared, “The goal of the deal was to make hits. One great thing about being independent is that we’re happy when our clients do well. So they did well, right?”

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Directed by Chris Appelhans and Maggie Kang, it is produced by Michelle Wong. The screenplay of the movie is written by Danya Jimenez and Hannah Mc Mechan along with Chris Appelhans and Maggie Kang.