Just because KPop Demon Hunters smashed at the box office doesn’t mean Netflix is suddenly turning into a movie studio. Despite the film’s surprising success on the big screen, Ted Sarandos made it clear that the streamer has no plans to shake up its release model anytime soon.
When asked during Netflix’s recent earnings call whether the company might expand its movie presence, Sarandos responded, “There is no change in strategy. Our strategy is to offer our members exclusive first-run movies on Netflix.”
KPop Demon Hunters it didn’t just become a streaming hit, it became a phenomenon. After debuting on Netflix on August 23, the animated musical reached an astonishing 400 million views, making it the streamer’s most-watched film ever.
This kind of momentum carried over to theaters when Netflix decided to test a limited “singalong” weekend release. The result? According to Box Office Mojo, a whopping $18 million worldwide haul.
Now, Sony and Netflix are teaming up again to bring the film back to theaters for an encore on Halloween weekend starting Friday, October 31st. Fans will once again be able to sing along with their favorite demon-slaying idols on the big screen.
But, even with the extra money coming in, Sarandos doesn’t buy the idea that Netflix should release films theatrically first.
In his words, the reason KPop Demon Hunters worked so well is “because it was released on Netflix first.”
When the film first came out, it wasn’t an immediate success. But once social media started filling with clips and reactions, the fandom exploded. Sarandos credited those passionate viewers with pushing the film into the stratosphere, saying that “superfans” made KPop Demon Hunters a success and “drive the recommendation engine”.
He added: “If anything, this actually strengthens our strategy, because being on Netflix has actually allowed the film to gain momentum.”
However, Netflix doesn’t completely rule out theatrical experiences. The company plans limited runs for upcoming releases as Ryan Johnson’S Wake Up Dead Man: A Mystery at Knives Out AND Guillermo del Toro’S Frankenstein before hitting the platform a couple of weeks later.
So for now Netflix’s approach remains the same…. streaming first, then theaters if that makes sense.
KPop Demon Hunters is streaming now on Netflix.
by Joey Paur
Source: Geek Tyrant
Lloyd Grunewald is an author at “The Fashion Vibes”. He is a talented writer who focuses on bringing the latest entertainment-related news to his readers. With a deep understanding of the entertainment industry and a passion for writing, Lloyd delivers engaging articles that keep his readers informed and entertained.
