On the one hand, Sony Pictures should be happy because they undoubtedly have the biggest successful film of the summer. No, we are not talking about “Lilo & Stitch” or even “Superman”. We are talking about “Kpop Demon Hunters”, which has been tearing it away from Netflix streaming cards for weeks now. On the other hand, as mentioned, all this success fell on the shoulders of Netflix, Sony obtaining a surprisingly small sum – relatively speaking – for having generated such massive success.
According to Puck News, even if “Kpop Demon Hunters”, director Maggie Kang and Chris Appehans, is from Sony Pictures as the original studio, they only receive $ 20 million with Netflix without obligation to pay additional fees. Thanks to an agreement between the studio and the streamer, Netflix assumes the share of the lion of the production budget of $ 100 million. Sony had cold feet and feared that the big bet would not be paid if they released it in the rooms.
On Netflix, however, the film exploded. He accumulated 184.6 million amazing viewers, becoming the second most watched film in the company behind “Red Opinion”. He should take first place in the coming weeks. It is an amazing achievement, to put it slightly. Ironically, “Kpop Demon Hunters” obtains an outing limited to singing in theaters thanks to its success on Netflix.
The film focuses on the superstars of K-Pop Rumi, Mira and Zoey, who use their secret identities as a demon hunters to protect their fans from supernatural threats. Together, they have to face their biggest enemy to date, a group of rival boys made up of disguised demons.
Sony apparently has lost a fortune with Kpop demon hunters
Now, 20 million dollars have nothing to sneeze, but as Puck underlines, Sony is the only big studio not to be released from film this summer which has erased $ 500 million at the box office. His great success was “28 years later”, which exceeded $ 150 million. Although it is impossible to say what would have happened if Sony had launched the dice on it without going to Netflix as a financial partner, it is sure to say that there was a major increase in a complete theatrical version. $ 20 million is nothing compared to what his film will generate long -term.
The soundtrack alone has seven songs in the top 20 of the world top 50 Spotify, with “Golden” reaching the n ° 1 of the Billboard Hot 100 table. Between inevitable consequences, spin-offs, goods and musical rights, it is not crazy to think that it will become a franchise of $ 1 billion at a given time. This is why these 20 million dollars seem so small retrospectively. These two “red notice” suites that have been promised to us never occurred. Rest assured, “Kpop Demon Hunters” will get a suite.
To this end, Sony has the right to produce consequences or fallout, with negotiations currently underway for follow -up. Unfortunately, the studio will not make an additional money from the success of the first. They are fortunate to publish it in China, but the Chinese box office is not what it was for Hollywood Productions. Netflix also has no obligation to renegotiate his agreement with Sony on future films. The agreement is what it is.
At a time when the box office is on an uncertain terrain, especially with regard to original films, it is not difficult to see why Sony has blinked here. At the same time, family films have made the most coherent bank. This could have generated a new franchise for Sony which could thrive for the coming years. Instead, Netflix will obtain the share of the credit lion, and Sony will lose its costs and nothing more. Maybe this can serve as an edifying story for the future of Hollywood. Risk mitigation can be intelligent, but bet small and you will gain small.
“Kpop Demon Hunters” is now in difficulty on Netflix.
