Netflix Gets Its First Theatrical Hit With KPop Demon Hunters

Netflix’s surprise anime hit, KPop Demon Hunters, is now a theatrical hit for the theatrically-averse streamer, unofficially debuting at the top of the box office.

The Big Picture: After just two months, KPop Demon Hunters is on track to become Netflix’s most-watched English-language movie, with over 200 million views and counting. A theatrical release was icing on the cake, giving its rabid online fanbase a reason to gather IRL and market a new sing-along version.

Behind The Scenes: Despite being the biggest movie at the box office this weekend, Netflix told theaters not to report grosses.

That doesn’t mean people didn’t find out anyway:

• The sing-along version raked in $18 million to $20 million from 1,700 North American locations in an exclusive two-day release — an even wilder feat considering AMC didn’t play the movie.
• Despite the success, Netflix has no plans to extend its theatrical run but did announce that the sing-along version was coming to the platform.
• Additionally, four songs from its soundtrack are in the top 10 of the Billboard 200 chart — a first-ever for a movie soundtrack.

Final Tally: Unsurprisingly, Hollywood insiders and analysts are eager to see if this means Netflix will push further into wide-release theatrical swings with its titles. The consensus is “don’t count on it,” but it demonstrates an interesting strategy for the streamer — releasing fandom-driven titles after they become popular on the platform, as people are already jazzed to see them. Talk about a clever twist on marketing.

Ironically, KPop Demon Hunters didn’t originate at Netflix — it began at Sony Pictures Animation and was later picked up through the streamer’s $3 billion Sony deal. With Sony Pictures Animation poised to earn more from the film (windowing, sequels, etc.), the franchise is shaping up to be a win-win for both studios.

Coming Soon: Netflix could make a pretty good business out of themed screenings for newly-popular titles, turning every theatrical weekend-release into an event — a move that could charm more filmmakers into bringing their projects to the streamer.