Sony Photos CEO Ravi Ahuja has spoken out in regards to the sale of KPop Demon Hunters to Netflix, defending the choice however finally expressing some remorse. Per Sony’s first-look distribution cope with Netflix, the longer term megahit was bought to the streamer for a premium of $20 million, plus Netflix paying for manufacturing prices.
Nevertheless, it has grow to be clear that Sony misplaced a major sum of money on KPop Demon Hunters when the property is now price way more. At a Financial institution of America press convention on Thursday, Ahuja mentioned: “It is Ok-Pop-themed, very particular movie. […] On the time, it made sense. However now you have a look at the success and assume possibly it might have been theatrical.“
Nevertheless, there may be debate whether or not KPop Demon Hunters would have been such an enormous success in theaters; Netflix later briefly launched the film in cinemas and grossed $19 million primarily based on its pre-established recognition. “It began out on Netflix after which phrase of mouth made it develop in theatrical – that is so much more durable to do,” mentioned Ahuja.
“Our mission is to make nice content material and discover the suitable dwelling. And I feel KPop Demon Hunters’ proper dwelling was Netflix. May it have been theatrical? It’s exhausting to say. It is potential however I do not assume it is so apparent,” continued Ahuja. These feedback are in mild of unique animation struggling theatrically in recent times; simply this summer season, Pixar’s comparatively well-reviewed Elio flopped on the field workplace.
Ahuja additional commented on partnerships with Netflix and different streamers, expressing positivity in direction of seeing shoppers do properly with Sony-produced properties, however nonetheless admitting that the corporate may need wished this for themselves:
The aim of the deal was to make hits. One beauty of being an unbiased is we’re glad when our shoppers do properly. […] There’s an ongoing dialog about phrases, and never even a lot in movie or on the TV facet, is whether or not the suitable phrases are getting used, whether or not streamers can really pay much less however get again extra rights. And I’ve advised all of the streamers, we’re very open to that, so we’re having extra of these conversations. If you consider KPop Demon Hunters in that mild, I feel we might at all times reasonably wager on ourselves.
Ahuja demonstrates that he and different Sony executives perceive the facility of phrase of mouth; whereas passing off KPop Demon Hunters was a wise enterprise choice when the deal was made in 2021, it’s now probably the start of a billion-dollar franchise, and the query everyone seems to be asking is what the sequel will seem like, how it will likely be produced, and distributed.
Ahuja additionally reiterated that Sony made the film, although Netflix owns and distributes it: “We made it fully for them. We take part within the music by way of Sony Music Publishing.” He additionally added: “We do all of the sequels.” Netflix and Sony are reportedly in negotiations over a KPop Demon Hunters sequel, although Netflix retains the rights to the worldwide phenomenon.
Although Ahuja talks in regards to the matter in a largely optimistic mild, it could seem that Sony doesn’t wish to hold making KPop Demon Hunters films and incomes solely the premium paid by Netflix whereas the streamer makes way more. Thus, Sony is probably going attempting to succeed in a extra useful deal for KPop Demon Hunters 2 and past.
Our Take On Sony’s KPop Demon Hunters Stance
Whereas many consultants admit that Sony made the only option as a enterprise, there may be nonetheless a prevailing sentiment that this was an enormous miss for them. The aim is to have KPop Demon Hunters co-directors Maggie Kang and Chris Appelhans return for the sequel, and hopefully, followers aren’t saved ready too lengthy due to the negotiations occurring between Netflix and Sony.
Little is understood about these discussions at current, however one factor that the 2 corporations would possibly agree on is that they need to launch the sequel theatrically, now that streaming has made it a zeitgeist staple. Nonetheless, it would not sound like Sony has utterly given up on KPop Demon Hunters but.
KPop Demon Hunters
9/10
- Launch Date
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June 20, 2025
- Runtime
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96 minutes
- Director
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Chris Appelhans, Maggie Kang
- Writers
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Hannah McMechan, Chris Appelhans, Maggie Kang, Danya Jimenez
