Sony’s Surprising Earnings from Netflix’s KPop Demon Hunters

Sony Pictures seems to have a major hit on their hands with “KPop Demon Hunters,” which has been dominating Netflix’s streaming charts for weeks now. The film, which centers on K-pop superstars using their secret identities as demon hunters, has captured 184.6 million viewers on Netflix, making it the second-most-watched movie on the platform behind “Red Notice.”

Despite the film’s massive success, Sony is reportedly only receiving $20 million from Netflix for the film, with no additional royalties. This is a stark comparison to the estimated $100 million production budget that Netflix is covering. Originally, Sony was hesitant to release the film in theaters and opted for a deal with Netflix, which has turned out to be a huge success.

While $20 million is nothing to sneeze at, Sony may have missed out on a much larger payday by not taking a risk with a full-blown theatrical release. The film’s soundtrack has already produced several hit songs, with “Golden” reaching #1 on the Billboard Hot 100 chart.

Despite the success of “KPop Demon Hunters,” Sony will not earn any additional money from its achievements, though negotiations for a sequel are currently ongoing. The studio does have the chance to release the film in China, but the Chinese box office may not yield the same financial success as a theatrical release.

While Sony is collecting its fee from Netflix, the streaming giant is reaping the lion’s share of the rewards, leaving Sony with a cautionary tale for Hollywood’s future. It’s a reminder that taking risks can lead to big rewards, and in this case, Netflix is the biggest winner, even as Sony’s film continues to break records on the platform. “KPop Demon Hunters” is available for streaming on Netflix now.