Sony Lost Big On KPop Demon Hunters’ Record Success, Says Report
The post Sony Lost Big On KPop Demon Hunters’ Record Success, Says Report appeared on BitcoinEthereumNews.com. KPop Demon Hunters Netflix While KPop Demon Hunters is almost exclusively associated with Netflix as it sets record after record across two different industries, streaming and music, few may know who actually developed and produced the film, Sony Pictures Animation, the studio behind Enter the Spider-Verse (you may see some similarities to that style here). The film is a colossal hit, so surely that must be working out great for Sony, right? Well, not so much. According to industry fixture Matt Belloni, the problem is how this original deal was structured. Sony made KPop Demon Hunters for $100 million, then sold the rights to Netflix. Now, reports are that Sony will end up making just $20 million in profit on the deal thanks to those terms, as anything that happens from here, that’s all Netflix, since they own the property. KPop Demon Hunters Netflix At the time, that probably sounded like a deal that was just fine. It’s a good movie, it would be fed into the Netflix conveyer belt of content, be watched, and everyone will praise it for a weekend and move on. But the rest is history, of course. As I write this, Kpop Demon Hunters remains the #1 movie on Netflix seven weeks after release, something we’ve never seen before. It has been elevated to Netflix’s second most-viewed movie ever, and it has its sights set on #1, Red Notice. It has placed at #1 on almost every top music chart with its fictional group HUNTR/X’s track Golden, most recently achieving the ultimate prize, landing at #1 on the Billboard Hot 100, the first Kpop group to do so, and the first girl group to do so since Destiny’s Child. Netflix reportedly views KPop Demon Hunters as its “Frozen” equivalent, Disney’s billion dollar franchise. While KPop…
The post Sony Lost Big On KPop Demon Hunters’ Record Success, Says Report appeared on BitcoinEthereumNews.com.
KPop Demon Hunters Netflix While KPop Demon Hunters is almost exclusively associated with Netflix as it sets record after record across two different industries, streaming and music, few may know who actually developed and produced the film, Sony Pictures Animation, the studio behind Enter the Spider-Verse (you may see some similarities to that style here). The film is a colossal hit, so surely that must be working out great for Sony, right? Well, not so much. According to industry fixture Matt Belloni, the problem is how this original deal was structured. Sony made KPop Demon Hunters for $100 million, then sold the rights to Netflix. Now, reports are that Sony will end up making just $20 million in profit on the deal thanks to those terms, as anything that happens from here, that’s all Netflix, since they own the property. KPop Demon Hunters Netflix At the time, that probably sounded like a deal that was just fine. It’s a good movie, it would be fed into the Netflix conveyer belt of content, be watched, and everyone will praise it for a weekend and move on. But the rest is history, of course. As I write this, Kpop Demon Hunters remains the #1 movie on Netflix seven weeks after release, something we’ve never seen before. It has been elevated to Netflix’s second most-viewed movie ever, and it has its sights set on #1, Red Notice. It has placed at #1 on almost every top music chart with its fictional group HUNTR/X’s track Golden, most recently achieving the ultimate prize, landing at #1 on the Billboard Hot 100, the first Kpop group to do so, and the first girl group to do so since Destiny’s Child. Netflix reportedly views KPop Demon Hunters as its “Frozen” equivalent, Disney’s billion dollar franchise. While KPop…
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