KPop Demon Hunters has become one of Netflix’s biggest global hits, dominating both streaming and music charts. However, behind the scenes, Sony Pictures Animation, the studio behind Spider-Man: Into the Spider-Verse franchise, may not be celebrating as much as expected.

According to a report from industry insider Matt Belloni, Sony sold the rights to Netflix for 100 million. Despite the film’s massive success, Sony is expected to walk away with only about 20 million in profit. Netflix, on the other hand, owns the property and will continue to benefit from its ongoing popularity.

A Deal That Looked Fine at First

When the agreement was made, it seemed like a reasonable deal. KPop Demon Hunters was expected to perform well on Netflix, receive some praise, and then fade as part of the platform’s usual content rotation. Yet the opposite has happened.

The movie has remained the #1 film on Netflix for seven consecutive weeks, something rarely seen before. It is already Netflix’s second most-viewed movie of all time and has a chance to surpass Red Notice to take the top spot.

Records Across Streaming and Music

The success of KPop Demon Hunters is not limited to streaming. Its fictional idol group, HUNTR/X, has become a real-world sensation. Their track Golden reached #1 on the Billboard Hot 100, marking the first K-pop group to achieve this milestone and the first girl group since Destiny’s Child to do so.

Netflix now views the film as its own version of Disney’s Frozen, a billion-dollar franchise in the making. While it’s not generating box office revenue, the impact in streaming terms is immense.

What Comes Next for KPop Demon Hunters

Reports suggest that the film’s success will lead to at least two more sequels, creating a full trilogy. Additionally, discussions are underway for potential live-action adaptations and even a stage show. While live-action might seem unconventional, the cast’s vocal performers resemble their characters closely, making the transition more believable.

Despite Sony’s financial setback, the property has grown into a cultural juggernaut, and Netflix is positioning it as a long-term franchise.

Kpop Demon Hunters is now available to watch on Netflix.