In a recent media conference for investors at the Bank of America, Sony Pictures Entertainment CEO Ravi Ahuja explained why he doesn’t regret selling Sony Pictures Animation’s K-Pop Demon Hunters to Netflix, despite the immense success during its recent limited theatrical release on August 23rd and 24th. “The goal of the deal was to make hits,” he said, “One great thing about being an independent is we’re happy when our clients do well. So they did well.”
When asked if he thinks the film would’ve been as big as it has on Netflix if Sony Pictures Entertainment had released it theatrically, Ahju answered, “Yeah, this is the question we ask ourselves, and everybody’s asking this, too. I don’t know. Obviously, in hindsight, it’s such a big hit.” He then explained why the studio released the film onto Netflix, and how the results helped forge its success.
The quick story is, it was developed starting in 2021 when we did our Netflix output deal, that huge output deal. And you know, we were working on a direct platform as part of that deal. Direct platform to Netflix. And K-Pop Demon Hunters was one. It was during the pandemic. It’s a K-pop theme, a very specific film. Netflix paid the whole cost plus a profit premium to us. And, at the time, it made sense. But now you look at the success and think maybe it could have been theatrical. And in fact, Netflix took it to to theaters, right? So perhaps. But I do feel that if you look at its pattern on Netflix, it started out on Netflix and then word of mouth made it grow in theatrical.
He also explained why he thinks Netflix was a good fit for the film, saying:
So I think it was in the right home. I would say our mission is to make great content and find the right home. And I think K-Pop Demon Hunters’ right home was Netflix. Is Netflix. Could it have been theatrical? Hard to say. You don’t really know. It’s possible, but I don’t think it’s like, ‘Oh, it’s obvious now.’
K-Pop Demon Hunters is currently streaming on Netflix.
Leave a Comment