Sony Photos CEO Ravi Ahuja has spoken out concerning 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 offered to the streamer for a premium of $20 million, plus Netflix paying for manufacturing prices.
Nonetheless, it has grow to be clear that Sony misplaced a big 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 stated: “It’s K-Pop-themed, very specific film. […] At the time, it made sense. But now you look at the success and think maybe it could have been theatrical.”
Nonetheless, there’s 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 based mostly on its pre-established recognition. “It started out on Netflix and then word of mouth made it grow in theatrical – that’s a lot harder to do,” stated Ahuja.
“Our mission is to make great content and find the right home. And I think KPop Demon Hunters’ right home was Netflix. Could it have been theatrical? It’s hard to say. It’s possible but I don’t think it’s so obvious,” continued Ahuja. These feedback are in gentle of unique animation struggling theatrically in recent times; simply this summer time, Pixar’s comparatively well-reviewed Elio flopped on the field workplace.
Ahuja additional commented on partnerships with Netflix and different streamers, expressing positivity in the direction of seeing purchasers do effectively with Sony-produced properties, however nonetheless admitting that the corporate may need wished this for themselves:
The objective of the deal was to make hits. One beauty of being an impartial is we’re completely happy when our purchasers do effectively. […] There’s an ongoing dialog about phrases, and never even a lot in movie or on the TV facet, is whether or not the correct 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 gentle, I believe we’d at all times slightly wager on ourselves.
Rumi, Mira and Zoey behind a tree in Kpop Demon Hunters
Photograph credit score: Netflix
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 determination when the deal was made in 2021, it’s now doubtlessly the start of a billion-dollar franchise, and the query everyone seems to be asking is what the sequel will appear 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 entirely for them. We participate in the music through Sony Music Publishing.” He additionally added: “We do all 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 concerning the matter in a largely constructive gentle, it will seem that Sony doesn’t wish to maintain making KPop Demon Hunters motion pictures and incomes solely the premium paid by Netflix whereas the streamer makes far more. Thus, Sony is probably going making an attempt to succeed in a extra useful deal for KPop Demon Hunters 2 and past.
Our Take On Sony’s KPop Demon Hunters Stance
Mira, Rumi, and Zoey wagging their fingers in KPop Demon Hunters
Netflix / Courtesy Everett Assortment
Whereas many specialists admit that Sony made the only option as a enterprise, there’s nonetheless a prevailing sentiment that this was an enormous miss for them. The objective is to have KPop Demon Hunters co-directors Maggie Kang and Chris Appelhans return for the sequel, and hopefully, followers will not be saved ready too lengthy due to the negotiations taking place between Netflix and Sony.
Little is thought about these discussions at current, however one factor that the 2 firms may 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.
