Sony Pictures CEO Defends Netflix Release Strategy for Blockbuster ‘KPop Demon hunters’
LOS ANGELES – Sony Pictures Entertainment CEO Tom Rothman is standing by the decision to release KPop Demon Hunters directly to Netflix,despite the film’s surprising success in both streaming and a subsequent theatrical run. The film garnered 19 million views in wide release on Netflix late last month and is already sparking sequel discussions.
Rothman addressed the question of a potential theatrical debut during a recent Q&A, acknowledging the internal debate surrounding the film’s initial distribution. Developed starting in 2021 as part of a large output deal with Netflix, KPop Demon Hunters was conceived as a direct-to-platform release during the pandemic. Netflix fully funded the film, including a profit premium, recognizing its niche KPop theme.
“Yeah, this is the question we ask ourselves, and everybody’s asking this too. I don’t know,” rothman said. “Obviously, in hindsight, it’s such a big hit.” He noted that Netflix ultimately did take the film to theaters, and believes word-of-mouth fueled its theatrical performance after building an audience on the streaming service. “So I think it was in the right home. I would say our mission is make great content, find the right home. And I think KPop Demon Hunters’ right home was Netflix.”
The success of KPop Demon Hunters is now influencing Sony’s ongoing negotiations with streamers regarding future deals. Rothman revealed there’s “an ongoing conversation about terms” and a willingness to explore arrangements where streamers might pay less upfront but return more rights to Sony. “I’ve told all the streamers we’re very open to that,” he stated. “So we’re having more of those conversations. So if you think about KPop Demon Hunters in that light,yeah,I think we would always rather bet on ourselves,right?”
