Just because new Netflix movie KPop Demon Hunters saw huge success at the box office doesn't mean the streamer will start releasing all of its content on the big screen.
When asked whether Netflix is looking into deeper theatrical distribution, co-CEO Ted Sarandos said that "there’s no change in the strategy," at a recent earnings conference. "Our strategy is to give our members exclusive first-run movies on Netflix," said Sarandos.
Sarandos was asked this question due to the streamer’s most-viewed movie ever, KPop Demon Hunters, soaring to number 1 at the box office, which was a first for the streamer. The movie hit Netflix on August 23 and has so far been viewed 400 million times. The streamer decided to take a singalong version of the film to the big screen for one weekend only, where it earned a whopping $18 million worldwide, as per Box Office Mojo.
Sony and Netflix will bring the movie back to theaters for another weekend beginning Friday, October 31, so fans can sing along with the demon destroyers on Halloween. However, KPop Demon Hunters' success is not enough to convince Netflix to start releasing films on the big screen first, as Sarandos believes that the anime feature's big win at the box office is “because it was released on Netflix first.”
This does make sense, as KPop Demon Hunters did not have a lot of buzz at first, but through the power of social media and word of mouth, Netflix viewers quickly flocked to the film. Sarandos said that "superfans" made KPop Demon Hunters a hit, and “drove the recommendation engine." The Netflix boss added, "If anything, this actually reinforces our strategy, because being on Netflix actually allowed the film to build momentum."
However, Netflix is not turning its back fully on short theatrical releases, as both Rian Johnson's Wake Up Dead Man: A Knives Out Mystery and Guillermo Del Toro's Frankenstein will see short theatrical runs before they hit Netflix a couple of weeks later.
KPop Demon Hunters is available to stream on Netflix right now. For more, check out the best Netflix movies you should be watching.
