For years, movie theaters have been at odds with streaming companies like Netflix Inc (NASDAQ:NFLX) that have taken away movie titles that could have made their way to the big screen and for keeping moviegoers at home on the couch instead of reclining seats with overpriced movie popcorn and drinks.
Some movie theaters may be ready to send a thank-you note to Netflix with the company's recent streaming hit ready for theaters.
What Happened: Hundreds of millions of Netflix's subscribers have already watched "KPop Demon Hunters," which is now the second most-watched film in the streamer's history.
Movie theater companies, including Regal Cinemas and Cinemark Theaters (NYSE:CNK), are hoping fans of the hit movie are ready to see it in theaters with a special sing-along version of the film.
The new version of the film has been booked for more than 1,700 theaters and over 1,000 shows have already sold out, according to the Hollywood Reporter. The film will hit theaters in North America, the United Kingdom, Australia and New Zealand Aug. 22 through Aug. 24.
Along with Regal and Cinemark, Alamo Drafthouse and some smaller theater companies will screen the film. AMC Entertainment Holdings (NYSE:AMC) is not showing the film as of the time of the report.
Based on the report, not only could "KPop Demon Hunters" add some incremental box office dollars to its record-breaking Netflix run, helping the streamer and theater companies, but the film could also be one of the top-grossing films of the weekend, given a relatively weak slate of new releases.
Box office estimates are currently in the $5 million to $10 million range for North America for the week based on advanced sales. Netflix may not make its theatrical gross figure public.
Read Also: Netflix Q2 Revenue Surges On Price Hikes & Ads—Q3 Likely To Echo The Gains
Why It's Important: The animated film from Sony Group Corp (NYSE:SONY) studio Sony Pictures Animation has 210.5 million views since its June 20 debut on Netflix. The film ranks second, based on the first 91 days of availability, in Netflix movie history, trailing only "Red Notice," which has 230.9 million views.
The film ranked number one among global films for the week of Aug. 11 through Aug. 17, with 26 million views. The film has been in the top 10 on Netflix's charts for nine weeks.
Along with the millions of views on streaming platforms, the film’s songs and soundtrack have topped Billboard charts, with the song "Golden" becoming a number-one hit.
With the film's success also comes new merchandise, with Hot Topic and Amazon.com Inc. (NASDAQ:AMZN) among the companies selling official merchandise, according to The Hollywood Reporter.
"KPop Demon Hunter" is an unlikely hit for Netflix and could now be a hit for movie theaters too, even if only for one weekend. Netflix is likely to continue to capitalize on the film's success with merchandise and a potential sequel.
NFLX Price Action: Netflix stock was down 0.5% to $1,213.48 on Wednesday versus a 52-week trading range of $660.81 to $1,341.15. Netflix stock is up 36.1% year-to-date in 2025.
Read Next:
Photo: marekfromrzeszow / Shutterstock
