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The last couple of months saw the rise of a brand-new IP in the form of Kpop Demon Hunters. Nobody thought this could achieve what nobody else has, becoming the most-watched English-language film of all time on Netflix. Competing with the likes of live-action projects featuring big stars.
But fans loved the film and it became a global sensation. Everyone is now waiting for the announcement of the sequel but there’s debate online about whether Sony Animation should have given over this IP to Netflix or given it a theatre release on its own. Here’s what we know about the sequel snag.
Kpop Demon Hunters 2: Is Sequel Stuck Due To Netflix & Sony’s Contractual Issues?
According to The Hollywood Reporter, Sony and Netflix are in talks about the sequel to Kpop Demon Hunters, as was expected after the blockbuster success of the movie. But there are quite a few things to look over before anything is finalized. There’s chatter about if collabing with Netflix was right.
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They feel Sony should have gone all out with a theatrical release instead of handing it over to Netflix. It was a financial risk since no stars were involved but it could have been an exciting new IP they had sole ownership of. “It was certainly a mistake for Sony to give it up,” an insider told the portal.
They added, “Sounds like this was a new IP, they didn’t think it would land and was just bad luck for them.” The contract for Kpop Demon Hunters was part of a first look deal and Netflix paid for the film’s $100 million budget as well as handed Sony “a fee of $25 million, or 25 percent of the budget.”
In addition to it, Sony gets a portion of the soundtrack sales and music publishing fees for certain songs. They do not have any merchandising rights, as per the report. All the revenue and rights could have been Sony’s if they had gone for a theatrical release and not collaborated with Netflix.
Kpop Demon Hunters is the most-watched English-language film of all-time on Netflix and has a whopping 236 million views in over two months of its release. The original soundtrack of the film is the first to have four Top 10 hits on the Billboard Hot 100. That’s the kind of success people dream of.
The partnership has gone smoothly but now things have to be revaluated before a contract is drawn for the sequel. After all, the stakes are higher this time around. Dan Lin, Netflix’s head of film told the portal that they are delighted with this partnership and are glad to see the film’s huge success.
He stated, “The movie became a cultural phenomenon, it’s one of the only films to grow its audiences in its fifth and six weeks of release.” To wrap it up, conversations are on but no deal has been finalized yet as they have to sort through the Netflix and Sony contract before announcing the sequel.
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