Despite KPOP DEMON HUNTERS’ Box Office Victory, Netflix Boss Says It Was a Success “Because It Was Released on Netflix First”

Just because KPop Demon Hunters tore it up at the box office doesn’t mean Netflix is suddenly turning into a theatrical-first studio. Despite the film’s surprise success on the big screen, Ted Sarandos made it clear that the streamer has no plans to shake up its release model anytime soon.

When asked during Netflix’s recent earnings conference if the company might expand its theatrical presence, Sarandos said, “there’s no change in the strategy. Our strategy is to give our members exclusive first-run movies on Netflix.”

KPop Demon Hunters didn’t just become a streaming hit, it became a phenomenon. After debuting on Netflix on August 23, the animated musical has pulled in an astonishing 400 million views, making it the streamer’s most-viewed movie ever.

That kind of momentum carried over to theaters when Netflix decided to test a limited “singalong” weekend release. The result? A massive $18 million worldwide haul, according to Box Office Mojo.

Now, Sony and Netflix are teaming up again to bring the film back to theaters for a Halloween weekend encore starting Friday, October 31. Fans will once again get to sing along with their favorite demon-slaying idols on the big screen.

But, even with that extra theatrical cash coming in, Sarandos isn’t buying into the idea that Netflix should release movies in theaters first.

In his words, the reason KPop Demon Hunters performed so well is “because it was released on Netflix first.”

When the movie first dropped, it wasn’t an instant hit. But once social media started lighting up with clips and reactions, the fandom exploded. Sarandos credited those passionate viewers for pushing the film into the stratosphere, saying that “superfans” made KPop Demon Hunters a success and “drove the recommendation engine.”

He added, “If anything, this actually reinforces our strategy, because being on Netflix actually allowed the film to build momentum.”

Still, Netflix isn’t completely ruling out theatrical experiences. The company plans limited runs for upcoming releases like Rian Johnson’s Wake Up Dead Man: A Knives Out Mystery and Guillermo del Toro’s Frankenstein before they hit the platform a couple of weeks later.

So for now, Netflix’s approach remains the same…. stream first, theaters later if it makes sense.

KPop Demon Hunters is streaming now on Netflix.