Sony Executive Ponders Over Netflix Purchase of KPop Demon Hunters Film
In a stunning turn of events, the K-pop-infused supernatural film KPop Demon Hunters has become Netflix's most-watched film of all time. The movie, produced by Sony Pictures, has been a resounding success, with the streaming giant reaping the rewards.
Sony Pictures CEO Ravi Ahuja was recently questioned about the sale of KPop Demon Hunters to Netflix at a Bank of America conference. Ahuja revealed that Netflix paid the full cost, plus a profit premium, for the film. This substantial investment seems to have paid off, as KPop Demon Hunters continues to lead Netflix's chart rankings.
The unique release pattern of KPop Demon Hunters, which initially streamed and later appeared in cinemas, appears to have contributed to its success. The film's success has reportedly led to discussions at Sony's headquarters, with a spin-off for Wednesday and two sequels to KPop Demon Hunters in the works.
The planned sequels are produced by Sony Pictures, with Netflix holding distribution and merchandising rights. Current work on the first sequel is ongoing, with negotiations about the involvement of directors Maggie Kang and Chris Appelhans still in progress.
Interestingly, Ahuja suggested that KPop Demon Hunters could have been a theatrical release. However, it seems that Netflix was the right home for the film, providing it with a global audience and the opportunity to break records.
Meanwhile, Netflix is moving forward with season 3 of the supernatural mystery series Wednesday, and Wake Up Dead Man: A Knives Out Mystery will receive a limited theatrical release before moving to Netflix.
As for Chris Columbus, director of The Thursday Murder Club, plans are underway for The Thursday Murder Club 2 movie. It seems that the success of KPop Demon Hunters has opened up a new chapter for Sony Pictures and Netflix, with exciting projects on the horizon.
Sony Pictures Animation branding appears on KPop Demon Hunters, indicating a close collaboration between the two companies. The success of KPop Demon Hunters has undoubtedly given Sony some leverage, especially considering that Sony Music Publishing is a key component on the music side.
In the midst of this, discussions about a possible Wednesday spin-off continue, adding another intriguing layer to the ongoing success story that is KPop Demon Hunters.
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