Netflix has had one hell of a summer, and not because its powerhouse series, Wednesday, finally returned for season 2. KPop Demon Hunters, a mesmerizing animated film about a fictional girl band called HUNTR/X who slays demons when they aren’t selling out arenas, has dominated streaming platforms. Most recently, it even broke a Destiny’s Child record by becoming the first girl group in 24 years to have a No.1 on Billboard’s Top 100.
But with how well KPop Demon Hunters has done for Netflix, there is a chance (small as it may be) that Sony Animation takes the film’s sequel, KPop Demon Hunters 2, somewhere else entirely.
As confirmed by Puck, Sony is currently in negotiations with directors Maggie Kang and Chris Appelhans for a follow-up to the smash-hit film. The studio has the contractual right to create and produce any spinoff or sequel. However, Netflix has zero obligations to renegotiate anything the studio follows up with. If Netflix, for whatever reason, didn’t want the sequel or spinoff, Sony could shop their sequel anywhere else. Hell, they could even go straight for a theatrical release.
Why Sony may want to move past Netflix is simple: there’s money to be made. Despite having produced, created and developed KPop Demon Hunters — and despite the runaway success that has made it into a fandom legend for both young children and adults, particularly young women and girls — Sony is only going to make around $20 million. Nothing to turn your nose up at, of course, but considering how popular the film is, the studio could be making a lot more.
Furthermore, the deal that had KPop Demon Hunters fall directly into Netflix’s lap happened back in 2021, a still uncertain time for the movie theater business due to the COVID-19 pandemic. In signing on with Netflix’s “direct-to-platform” agreement, Sony guaranteed a number of its projects would be greenlit with Netflix in control of the project’s release and control. According to Puck, sources familiar with the deal between Sony and Netflix state that it was capped at £20 million per film, and so, as little as that may be, it guaranteed that money would go into the studio and thus avoid layoffs. Hindsight really is everything, but at the time, the deal seemed more than satisfactory for Sony film chief, Tom Rothman.
But it’s 2025 now, and KPop Demon Hunters is headed to local cinemas around the world for a theatrical release and sing-along events. This two-day special event is happening in 1,100 theaters, and Puck reports that over 300 of the screenings are already sold out, with cinemas begging Netflix to extend the run. The fact that Sony won’t be making any money off those ticket sales probably stings. This may be enough to convince the studio it’s worth exploring other options for a sequel beyond Netflix.
Regardless of the future, Netflix has a hit on its hands — one that may even go as far as to surpass Red Notice as their most-watched original film ever. If a sequel does come along, I highly doubt Netflix will let it go unnoticed. But it’s possible that KPop Demon Hunters will play in theaters before it lands on Netflix, and not the other way around.