Los Angeles Thanks to the success of KPop Demon Hunters, Netflix seems to have achieved its first No. 1 box office title in its eighteen-year history.
On Sunday, rival studios calculated that KPop Demon Hunters had made $16–18 million in ticket sales over the weekend, more than any other movie. Due to Netflix’s policy of not disclosing ticket sales, distribution officials from three studios provided their estimates of the Netflix phenomenon under the condition of anonymity.
After becoming one of the most successful Netflix movies ever for a few weeks, the streaming service screened the movie in 1,750 cinemas on Saturday and Sunday for sing-alongs. Although the rarity of the KPop Demon Hunters releases results in a larger range, studios are able to predict ticket sales for all releases on Sunday morning with accuracy. As much as $20 million was estimated in some cases.
It amounted to a victory lap for KPop Demon Hunters, which was undoubtedly the biggest blockbuster of the summer in Hollywood, and an ironic triumph for Netflix, which revolutionized the film industry by emphasizing streaming rather than theatrical release. Another thorn in Hollywood’s side: Sony Pictures developed and produced the movie before selling it to Netflix.
Not every exhibitor followed suit. The biggest chain of theaters in North America, AMC, refused to screen the film. However, that didn’t stop Netflix from vying for the same box office title as its more established rivals.
David A. Gross, the head of the film consultancy company FranchiseRe, described the two-day musical event as entirely original.
“It might end up being higher,” Gross added. Theater owners are adaptable and can increase capacity in response to demand.
Although restricted, the theatrical release is unusual for the streaming behemoth, which has long emphasized its dedication to subscription releases. Currently the most-watched animated original film on Netflix, the film made its debut on the platform in late June.
The KPop superstar trio Huntr/x, who also function as demon hunters, are the focus of the movie. In addition to protecting their fans, the members—Rumi (Arden Cho), Mira (May Hong), and Zooey (Ji-young Yoo)—must contend with their greatest foe to date: a competing boy band composed of demons in disguise.
Weapons, the horror film starring Zach Cregger, made $15.6 million domestically on its third weekend of release. Since its premiere, the popular horror film has made over $100 million worldwide, demonstrating its enduring appeal.
Disney’s Freakier Friday made $9.2 million in North American theaters, placing it behind the horror film once more.
According to Paul Dergarabedian, senior media analyst at data company Comscore, the two movies are true bright spots as the box office enters a fairly slow summer finale. Both movies, which debuted at the same time earlier this month, saw a slight decline of 36% from the previous weekend.
According to Dergarabedian, we must consider the value of the goodwill created by people enjoying these wonderful summertime moviegoing experiences. We must consider that to be a more significant indicator than the bottom line.
