We’re sure you’ve heard of K-Pop Demon Hunters by now.
The film has been the number one movie on Netflix for an unfathomable seven weeks, breaking records for the streaming service. It’s also on track to become the platform’s most viewed film ever – just let that sink in.
Meanwhile, the song Golden by fictional group HUNTR/X recently topped the Billboard Hot 100, becoming the first female-led k-pop song to do so. Sorry, Blinks.
You’d assume all of this would be fantastic news for Sony Pictures Entertainment, who created the movie, wouldn’t you?
Well, actually, no.
It turns out Sony sold the rights to the franchise to Netflix, meaning it stands to make a meagre $20 million profit from the entire endeavour. That’s all according to a big report from industry know-it-all Matt Belloni.
Netflix is now describing this as its answer to Frozen, the billion dollar franchise from Disney.
It’s since started discussing plans to make a live action adaptation, as well as a further trilogy of animated films.
This is where Sony may stand in good stead, because Netflix is going to need someone to actually produce the sequels, and it seems logical to go back to the team who created the original.
Sony Pictures could never have predicted this kind of runaway success, of course, but it is a reminder of why IP ownership can be so important in entertainment industries, like film and games.