By all accounts, KPop Demon Hunters is one of the biggest and most successful releases of 2025. Having debuted on Netflix in June, the CG-animated musical action-fantasy film has since become the second-most popular Netflix original ever with over 180 million views.
In addition to its viewership success, the film has experienced unprecedented success with its music as well. The soundtrack debuted at No. 8 on the U.S. Billboard 200, while soaring to No. 3 in its second week. Record-breaking streaming numbers pushed it to No. 2 by its third week, marking the biggest streaming week for a soundtrack in over three years, second to only Barbie. The soundtracks hit single "Golden," performed by the fictional girl group HUNTR/X, reached No. 1 on the Billboard Hot 100, a first for any K-pop girl group, real or fictional.
Not everyone behind KPop Demon Hunters is reaping the rewards of its runaway success. While the film rises to become a major global franchise, Sony Pictures is largely watching from the sidelines.
A report from Puck reveals that while KPop Demon Hunters was developed and produced by Sony Pictures Animation, the studio sold the distribution rights to Netflix under a 2021 output deal. According to Matthew Belloni, that the agreement capped Sony's earnings at roughly $20 million.
The number may seem surprisingly low given the massive success of KPop Demon Hunters, but it’s worth noting that a theatrical release wouldn’t have guaranteed the same level of popularity. On Netflix, the film faced virtually no barriers to viewership, allowing it to go viral in a way that might not have been possible in theaters.
In hindsight, however, $20 million now seems modest compared with the potential revenue from a theatrical release or long-term franchise ownership. While Sony retains the right to produce follow-up films, Netflix controls sequels, spin-offs, and the lucrative music tie-ins. Beyond potential earnings from future sequels and spin-offs, the music of KPop Demon Hunters by itself is probably worth $20 million.
When K-pop superstars Rumi, Mira, and Zoey aren’t selling out stadiums, they’re using their secret identities as demon hunters to protect their fans from ever-present supernatural danger. Together, they must face their biggest threat — an irresistible rival boy band of demons in disguise.
Looking to capitalize on the success of KPop Demon Hunters, which has drawn comparisons to that of Disney's Frozen, Netflix is reportedly exploring the possibility of two sequel movies and even a live-action adaptation. Speaking to ScreenRant, KPop Demon Hunters creator and co-director Maggie Kang had previously addressed the idea of a sequel, acknowledging that they are always thinking of ideas.
"There are always side stories, and there are things we've thought of while making this one," Kang said. "There are a lot of questions that are answered, but not fully. I think there are a lot of pockets that we can explore."
No official plans have been announced regarding the future of the franchise, but Netflix has announced that it is bringing KPop Demon Hunters to theaters as a limited sing-a-long event. The special event is running for just a single weekend on August 23rd and August 24th, but with tickets selling out quickly, theaters are reportedly already asking Netflix to extend the theatrical run.