Netflix Surprises At Box Office As KPop Demon Hunters Reportedly Beats A24’s Weapons

KPop Demon Hunters premiered on Netflix two months ago and quickly became the streaming service’s second-most-watched film ever.

In a rare move for a streaming-first company, Netflix (NFLX) has reportedly captured the top spot at the North American box office. 

KPop Demon Hunters, a sing-along re-release of the hit animated musical, is projected to earn between $18 million and $20 million over the weekend, according to estimates from rival studios and exhibitors cited by Variety. 

The debut places the film ahead of A24’s Weapons, which was expected to lead and is on track to collect $15.6 million from 3,631 theaters in its third weekend, according to the report. KPop Demon Hunters is screening on just 1,700 screens, yet demand has been robust, with roughly 1,150 showings sold out. Not every theater chain participated. AMC, North America’s largest exhibitor, opted not to play the film. 

Netflix’s stock gained more than 1.5% in midday trade amid weakness in the broader market. On Stocktwits, retail sentiment around the streaming giant improved to ‘neutral’ from ‘bearish’ territory over the past day. 

Theatrical success is an unusual milestone for Netflix, which typically downplays box office releases. Sony Pictures Animation produced the film, directed by Maggie Kang and Chris Appelhans, and its theatrical rollout is more than double the footprint of Netflix’s ‘Glass Onion: A Knives Out Mystery’ in 2022.

Moreover, the movie isn’t new. KPop Demon Hunters premiered on Netflix two months ago and quickly became the streaming service’s second-most-watched film ever. 

On Monday, Netflix also set the opening dates for its ‘Netflix House’ locations across the U.S. The first one, in the Philadelphia area, will open on November 12, while its second Netflix House in Dallas will open on December 11. A third location in Las Vegas will open in 2027.

Each ‘Netflix House’ is expected to span more than 100,000 square feet. The company said the new spaces will offer fan experiences, merchandise, and food inspired by Netflix content.

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