Blockbuster’s one-off slayer features the original Blockbuster Theatrical Hit.
Netflix won its first No. 1 box office gross for its animated Sing-Along “Kpop Demon Hunters.” And the company is about to open two major entertainment and shopping venues in the US. However, Netflix has not pivoted to theatrical movies or theme parks. The IRL extension is fully designed to support its large-scale streaming biz.
“KPOP” drew an estimated $18 million to $20 million at the box office over the weekend of August 22nd-24th. It’s nothing to sneeze, but it wasn’t Netflix’s main goal when releasing a sudden streaming sensation to theatres. The simple truth continues. Netflix really doesn’t want to go to movies. Netflix wants you to watch Netflix.
Netflix has “these bespoke releases” for films that are often Oscar-qualified running, CEO-CEO Ted Sarandos said this spring at the Time100 Summit. He is a fan of theatrical “experience” but he has no idea about the future of business. Making a film “for cinemas, for a collaborative experience” is an “outdated idea.”
Meanwhile, Netflix has been successful in live experiences over the past few years, such as Queen’s Ball: Bridgeton Experience and Broadway’s Stranger Things: The First Shadow. There is also a line of products based on TV and movie franchises, rushing over the sets of Funko Pop! An ornament based on the characters of “KPOP Demon Hunter” to make use of the movie’s topics. But the point is to make sure you super-serve your fans and ultimately continue to subscribe to the streamer every month.
The company’s first two Netflix House destinations will open doors in Philadelphia and Dallas in November and December, respectively. The third location is scheduled to be released in Las Vegas in 2027. Netflix has a Netflix Bites-themed dining experience from MGM Grand.
These 100,000 square feet of Netflix House are built to attract fans who can get regular hits from “Squid Games,” “Wednesday,” “One Piece,” and “Stranger Things.” New immersive experiences created at the locations of the first two Netflix homes include “Stranger Things: Escape The Dark,” “Wednesday: Eve of the Outcasts,” and “One Piece: The Devil Fruit for the Devil Fruit,” in Philadelphia, at the King of Prussian Mall. The Dallas location of Galleria Dallas also houses “Squid Game: Survive the Trimals,” a permanent version of “Squid Game: The Experience,” which previously debuted in cities such as New York and Seoul.
But for now, Netflix is not trying to build Disneyland. The streamer’s strategy in this sector is similar to Warner Bros. Jessica Rayf Erich, senior media and entertainment analyst at Bank of America Securities, said the Harry Potter themed studio tour experience and stores are “really profitable” in leveraging existing magical world fans.
“(Netflix) just leverages properties in a very smart way and adds them,” Ehrlich says. “And you can spin the brand.”
That’s the plan. Beyond the first slate announced at Netflix House, Netflix has said it is developing future experiences and installations surrounding shows and films such as Bridgerton, Love Is Blind, The Floor Is Lava, Big Mouth, Autors Heist, Money Heist and Knives Out.
That strategy shows Netflix wants visitors to focus on streaming or just getting close to it, and is ready to pivot to accommodate the latest trends and buzz. The key is that fans know it’s there and they’re talking about it.
“I think it will encourage further relationships with brands, brands and stories loyalty,” Ehrlich says. “It just expands everything they have and it’s a good promotional outlet.”
