It is unfair to say that Netflix has always consciously ignored theaters. In fact, even its first original film, Beasts of No Nation, from 2015, had a limited theatrical release that did not go further: as more and more films were made, they completely abandoned the traditional box office route to focus on gaining subscribers to financially support them. For years, titles of varying significance have filled Netflix’s catalog, with many of us lamenting not being able to access them in a more enjoyable format. However, things are slowly changing, and it is possible that K-Pop Warriors are to blame.
Coming soon, on your streaming…
The idea of theatrical releases from the giant has always been the same: a screening of the most important films for two weeks to build momentum and then their inevitable arrival on the platform. Roma, The Snow Society, The Irishman… All films eligible for the Oscars end up being screened in a theater, because otherwise they couldn’t be nominated. It has never been a financial decision, but a strategic one. If they release, for example, My First Kiss 3 in theaters, they could alienate the native audience of the app, but if they do it with a prestigious film, they can attract new targets to Netflix. It’s a complex balance, but it works for them. It really works for them.
However, The K-Pop Warriors has been a turning point: in addition to being the most viewed in history on the platform, its subsequent release in theaters grossed 19.2 million during the only two days it was screened, on a trajectory surpassing other American animated films of the year. It’s worth considering. Although Ted Sarandos has always said that theaters are a relic of the past, the truth is that he always makes room for them in releases like Knives Out: From the Dead or Frankenstein, which will have their two weeks of rigor before arriving on the platform. Little by little, more and more are doing it. After all, it’s extra income that also adds cachet to the brand and builds hype at almost no cost. What more could you ask for?
On the opposite side, we have Apple, which spends outrageous amounts on its movies for its streaming service, Apple TV+, only to be surprised that no one is watching them. So, of course, they have no choice but to try to release them in theaters to gain notoriety. The difference is that, despite some bumps at the box office, this year they have triumphed with F1, which has already grossed 620 million and has shown that perhaps the salvation for the audiovisual department of modern Apple lies precisely in the “old-fashioned” theaters. They just need to refine their aim better.
It is true that in 2024 they didn’t hit a single one: Napoleon and Argylle, their big bets, didn’t even earn back what they cost, just like Killers of the Flower Moon (although this one compensated thanks to the Oscar buzz). In the future, they have already planned the new Jonah Hill (Outcome), the return of McG (Way of the Warrior Kid), a new Snoopy movie, a murder mystery produced by A24 and Jennifer Lawrence, the new one from Martin Scorsese and Leonardo DiCaprio… Without a doubt, their catalog is the most interesting. The question is whether being interesting alone will be enough for them to survive.
F1 has opened a window for Apple and given a breath of fresh air: perhaps the secret to succeeding in streaming was… to move away from streaming. To do the anti-Netflix: movies designed for theaters that end up exclusively on your app, instead of the other way around. Who knows. Perhaps the “outdated” theaters are the answer to surviving the “modern” streaming, and they are simply still realizing it.
