KPop Demon Hunters Becomes Netflix’s Most Popular Film, Driving Global Expansion of Hallyu

The combination of animation and K-pop has achieved unprecedented success in global markets. Netflix’s “KPop Demon Hunters” has surpassed 325 million views since its release in June, making it the most popular film in Netflix’s history. It even overtook the previous record held by Season 1 of “Squid Game” when counting all films and series combined. The movie topped the North American box office upon its release in August, and when its sing-along version was re-released in theaters during Halloween in October, it generated an additional $5 million to $6 million in revenue. The film’s success has had a positive impact on the entire music industry. Eight original soundtrack tracks from KPop Demon Hunters entered the Billboard charts simultaneously, dominating the global music market, while K-pop artists have also begun appearing on various charts one after another. The economic ripple effects of Hallyu expansion are significant as well. Thanks to the success of KPop Demon Hunters, the stock prices of major companies in the K-pop industry have risen collectively. The stock prices of the “Big 4” K-pop companies—HYBE, JYP Entertainment, SM Entertainment, and YG Entertainment—all recorded double-digit growth rates this year, with YG’s shares surging by over 100%. Product licensing deals worth millions of dollars have also been secured, contributing to overall industry prosperity. Netflix officially announced the film’s popularity in August, after which it struck global toy licensing agreements with Mattel and Hasbro. Everland, South Korea’s largest theme park, opened a movie-themed zone that offers attractions like Whip-er-Mall, dance games, and snacks from the film. The two rounds of sing-along version theatrical screenings were also highly successful. The first screening in August generated $17 million to $18 million in revenue, and it continued to bring in additional income even in October, five months after the streaming service release. The success of KPop Demon Hunters has opened new possibilities for the global expansion of K-pop. Following previous events such as PSY’s “Gangnam Style” (2012), BTS’s “Dynamite” (2 billion streams), and BLACKPINK’s 2023 world tour (the highest-grossing tour by a female group)—which all raised K-pop’s international profile—K-pop is now rising to the center of global pop culture through this new medium of animation.