The Powers That Be: Daily Netflix’s Kpop Knockout & The Duffer Defection
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Aug 19, 2025 
Matt Belloni, author of Puck's What I'm Hearing newsletter, joins guest host Julia Alexander to analyze the unexpected success of 'Kpop Demon Hunters,' Netflix's second-most-watched original film, and its potential to rattle Sony's executives. They also delve into the Duffer Brothers' surprising move from Netflix to Paramount, speculating on the broader implications for Hollywood's creative landscape and how such transitions might impact major streaming platforms in an ever-evolving entertainment market.
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Streaming Can Still Reach The Zeitgeist
- K-pop Demon Hunters became a major cultural moment for Netflix despite being streaming-only.
- Matt Belloni says it's the closest Netflix has come to a theatrical-level zeitgeist without theaters.
Netflix Values Engagement Over Box Office
- Netflix will treat successful originals as franchise engines to drive engagement on the service.
- Belloni predicts sequels and spinoffs will stay on Netflix because the company prioritizes service engagement over box office.
Sony's 2021 Netflix Slate Deal Backstory
- Sony struck a 2021 macro deal with Netflix to sell a slate of films for immediate cash during pandemic uncertainty.
- That deal capped Sony's upside and left them with only about $20M on a $100M-plus hit like Demon Hunters.