This week, the theme song from Netflix film KPop Demon Hunters topped the Billboard Hot 100, a massive achievement that is being met with both celebration and concern within the entertainment world.
The song is now the eighth K-pop-related track to top the prestigious chart and the very first by a female vocalist, according to Billboard. The voice behind character Rumi, singer EJAE, shared her emotional reaction to the news, saying, “I am speechless. Tears are all I have. I thank everyone who sent their love.”
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But behind the historic success lies a complex reality that has the South Korean music industry on edge. While KPop Demon Hunters is a story centered on K-pop idols, the film was produced by the American company Sony Pictures and its music was handled by Republic Records, a subsidiary of Universal Music Group. The massive profits from the project, whose intellectual property is estimated to be worth over $750 million, are flowing to American and Japanese corporations, not Korean ones.
This has sparked considerable anxiety in Korea as the film’s success proves that K-pop content can be created and commercialized by foreign companies without the direct involvement of South Korean entertainment agencies.
“If K-pop content no longer requires production by Korean companies, then even if the genre continues its global popularity, it might become difficult for the domestic industry to fully enjoy the benefits,” said an executive at a Korean entertainment company currently planning its own overseas expansion.
Another industry official noted that the film shatters a long-held stereotype. “It was previously believed that Korean content had to be made by Korean directors with Korean actors to be authentic,” the official commented. “KPop Demon Hunters demonstrates that with sufficient capital, anyone in the world can now produce and present Korean content.”
While the film has positively introduced Korean culture to a global audience, experts say it marks a turning point. The success of KPop Demon Hunters signals a new era where the “Korean Wave” is no longer an exclusive cultural domain of Korea, but a global cultural code that international companies will now compete over.
Meanwhile, KPop Demon Hunters reached 25.9 million views in its 8th week, bringing its total to 184.6 million views. It’s currently 46 million views behind the number one film, Red Notice, and if this trend continues, it’s expected to become the most-watched Netflix film of all time. In the series category, Squid Game Seasons 1, 2, and 3 currently hold the top three spots. However, there’s speculation that the rankings could change depending on the performance of Wednesday Season 2.
>> BTS’s Jungkook Tears Up Watching ‘KPop Demon Hunters’, Sings ‘Soda Pop’ Live for Fans
