Sony Pictures sold the worldwide rights to its 2020 war thriller Greyhound to Apple TV for an estimated $70 million,then let Netflix debut the animated hit K‑Pop Demon Hunters. The moves illustrate a calculated split: blockbuster‑type releases stay in theatres while riskier titles head straight to streaming platforms.

Apple’s $70 million gamble on Greyhound pays off

In 2020, amid a pandemic‑driven slump, Sony Pictures transferred distribution of Greyhound to Apple TV for a reported $70 million, according to the report. the deal gave Apple a high‑profile war film that quickly became one of its most‑watched titles and even sparked plans for a sequel, showing how a project once deemed too risky for cinemas can thrive online.

Netflix crowns K‑Pop Demon Hunters as its top‑watched original movie

Sony Pictures Animation granted Netflix the rights to release K‑Pop Demon Hunters, which rose to become the platform’s most‑watced original film. The report notes this mirrors a decdae‑old trend of studios offloading titles they lack confidence in to well‑funded streaming services.

Industry pattern: studios trade theatrical risk for guaranteed streaming payouts

Paramount’s recent licensing of The Cloverfield Paradox to Netflix, Coming 2 America to Prime Video, and the fourth Beverly Hills Cop film to Netflix exemplify a broader shift. As the report highlights, studios are willing to sacrifice direct box‑office revenue for upfront payments and access to massive subscriber bases.

Sony’s selective strategy keeps marquee films on the big screen

While Sony has sold certain titles to streaming platforms, it continues to preserve high‑profile releases for theatrical windows. The report argues this dual approach lets Sony reduce financial risk while still capitalising on the audience reach of Apple TV, Netflix and Prime Video.

Who decides which titles go where?

The source does not reveal the internal criteria Sony uses to flag a project as “less certain .” It also leaves unanswered whether the $70 million figure for Greyhound was a fixed price or included performance‑based incentives , and how Netflix’s revenue share for K‑Pop Demon Hunters compares to traditional theatrical splits.