Stranger Things is almost over

“Stranger Things” represents something truly unique in an era where monoculture is all but dead. Every time a new season arrives, we all get closer to a shared cultural experience, and now that “Stranger Things” is coming to an end with season 5, Netflix will need a new hit to take its place — and it might not need to look that far. “KPop Demon Hunters” has proven to be just as popular and culturally relevant as the Duffer Brothers series, and now it appears Netflix is ​​poised to capitalize on that success, suggesting that “KPop Demon Hunters” will become the streamer’s new “Stranger Things.”

In terms of series, season 1 of “Wednesday” currently sits at the top of Netflix’s all-time list, with 252.1 million views. With 140.7 million views, season 4 of “Stranger Things” ranks third, behind the scary series “Adolescence.” But taking into account each season, alongside the obvious cultural impact, “Stranger Things” has been nothing short of a monster for the streamer. With an animated spinoff series, books, comics, games, and even a Broadway show, the Duffer Brothers’ sci-fi horror series has undeniably helped make Netflix the world’s most subscribed streamer over the past decade.

Now, fictional Korean girl group HUNTR/X is officially the most popular group on Netflix. Not only is “KPop Demon Hunters” the most successful streamer film of all time, but it eclipsed the next popular film in terms of global views, with 325.1 million views compared to 230.9 million amassed by “Red Notice,” the glossy, lifeless action film from Dwayne Johnson and Ryan Reynolds. With Stranger Things ending, expect to see a lot more demon hunting in the near future.

“KPop Demon Hunters” became so popular that it forced Netflix to do something it has avoided. In other words, the streamer has Above all has avoided doing merchandising for its most popular IP. The only major exception? “Stranger Things” (and “Wednesday,” which dominated the 2022 Halloween season). Go to any Target or Walmart in the U.S. and you’ll see entire aisles dedicated to the series with everything from clothing to chips branded “Stranger Things” as part of the Season 5 promotional campaign. While other Netflix series have matched “Stranger Things” in views – notably “Squid Game” – none have proven as valuable in terms of licensing.

Now, a challenger has emerged in the form of “KPop Demon Hunters,” with Netflix recently announcing its partnership with Mattel to produce everything from dolls, collectibles and action figures to accessories and playsets based on the hit film. Additionally, Netflix and AMC squashed their high-profile beef in order to re-release “KPop Demon Hunters” in theaters for Halloween — a smart move considering the show’s characters would be among the top costume choices for the 2025 spooky season.

Apparently the streamer and its partners were completely unprepared for this onslaught of attention, with the company telling Business Insider that interest from licensing partners was “low” before the film’s initial release. This has led to a shortage of merchandise and, more importantly, Halloween costumes before October 31st. In other words, this movie surprised everyone, including Netflix. But with “Stranger Things” ending, it’s surely a nice surprise.

Unlike “Squid Game” or even “Red Notice,” “KPop Demon Hunters” is a particularly big hit for Netflix because of its cultural impact. Kids relate to this movie in a way that they never could with the aforementioned shows and movies, and that’s what makes the movie so important to the streamer. After premiering on Netflix on June 20, 2025, “KPop Demon Hunters” enjoyed a rare theatrical release when a sing-along version debuted in theaters for two days between August 23 and 24, 2025. The film quickly became Netflix’s best-performing theatrical release ever, grossing $19.2 million in its brief weekend window and solidifying the finish a powerful IP.

Fueled by positive reviews, word-of-mouth, its shrewd exploitation of K-Pop’s continued popularity, and a rewatch rate that surely must have been the highest in Netflix history, “KPop Demon Hunters” became a mega-hit far more quickly than anyone, including the streamer itself, could have imagined. Now, this new property has the potential to unite an increasingly fractured culture with each new release, providing a shared experience to a generation that has otherwise wallowed in a stupor on Tik-Tokk.

With the huge licensing deal and what is clearly a significant cultural influence, “KPop Demon Hunters” is therefore perfectly poised to take on the role that “Stranger Things” has played over the past decade. Of course, for that to happen, Netflix will have to try to satisfy its never-ending appetite for “content.” What’s interesting is that this particular hit is a film rather than a series, but with so much attention being paid to HUNTR/X, it’s surely only a matter of time before a series materializes.