Core Insights - Netflix is leveraging the success of its KPop Demon Hunters franchise by partnering with Hasbro and Mattel for toy licensing, aiming to further monetize the film's popularity [1][2][4] Group 1: Franchise Success - KPop Demon Hunters is Netflix's most-viewed movie, achieving over 325 million views within three months, contributing to a 17% year-over-year revenue increase in Q3 [4] - The film's soundtrack, featuring the single "Golden," topped the Billboard charts for eight weeks and grossed approximately $18 million during a limited theatrical release [5] Group 2: Toy Licensing Strategy - Netflix has appointed Hasbro and Mattel as global co-master toy licensees, allowing them to produce merchandise while paying Netflix for the brand rights [13] - This strategy aims to capitalize on the diverse fanbase of KPop Demon Hunters, with Hasbro focusing on plush toys and board games, while Mattel will produce dolls and accessories [9][10] Group 3: Financial Implications - The potential for significant revenue generation exists, as successful merchandise could yield hundreds of millions in licensing fees with minimal costs to Netflix [14] - However, the impact on Netflix's financials may not be measurable until at least Q2 2026, as much of the merchandise will not be available until then [14]