$33 Million 2024 Action Movie Confirms 1 Netflix Mistake That Needs To Change

Summary Netflix missed out on millions by passing on Monkey Man's theatrical release after selling rights for $30 million.

Monkey Man's success at the box office without Netflix proves the streaming service missed a major opportunity.

Netflix should consider adding theatrical releases to its movie model to capitalize on box office earnings and streaming success.

This year, Dev Patel released his hugely successful directorial debut, Monkey Man, and while its popularity says many things, the movie's success is definitely a hint to Netflix that they must not pass up risky projects, and furthermore, should take advantage of theatrical releases like the rest of the streaming world. Monkey Man is a neo-noir action movie that stars Dev Patel as Kid, a young man who seeks revenge against the people who caused his mother's death and continue to hurt Indian politics and society. On a budget of $10 million, Monkey Man's box office was $33 million.

The relationship between Monkey Man and Netflix makes more sense when considering their history together. Back in 2021, Monkey Man had been completed and was promptly sold to Netflix for a sum of $30 million. The movie would have been made available on the streaming service and indefinitely remained in its catalog. However, Netflix later backed out of the deal due to Monkey Man's gritty nature and political conversations. This left Monkey Man completely adrift until Jordan Peele picked it up with his production company, Monkeypaw Productions, and sold it to Universal Pictures. Now, Netflix's mistake is abundantly clear.

Related Monkey Man Ending Explained: What Happens To Kid Monkey Man has an explosive ending that sees Dev Patel attempting to achieve his revenge. We break down the biggest moments from the film's ending.

Monkey Man's Box Office Success Was Only Possible Without Netflix

Monkey Man would have no box office with Netflix

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Despite the fact that Netflix left Monkey Man out in the cold, the film was way more successful without Netflix's involvement. Monkey Man could have faded into the background after its Netflix deal fell through, but it was a good enough film that it came on the radar of people who understood how successful the movie could be. In this way, Monkey Man was able to far exceed its budget at the box office and become a critical hit, earning an 84% on Rotten Tomatoes. If Netflix had kept Monkey Man, then this box office success never would have happened.

Although other streaming services often release their big movies in theaters before putting them on their platforms, Netflix does not follow this trend. When a project is picked up by Netflix, it goes straight to their platform. Oftentimes, these movies do incredibly well with critics and audiences alike, boosting Netflix's streaming hours. However, there is a flip side to this. When a movie doesn't get a theatrical release, it doesn't get a box office number. Therefore, its success is centered on its streaming minutes, and money plays a minor factor. Thus, it is Netflix's success, not the filmmaker's.

One of the only movies Netflix has ever put it theaters is Glass Onion: A Knives Out Mystery.

Monkey Man Proves Netflix Is Missing Out On Millions At The Box Office

Netflix could have enjoyed Monkey Man's success

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Overall, Netflix's cutting ties with Monkey Man offers two big lessons for the streaming service. First, Netflix could seriously benefit from theatrical releases. While the streaming service is not doing poorly by any means, boasting huge titles like Bridgerton and Wednesday, adding theatrical release to its docket could be a strong benefit to the company. By releasing its big movies in theaters first, Netflix could enjoy a part of the film's box office earnings, and after, continue to profit on its streaming minutes. For popular movies like Monkey Man, this would be a significant win-win scenario.

Secondly, Monkey Man's success is a reminder that Netflix plays things too safe.

Though Netflix will put its money on massive sci-fi projects like Rebel Moon, which has been criticized for its lack of depth and ideas, it will pass on movies like Monkey Man, which truly has something to say. This is not just a disservice to audiences, who clearly loved Monkey Man, but it's a bad business move. By passing on Monkey Man, Netflix lost the chance for great success. In this way, the streamer needs to be smarter about which movies it puts its money into.

It's Time For Netflix To Release Some Movies In Theaters

Netflix needs to change its model

After Monkey Man's success, Netflix must change its movie model. When a big movie is on the horizon, Netflix should set up a theatrical release before the movie streams. With enough advertisement, audiences could flock to see this new movie, giving it box office numbers that will only add to the success of the movie and Netflix. On top of that, if the movie truly is a good one, then audiences will not only see it in theaters, but will be excited to stream it as well. This plan has worked for other services, so Netflix should follow their lead.

Ultimately, Netflix made the wrong decision when it passed on Monkey Man. What caused Netflix to end the deal is exactly what made Monkey Man so unique and refreshing. In this way, Netflix must reevaluate what movies it chooses to represent, and furthermore, how it presents them to audiences. With edgier content and theatrical releases, Netflix could enter a new plane of success.