Happy Friday and welcome back to The Daily Courant, your afternoon medley of Puck’s best new reporting.

First up today, Matt Belloni scoops the precedent-setting Netflix deal for Maggie Kang and Chris Appelhans, the filmmakers behind KPop Demon Hunters, the streamer’s first Disney-style movie franchise—which, of course, spawned mountains of merch, earned Oscar wins and Grammy noms, and is still No. 4 on Nielsen’s latest streaming chart. Netflix is praying the film’s sequel (likely arriving in 2029 or 2030) can outperform the original, but the real challenge involves building the playbook on the fly for the first all-audience film franchise born on a streaming service…

Plus, below the fold: Julia Ioffe shares her chilling conversation with Rep. Jason Crow, a decorated Army veteran, about Trump’s Iran betrayal. John Ourand foreshadows MLB’s next move after the World Baseball Classic’s ratings bonanza. Ian Krietzberg digs into Sam Altman’s $135 million solution to the internet’s bot crisis. And exclusively for Inner Circle members, Lauren Sherman unearths the myriad troubles plaguing the Lanvin Group.

Meanwhile, on the pods: Dylan Byers is joined by Beehiiv founder Tyler Denk on The Grill Room to make the case against Substack. On The Town, Matt and legendary comedy director Paul Feig discuss his secrets to success in Hollywood. And on The Powers That Be, Peter Hamby and Matt take an inside look at Amazon’s blockbuster theatrical ambitions.

HOLLYWOOD

The runaway success of the animated musical was so unexpected that the streamer didn’t have its creators locked in for a follow-up. Now, thanks to all those streams and dolls and even Demon Hunters-branded ramen, the filmmakers (and producer Sony Pictures) are getting rewarded. Here’s what the deals look like.

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Fueling US energy priorities.

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WASHINGTON

Republican veterans of Iraq and Afghanistan used to be among the most vocal critics of new military adventures in the Middle East. Democratic Rep. Jason Crow, a veteran himself, wonders where they all went.

SPORTS

Tuesday’s U.S.–Venezuela blockbuster affirmed the World Baseball Classic as a sports and ratings powerhouse, with an audience equal to some World Series games. Now that the tournament is living up to its name, how can baseball make the most of it?

A.I.

While the “agentic web” is still in its infancy, it’s already getting difficult to distinguish real users from A.I. bots. A handful of companies think they have the answer.

FASHION

With an executive shake-up at its marquee brand and tremors across the group’s portfolio, the parentco of St. John, Wolford, and Sergio Rossi is once again at an inflection point. Is bankruptcy on the near horizon, or can C.E.O. Andy Lew and his China-based owners right the ship?

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Boosting American energy.

bp added $190+ billion to the US economy over the past three years. We’re investing in America to help meet growing energy demand today and build supply for the future. From discovery to production to retail, see how else bp is driving American energy forward.

MEDIA

Tyler Denk, founder and C.E.O. of Beehiiv, joins Dylan to make the case for what makes his platform the best bet for independent creators—and why it’s not to be compared to Substack, as it so often is. He also weighs in on Substack’s $1.1 billion valuation, the realities of monetizing audiences, and the long game for the creator economy writ large. Plus, his thoughts on scaling the business and why that keeps him up at night.

HOLLYWOOD

Matt is joined by director and writer Paul Feig (A Simple Favor, Bridesmaids, Spy) to discuss his latest movie, The Housemaid. They dive into why he thinks the movie was so successful, what’s behind his high career hit rate, his unique process (including why he loves test screenings), and the keys to commercial success.

HOLLYWOOD

Matt Belloni joins Peter with an inside look at Amazon’s blockbuster movie ambitions, spearheaded by Ryan Gosling’s new $200 million film, Project Hail Mary, which Amazon hopes will position the streamer as the go-to studio for major theatrical releases. Plus, some final thoughts on the Oscars: why the ratings were down, who attended the afterparties, Michael B. Jordan’s best actor win, and more.

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