Squid Game has led Netflix charts in more than 80 countries thanks to word-of-mouth publicity, particularly via social media. The popular TV show is expected to generate almost USD 900 million in value for the OTT giant, highlighting the bonus one megahit can offer in the streaming era.
Knowledgeable sources cited that the series cost just USD 21.4 million to produce, with USD 2.4 million per episode, comparatively low-priced than some of the platform’s other big shows.
According to some internal documents, the show had an impact value of USD 891 million. Netflix, which works on a subscription model, uses this indicator to determine the financial importance of the series. It appears that Squid Game is likely to attract a sizable audience in the upcoming years.
Squid Game has become Netflix's most-watched original show, with 132 million audiences streaming for a minimum of two minutes. Bridgerton, the previous record holder, had an audience of a mere 82 million.
For the uninitiated, the South Korean TV show portrays a cutthroat competition in which heavily indebted people combat for a large cash prize. The contestants compete in various children's games and could face death if lost.
The streaming giant believes 66% of the spectators, which might be around 87 million people, completed the series in the first 23 days of its launch.
It is also worth noting here that Netflix managed to reap the benefits of the 2020 pandemic, as people huddled in their homes and binge-watched shows like Tiger King. However, easing government restrictions have lured people towards activities other than watching TV.
Industry analysts mentioned they will be watching the subscriber growth of the platform, given Netflix’s ability to create megahits such as Squid Game.
In recent weeks, the financial markets have warmed up to Netflix, owing in large part to the success of Squid Game. Over the last month, the company stock also witnessed a 6% surge.