Squid Game Helps Netflix Subscriptions Pick Up

Squid Game, the Korean survival series, is currently one of the most successfully running Netflix series. It has brought 4.4 million users to Netflix in three months. In the first four weeks of its release, the Korean series was watched by 142 million households.

Netflix announced on Tuesday that it gained 4.38 million new subscribers globally between July and September. Netflix and Wall Street analysts predicted around 3.5 million. The rise in figure coincided with the widely popular Squid Game. Netflix saw a massive increase in subscription last year as the COVID-19 pandemic. Whereas in the first half of 2021, the subscribers have slumped. Netflix says that it was because of the production shutdowns from the pandemic.

Squid Game is about a group of debt-ridden people who participate in deadly games for a huge cash prize. The series tops the list of most-viewed Netflix shows in 94 countries. Actors, unique storyline, plot twists are some of the reasons for the series success. The rise in subscribers was in the US and China.

Sources say Squid Game costs around $21.4m to make, but it is worth $900m to Netflix. In a letter to shareholders, Netflix said that “We are now producing local TV and film in approximately 45 countries and have built deep relationships with creative communities around the world.”