Netflix is the one and only actual winner of the Squid Games. The streaming service announced that it increased it customer base by 4.4 million in the most recent quarter, above analyst expectations.
Considering that Netflix only had 5.5 million net members for the entire period of January to June of 2021, it appears that Netflix has regained its mojo following an unpleasant post-quarantine period.
Who is the breakout star of Netflix’s summer lineup? It’s a Squid Game. The violent Korean drama has surpassed Bridgerton as Netflix’s most popular show by a wide margin, with 142 million accounts turning in within its first four weeks, outpacing the show’s closest competitor by 73 percent in terms of lifetime viewership (82 million).
Squid Game is estimated to have generated a value of $900 Million, despite the fact that it only cost roughly $21 million to develop.
Netflix’s broad global reach was also demonstrated by the fact that it was the most watched show in 94 different countries.
Netflix is not only seeking for new users outside of the United States, but also in other mediums like television and movies. In this case, video games are concerned. Netflix’s shareholder letter from yesterday said that the company has recently a) bought gaming company Night School Studio and b) introduced games to its application in Spain, Poland and Italy, among other countries.
Why? Because there has never been a time when the competition was more strong. Netflix admitted that it competes with a “staggeringly large variety of activities for consumers’ time and attention.” Netflix also noted that it has a “strong brand image.” According to Netflix, the company saw a 14 percent increase in engagement when Facebook was down for several hours on October 4.
Unrest, on the other hand, is hovering just beneath the surface. Some Netflix employees will demonstrate in front of the company’s Los Angeles offices today, ahead of a planned virtual walkout on Friday.