Netflix Inc stated South Korean present Squid Game has change into its largest sequence launch ever, beating high-profile American productions, because the dystopian drama turns into an sudden international sensation.
Squid Game has attracted 111 million views since its launch on September 17, Netflix stated in a tweet on Wednesday. That surpasses its earlier prime present, Bridgerton, which hit 82 million households in its first 28 days of launch.
Squid Game — a couple of group of debt-laden Koreans who enter a survival recreation akin to the Hunger Games in hopes of a large money prize — is proving as fashionable with traders because it is with viewers. It helped Netflix’s inventory attain a report earlier this month, with shares surging 6 per cent for the reason that present’s launch. The sequence’ reputation has additionally fuelled a rally of associated Korean leisure shares.
The present’s success is a milestone for Netflix, which has been stepping up funding in fast-growing Asian markets — notably South Korea — by producing authentic content material, buying studios and establishing expertise coaching bases as progress within the US market slows. Still, it’s set to face growing challenges as rivals together with Walt Disney Co and Chinese know-how big Tencent Holdings Ltd double down on investing of their streaming platforms in Asia.
Squid Game has proved that Netflix’s largest benefit is international language TV. Netflix has invested about 770 billion received ($645 million) in South Korea since getting into the nation in 2016, creating about 80 authentic sequence and movies. In February, it revealed a plan to spend $500 million on authentic content material in South Korea this 12 months.