Streaming hit brings Netflix 900 million
Squid Game is by far the most successful Netflix series. According to internal documents, the series could bring the streaming company nearly $ 1 billion.
Netflix is usually very reluctant to publish figures on the success of its films and series. Most recently, the streaming company published a current ranking of the most successful series, in which Netflix lists the content by viewer and duration of consumption. Not surprisingly, Squid Game is by far the leader there. But now internal figures have become known that give further interesting insights into the importance of the South Korean streaming hit for Netflix.
Unlike film studios or TV networks, Netflix does not generate any specific revenue from certain films or series. Instead, it collects monthly subscription fees from its users, which have to be kept up to date with new content. But internally, Netflix naturally has a large amount of data on the consumer behavior of its users: inside and then calculates the success of certain individual series or films. This of course also includes the costs of producing the content.
Bloomberg has according to their own statements Have a look at internal documents that show detailed data on Squid Game. Accordingly, the production of the first season of the series should have been comparatively cheap. In total, costs of $ 21.4 million were incurred, which corresponds to $ 2.4 million per episode. In contrast, there are 891.1 million dollars that the series should bring in according to Netflix (Impact Value).
According to the data, around 123 million people are said to have seen at least two minutes of Squid Game so far. Previously there was talk of 111 million. With both numbers, Bridgerton’s previous record, which had 82 million viewers at the start, was pulverized.
For Squid Game, according to Bloomberg, figures are available for the first time on how extensively the series is watched. According to this, 89 percent of all those who started Squid Game watched for at least 75 minutes. Two thirds, i.e. 87 million people, watched the series within the first 23 days. A total of 1.4 billion streaming hours have come together so far. That’s more than twice as much as Bridgerton can claim for itself.
The huge success of Squid Game is also likely to have had a direct positive impact on Netflix stock. Since September 17, the start of Squid Game, the share price has climbed by almost seven percent. Netflix’s current market capitalization is $ 278.1 billion. Investors expect that, in the best case scenario, Netflix will not only report an increase in its results for the third quarter, but also revise its expectations for the fourth quarter upwards.
The sneaker manufacturer Vans should also have been pleased about the success of Squid Game. Thanks to the series, sales of white slip-on shoes have exploded by 7,800 percent in the past few weeks t-online.de writes. The green retro tracksuits and red overalls also saw a huge increase in demand.
