Netflix’s Squid Game series has become the most-watched series which the streaming giant has ever produced and it has become a global sensation. The report is that the series has helped lure more new customers than expected. And Netflix further predicts that a packed lineup of shows would further boost signups through the end of the year.
Netflix experienced a sharp slowdown in the first half of 2021, however, the streaming giant later added 4.38 million subscribers from July through September to reach 213.6 million worldwide. Last year the company experienced a subscriber boom as COVID-19 kept audiences at home, but growth stalled early this year.
At the same time competition rose in the streaming market, as Walt Disney Co’s Disney+, AT&T Inc’s HBO Max, and other competitors bolstered their offerings. Netflix stated that the earlier weakness is due to a thin slate of new programming caused by production shutdowns from the pandemic.
Then, on September 17th, 2021, the South Korean drama “Squid Game” made its debut and everything changed. The series even surprised the executives by becoming the streaming service’s most-watched original series in its first month.
Netflix reported that a “mind-boggling” 142 million households had watched the dark South Korean drama, which is about people who compete in a deadly competition to erase the financial debt. The series was produced on a relatively small budget, but it shot to the top of Netflix viewing charts in 94 countries and kick-started the sales of tracksuits and Vans sneakers, as well as kindled the interest in learning Korean around the globe. “Squid Game” merchandise is now on its way to retailers as well.