Netflix had a good quarter. Scratch that. A phenomenal quarter.
You can chalk it up to one reason; Squid Game.
The gory Korean show turned into the most popular show on the streamer by far. And that would be ever.
142 million Netflix accounts tuned into the show within the first four weeks it started running. How impressive is that compared to other popular shows that have aired recently? Well, the previously most popular show, Bridgerton, had 82 million viewers total. Which is 73% fewer than the incredible numbers Squid Game has posted.
The show has been a hit all over the world, not just the United States, reaching No. 1 status in 94 different countries.
In the previous quarter, Netflix added 4.4 million subscribers. For the previous two quarters combined, the total number of new subscribers was just 5.5 million, so you can see how epic the past quarter was.
In the world of streaming, the competition is so fierce that a hit show like Squid Game can have ripple effects that crushes other streamers.
Viewers are wanting to be constantly entertained. Case in point was when Facebook went down on October 4th. That lull for them resulted in a 14% engagement boost for Netflix.
You can bet the Disney+, Hulu, AppleTV and Peacock’s of the world are looking for their own cash cow like Squid Game, which has germinated $900 million in value for Netflix.
The show cost roughly $21 million to produce.
I think it’s fairly safe to assume a sequel is in the works.