On January 1, K-EnterTechHub Media Research Institute (Korea) announced the predicted revenue of the movie "Squid Game".
According to K-EnterTechHub, “Squid Game 1” earned about 1 trillion won in revenue with a production cost of 25 billion won, 40 times the production cost.
In part 2, the film's production cost is about 100 billion won, 4 times more than the previous part, and is expected to earn at least 1,500 billion won (1 billion USD), based on the performance trajectory of the first part.
However, Netflix, the platform that produced and distributed the film, responded shortly after. According to Netflix, as a monthly subscription service, they cannot calculate revenue based on individual programs.
“Regarding the revenue analysis of “Squid Game 2” released by a research organization, there are aspects that are completely different from reality.
As a monthly subscription service, Netflix cannot generate additional revenue based on the number of views or viewing time of individual works. Therefore, it cannot calculate revenue based on the success of a single work.
There is no official information that allows us to estimate the monetary revenue of individual works. Netflix does not evaluate the performance of works in this way, and we cannot do so,” Netflix responded.
Netflix added that this estimation method is more appropriate for analyzing box office performance based on movie ticket sales or analyzing pay-per-view service revenue.
However, Korean media said that this was just a clever response from Netflix to avoid having to give specific numbers, because in fact, after the success of season 1, the platform generated a lot of huge profits.
Currently, “Squid Game 2” holds the No. 1 spot on Netflix’s global non-English language TV show rankings in 93 countries/territories. The series also set a new viewership record in its first week with over 480 million hours watched.
According to the producer, “Squid Game 3” is scheduled to premiere on June 27. In this part, in addition to Younghee - the iconic doll in the game “Red Light, Green Light” in the first season, Cheolsu will appear.
