Netflix stock has hit a new high as of this week, closing at $610.34 yesterday, with investors reassured that the company can still produce hits that grow its subscriber base.
The main champion here is what else, Squid Game, the viral hit that has planted itself at #1 on the service in many countries, including the US, despite being a Korean-language drama, and a show that Netflix itself says may be on the way to become its most popular series in history, passing by The Witcher, Lupin and Bridgerton, if these current trends hold.
Squid Game is important not just because it’s a big, popular new show for Netflix, but a big, popular, Korean show. That’s a key component of this, because Squid Game seems like it’s helping to drive subscriber growth in the Asia-Pacific region specifically, which is something the company has been trying to do for a while now, hence where there are a lot of Korean series (and other Asian shows) on the service now, though none have hit the popularity threshold of Squid Game.
The success of Squid Game has surprised even Netflix itself, as the company has said it simply didn’t expect the show to have this many viewers globally. But they are certainly embracing it, as here’s Netflix CEO Reed Hastings in his own Squid Game tracksuit:
Netflix will no doubt pull out all the stops to make a second season happen, though writer/director Hwang Dong-hyuk has stated that he will need some help for a follow-up.
“I don’t have well developed plans for ‘Squid Game 2.’ It is quite tiring just thinking about it. But if I were to do it, I would certainly not do it alone. I’d consider using a writers’ room and would want multiple experienced directors.”
You can bet that right now, Netflix will deliver him anything and anyone he needs to make this happen, and yet I’d be surprised if season 2 made it out in a year, as it seems likely to be longer than that, judging by these comments.
As for Netflix and its investors, this is exactly what they want to see, Netflix’s ability to produce both new, viral hits, and produce new, viral hits globally, which is why Netflix’s top three shows potentially being Squid Game (Korean), Bridgerton (English) and Lupin (French) is so important. I would expect a lot more continued investment in foreign-language productions as Netflix tries to increase its influence around the world, and this is something you don’t see nearly at the same level with rivals like HBO Max, Disney Plus, Hulu or Amazon Prime, which are far and away primarily focused on English-language series.
Squid Game, watch it. There’s a reason it’s singlehandedly generating all this buzz.
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October 01, 2021 at 07:42PM
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‘Squid Game’ Is So Popular It’s Driving Netflix Stock To New Highs - Forbes
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