"Squid Game 2" has officially aired since December 26, 2024. This drama immediately attracted so many viewers around the world. However, the plot has drawn pros and cons because it shows too many female characters as mothers. Despite this, "Squid Game 2" is still recorded to have earned a large income.
On January 1, 2024, media research institute K-EnterTechHub compared the revenue between seasons 1 and 2 of the popular Netflix drama. "Squid Game" season 1 reportedly earned around 1 trillion won in revenue with a production cost of 25 billion won.
The drama achieved a staggering return on investment of 40 times, drawing significant attention in the global content market. "Squid Game 2" achieved No. 1 TV show rankings in 93 countries in just two days after its release, continuing the success of its predecessor.
The drama, which still stars Lee Jung Jae and Lee Byu Hun, cost around 100 billion won to produce. "Squid Game" season 1 took eight days to reach a perfect score (930 points) in 93 countries. Meanwhile, season 2 reached this milestone at a much faster pace.
Based on this, analysts estimate that season 2's revenue could reach at least 1.5 trillion won. K-EnterTechHub CEO Han Jung Hoon told Yonhap News, "Although it may not match the profits of Season 1, we can still expect a return of at least 10 times the production cost."
K-EnterTechHub CEO also highlighted additional benefits from “Squid Game 2” such as Netflix’s stock price increase, new subscriber acquisition, and South Korea’s continued significance in Netflix’s global content strategy.
Netflix responded cautiously, "As a monthly subscription-based streaming service, Netflix is structurally different from box-office-based VOD (video-on-demand) or cinema-based services, which rely on a single payment model." Some have predicted that “Squid Game 2” could surpass the profits of season 1.
This analysis is taken from cases where other Netflix shows like “Stranger Things” gained maximum profits from season 3 onwards due to subscriber retention, new user growth, sales, and themed attractions. On January 1, 2025, Netflix shared via its official social media, "Younghee and Cheolsu.
The game of childhood innocence never ends. 'Squid Game' Season 3, coming in 2025, only on Netflix." The accompanying video features Younghee, the iconic doll from the first season of Red Light, Green Light, along with her partner Cheolsu, raising expectations for the upcoming season's storyline.
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