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Bloomberg Estimates Value Of Netflix's 'Squid Game' At About $900 Mln


10/18/2021


Bloomberg Estimates Value Of Netflix's 'Squid Game' At About $900 Mln
According to a report by Bloomberg News, the estimated value of the "Squid Game," the biggest original online streaming series launched by Netflix Inc, is almost $900 million for the streaming giant.
 
The valuation estimation was based on figures from an internal Netflix document.
 
Following its launch last month, this nine-episode thriller became an international hit quite fast. This series comprises of cash-strapped contestants playing childhood games that have deadly and each strive to win 45.6 billion won ($38.58 million) in prize.
 
The Bloomberg report noted that compared to the estimated net worth of the show, the cost of producing it was just $21.4 million.
 
In its first 23 days since its launch, at least two minutes of the show was watched by about 132 million people, stated the report. That number quite easily was much higher than the previous one that was set by the United Kingdom costume drama "Bridgerton" which, in its first 28 days, was streamed by 82 million accounts.
 
Previously, Netflix had said that the show had been able to garner about 111 million fans but the Bloomberg report noted that the company’s numbers were estimated on the basis of data that was slightly older than those used in the report.
 
The news agency said that in the first 23 days, 89 per cent of people who had started to watch the show went on to watch more than one episode, while 66% of the viewers finished watching the series, estimated Los Gatos, California-based Netflix.
 
No comments on the report were available from Netflix. In the Bloomberg report, an attorney for the company was quoted as saying that it would be inappropriate for Bloomberg to disclose the confidential data contained in the documents that it had reviewed.
 
This series by Netflix is also the first Korean drama to capture the top position on the streaming pioneer’s platform in the United States and it has even reported to have ignited interest among those people who are learning Korean.
 
A Squid Game-themed confection-making challenge in its store has been introduced by a Beijing bakery in China, where people cannot watch Netflix without a VPN because of government censorship.
 
Even Amazon Inc founder Jeff Bezos has showered praise for the show with the show being described as "impressive and inspiring" by Bezos. Amazon's Prime Video streaming service is a rival of Netflix.
 
(Source:www.businesstoday.in)


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