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Squid Game, produced in South Korea, whose 1st season was broadcast on Netflix last month, continues to make a name for itself all over the world. A group of 456 people from all parts of Korea is forced to play a series of children's games. Contestants who want to receive the prize of 45.6 billion Won (US$ 38.7 million) must risk their lives for this cause.
Squid Game, which ranked first in the most watched list all over the world, also greatly affected the real-life sales of the materials in the series. For example, the sales amount of green and white tracksuits, which are only in the TV series, increased by 7 thousand 800 percent, that is, almost 80 times. A Seoul street vendor, Yong-hui, who makes the candy biscuits featured in the drama, said that at 11 am, the fans of the drama started queuing and sales increased two and a half times.
Squid Game storm on Netflix
The series captured the highest-viewing record, surpassing the popular Netflix productions Bridgerton and Lupin. Although only 3 weeks have passed since its release, it managed to sit on the top in 90 countries. According to the news of South China Morning Post, the famous Korean production is also very popular in China. However, since the platform is banned by the state, only pirated copies are watched.
The producer company announced that they have launched a website inspired by the series and selling materials used in the series such as t-shirts and hoodies, and that this initiative is still in the testing phase. He expects merchandising to both generate additional revenue and lead to an acceleration in subscriber growth.
Netflix's Korean investments start to show results
The American production company has invested close to $700 million for films and television shows in South Korea since 2015. Introducing nearly 80 Korean dramas and movies on its platform in the past 5 years, Netflix has been waiting for the seeds it planted to bear fruit for a long time.
Thanks to K-Pop and fan groups that have been on the rise for a few years in the USA, the watching of Korean dramas has doubled in the last 2 years. “Viewers from all over the world are falling in love with Korean stories, artists, and culture,” said Minyoung Kim, Vice President of Content for Netflix Korea. The platform is expected to increase its investments to 500 million dollars this year.