‘Squid Game’ helps Netflix lure new subscribers worldwide

Over "142million member households" have seen the series so far

Netflix’s hit series Squid Game has helped the streaming platform to pick up millions of new subscribers worldwide.

Netflix reported on Tuesday (October 19), per The Korea Timesthat it saw 4.38million new subscribers across the globe for the period of July to September, to reach a total of 213.6million worldwide. The figure is well above the 3.86million new subscribers Wall Street analysts had projected, according to data from Refinitiv.

The rise in global Netflix sign-ups coincided with the release and rapidly-growing popularity of South Korean survival series Squid Game, which premiered as an exclusive on the platform on September 17. The streaming platform also noted that over “142million member households” have seen the series so far.

Advertisement

The sudden boom in subscribers comes after a slow-down in sign-ups in the first half of 2021, despite Netflix subscriptions having seen massive increases last year due to the COVID-19 pandemic.

However, as CNBC, noted only 70,000 of Netflix’s new subscribers came from the US or Canada, further showcasing the company’s stalled growth in the North American region. The publication cites this as part of the reason why Netflix has started to venture into video gaming.

Earlier this week, Bloomberg reported that the success of Squid Game has generated US$891.1million in “impact value” for the company, which is a metric Netflix uses to measure a title’s performance.

Meanwhile, Squid Game has since become Netflix’s biggest series launch ever, after reaching 111million fans worldwide. It has also topped Netflix charts in over 94 countries, including the US and UK, according to the streaming giant.

Advertisement
Advertisement