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Netflix refutes research organization's profit predictions for 'Squid Game' season 2

Published: 02 Jan. 2025, 13:11 Updated: 02 Jan. 2025, 14:20

A still from ″Squid Game″ season 2 [NETFLIX]

Netflix refuted the claims made by a Korean research organization that the streaming platform would yield a profit of over 1.5 trillion won ($1.02 billion) through the second season of its mega-hit series "Squid Game” (2021-).

Media research institute K EnterTech Hub forecast that Netflix's original series "Squid Game" season two would make a profit of at least 1.5 trillion won, which is approximately 10 times the production cost.

The platform released a press release stating that "there are discrepancies between the facts and the research group's analysis of the financial returns from Squid Game season two."

"It is not feasible to assess profits based on the success of one single production."

"The sales analysis approach is more suitable for VOD services that rely on box office performance or one-time movie ticket sales," Netflix said. "This does not apply to subscription-based services where members pay a fixed amount monthly to access content indefinitely."

"We are worried about the dissemination of misleading information due to flawed analysis or assertions, which could greatly misrepresent the corporate's revenue structure,” Netflix added.

According to Netflix on Thursday, "Squid Game" season two became the most-viewed program on the platform during its opening week.

The Korean series achieved over 480 million viewing hours according to Netflix's Global Top 10 rankings for the week ending Sunday.

This number not only solidified its position as the leading show in the non-English TV category but also surpassed the viewing hours of titles in both the English TV category and across all film categories, English and non-English, during the same period.

BY YOON SEUNG-JIN [[email protected]]