Over 130 million people tuned in to watch the South Korean show.
Netflix’s latest megahit, “Squid Game,” is expected to gross nearly $900 million, demonstrating the unpredictability of a single megahit in the streaming era.
“Squid Game’s” low price reflects its popularity. According to the company’s metric for evaluating individual show success, the South Korean show about human debtors competing for a life-changing cash prize won $891.1 million.
There have been over 1.4 billion hours of viewing recorded.
Unlike movie studios and television networks, Netflix does not profit from specific titles; instead, its large catalog and weekly release announcements attract customers. The company has a wealth of data on what its customers watch, which it uses to assign a monetary value to various shows.
The company refuses to share more detailed information with the press, investors, or even its own program creators, despite having self-selected viewing figures for a number of TV shows and films.
“Through its efforts to internationalize content, we believe Netflix has discovered a smart and profitable strategy, and ‘Squid Game’ is a great example,” said Wedbush Securities analyst Michael Pachter.
“Squid Game” received a 353 rating on the Adjusted Viewing Share – AVS scale, indicating not only how many people watched it but also how valuable those viewers are. Viewers who are new to Netflix or use it infrequently are regarded as more valuable because their presence indicates that the shows they are watching have not been canceled as a result of their presence.
The AVS score indicates the show’s long-term impact value. Netflix evaluates shows based on employee feedback.