With what began as a movie script expanded into a TV series, the ever-growing Squid Game universe is Netflix’s most profitable gamble with foreign content. Whether a game of chance, luck, or well-thought-out strategy, the South Korean series was an instant hit. Irrespective of audience-polarized views about the show and/or its propagation of capitalism, there’s no denying the addictiveness of the series.
In examining the growth of the Squid Game universe, several factors have contributed to its success. Even in countries where Netflix is officially unavailable, Squid Game has become one of television’s most talked-about shows. With over 1.65 billion hours recorded within the first 28 days of release in September 2021, Squid Game may have revolutionized television as we once knew it.
The Squid Game Universe Survives On Its Relatability
Having over 142 million member households stream the original Squid Game TV series on Netflix in 28 days (after its release) is more than just sheer luck. At the root of Squid Game‘s plot lies stories that most viewers could relate to. At its best, Squid Game was an allegory about modern capitalist society. Whether or not we choose to be active players, much like the rules in the game, a majority (despite having the power) will always refuse to quit playing.
The South Korean Squid Game series offered 456 players (all having financial troubles) a chance at winning ₩45.6 billion. The winning prize, irrespective of the audience’s geographical location, was large enough to test human morals, greed, and cruelty. Although adding ₩100 million to the piggy bank after a player dies should have certainly turned off most viewers, Squid Game was set up as a fight for survival. If players no longer wanted to play the game for its monetary gains, they would have to play it for a chance to live.
All the games shown in the Squid Game series were common kid’s games. Although they became more popular after the series’ success, Ddakji, Red Light, Green Light, Dalgona, Tug of War, Marbles, The Glass Tile, and Squid Game are all South Korean childhood games. The ease and fun of playing these games lured players (and viewers’ attention) into thinking they could win. Before audiences could play the moral judge for characters, Squid Game introduces backstories and plots to help justify each character’s actions.
Bridging the Gap with a Mirrored Reality Competition Show
With the success of Squid Game season 1, there were early talks for a second season. As expected, audiences were divided on whether it was a good call, especially since its creator and director, Hwang Dong-hyuk, didn’t initially plan for a follow-up season. However, Squid Game season 2 was officially greenlit for production in June 2022. With no officially announced scheduled date for release, there are expectations that season 2 will premiere sometime in 2024.
Regardless, taking advantage of the growing Squid Game universe, Netflix, in collaboration with Studio Lambert and The Garden, chose to produce and release Squid Game: The Challenge in November 2023. Whether they’re testing the waters or not, the success of Squid Game: The Challenge has proven that anything Squid Game will resonate positively with audiences. Thankfully, Squid Game: The Challenge strips the original series of its gore, violence, and death. To add the icing on the cake, Squid Game: The Challenge offers the largest single cash prize in the history of game shows. The nostalgia of the games immediately put players and audiences at ease and with a better reception of the game show.
Except for a change in the third game (from Tug of War to Warship), Squid Game; The Challenge season 1 closely mirrors its original series. Players (with envious viewers) are able to battle for a cash prize of $4.56 million without the guilt or burden of winning “blood money.” However, what players and audiences failed to realize at the start of the game show was that despite Squid Game: The Challenge devoid of death, violence, or blood, betrayals, greed, self-centeredness, and eliminations could produce a somewhat similar experience.
Exploiting the Profitability of the Squid Game Universe
Squid Game: The Challenge became Netflix’s most-watched show globally, with over 85.7 million hours in the week of its release in November 2023. The competition show peaked at Number 1 in 74 countries on Netflix charts, sitting in the Top 10 of 19 other countries. At this point, this is more than just rolling the dice. If anything, Netflix has struck gold with the Squid Game universe. While there may still be lingering doubts about the success of a sophomore Squid Game season, as a competition show, Squid Game: The Challenge holds so much potential for expansion. The released Squid Game: The Challenge season 1 was produced in the United Kingdom. There are already talks of international expansion to several other countries.
While critics of the Squid Game universe have faulted its existence on propagating capitalism, its success may be the needed catalyst to help raise awareness. Excluding the profitability of Squid Game merchandise sales, Netflix is looking at a gold mine with an immersive Squid Game universe. It would come as no surprise if Netflix began exploring options for more spin-offs, prequels, sequels, and game shows. However, as easy as it is to ride on its success, it’s also easy to get blinded by it and have it all crashing down. The Squid Game universe will remain successful for Netflix, as long as it focuses on its authenticity, relatability, and audience satisfaction instead of pursuing profits.
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