19 Oct 2021
Megahit "Squid Game" adds $900 Million Value to Netflix in just 27 Days
The Index Today
Megahit South Korean drama series "Squid Game" has led the investors to bet on Netflix Inc and plans to explore more international content to boost slowing subscriber growth.
Reuters reported that with a 111 million-strong fan base in just 27 days after its release, Squid Game has become Netflix's biggest original show launch ever, underpinning its efforts to ramp up investments in overseas content.
Guggenheim analysts said in a client note that "We continue to view international expansion as a key driver of subscriber growth, particularly in less-penetrated, emerging markets."
In the first half of the year, Netflix had reported its slowest growth of subscriber since 2013 due to the coronavirus worldwide spread.
International shows like "Money Heist", "Lupin" and "The Crown" have drawn cross-border fame and several Emmy award nominations, helping steady the overseas subscriber growth.
MoffettNathanson analysts said in a research note said that, "The streaming wars, as they currently stand, are not a battle to unseat Netflix within viewers' homes, but rather to earn a place alongside the red giant."
Bloomberg News reported that "Squid Games" would add about $900 million to the company's value, citing internal documents.