Last week Netflix announced that the Korean series The Squid Games is the most watched series since its inception. In Israel, too, the series became very talked about in a short time. The streaming giant estimates that the series will increase the company’s value by almost $ 900 million, Bloomberg reported today (Sunday).
Unlike movie studios and TV networks, Netflix does not make a profit from specific titles, but from monthly subscriptions. The more attractive the library, the more users it will attract. Despite this, the company holds viewing data that allows it to determine the value of any series or movie. The company keeps this data confidential and does not publish it.
The document arrived at the Bloomberg system with the data and Netflix estimates. “Squid Games” also stood out for its popularity, relative to its relatively low production costs. According to reports, the South Korean series whose plot deals with people who got into debt and subsequently joined a contest in which they compete for a cash prize in children’s games – with only the latter surviving, will generate another $ 891.1 million worth for Netflix.
Production costs totaled only $ 21.4 million, about $ 2.4 million per episode. These estimates relate to the first season only. According to data already released by the streaming giant, some 132 million households watched at least two minutes of the series in the first 23 days since its launch.
Last weekend, Netflix announced that Petra was working to share confidential documents with media outlets, after another Bloomberg article revealed the company’s estimated revenue from Dave Shappel’s special comedy. The article in which the information was published dealt with employee complaints about how the company handled insensitive comments towards transgender people.
“We understand that the employee’s motivation to leak the documents was probably out of disappointment and hurt from Netflix,” the company said. “But preserving the culture of trust and transparency is at the core of our society.”