‘Squid Game’ stock rises to 24% after Netflix announces season 2
*For Netflix, this could be a major breakthrough as the company presumes that a second season could be a viable plan to recoup from its unanticipated decrease in subscribers
Online streaming platform, Netflix has announced that a second season of South Korean drama, ‘Squid Game‘ is underway. With this new announcement, Bucket Studio Co, the agency that has a stake in the drama series and represents the lead actor, has climbed by more than 24% in Seoul, while the Asian stock market has fallen.
This is because the series made the Korean drama industry more recognised, prompting other global players to invest in local language titles and original series to entice subscribers. This is building from the first season, which was a massive success.
For Netflix, this could be a major breakthrough as the company presumes that a second season could be a viable plan to recoup from its unanticipated decrease in subscribers. The company reported a sharp drop in subscribers in the first quarter of 2022, with a net loss of 200,000 streaming clients, and as a result, the company’s value dropped by $54 billion on April 20.
‘Squid Game’ is a South Korean TV series created by Hwang Dong-hyuk for Netflix. Its cast includes Lee Jung-jae, Park Hae-soo, Wi Ha-joon, HoYeon Jung, O Yeong-su, Heo Sung-tae, Anupam Tripathi, and Kim Joo-ryoung.
It is a series involving 456 players in a survival game. The players are all motivated by the fact that they are financial incapacitated, and would risk their lives to play to win ₩45.6 billion (US$38 million, €33 million, or GB£29 million as of broadcast) prize.
‘Squid Game’ 1 was released worldwide on September 17, 2021.
Netflix says it could lose another two million subscribers in the second quarter of this year, and a hit show film series like ‘Squid Game’ might be able to stave off a huge slump loss this year.
According to a Bloomberg report, the first season of the South Korean drama ‘Squid Game’, which was also Netflix’s hit show after the company claimed the series became its biggest series launch ever, reaching about 82 million households in its first 28 days on the platform, was worth nearly $900 million in impact value while costing Netflix only $21.4 million to produce.
Following Netflix’s announcement of the upcoming Squid Game season 2, there have been some highlights of what will most likely happen in the new season. Despite the fact that the drama series’ director, Hwang Dong-hyuk, told the world that the first season took 12 years to complete, it is unclear how long the second season will take.
We are working on the script right now and making the form of the story. But there’s definitely a lot of pressure on how to make [Season 2] even better. I know that a lot of the different fans and audiences have enjoyed the series very much, but really we’re focusing on how to make it even more joyful to the global audience.”
Executive producer, Kim Ji-yeon
The producer has confirmed that viewers will most likely see some familiar names in the new season, including Gi-hun, the champion from the previous season. He also stated that Young-hee, the infamous assassin doll, will return in the new season with her lover, Cheol-su, and that viewers will see some of their most amorous scenes.
