The video-streaming mogul, Netflix, will be $900 million (roughly Rs. 6780 crore) richer, thanks to the global hit show, ‘Squid Game', a set of internal documents has revealed, reported Bloomberg. ‘Squid Game’ took the world by storm since its launch and has become the number one show on the California-based streaming platform across the world.
The documents obtained by Bloomberg also reveal the markers that Netflix uses to rate the shows and crown the one that has the ability to shatter the charts. However, these metrics are highly confidential, and the company does not prefer sharing these metrics with the press. While many markers are kept in the dark, Netflix released some data regarding the Korean show’s performance and its grip over the viewership.
According to the data released by the streaming platform, roughly 132 million people have watched at least two minutes of the show in the first three weeks, surpassing the former number honed by the American show, ‘Bridgerton.’ Another piece of data reveals that people have spent more than 1.4 billion hours cumulatively while watching the show. As many as 87 million people have watched the show from the start to the end of season 1.
Another interesting fact that has surfaced from the documents is that the show’s production cost only $21.4 million, or Rs.160 crores. This brings the impact cost of the show to a monumental $891.1 million. Impact cost is a metric used by the streaming platform to judge a show’s performance in terms of the monetary addition the show brings in the overall evaluation of the company.
After the success of Squid Game, the company’s shares saw a rise of roughly 7 percent, pushing the value of the company at $278.1 billion, reported Bloomberg. In addition, the show’s production cost is estimated to be lower than that of Dave Chappelle’s Netflix special, “Sticks and Stones,” which had a runtime of roughly an hour.
Other metrics that Netflix uses to provide an internal rating to its shows include Adjusted View Share (AVS), which factors in the viewers' value. According to this value, the viewers of the show, who are new to the platform's services or are not frequent users, are more valuable to the platform since they are the indicators that the show is able to catch hold of a new base of audience.
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