Squid Game Season 2 premiered on December 26 and has already surpassed its predecessor’s viewership record. According to Netflix’s official site, Netflix Top 10, the show accumulated an astonishing 487.6 million hours of viewing time during the fourth week of December (December 23-29).
In its opening week, Squid Game Season 2 attracted nearly 500 million hours of global viewership and became Netflix’s most-watched content. According to Netflix’s official content news site, Tudum, the series earned 68 million views on the non-English TV rankings from December 23 to 29 and topped the charts in 92 countries.
The show reached #1 in countries like the United States, France, Japan, India, and Australia. Industry analysts predict that Squid Game Season 2 could generate at least 1.5 trillion won (approximately $1.1 billion) in revenue.
Media research firm K-Entertech Hub stated, “Season 1 cost about 25 billion won (roughly $17 million) to produce and generated around 1 trillion won (roughly $688 million) in revenue. Given that Season 1 took 8 days to hit #1, we estimate that Season 2’s revenue will be at least 1.5 trillion won.”
On Wednesday, Netflix thanked global audiences for supporting Squid Game Season 2, which has topped the charts worldwide. The streaming giant said, “We deeply appreciate the worldwide interest and support for the proud Korean creation, ‘Squid Game’ Season 2.” Netflix also addressed a report from a domestic research organization regarding the revenue generated by Squid Game Season 2, clarifying that the analysis was inaccurate and reaffirming Netflix’s official stance.
With the overwhelming success of Squid Game Season 1, Season 2 has continued to generate significant buzz and has prompted numerous discussions regarding its potential revenue impact. However, as a subscription-based service, Netflix does not generate additional profits based on the number of views or hours watched for individual titles. They explained that it is not possible to calculate revenue based solely on the success of a single show.
The company further emphasized that no official data exists to estimate financial earnings from individual shows. They stated that they do not assess show performance in this manner and cannot do so.
Netflix added that estimating additional earnings for individual titles is more suited to box office performance or pay-per-view VOD services. They clarified that this model does not apply to their subscription-based service, where members pay a fixed monthly fee for unlimited access to content.
Meanwhile, much like the dalgona candy challenge from Squid Game Season 1 became a viral sensation, Squid Game Season 2 is igniting a growing interest in the traditional Korean game of gonggi (similar to jacks). This surge in popularity has led to a noticeable uptick in demand for gonggi-related products on global online retail platforms like Amazon over the past month.
Users have posted messages on Reddit, such as, “I want to buy a gonggi.” “Where can I order a gonggi?” “I bought a gong set for $8 on Amazon.” and “I think gong gi sales are going to explode.”
In response, Radio Times commented, “Due to its rules, this may be the most perplexing game featured in Squid Game Season 2 for Western viewers.” The magazine added, “The game’s charm lies in its accessibility. It can be played with small, round objects like stones, pebbles, dice, or marbles.”
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