Video-streaming mogul, Netflix, will prosper by over $900 million (roughly Rs.6780 crore) thanks to the global hit show, ‘Squid Game’, a set of internal documents reported by Bloomberg, Bloomberg reported. ‘Squid Game’ has taken the world by storm since its launch and has become the number one show worldwide on the California-based streaming platform.
Documents obtained by Bloomberg also reveal the markers Netflix uses to rate shows and crown the one that has the potential to break the charts. However, these metrics are highly confidential, and the company does not like to share these metrics with the press. While many markers are kept in the dark, Netflix released some data about the performance of the Korean show and its hold on viewers.
According to data released by the streaming platform, around 132 million people have watched at least two minutes of the show in the first three weeks, surpassing the former number awarded by American show ‘Bridgeton’. Another piece of data shows that people have spent a total of more than 1.4 billion hours watching the show. The show has been watched by 87 million people from the beginning of season 1 till the end.
Another interesting fact that has emerged from the documents is that the cost of producing the show was only $21.4 million or Rs 160 crore. This brings the show’s impact cost to $891.1 million. Impact cost is a metric used by streaming platforms to judge the performance of a show in terms of the monetary addition brought by the show to the overall valuation of the company.
According to a Bloomberg report, following the success of the Squid game, the company’s shares saw an increase of about 7 percent, valuing the company at $278.1 billion. In addition, the production cost of the show is estimated to be lower than that of Dave Chappelle’s Netflix special, “Sticks and Stones”, which had a runtime of approximately one hour.
Other metrics that Netflix uses to assign internal ratings to its shows include adjusted view share (AVS), which affects viewer value. According to this value, show viewers who are new to the platform’s services or are not frequent users, are more valuable to the platform as they are indicators that the show is able to capture a new base of viewers.
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