Netflix boosted by Squid Game

Netflix expects to have added 8.5 million new subscribers added in the next quarter, thanks to the success of Squid Game.

Whilst previous expectations were 8.3 million, the South Korean show that came out earlier this month has been the most-streamed original show.

It has been estimated that the show will create almost $900 million in value for Netflix.

“Like some of our other big hits, Squid Game has also pierced the cultural zeitgeist, spawning a Saturday Night Live skit and memes/clips on TikTok with more than 42 billion views,” said the company.

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Shares in Netflix have grown three percent, whilst revenue at the group has also increased 16 percent to $7.5bn.

Netflix co-CEO Reed Hastings said: “We’re in uncharted territory. We have so much content coming in Q4 like we’ve never had, so we’ll have to feel our way through and it rolls into a great next year also.”

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