Korean drama or drakor Squid Game has made the US $ 891.1 million or Rp. 12.59 trillion (exchange rate of Rp. 14,130). Netflix estimates that the first season of the series will earn US$900 million or Rp. 12.71 trillion.
The income from Squid Game has far exceeded its production costs. Each episode of one of the most popular series on Netflix costs around US$2.4 million (Rp33.9 billion) per episode. Thus, 9 episodes featuring Gong Yoo and raising Jung Ho Yeon’s popularity cost about US$21.4 million (Rp302.38 billion).
As is well known, Squid Game tells the story of a group of Korean people who are in debt and then decide to participate in a survival game similar to The Hunger Games in the hope of getting a big cash prize.
Despite the fact that the story idea of the film is arguably not very original, Squid Game has become a milestone for Netflix. One of the most popular digital streaming media service providers in the world has reaped the rewards after previously increasing investment in the Asian market, particularly South Korea.
Netflix along with a number of filmmakers in Asia, including South Korea have produced original content. In addition, the company has also acquired studios and built a talent training base in line with the slowing growth of the US market.
For the record, Netflix has invested about 770 billion won (US$645 million) in South Korea since entering the country in 2016. The investment has created about 80 original series and films. In February, Netflix revealed plans to spend $500 million on original content in South Korea this year.