Though it comes as no surprise given the show’s unprecedented success, a second season of the Korean drama Squid Game is in the works at Netflix, according to the streaming giant’s co-CEO and chief content officer Ted Sarandos.
Sarandos said during a discussion of Netflix’s fourth-quarter earnings, “The Squid Game universe has just begun,” and replied “absolutely,” when asked if the show would be getting a second season.
The show’s creator Hwang Dong-hyuk told the Associated Press in November that Squid Game would “indeed” be getting a second season, but Sarandos’ confirmation is the first word from a Netflix official.
Hwang said that actor Lee Jung-jae will return as the show’s protagonist, Seong Gi-hun.
Netflix said in November the show generated 1.65 billion hours viewed in its first four weeks on the platform.
In the company’s third-quarter earnings letter in October, it reported Squid Game had reached 142 million member houses, making it its biggest show ever.
Leaked Netflix estimates seen by Bloomberg in October said the show would create nearly $900 million in value for the streaming giant.
The show’s popularity hasn’t translated to a huge spike in subscribers the way shareholders would hope. Netflix gained 4.4 million net subscribers in the quarter Squid Game was released, with just 70,000 coming from the U.S. and Canada. The company’s fourth-quarter earnings report, which showed a continued dip in subscriber growth compared to its early-pandemic success, contributed to a 20% drop in its stock price in after-hours trading Thursday.
WHAT TO WATCH FOR
Hwang said in November the show’s season 2 release date was unclear: “I do think it’s too early to say when and how that’s going to happen,” he told the AP.
By Mason Bissada, Forbes Staff