Netflix estimates that Squid Game will create almost $900 million in value for the company, which is nearly 40 times the amount the show cost to produce.
According to an internal Netflix document seen by Bloomberg, the South Korean survival drama has generated $891.1 million in "impact value," which is a metric the company uses to assess the performance from individual shows, including the likes of Bridgerton which was the streaming service's most-watched series launch before Squid Game knocked it off its perch.
The confidential document also reportedly revealed that the nine-episode thriller, which hit Netflix on September 17, cost just $21.3 million to produce, making it approximately $2.4 million per episode, which is considerably more cost-efficent than some of Netflix's other major shows such as Stranger Things and The Crown.
In addition, the report shared some updated data in regards to Squid Game's total viewer figure, with it now being reported that about 132 million people watched at least two minutes of the show in its first 23 days on the platform. It was previously announced that the dystopian series had reached 111 million people, making it the biggest ever launch for Netflix.
Despite the show's seemingly overnight success, Squid Game was in development for 10 years as the director tried and failed to get the story made for the screen. And when Netflix finally went ahead and produced the show, director Hwang Dong-hyuk revealed the intensity of the shoot caused him to lose six teeth to stress.
The magnitude of production and the extremity of the experience may have taken its toll on Hwang, but it hasn't totally discouraged him from thinking about a second season. He has already indicated that, should it be greenlit, Squid Game's sophomore season might not be about the contestants as he would like to further explore the role of the Korean police.
IGN awarded Squid Game a 9 out of 10, calling it "one of the most exciting series to hit Netflix in some time." We praised the way it unravels the story to deliver "a white-knuckle thriller, drama, and episodic psychological breakdown with a sickly pastel veneer," which is "equal parts gut-wrenching and squirm-inducing" for both the players and the audience.
Adele Ankers is a freelance writer for IGN. Follow her on Twitter.