Lee Jung-Jae’s Squid Game made a significant impact upon its release, quickly becoming a cultural phenomenon. The series offered an innovative concept with a gripping narrative, distinctive visuals, and a tense, captivating pace, establishing it as one of the most successful television series ever. Given its massive success, it’s not surprising that the show has been renewed for a second season. Fans eagerly await its return and the continuation of the story.
However, Netflix’s predatory scheme ended up forcing Lee Jung-Jae into a horribly low paycheck while Netflix ended up earning at least close to a billion dollars.
Squid Game’s Creator Got Little to Nothing While Netflix Earned The Lion’s Share
Squid Game quickly became a global sensation after its release, providing Netflix with a highly successful and profitable series. Despite the show’s modest production cost of around $2.4 million per episode compared to other high-budget Netflix series like Stranger Things season 4 (which cost approximately $30 million per episode), the series had a significant impact on Netflix’s financial growth. According to the Los Angeles Times, the show’s success increased Netflix’s company value by around $900 million.
However, the series creator, Hwang Dong-hyuk, did not benefit as much from the show’s success due to his contract with Netflix, which involved forfeiture of all intellectual property rights and residuals. This arrangement means Netflix continues to profit from the show while the creative team behind Squid Game does not receive residuals.
Despite this, Netflix has honored their commitment to Hwang Dong-hyuk, reportedly providing him with a lucrative deal for Squid Game season 2. Hwang is also a vocal advocate for legal changes that would mandate residuals for film and television creators.
“I ask you to look beyond the short term and approach this as a step toward nurturing the entire ecosystem,” Hwang said in a recorded video delivered to the National Assembly. “In order for there to be the next ‘Squid Game’ or the next ‘Parasite,’ the livelihoods of creators must be ensured.”
He believes this is crucial for nurturing the industry and ensuring the livelihood of creators so that groundbreaking works like Squid Game and Parasite can continue to be produced in the future.
Squid Game Season 1 Was A Massive Success
Season 1 premiered in September 2021 and quickly became a global sensation, topping Netflix’s most-watched series list in 94 countries. The show accumulated an impressive 1.65 billion viewing hours within the first four weeks of its release and generated nearly $900 million for Netflix.
The series garnered significant acclaim for its innovative plot and compelling storyline, earning multiple awards and nominations. Notably, Squid Game received 14 Primetime Emmy Award nominations and made history as the first non-English language series to be nominated for Outstanding Drama Series at the Primetime Emmys.
Squid Game follows the story of 456 financially struggling individuals who participate in a high-stakes, deadly competition. The winner stands to receive nearly $35 million, while the losers face lethal consequences. The show features Lee Jung-jae in the lead role as Seong Gi-hun.
The first season of Squid Game is available for streaming on Netflix.
