Netflix’s Squid Game Season 2 initially received mixed reactions, but it quickly defied expectations, becoming a massive global hit and solidifying its status as a cultural phenomenon.
The second season of Squid Game shattered viewership records, becoming the most-watched content on Netflix during its debut week. After its release on December 26, the series garnered an astonishing 68 million views worldwide in just four days. With 487.6 million viewing hours — roughly 7 hours and 10 minutes per viewer — it set a new standard for Netflix’s most-watched series premiere.
Amid rising excitement for Squid Game Season 3, Netflix Korea stirred further curiosity by briefly posting a teaser poster with a release date, only to remove it, leaving fans eagerly speculating quickly.
On Wednesday, Netflix Korea’s official account shared a video: “The games with Young Hee and Cheol Su are far from over. Squid Game Season 3, coming in 2025. Only on Netflix.” However, the post was swiftly deleted, adding to the buzz and heightening anticipation for the upcoming season.
The teaser featured the show’s iconic mascot, Young Hee while introducing a new character, Cheol Su, sparking intrigue among viewers.
Young Hee, the haunting doll from the Red Light, Green Light game in Seasons 1 and 2, has become synonymous with the show’s terrifying eliminations. With his eerie, camera-like gaze, Cheol Su will likely play a similarly ominous role, suggesting yet another brutal game awaits in Season 3.
Netflix first uploaded the teaser to YouTube, along with the description: “Watch Squid Game on Netflix, June 27.” However, the video was quickly made private, leaving fans wondering what’s next.
Netflix has yet to explain the removal, intensifying fans’ curiosity about what’s to come.
Squid Game Season 2 Expected to Rake in Over Approximately $1 Billion
Industry experts project that Squid Game Season 2 could generate a staggering 1.5 trillion won (roughly $1 billion) in revenue, setting the stage for even higher expectations for future seasons.
A recent analysis by K Entertainment Hub compared the performance of Seasons 1 and 2. It revealed that the first season, produced on a modest budget of 25 billion won (around $17 million), generated about 1 trillion won (roughly $681 million) in revenue—an extraordinary 40-fold return on investment.
While Season 1 took eight days to climb to the top of Netflix’s global rankings, Season 2 made an explosive debut, reaching #1 in TV show ratings across 93 countries within just two days of its release. The show earned a perfect score of 930 points on FlixPatrol, further cementing its global dominance.
Season 2’s production budget was approximately 100 billion won (about $68 million), quadrupling the cost of its predecessor. Based on Season 1’s trajectory, analysts predict that Season 2’s revenue will exceed 1.5 trillion won (around $1 billion).
Han Jung Hoon, CEO of K Entertainment Hub, commented, “While Season 2 may not replicate the astronomical 40x return of Season 1, we’re still looking at a minimum 10-fold return on investment. Beyond direct profits, we expect to see positive effects on Netflix’s stock price and subscriber growth, further cementing South Korea’s role as a key player in shaping global content strategies.”
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