Streaming giant Netflix Inc NFLX had a Christmas to remember with strong viewership for its debut National Football League games and the highly anticipated second season of "Squid Game."
What Happened: Released on Dec. 26, the second season of "Squid Game" had 68 million views ranking first for the week for Netflix's non-English TV list and setting a new record.
The series ranked number one in 92 countries. It is also the most-watched show in its premiere week in Netflix history. It beat a previous record set by the first season of "Wednesday" in 2022 at 50.1 million views.
Netflix's list of top shows for the week covers the period of Dec. 23 through Dec. 29 with the second season of "Squid Game" releasing on Dec. 26 and not available for the full week.
Netflix subscribers watched the second season of "Squid Game" for over 487.6 million hours in its debut week. The first season ranked third among non-English TV series with 8.1 million views.
Along with "Squid Game" posting a big win for Netflix, two Christmas Day NFL games ranked as the top watched English language shows for the week. The two NFL games are the most-streamed in league history.
Netflix movie "Carry-On" ranked number one for English-language films for a third straight week with 34.9 million views.
Why It's Important: The second season of "Squid Game" already ranks as the seventh most popular non-English TV show in Netflix history. And it could be on its way to setting more records.
The show’s first season had 265.2 million views on Netflix and more than 1.65 billion hours watched in its first four weeks.
Netflix credits the popularity of the new season for helping the company's new multiplayer video game "Squid Game: Unleashed" become the top action game in 57 countries. In Netflix's video game push, this could be one of its biggest launches in recent history.
Investors and analysts will peruse Netflix data to see if "Squid Game" can continue its success beyond the next three weeks as it climbs the company's all-time charts.
Netflix will release a third and final "Squid Game" season in 2025, adding to the future catalysts of the streaming company.
Netflix will report fourth-quarter financial results on Jan. 21. Whether NFL and "Squid Game" viewership translated to new Netflix subscribers or if the programs were simply watched under existing accounts remains to be seen.
Netflix is also putting a focus on advertising revenue through its ad-supported plans. Investors and analysts will likely look for company commentary on how much ad revenue Netflix made from the NFL games and "Squid Game" and what this means for future events or show premieres.
Price Action: Netflix stock was down 1% to $891.32 on Tuesday versus a 52-week trading range of $461.86 to $941.75. Netflix stock was up 90.3% in 2024.
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