Streaming giant Netflix Inc NFLX enjoyed success with the release of "Squid Game" in 2021, a hit Korean dystopian sci-fi series.
The company launched a reality series of "Squid Game," has a sequel in the works and could have an English-language version coming as well.
What Happened: There was a time in 2021 when it was rare to find a person who hadn't watched "Squid Game." The series dominated streaming charts, saw consumer product launches and was a top Halloween costume idea for the year.
A reality series launched in 2024, which came after YouTuber MrBeast launched his own real-life version of the series, which is his most viewed video.
Netflix plans on releasing the second season of the hit show, which remains its most-viewed series of all time, in the second half of 2024.
A look at the chart below from Benzinga Pro shows that despite the success of "Squid Game," Netflix shares are nearly flat from the time "Squid Game" was released.
This is likely due to several factors, including Netflix being one of several stocks that benefitted from the COVID-19 pandemic with more people at home enjoying streaming platforms, instead of going to movie theaters.
Netflix hit an all-time high in November 2021 before declining for several years.
A rumor for years, an English language "Squid Game" series could be on its way and a catalyst for Netflix investors to keep an eye on.
The series would come from award-winning director David Fincher, best known for movies like "Fight Club," Se7en," "Zodiac" and "The Social Network.
Fincher has pivoted to the "Squid Game" series according to a report from The Playlist, which comes as he is also working on a prequel series to "Chinatown."
The "Chinatown" series is set to come to Netflix as part of Fincher's deal with the streaming platform, which was extended earlier this year. Fincher has helped work on Netflix series that include "Mindhunter," "House of Cards" and "Love, Death & Robots."
According to the report, Fincher has been working on the "Squid Game" English-language version for several years and it remains one of his key projects.
Netflix has not confirmed that an English-language version of "Squid Game" is in the works. Netflix executives have also downplayed the potential of an English-language version as the series is still in the works for the second season.
Related Link: Netflix Q1 Earnings Highlights: Revenue Beat, EPS Beat, 9.33 Million Paid Subs Added, Ad-Tier Plan Update And More
Why It's Important: Whether an English-language version of "Squid Game" comes to Netflix, it could be a cherry on top to the already strong anticipation for more content for the hit series.
The second season is one of the most anticipated Netflix series launches of all time and comes as the streaming giant continues to pump out hit series and movies and dominate the sector.
Netflix will report second-quarter financial results on July 17, which could include details on "Squid Game" season 2 and updates on other hit franchises. The earnings could also highlight the company's progress with its ad-supported plan.
The chart below from Benzinga Pro shows that Netflix shares are up over 60% in the past year and up 39% year-to-date in 2024.
With or without a "Squid Game" remake, Netflix is likely to remain a streaming leader for the future.
NFLX Price Action: Netflix shares closed Thursday’s trading at $684.34 versus a 52-week trading range of $344.73 to $689.88, according to data from Benzinga Pro.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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