20th Day Over 132 Million Viewers Watching More Than 2 Minutes
87 Million Binge-Watchers... Total Viewing Time 159,817 Years
Netflix has estimated the value of its original drama 'Ojingeo Game' (Squid Game) at $891.1 million (approximately 1.0546 trillion KRW).
According to internal Netflix documents revealed by Bloomberg on the 16th (local time), the production cost of this drama was $21.4 million (about 25.3 billion KRW). At $2.38 million (about 2.8 billion KRW) per episode, it is significantly lower than other popular works such as 'Gimyohan Iyagi' (Stranger Things) at $8 million and 'The Crown' at $10 million. However, it generated a value exceeding 1 trillion KRW, recording 41.7 times in the internal metric called 'impact value.'
The basis for this overwhelming efficiency lies in the number of viewers and viewing time. From the 17th of last month over twenty days, 132 million people watched 'Ojingeo Game' for more than two minutes. Among them, 89% watched at least one full episode. Sixty-six percent (87 million people) watched all nine episodes until the end. Globally, viewers spent 1.4 billion hours watching this drama, which amounts to 159,817 years.
'Ojingeo Game' also scored 353 points in another internal metric called 'Adjusted Viewing Share (AVS).' AVS indicates circumstances where users subscribed newly to watch the content or did not cancel their subscription. The more frequently users who rarely use Netflix or newly subscribed watch the work, the higher the score. Usually, a score of 9 to 10 points is considered high.
Netflix has never disclosed such information even to the creators of the works. They only shared viewership measurement metrics for some titles. Recently, Netflix fired an employee who leaked this information on charges of 'company confidential information leakage.' A representative stated, "Maintaining a culture of trust and high transparency is important."
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