‘Squid Game’ ramps up Netflix’s overseas growth

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Megahit gives investors reason to bet on streaming giant’s plans

The Netflix series ‘Squid Game’ is played on a mobile phone in this illustration. Picture: REUTERS/KIM HONG-JIhas led investors to bet on Netflix’s plans to explore more international content to boost slowing subscriber growth.

“We continue to view international expansion as a key driver of subscriber growth, particularly in less-penetrated, emerging markets,” Guggenheim analysts said in a client note. Netflix has lost a lot of market share since the onset of the pandemic as newer, more exclusive platforms gained quick popularity from stay-at-home entertainment seekers. and raised its share of the global streaming pie by 75% this year, according to research firm Parrot Analytics.

Meanwhile, AT&T-owned HBO Max raised its global subscribers forecast to 70-million to 73-million by July, indicating the preference to stream content-on-demand is here to stay. International shows likehave drawn cross-border fame and several Emmy award nominations, helping steady the overseas subscriber growth.

 

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