The company’s stock has rebounded to record highs. That pessimism evaporated in September thanks to Netflix’s triumph at the Emmys and its string of recent hits. This chart means that Netflix has about 46% of the original programs people want to watch on the internet. Netflix is still the top dog, but its control over our attention has slipped. HBO Max, Hulu, Apple TV+, Disney+ and Amazon all now account for at least 5%.
Netflix’s share of global demand for original series hit a new low in the third quarter, per Parrot Analytics. Netflix recorded its weakest first half of the year since 2013, and has faced growing investor doubts about its future. Its stock was down for the year in mid-August, and its slate of shows in the third quarter had done little to inspire confidence before September. These hits couldn’t have come at a better time. There’s “La Casa de Papel” from Spain, “Sex Education” from the U.K.
Watching shows with subtitles or dubbing is now quite common. The three most-watched shows on the most popular TV network in the world last month all hail from overseas. Foreign languages movies were reserved for specialty theaters. Few, if any, foreign language TV shows were airing on major broadcast networks. When I was growing up, I watched a handful of foreign movies a year, and maybe an anime series here or there. It will be globalizing the entertainment business, creating a platform for people from more than 190 countries to watch stories from all over the world. When all is said and done, Netflix’s greatest impact on pop culture will not be allowing us to “binge watch,” or stream TV on-demand. This is the first Korean show to break through on this scale, and it is driving millions of new viewers to other East Asian series like “Sweet Home” and “Alice in Borderland.” It has spent more than $1 billion on Korean programs alone. Netflix has been investing in foreign language programming since 2015. It will be easy to dismiss “Squid Game” as some kind of fluke or aberration, just the latest quirky show that Netflix turned into a viral smash. Remember when “Tiger King” was all the rage for a few weeks?īut that would be a mistake. It has come up at least twice in conversation every day this week. It is the most popular show in more than 90 countries, unprecedented for a Korean show (and really any TV show). The Korean show is on pace to be the biggest hit in the history of Netflix. “Squid Game.” “Squid Game.” “Squid Game.” If asked to summarize pop culture over the last couple weeks, I would pick six words.