Cathie Wood-led Ark Invest said on Monday Netflix Inc’s NFLX recently launched South Korean hit series "Squid Game" could soon become the streaming giant’s most-watched series.
What Happened: The popular investment management firm, citing Google Trends data, said the series is poised to soon surpass 100 million viewing households, more than the current popular series "Bridgerton’s" 82-million-households milestone during its first four weeks on the platform.
Recently, Netflix co-CEO Ted Sarandos had said "Squid Game" is on pace to become the streaming platform's most-watched series ever.
“Google search volume confirms Sarandos' comments, suggesting that the series will pass 100 million viewing households,” Ark analyst Nick Grous wrote in a note.
See Also: Netflix Countersued By South Korean Firm Following Traffic Surge Due to 'Squid Game'
Why It Matters: Squid Game made a global debut on Sept. 17. As a strategy, the streaming giant unleashed the gripping tale of capitalism and desperation directly to all its subscribers globally, which further helped lift the viewership.
Netflix said in February that it planned to invest $500 million in film and series production in South Korea this year to broaden the local content. The company had 3.8 million paid subscribers in South Korea as of 2020-end.
Price Action: Netflix shares closed 0.89% lower at $627.04 a share on Monday.
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