A less-than-expected start to the new season of the popular Netflix series “Squid Game” led to a sharp decline in shares of South Korean companies related to the series on Friday.
Shares of film distributor Artists United fell by the daily limit of 30%. Actor Lee Jong-jae, the star of the series “Squid Game”, is the largest shareholder in the marketing company.
The shares of Wysiwyg Studios Co., which also owns a stake in Artists United, fell by up to 25%, while the shares of Dexter Studios, a Korean partner of Netflix, fell. , by 24%.
New season of “Squid Game”
The Korean thriller series achieved widespread success around the world when it was shown for the first time in 2021, which led to a rise in the shares of local entertainment companies amid expectations that they will benefit from Netflix’s quest for more successful titles. The first season of the series topped the list of the most watched titles on the American online broadcasting giant on all continents of the world and became the first foreign language work to be nominated for an Emmy Award for Best Drama.
Expectations were high for the second season of the dystopian reality series, which launched on December 26. Despite the low ratings from some prominent critics, the series has received approval from 85% of critics and 65% of viewers so far on Rotten Tomatoes.
The New York Times said in its review of the series, “This season of ‘Squid Game’ indicates great ambitions but falls short of achieving them,” adding that events are “slow.” A third and final season of “The Squid Game” is scheduled to be released in 2025.
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