As related stock prices soared with Netflix’s original drama “Squid Game,” which is gaining popularity around the world, Korean content is said to be a serious threat to Hollywood.
Bloomberg reported on the 27th that the stock prices of related companies are soaring day after day due to the popularity of “squid games.” Bucket Studio, which holds a stake in the agency of Lee Jung-jae, the main actor of Squid Game, has soared 90% over the past three trading days. Other related stocks are also soaring.
Squid Game is a story about people who participate in a mysterious survival game with 45.6 billion won in prize money playing extreme games with their lives at stake to become the last winner. When it was released, it ranked No. 1 in Netflix’s global ranking and ranked No. 1 in services in the U.S. for the first time in Korean dramas.
Bucket studios are soaring even though they are only indirect beneficiaries of ‘squid games,’ said Douglas Kim, an expert in the Korean content industry. “The stock price of the Korean entertainment industry will rise further over the next two to three years as the competitiveness of Korean content is increasing day by day.”
“As confirmed in the Squid Game, Korea’s ability to produce content is comparable to that of Hollywood, which dominates the global entertainment industry,” he said. “Korea’s content poses a serious threat to Hollywood.”
Meanwhile, Bloomberg introduced that the squid game depicts the fight between the haves and the haves, and is in line with the black comedy Parasite, which won the Oscar last year.