Why is Squid Game 2 a big bet for Netflix?

As the sequels to the hit series co-produced by Netflix with Korea continue to fail, Squid Game 2 is shouldering a lot of pressure.

To date, no Korean film has surpassed the success of Squid Game and The Glory - Photo: Netflix

Netflix spent nearly a decade investing in the Korean market, but by 2023 growth had stalled, with no films to date following the global success of Squid Game and The Glory .

The series once made Netflix proud when it brought in huge profits like Sweet Home , Gyeongseong Creature , DP and Hellbound lost their appeal when season 2 was released. Not only the audience, but directors have also begun to question the feasibility of seasonal film projects on Netflix.

At this time, all attention was focused on the return of Squid Game season 2 , when Netflix poured more than 100 billion won into the project. This is considered a big bet for this platform, if it fails once again, not only will the audience's trust collapse, but the possibility of Korean seasonal projects will also be buried.

Part 1 was a blockbuster, part 2 was a flop.

According to The Korea Times , Seasonal series were initially popular in Hollywood, but later expanded to streaming platforms. Korea create a new trend

Seasonal television series have the advantage of being easily expandable in terms of themes and characters, and especially having a loyal viewer base, which encourages studios to pursue sequels.

Amid the crisis in the Korean film industry, seasonal series bring in relatively stable profits.

Three consecutive failed films put Netflix in crisis - Photo: The Korea Times

However, hastily created sequels without a long-term vision for setting and character consistency can ruin previous successes.

This is evidenced by Netflix's recent failed series like Sweet Home 2 and 3, Gyeongseong Creature 2 , DP 2 , even Hellbound - the opponent who broke the unbeaten streak of Squid Game also lost its appeal.

Park Seo Joon and Han So Hee couldn't save Gyeongseong Creature 2 - Photo: Netflix

With an investment of 70 billion won and the participation of two famous actors Park Seo Joon and Han So Hee also cannot save the illogical content of Gyeongseong Creature Part 2.

“While season 2 attempts to address audience concerns by improving the sluggish pace of the first season, it loses essential details.

The core messages are crammed in reluctantly instead of naturally appearing in the story” - Korea Herald write.

In an interview, director Yeon Sang Ho ( Hellbound ) highlighted the limitations of the seasonal film production model in the land of kimchi.

“Currently, each film relies on the creative efforts of only one or two people, while to be successful, we need a strong team like in foreign countries. However, in Korea, such a system does not exist yet and there are many doubts about its feasibility.”

Looking at the big picture, it is clear that Korea is a strong market but that is not enough, they need a support team to develop content systematically.

Squid Game 2 will it work?

Launched in a difficult situation, Squid Game 2 is expected to break the series of consecutive failures of the series of films labeled "blockbusters".

Squid Game 2 promises to be more dramatic than the first season - Photo: Netflix

The audience has the right to believe. Squid Game 2 when the entire content was systematically and methodically conceived by director Hwang Dong Hyuk a long time ago.

“There have been many comments on the content of the new part, but I don't want to create a work based on subjective opinions. I want to expand the philosophies I built from part 1 into part 2 and make them more attractive,” he shared with The Hollywood Reporter .

From the first footage revealed, it can be seen that each scene contains profound artistic intentions, typically the appearance of two giant O and X symbols illuminated on the dormitory floor.

According to director Hwang, these seemingly simple symbols are symbols of contemporary social rifts.

TOP caused controversy when appearing in Squid Game 2 - Photo: Naver

Along with the return of the cast that made the success of Squid Game In the first season, many prominent names will appear such as Im Siwan, TOP (Big Bang), Park Sung Hoon, Yang Dong Geun, promising to bring a new breeze to this horror game.

However, the personal scandals of actors Song Young Chang, TOP and male lead Lee Jung Jae have caused many audiences to turn their backs on the show. Squid Game 2. Facing fierce opposition, TOP announced that he would not participate in promoting the film.

The success of the first season is like a double-edged sword. Although it helps the films secure initial viewership, it is difficult to overcome the existing shadow. Therefore, not only the audience but also the entertainment industry is eagerly watching Squid Game 2 .