Squid Game’s explosive success challenges Hollywood, raises K-media stocks

Netflix’s latest survival drama, Squid Game, has upped the stakes of the Korean entertainment industry, quite literally. There has been a sudden massive increase in the stocks of Korean media companies, especially Bucket Studio Co., Showbox, and Siren Pictures, who are all connected to Squid Game directly or indirectly.Squid Game is the first K-drama to achieve the No. 1 rank on Netflix in the US. The show, directed by Hwang Dong Hyuk, has been trending everywhere since its release. The last Korean show to reach the peak in the US charts was the 2020 sci-fi thriller Sweet Home, which stood at No. 2.Hwang Dong Hyuk’s Squid Game boosts investments shares of Korean media companies View this post on Instagram A post shared by The Swoon (@theswoonnetflix)The biggest winner is Bucket Studio Co., which has a 15% stake in the show’s lead actor, Lee Jung Jae’s agency, Artist Company. According to Korea’s JoongAng Daily, Bucket Studio’s shares hit the 30% daily trading limit on two days since Squid Game’s debut on September 17, doubling the company’s shares.Showbox Corp. had previously invested in Siren Pictures, the production company for Squid Game. Since the massive success, the indirect influence led to Showbox’s investments jumping 50% before slipping down on Monday.This slip might also be because a representative from the company informed the press that their investment in Siren Pictures was not connected to Squid Game in any way.ً@exquisitekdramaso squid game took 13 years to make it as a series, director hwang dong hyuk said he began drafting the series in 2008. it's all about the timing, they really deserve the worldwide success that they're gaining today!!10:25 AM · Sep 22, 202114931so squid game took 13 years to make it as a series, director hwang dong hyuk said he began drafting the series in 2008. it's all about the timing, they really deserve the worldwide success that they're gaining today!!KNG@namgil_kimCongratulation for the squid game has skyrocketed, I'm sure that before the broadcast of your series will not disappoint, once again I congratulate you guys on the success of the squid game for all the team👍👍6:04 AM · Sep 22, 202121Congratulation for the squid game has skyrocketed, I'm sure that before the broadcast of your series will not disappoint, once again I congratulate you guys on the success of the squid game for all the team👍👍 https://t.co/6aEM1gIzw4𝐒𝐄𝐎𝐇𝐘𝐔𝐍 𝐒𝐓𝐑𝐄𝐀𝐌 🎬 FOR 서현@SeohyunStreamSquid Game's enormous worldwide success (#1 globally) turned out to be unexpected promotion for Moral Sense and upcoming Netflix Korea original content in general 😆🙌Netizens are loving its diversity of new high quality content. Squid Game VFX studio is also behind Holy Night!4:13 AM · Sep 22, 20219133Squid Game's enormous worldwide success (#1 globally) turned out to be unexpected promotion for Moral Sense and upcoming Netflix Korea original content in general 😆🙌Netizens are loving its diversity of new high quality content. Squid Game VFX studio is also behind Holy Night!John Cullen@nellucnhojHollywood execs will look at the massive success of Squid Game, and rather than learning the right lessons they'll probably greenlight multiple English language remakes of South Korean shows.9:04 AM · Sep 23, 2021385Hollywood execs will look at the massive success of Squid Game, and rather than learning the right lessons they'll probably greenlight multiple English language remakes of South Korean shows.steph⁷@lunatheorbiton the other hand the success of squid game internationally not long after parasite, is really opening up the reception of asian television and movies. things are changing and that’s exciting.2:11 AM · Sep 27, 2021333on the other hand the success of squid game internationally not long after parasite, is really opening up the reception of asian television and movies. things are changing and that’s exciting.Chase@ChaseStein_I'm glad they're showcasing content outside the US, when you see the success of La Casa De Papel, Lupin, Squid Game... you'd think other studios would realize the power of foreign content. #TUDUM10:17 AM · Sep 25, 20216I'm glad they're showcasing content outside the US, when you see the success of La Casa De Papel, Lupin, Squid Game... you'd think other studios would realize the power of foreign content. #TUDUMThen there are the other behemoth media companies behind the most popular K-dramas that have benefited from Squid Game’s and its predecessors’ success.CJ ENM’s Studio Dragon, the company behind the classics Goblin, Legend of the Blue Sea, Chicago Typewriter, and recent hits Start-Up, Vincenzo, Flower of Evil, It’s Okay to not be Okay, rose 5.17% at 89,500 KRW a share.The recent top hits Sweet Home and Kingdom were also produced by Studio Dragon.On the other hand, JTBC Studios rose 6.85% to 49,900 KRW a share. Nevertheless, Itaewon Class, Law School, Beyond Evil, Sisyphus: The Myth, and more make up the roster for JTBC shows.Kim Ji Yeon, CEO of Siren Pictures, told Bloomberg about the vast potential Korean companies now have, saying that Korean entertainment “could pose a serious competitive threat to the Hollywood powerhouses.”With BTS towering over other celebrities in the Billboard charts and selling out stadiums, Parasite’s Oscar-winning moments have boosted the Hallyu Wave like no other. Reports at the start of 2021 revealed Netflix investing $500 million on original movies and shows in South Korea.Netflix is not alone, though. Apple TV+, HBO Max, and even Disney+ are reportedly investing in South Korean content too.

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