Netflix’s Internal ‘Squid Game’ Metrics Reveal How It Measures ‘Success’
Image via Netflix
We know shows like You, Bridgerton, and Squid Game, Netflix’s widely successful programs. However, it’s not always obvious what goes on behind the scenes and how the company decides how something qualifies as a true “hit.”
Until now, at least. In the flurry of controversy surrounding the streaming service that is Dave Chappelle's controversial special, some internal documents were picked up by Bloomberg. These detail that the shows are analyzed according to “impact value” and “efficiency” scores.
The latest hit show Squid Game, for example, managed to generate around US$891.1 million in “impact value” despite having a budget of just US$21.4 million. This gives it 41.7 times “efficiency.”
Around 132 million people watched at least two minutes of Squid Game in its first 23 days since release, according to the documents. 89% watched at least 75 minutes, which is more than one episode. And, 87 million (66%) people finished it in the first 23 days.
In total, 1.4 billion hours of the show were watched in the period of time the company collected the data from.
Sometimes, Netflix will disclose this data for particular shows as it sees fit. However, as Engadget notes, the company tends not to reveal how many people actually finished shows they started. This can often inflate figures compared to typical TV ratings.
But other than that, these figures are kept predominantly behind closed doors. As an attorney representing the company stated to Bloomberg, “Netflix does not discuss these metrics outside the company and takes significant steps to protect them from disclosure.”
[via Engadget, image via Netflix]
Also check out these recent news
