Squid Game snapped Netflix out of its funk.
After a slump which the company blamed on pandemic production delays, it had scored a bona fide hit. About 140m subscribers watched at least a few minutes of the dystopian Korean thriller. Walmart began selling Squid Game T-shirts. Netflix stock soared to record highs.
Yet in the US and Canada, all this success translated to only 70,000 new customers. Out of the 4.4m people who signed up for Netflix in the third quarter, less than 2 per cent came from its largest market.
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