Movies - TV
Squid Game’s Creator Earned Next To Nothing From The $1B It Made Netflix
By BJ COLANGELO
Season 1 of the survival thriller “Squid Game” was produced by Netflix for only $2.4 million an episode, but the show's success increased the company's value by about $900 million.
With a promised Season 2, a possible reality TV competition show spin-off, and tons of officially licensed merchandise, series creator Hwang Dong-hyuk should have profited greatly.
However, only the VIPs at Netflix are profiting off of “Squid Game,” because part of Dong-hyuk’s contract included forfeiture of all intellectual property rights and residuals.
Some may side with Netflix for being smart negotiators, but foregoing residuals or IP rights isn't the “cost of doing business” for Dong-hyuk, it's predatory behavior by Netflix.
Netflix seemingly promised Dong-hyuk a fruitful deal for Season 2. Still, he has become an outspoken advocate for a bill legally mandating residuals for film and TV creators.
In a recorded video delivered to the National Assembly, Dong-hyuk said, “I ask you to look beyond the short term and approach this as a step toward nurturing the
entire ecosystem.”
Dong-hyuk added, “In order for there to be the next ‘Squid Game’ or the next ‘Parasite,’ the livelihoods of creators must be ensured.”