Netflix’s Christmas wish is that you binge Squid Game Season 2

Squid Game, the Korean show, broke records in 2021 becoming Netflix’s most-popular series ever when it first streamed. As per a Bloomberg report, it had 132 million two-minute viewers in its first 23 days. Netflix wants season two to be just as popular and has pulled out all stops in marketing the show in the run up to its worldwide premier on December 26. 

Hwang Dong-hyuk's dystopian survival thriller is said to have given Netflix an impact value of $891 million as per the above mentioned Bloomberg report. This is a metric the streaming company uses to evaluate the performance of individual shows.

With such numbers to back the show, Netflix has a long lineup of  brands to collaborate with. In India, the platform has partnered with Swiggy Instamart, Knorr and Duolingo to promote the show. 

"Our brand partnerships aim to connect fans with the stories and characters they love on Netflix, extending their experience beyond the screen," said Poornima Sharma, head of marketing partnerships at Netflix India, in a press release about the show’s promotions.

Brand collaborations drive conversations and boost visibility for movies and shows. Shrenik Gandhi, co-founder and CEO, White Rivers Media, says the production house gains additional revenue from the association fee, while the brand invests in promoting the partnership to reach a wider audience.

“It’s a smart strategy, generating extra value and acting as a final revenue boost,” he says.

“For tier A shows, platforms go all out. For tier B or C shows, they typically release them quietly, monitor audience conversations, and adjust marketing efforts based on the response.”

Shrenik Gandhi, co-founder and CEO, White Rivers Media

Swiggy Instamart has launched exclusive series-inspired merchandise in select cities. Gurgaon’s Cyberhub hosts a unique Squid Game experience via the INSTAMAUT vending machine. 

Shaped like the iconic Young-Hee doll, the machine invites fans to perform dramatic "death scenes" for a chance to win coffin-shaped boxes filled with merchandise. Fans can also order themed mugs, sippers, and games through Swiggy Instamart, delivered in collectible bags.

The scale of Squid Game’s brand collaborations reminds one of the promotions for the 2023 film Barbie. The makers had an estimated marketing budget of $150 million for the movie, a tad bit more than the production budget of $145 million. 

While the marketing budget for Squid Game remains unknown, Netflix has a reputation for investing heavily in some of its iconic series, such as Stranger Things and Money Heist. In India, the platform promoted Sanjay Leela Bhansali’s Heeramandi: The Diamond Bazaar with innovative OOH.  

Yash Chandiramani, founder and chief strategist, Admatazz, agrees that Barbie’s marketing budget is unmatched by any other film. In comparison, brand collaborations for Squid Game are impressive but not as widespread. 

He says platforms focus their biggest investments on flagship shows that drive maximum viewership and conversions. For instance, Prime Video has Mirzapur, JioCinema has Bigg Boss, and Netflix has Squid Game. These hero shows aim to draw in new subscribers, persuade undecided viewers, and enhance overall engagement.

“Popular dialogues and situations make content creation simpler. That said, creativity remains crucial—without it, the campaign won’t leave a lasting impression.” 

Yash Chandiramani, founder and chief strategist, Admatazz

Gandhi says the marketing strategy for a show often depends on its acquisition cost. A high cost signals strong confidence, prompting aggressive promotion to showcase the show. 

“For tier A shows, platforms go all out. For tier B or C shows, they typically release them quietly, monitor audience conversations, and adjust marketing efforts based on the response,” he says.

Despite the popularity of the first season of the show, Gandhi says it's essential to aggressively promote the second season to maintain top-of-mind recall. “With so much content clutter, it’s crucial to break through and let audiences know the new season has arrived,” he says.

However, Chandiramani believes that ad campaigns for the second season of a show are easier because one needs to build on existing memory structures when audiences already have an emotional connection. 

“Popular dialogues and situations make content creation simpler. That said, creativity remains crucial—without it, the campaign won’t leave a lasting impression,” he says.

In fact, both Netflix and Duolingo are riding the Squid Game wave this time around. As per Duolingo, there was a 40% increase in Korean language learners after season 1 of the show. So for season 2 Duolingo has partnered with Squid Game to promote Korean. 

How has the marketing for shows changed as OTT platforms rationalise spending in an effort to increase profitability?

Gandhi says while marketing costs per show may have decreased, the number of shows, channels, and OTT platforms has increased, leading to overall growth. “With more content available, the landscape has only improved,” he says.

The platform has worked with Korean food brand bibigo, Call of Duty, Google, Johnnie Walker, and Xbox worldwide. It partners with Burger King in France, Dominos, Samsung, WhatsApp in the US and KFC in Spain and Portugal, apart from other collaborations in Japan, South Korea, and Mexico.