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The widely acclaimed series “Squid Game” on Netflix has become one of the most popular shows till date, captivating audiences around the world. However, the creator, Wang Dong-hyuk, did not reap the financial benefits of its success.
According to the LA Times, “Squid Game” reportedly earned Netflix a staggering $900 million. Unfortunately, Wang Dong- hyuk lost all his intellectual property rights, effectively transferring ownership of the series to Netflix.
Reports reveal that the journey to sell the show was a long and arduous. Wang Dong- hyuk spent decades attempting to pitch his concept but faced numerous rejections. In a desperate move, he even sold his laptop for $675 to raise funds. Eventually, Netflix picked up the series, but it came at the cost of forfeiting all rights and royalties, despite it becoming one of the streaming giant’s biggest hits.
In an interview with The Guardian when “Squid Game” gained international attention, Dong- hyuk shared his compensation, stating, “I’m not that rich. But I do have enough. I have enough to put food on the table. And it’s not like Netflix paying me a bonus. Netflix paid me according to the original contract.”
A writer associated with the show expressed their disappointment, telling the LA Times, “At first, it was exciting to think that people all around the world would be able to watch my shows. But now I’m thinking, ‘So what? I’m not getting anything out of it.'”
Netflix responded to the matter in a statement to the LA Times, claiming to provide fair and competitive rates to their K-Content creators, meeting or exceeding Korean law, while also setting clear standards for their Korean production partners.
Recently, the creators of “Squid Game” announced a reality show spin-off titled “Squid Game: The Challenge,” featuring 456 contestants participating in games similar to those seen in the original drama. However, the reality show faced criticism from contestants alleging poor working conditions and even claiming that the game was rigged.
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