‘Squid Game’ wins merch influence

Netflix and Walmart are teaming up on a merchandise hub dedicated to popular titles from the streamer. The announcement comes on the heels of Netflix’s Squid Game boom, with products featured in the show flying off shelves. In a world where merch has become the new fashion, Netflix could turn its consumer products division into a meaningful revenue stream by offering merch for purchase right on the platform.

Mask up at Walmart
Just in time for Halloween, Squid Game merch is hitting shelves.

• Netflix and Walmart are partnering up to create a digital storefront on the retail giant’s site — Netflix’s first with a national retailer.
• Netflix Hub will sell merch tied to Netflix hits such as Squid Game, Stranger Things, and The Witcher.
• Additionally, Netflix recently launched its own e-commerce site, Netflix.shop.

Even though Netflix is ramping up its consumer product ambitions, co-CEO Reed Hastings doesn’t believe that merch will actually be a big revenue driver. Instead, Hastings sees the division as a way “to help the subscription service grow and be more important in people’s lives.” Essentially, if people see a Squid Game shirt on the street, they may just go home and watch it.

Brand piggy bank
Although Hastings may not see consumer products as a huge revenue driver for the company, there is no denying that a hit show does open up viewers’ wallets. Just look at Squid Game, which is on track to be Netflix’s biggest show ever.

• White slip-on vans saw a 7,800% increase in sales.
• “Squid Game costume” was a “breakout” term on Google Trends.
• Some vendors who sell Dalgona — the sugar candy featured in the show — said demand is up 250%.

This isn’t the first time that Netflix has been behind a title whose popularity spurred product sales in line with the story. Last year’s The Queen’s Gambit was behind a monumental spike in popularity for chess sets, chess lessons, and even chess-themed hotel rooms.