Squid Game Season 2 will happen: Netflix confirms and teases a "universe" based on the show

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During a Thursday interview with Variety, Netflix CEO Ted Sarandos confirmed a second season of "Squid Game" - the streaming platform's record-breaking series - while teasing plans to expand the franchise.

Sarandos believes the Korean show has the potential to grow into live experiences, games, merchandise, and more. He is calling it "The 'Squid Game' Universe," which will offer products like tracksuits from the show and mobile gaming.

"The 'Squid Game' universe has just begun," Sarandos said. "We're building those muscles steadily with our consumer products, both like the 'Squid Game' tracksuits, and then we're making a big push on experiences that are mobile and portable."

Squid Game creator working on Season 2

"Squid Game" creator Hwang Dong-hyuk previously confirmed he was working on season two of the show, which won three Golden Globe Awards. A release date has yet to be announced, but the news confirming a second season comes as Netflix shares dropped 24% on Friday after the company admitted rival streaming platforms was slowing subscriber growth.

"There's been so much pressure, so much demand and so much love for a second season. So I almost feel like you leave us no choice!" Hwang told the AP in November. "But I will say there will indeed be a second season. It's in my head right now. I'm in the planning process currently."

Bloomberg revealed internal documents from Netflix in October that showed the company spent a $21.4 million on the first season of "Squid Game." Netflix's investment in the South Korean show is a sign of ongoing efforts to expand international projects.

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