SKM - 'Squid Game' Was So Popular On Netflix It Got Sued: Three Years Later A Partnership Is Forged | Benzinga
Streaming giant Netflix Inc (NASDAQ: NFLX) had many hit series and movies over the years. Of all the content on Netflix, none came close to the record-setting performance of "Squid Game.”
The massive success of "Squid Game” led to a lawsuit from a leading telecommunications company over increased network traffic. The lawsuit has been resolved with a partnership announced this week.
What Happened: Netflix and telecommunications company SK Telecom Co Ltd (NYSE: SKM) have been in a battle since 2020 relating to broadband usage. After increased traffic demand due to "Squid Game,” SK Telecom unit SK Broadband sued the streaming company.
SK said at the time that Netflix was the second largest data traffic generator, trailing only Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL)-owned YouTube. Other big traffic generators including Amazon, Apple and Facebook were said to be paying SK Broadband.
After three years and several lawsuits, Netflix, SK Telecom and SK Broadband are putting their differences aside ...