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Scene from Netflix’s “Squid Game”
Source: Netflix
South Korean internet service provider SK Broadband is suing Netflix after the platform’s popular show “Squid Game” reportedly resulted in increased network traffic, Reuters reported on Friday for the first time.
ISP is asking Netflix to pay associated maintenance costs resulting from increased network traffic for the dystopian thriller that Netflix co-CEO Ted Sarandos says is set to become the “most great show of all time “from the streaming giant.
Netflix shares were slightly negative on Friday afternoon. Shares of SK Telecom, the parent company of SK Broadband, rose more than 1%.
“We will look into the complaint filed by SK Broadband against us,” a Netflix spokesperson said in an emailed statement to CNBC. “In the meantime, we continue to seek an open dialogue and explore ways to work with SK Broadband to ensure a seamless streaming experience for our mutual customers.”
The news comes after a South Korean court ruled that Netflix should “reasonably” pay SK Broadband something for the use of the network. In recent months, lawmakers across the country have also called on content providers like Netflix that don’t pay network usage fees.
Netflix said earlier this week that it has helped create 16,000 jobs in South Korea.
SK Broadband did not respond to CNBC’s request for comment.
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