'Squid Game' Reality TV Show Is Green-Lit by Netflix, Offers $4.65M Prize

On the planned game show, which is billed as 'the biggest reality competition ever,' there will be 465 players around the world competing for the coveted prize.

AceShowbiz - Netflix is not only renewing Squid Game" for a second season, but also developing a new reality TV series inspired by the hit South Korean dystopian drama. According to a new report, the streaming giant has ordered ten-part series called "Squid Game: The Challenge" with $4.65M prize being offered to the winner.

On the planned game show, which was announced at the Banff World Media Festival on Tuesday, June 15, there will be 465 players around the world competing for the coveted prize. While Netflix claims the payout is the largest lump-sum cash prize in TV history, FOX's "The X Factor" previously handed out recording contracts worth $5 million.

On "Squid Game: The Challenge", the contestants will compete in a series of games inspired by the show in addition to some new ones. Billed as "the biggest reality competition ever," the show will put their strategies, alliances and character to the test while competitors are eliminated around them. Casting is now underway.

" 'Squid Game' took the world by storm with [director Hwang Dong-hyuk's] captivating story and iconic imagery," said Brandon Riegg, Netflix VP of unscripted and documentary series. "We're grateful for his support as we turn the fictional world into reality in this massive competition and social experiment. Fans of the drama series are in for a fascinating and unpredictable journey as our 456 real-world contestants navigate the biggest competition series ever, full of tension and twists, with the biggest-ever cash prize at the end."

The news arrived after Netflix confirmed a sophomore season of "Squid Game" on Sunday. "It took 12 years to bring the first season of 'Squid Game' to life last year. But it took 12 days for 'Squid Game' to become the most popular Netflix series ever," director Hwang said in a statement. Hwang also teased that both protagonist Seong Gi-hun (Lee Jung-jae) and the masked antagonist the Front Man (Lee Byung-hun) will return.

"The man in the suit with ddakji might be back," he added, before stating that the new season will introduce Cheol-su, the boyfriend of the show's gigantic killer animatronic doll Young-hee.

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