What impact has streaming had on traditional network ratings? How does Nielsen’s multiplatform data reveal the viewership trends amongst network and streaming shows? Which broadcast series are managing to maintain large audiences despite the streaming boom?
With streaming now the platform of choice for the largest share of TV viewers in the U.S., it would seem logical that a streaming show would top the ratings rather than a traditional network show.
As it turns out, that’s correct: Netflix’s Squid Game is, by a sizable margin, the most-watched series of the 2024-25 season. But in Nielsen’s multiplatform ratings, which measure viewing over five weeks and across all outlets, a number of broadcast series are still commanding large audiences.
Of the top 20 shows through March 15 (the most recent date for which the 35-day ratings are complete), eight originate on broadcast networks — six from CBS and two from ABC. All of them average at least 11.5 million viewers per episode across their network showings and streaming over five weeks. CBS’ Tracker is the top network show and fourth overall with 17.6 million viewers via CBS and Paramount+.
Squid Game, whose second season premiered in late December, racked up 27.1 million viewers in the 35-day window. Netflix’s Adolescence (19 million) and Prime Video’s Reacher (18.1 million) rank second and third, and two other network series, first-year breakouts Matlock (CBS) and High Potential (ABC), are tied for fifth overall at 16.1 million viewers.
This season is the first in which Nielsen has released multiplatform data showing how outlets compare. In the broadcast landscape alone, CBS leads the pack (as it does in linear ratings) with 9.1 million viewers in primetime. NBC is second at 7.2 million viewers, followed by ABC (6.9 million) and Fox (4.3 million). ABC has the biggest gain from Nielsen’s linear ratings (which are measured over seven days), rising by 61 percent with streaming and the longer window. CBS improves by 59 percent with the longer multiplatform measure, while NBC grows by 41 percent and Fox, whose shows stream on Hulu but which doesn’t have its own platform, adds 12 percent.
The top 20 shows (including ties) for all platforms and just on broadcast in Nielsen’s 35-day multiplatform ratings are below. Sports and specials are excluded.
‘Squid Game’ is the No. 1 Series of 2024-25, Nielsen Says
In an era dominated by rapidly changing viewer preferences and the explosion of content available via streaming services, few shows have made as significant an impact as Netflix’s “Squid Game.” Originally released in September 2021, its blend of disturbing allegory and thrilling competition struck a chord with audiences worldwide. Now, Nielsen has confirmed that “Squid Game” remains the top series for the 2024-25 viewing period, a remarkable feat given the explosive growth of new content and the ever-evolving landscape of television standards.
The Unprecedented Success of “Squid Game”
“Squid Game” burst onto the scene with its shocking premise: competitors, drowning in debt, face a string of deadly children’s games for a chance at a life-changing cash prize. The show’s gripping narratives of desperation, human morality, and societal critique resonated deeply in a time when many felt overwhelmed by their struggles. Within a matter of weeks, it became a cultural phenomenon that transcended geographical boundaries, quickly becoming the most-watched series in Netflix’s history.
Nielsen’s latest report reinforces what many have suspected: despite being released over three years ago, “Squid Game” has not only maintained its relevance but has also grown in popularity among new audiences. A blend of nostalgia for earlier seasons and anticipation for the upcoming content keeps viewers engaged and captives to the show’s engaging narratives.
Evolving Viewer Habits
The success of “Squid Game” can also be attributed to the changing habits of television consumption. The rise of binge-watching, spurred by platforms like Netflix, means that viewers often seek out shows they may have overlooked in their initial release. In a world where audiences are bombarded with choices, “Squid Game” consistently captures attention through word-of-mouth recommendations and social media discussions, which amplify its reach and relevance.
Additionally, the show’s themes resonate profoundly in today’s socio-economic climate. With discussions surrounding wealth disparity and mental health becoming focal points in public discourse, the moral quandaries presented in the series reflect real-world struggles, compelling viewers to confront uncomfortable truths about society and human nature.
Cultural Impact and Legacy
The cultural impact of “Squid Game” extends beyond mere viewership statistics. It has sparked countless memes, discussions, and even academic analyses. Fashion designers and brands have drawn inspiration from its striking visuals, while Halloween saw a surge in costumes echoing the show’s haunting aesthetic.
Moreover, “Squid Game” has opened doors for other international content. It has demonstrated the potential for non-English language series to captivate audiences, paving the way for shows from different countries and cultures to gain traction in the global market. This phenomenon marks a significant shift in the television industry, emphasizing the need for diverse storytelling that reflects the world’s multifaceted fabric.
Challenges Ahead
While “Squid Game” celebrates its status as the No. 1 series, the question remains: can it maintain this momentum? As the 2024-25 viewing period progresses, new series will invariably emerge, vying for audience attention. Moreover, the show’s producer and creator, Hwang Dong-hyuk, faces the monumental task of expanding a universe that captivated audiences profoundly through its first season. Fans are eagerly awaiting Season 2, and expectations are at an all-time high.
Balancing the series’ unique style and impactful storytelling while catering to both returning fans and newcomers poses a significant challenge. In a world of fleeting internet trends, sustaining interest in the long run will require innovative storytelling, character development, and perhaps, a deeper exploration of the series’ themes.
Conclusion: A Phenomenon Beyond Numbers
Nielsen’s declaration of “Squid Game” as the top series for the 2024-25 period signifies more than just viewership numbers; it underscores the show’s unique position in contemporary culture and the evolving media consumption landscape. As phrases and visuals from the series pervade social media and popular culture, its ongoing relevance invites deeper analyses of societal structures and human psychology.
While “Squid Game” began as a story of survival and desperation, it has transformed into a multifaceted dialogue about humanity, ethics, and the complex systems that govern our lives. As fans and newcomers alike tune in for Season 2, one thing is certain: “Squid Game” has not just captured the attention of the masses, but has forever altered the fabric of television storytelling, creating a legacy that will undoubtedly continue to resonate for years to come. In the tapestry of modern entertainment, few shows can boast such lasting influence, and as long as the conversation around it persists, “Squid Game” will remain a pivotal thread in the audience’s collective viewing experience.
"Squid Game" Season 2, released on December 26, 2024, achieved remarkable viewership milestones, solidifying its position as a leading series in the 2024-2025 period. Within the first four days, it amassed 68 million views, surpassing previous Netflix premiere records. (en.wikipedia.org) By January 2025, the series collectively delivered over 1 billion viewing hours, with Season 2 contributing significantly to this total. (owlandco.com) Additionally, during the week of December 23 to 29, 2024, "Squid Game" topped Nielsen’s U.S. streaming charts with 4.92 billion minutes viewed, marking the largest weekly haul of any 2024 series. (businessghana.com) These achievements underscore "Squid Game’s" enduring popularity and its significant impact on global streaming audiences.