On December 17th, 2024, Netflix launched Squid Game: Unleashed, a party royale game inspired by the hit show. While Netflix has been publishing games for some time — with varying degrees of success — Squid Game: Unleashed is unique because players do not need a Netflix subscription to play it.

Why? Let’s dig in! 

The Curious Case of Squid Game: Unleashed

With Squid Game: Unleashed, Netflix is trying to accomplish something new. The game is not intended to increase retention in Netflix's core subscription or become a revenue stream on its own: Rather it is a well-timed brand marketing campaign designed to generate hype for its biggest show and keep fans engaged until the next season drops.

"Squid Game" season 2 released on December 26th, 2024, a week after the mobile game. Netflix also ran a "Squid Game" season 2 "watch along" challenge in the game, which allowed players to unlock in-game rewards for every episode they watched. This was effective in marketing the game as well as the show during the release period. However, since then, downloads and active users have gradually tapered off.

Why is Netflix offering this game to nonsubscribers? Firstly, the game acts as a UA channel for subscribers to enter (or reenter) Netflix’s funnel. Players of the game could then subscribe to Netflix out of curiosity, or churned fans of the IP could resubscribe to watch the latest season.

The second reason is "Squid Game" season 2‘s cliff-hanger ending, and the expectation that the storyline resumes in season 3, which drops on June 27. With a six-month gap between seasons, Unleashed is a compelling way to retain audiences, generate hype for the IP, and keep "Squid Game" relevant.

To be clear, this is likely an experiment and simply one tactic in Netflix’s overarching brand activation strategy for the show's second season. To date, Squid Game: Unleashed has been downloaded over 19M times and saw 1.9M DAU at its peak in the first week of January. 

Notably, Netflix demonstrated a record number of subscriber gains in Q4 2024 with a 16% year-over-year revenue increase, and by the end of December, Squid Game: Unleashed already garnered over 6M downloads. While we cannot attribute Netflix’s recent performance to Squid Game: Unleashed, it’s likely that part of these gains were due to "Squid Game" season 2.

The moment we realize Squid Game: Unleashed is simply a brand marketing tactic designed to boost a much bigger priority for Netflix — the success of one of its top shows — its actions make more sense. The success or failure of the game, however, remains to be seen and will become clearer in Netflix’s 2025 Q1 numbers as well during the launch of "Squid Game" season 3.

This specific strategy is unique to Netflix as the world’s largest streamer, but the broader fusion of brand marketing and games is becoming increasingly popular.

Games are also a great way to target younger consumers. A Livewire study shows Gen Alpha and Gen Z enjoy branded moments in games nearly 20% more than Millennials, not to mention older generations. They also increasingly value immersive experiences, interactive moments, and playable experiences. So let’s explore other ways brands are leveraging games as marketing channels.

Generate Hype for Upcoming Content

In-game collaborations for upcoming content releases are particularly ubiquitous among anime IPs, which we've covered in depth previously.

The recent Free Fire X "Naruto Shippuden" collaboration is an excellent example. The collab ran from January 8th to February 10th, 2025, and on top of "Naruto"-themed collectibles and rewards, it included deep gameplay integrations such as reconstruction of the iconic Hidden Leaf Village in the Battle Royale mode in Bermuda, as well as the Nine Tails Strikes Bermuda event.

"Naruto" is also an older IP — the series concluded its 500-episode run back in 2017. So why did the brand invest in this deep collaboration now?

The answer lies in its evergreen popularity and recent spinoffs. The "Naruto" franchise recently hosted its own concert tour, including a massively successful run in Europe, and it is currently gearing up for its U.S. debut across 60 cities. The English dub of "Naruto Shippuden" and its sequel anime "Boruto: Naruto Next Generations" are also being released on Hulu.

The IP celebrates its 25th anniversary this year and has a host of game-related activations coming up, including events with Mobile Legends: Bang Bang, an Xbox Game Pass Bundle, and an update to console and PC title Naruto x Boruto Ultimate Ninja Storm Connections. The cumulative result of all these campaigns is a clearly visible uptick in Naruto-related searches.

In another example, the recent collaboration between Minecraft and Sonic makes this marketing strategy even more obvious. The crossover was launched on the heels of the box office success of "Sonic the Hedgehog 3", and right before the movie hit Paramount+. It’s clear these in-game collabs are most effective when the content timing coincides with real-world events surrounding the IP.

Reach a Specific Target Segment

Games are also good vehicles for targeting specific audiences. For example, automakers are getting used to featuring in popular shooters, as they often include vehicles in their gameplay — a good channel to showcase branded, playable, and premium cars in-game.

Recently, Dodge collaborated with PUBG Mobile, and Mahindra, a leading automaker in India, collaborated with BGMI. Both collaborations promoted specific models, with the Dodge Challenger and Charger featuring in PUBG Mobile, while the Mahindra collab promised to give away an actual BE 6 to one lucky player.

Racing games are also obvious partners for auto marketing, as seen in the collab between Hyundai and Kartrider Rush+, which features the popular IONIQ EVs.

These integrations in PUBG and BGMI make sense because 64% of the core audience for FPS are Gen Z and Millenials, who are more likely to buy newer models, muscle cars, and EVs — far higher than other demographics.

Be a Part of Popular Culture

Some games have become iconic in their own right, so brands seek collaborations with them to be relevant in an increasingly crowded marketplace.

Both Fortnite and Roblox have featured innumerable collaborations. Roblox alone boasts 400-plus activations where brands have created unique, meaningful connections with the community through custom Roblox Marketplace items, limited-time integrations, celebrity meet and greets, concerts, and immersive experiences. And Roblox’s Partner Program even connects brands with developers, agencies, and other brands seeking to activate on Roblox.

Being on a platform like Fortnite or Roblox instantly generates PR and can greatly benefit a brand. From Mariah Carey to Hell's Kitchen, from Nike to Skibidi Toilet, diverse brands and influencers recognize the power of these platforms as marketing channels.

These platforms have increasingly clear playbooks for brand integrations that marketers can leverage. For example, in Fortnite, brands can directly work with Epic Games following its guidelines for third-party branded events and use UEFN to build events into Fortnite. Whereas for branded experiences in Roblox, brands have more creative freedom and can work with UGC developers or creators. Check out our podcasts for strategies and best practices that brands can adopt when activating in Fortnite and Roblox.

Leveraging Fandom Intersections through Crossovers

Brand marketers know that fandoms often intersect. However, due to brand salience concerns, it is difficult to bring fandoms of different IPs together in linear media. Interactive media is the perfect vehicle for these crossovers, because games can break rules in fun and interesting ways.

A fun example is Marvel vs. Capcom, which unapologetically crosses over fan-favorite characters from both franchises. The latest edition, Marvel vs. Capcom: Infinite, though originally launched in 2017, recently saw a boost in sales and 2,167% increase in players on Steam due to modding projects.

A key lesson here is focusing on the fandom and listening to player feedback. While the recent Marvel vs. Capcom mod required significant time and resource investments by dedicated fans, it was provided for free to players who owned the game, ultimately driving unit sales.

Another interesting use case is the crossover between two seemingly unaffiliated entertainment IPs such as Eminence in Shadow: Master of Garden and "Re:Zero". The event crosses over two popular anime IPs in the “isekai” or “another world” genre.

This integration made business sense because it generated fandom synergies by bringing together fans of the “another world” genre. Additionally, it made narrative sense as it literally crossed over characters from another isekai anime. The benefits can be clearly seen in the lift in the game’s revenue and downloads during the event.

Conclusion

Game integrations can revitalize a brand, create hype for new product launches, increase its popularity, and help it reach new audiences.

However, it takes a bit of practice to get this right, as each brand has its own audience and nuance; there are several key factors that brands must keep in mind while choosing games as a marketing channel.

Firstly, the brand should define a clearly attributable metric to measure the success of its in-game integration. For example, in the case of Netflix’s Squid Game: Unleashed, it may be increasing subscriptions.

Next, brands should identify the right partner for in-game integration. This includes analyzing whether the target audience of the brand campaign overlaps with the player demographics in the game. For an automaker, this may mean partnering with a battle royale, and for a celebrity this may mean going to a platform like Roblox or Fortnite.

Lastly, brands must keep in mind that in-game integrations may be a time-consuming endeavor requiring upfront development or licensing negotiations. Timing is everything in such integrations, and marketers must ensure that their campaigns go live at the most opportune moments.

The best days of brand marketing in games remain ahead of us, and we can’t wait to see the new, creative ways smart marketers take brand engagement to new heights using interactive media.

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Content Worth Consuming

How Riot Games is Preparing for the Next Generation of Players (gamedeveloper.com): “In 2010, the team at League of Legends developer Riot Games was feeling nervous. Their scrappy multiplayer online battle arena (MOBA) was taking off, but a few hours south in Anaheim, Blizzard was preparing to launch Starcraft II, a blockbuster PC strategy game that could eat up their audience and smother League before it had a chance to explode. It was an inflection point for the studio and game industry as a whole. Both companies were asking the same fundamental question: ‘what do players want from online games?’”

Hope for the Future with Halo's Joe Staten (The Fourth Curtain): “This week's guest is Halo and Destiny's Joe Staten. Beginning as a farmhand, he went on to lead teams in the Halo franchise, be on the core team for Destiny, write a NYT bestselling novel and work with the great Peter Jackson. Now looking for his next role, we discuss how Bungie was like a family business, the most important mysteries and creativity and risk.”

Amazon Bets on Religion (Game Changers Podcast): “In this episode of Game Changers, Managing Partner Jason Chapman unpacks Amazon’s $100M investment in The House of David, a faith-based series that’s already climbing the charts. Faith-driven content is seeing a resurgence, with Gen Z increasingly turning to spirituality – a trend shaping not just movies and TV, but gaming as well.”

Shocking Success: Understanding a New Era of Horror with Blumhouse Games (gamesindustry.biz): “Horror as a theme has a storied history in video games. From early releases like 1986’s unexpectedly eerie point-and-click Uninvited: Entering the Mansion to the disturbing setting of The Last of Us Part 2 – via the perennial survival horror category – games have long excelled in frightening or unnerving their audiences. But horror certainly isn’t confined to games, thanks to its pre-existing presence in written fiction, cinema, television, and even music.”

What Can AAA Games Marketers Learn From Indies? (pushtotalk.gg): “Most of the marketers that work at big budget games studios are actually really good at their jobs, because they’ve observed and internalized literally decades’ worth of best practices and rules-of-thumb – if you’re an observational, thoughtful person, you just sort of pick this stuff up from coworkers.”

Our Product Consulting Services

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