On the identical soundstage the place Bob Barker lorded over “The Worth Is Proper,” “Squid Sport” is coming to life.

On Wednesday, Netflix will unveil its newest reside expertise, primarily based on the dystopian hit present by which determined South Koreans competed in a brutal contest of straightforward schoolyard video games for a prize of 45.6 billion received (round $38 million). Winners moved nearer to the cash. Losers died. The reside attraction mimics each the favored iconography of the sequence — the huge piggy financial institution full of money, an enormous animatronic doll named Younger-hee, the sterile white dormitory — and the infantile video games.

For $30, followers of “Squid Sport” will compete in some 70 minutes of play, with ethical twists and turns and 6 group actions, together with the schoolyard race Crimson Gentle, Inexperienced Gentle and a nonlethal model of the sequence’ terrifying Glass Bridge problem, which compelled contestants to decide on between two clear squares for every step throughout a bridge. In the event that they selected incorrectly, they descended a whole bunch of ft to their loss of life.

To really feel much more like a personality on the present, clients should purchase a tracksuit for $50 and put on it throughout the expertise. There may be additionally a $100 V.I.P. ticket possibility: In a nod to the unique, you’ll be able to watch the unlucky lots compete within the video games whilst you sip cocktails in a swanky lounge.

“It’s all of the enjoyable with out the loss of life,” mentioned Greg Lombardo, Netflix’s head of reside experiences.

Netflix plans to increase the reside expertise into different cities, however no further places have been confirmed. It’s considered one of a number of “Squid Sport” diversifications that Netflix has deliberate within the hope of protecting viewers engaged throughout the lengthy hole between the present’s first season, which debuted in September 2021, and its second, which is filming in South Korea and can come out subsequent yr.

One is an unscripted English-language competitors present, “Squid Sport: The Problem.” Its first 5 episodes debuted on Nov. 22, and a second batch turned out there on Wednesday; the ultimate episode will arrive Wednesday.

Additionally coming quickly is a online game by which gamers will have the ability to compete with characters from the sequence. A digital actuality sport is already out there, and in Brazil, Burger King has been providing “Squid Sport”-themed meals combos in 4 cities. (Look after an umbrella-shaped onion ring to go along with that shake?)

The model offshoots comply with a system that Netflix has employed efficiently for different standard reveals, like “Bridgerton” and “Stranger Issues.” A “Stranger Issues” play that the streaming service helped develop will open in London’s West Finish on Dec. 14.

The enlargement of mental property just like the “Squid Sport” model, nevertheless, is getting extra scrutiny in Hollywood. In recent times, the closest an leisure studio may get to a certain factor was a franchise spun from a well-liked piece of mental property: A movie begets a sequel begets a theme park trip begets a line of client merchandise. Now a specific amount of viewers fatigue has set in.

Marvel movies like “Ant-Man and the Wasp: Quantumania” and “The Marvels” struggled on the field workplace. The current Harry Potter spinoff, “Incredible Beasts: The Secrets and techniques of Dumbledore,” and the D.C. Comics movie “The Flash” additionally underperformed. The business has been compelled to ask: What deserves franchise-building consideration, and when is it an excessive amount of?

“I’d say generally when you could have I.P., for those who simply do an excessive amount of of one thing, that may dilute what it’s,” Netflix’s chief content material officer, Bela Bajaria, mentioned in an interview. “The opposite factor we have a look at is, are you being true to the DNA of the present and why individuals beloved it however increasing that connection?”

The explanations that Netflix is attempting to increase “Squid Sport” are apparent. Not solely is it the most-watched present on the platform however unsanctioned merchandise from the sport, together with tracksuits and Younger-hee dolls, started promoting nearly instantly after its debut. Netflix now works with two world companions to fulfill the demand for the inexperienced athletic put on, particularly round Halloween.

Influencers have additionally capitalized on the present’s recognition. Final yr, the YouTube star MrBeast enlisted 456 contestants to compete for $456,000 by enjoying tug of battle and Crimson Gentle, Inexperienced Gentle. The video of the content material generated 112 million views within the first 5 days on-line.

With that sort of curiosity in an out of doors model of a real-life “Squid Sport,” Netflix determined the time was proper to attempt to capitalize with a actuality present of its personal, however in English, in order to not confuse audiences.

“I used to be very curious how individuals would react to these video games, the conditions, the ethical dilemmas,” mentioned Minyoung Kim, Netflix’s head of Asian content material, who was answerable for bringing the South Korean present to the service.

Nonetheless, some query whether or not a actuality present primarily based on the South Korean filmmaker Hwang Dong-hyuk’s bleak view of his nation’s class struggles and the worldwide inequities of modern-day capitalism ought to exist in any respect.

Whereas “Squid Sport: The Problem” debuted on the high of Netflix’s English-language TV checklist with 20.1 million views and the unique present vaulted again into the Prime 10, evaluations of the fact sequence have been scathing. Most criticized the 10-episode season for lacking the broader critique of capitalist tradition that’s on the coronary heart of the nihilistic sequence.

“I see it clearly as an try and increase and monetize a franchise, however it appears significantly absurd given the anticapitalist message of the present,” mentioned Miranda Banks, the chair of Loyola Marymount College’s movie, tv and media research division.

“‘Squid Sport’ was a South Korean sequence, and it’s inflected with the politics of South Korean tradition,” she added. “So a part of this isn’t only a translation of the style, however it’s additionally a translation of a nation. And in doing that, it isn’t stunning — and it’s arguably fairly hilarious — that it turns into a pro-capitalist dream fulfilled.”

The producers of the fact present are conscious of the irony. However they mentioned that by hewing as near the unique as attainable — the identical variety of contestants (456) and a life-changing quantity of prize cash ($4.56 million) — they felt they might create compelling tv regardless of the decrease stakes.

“This was a drama that was a lot about the truth that individuals who had been eradicated had been killed,” the producer Stephen Lambert mentioned. “We had been clearly by no means going to do this, however having such an enormous prize pot meant that once you had been eradicated, your goals died, and so they had been actually large goals that individuals had.”

(The filming of the fact present has generated its personal drama, with complaints from a number of contestants about “inhumane” circumstances. When requested concerning the complaints, the producers mentioned in an announcement that they “take the welfare of our contestants extraordinarily critically.”)

Nonetheless, does permitting followers to play together with a social satire cheapen its integrity?

Ms. Banks doesn’t consider so.

“I believe that you simply most likely have the followers who’re there for the social commentary and the drama and the state of the sport,” she mentioned. “After which you could have the individuals who like to play video games. That is perhaps totally different age teams. It is perhaps totally different demographics.”

For Marian Lee, Netflix’s chief advertising and marketing officer, the model offshoots are doing their job — bringing renewed consideration to “Squid Sport” — but she acknowledges the dangers of making so many variations that relied on the identical supply.

“Now we have a vastly standard present that principally captures the cultural zeitgeist, however the doll, all of the iconography, is carried by to the unscripted,” she mentioned. “For us as a advertising and marketing staff, how do you make it possible for individuals perceive that that is an unscripted model of that, and never the second season but? It’s a must to make it possible for followers are following alongside: Oh, that is the unscripted model. Oh, that is the reside expertise. Oh, Season 2 is coming.

“The fandom is there. It’s simply ensuring that we’re in a position to create distinct moments for every of these issues.”