Netflix is finally offering a peek at its Squid Game reality show. The streaming service has shared a teaser trailer for Squid Game: The Challenge, a competition series now set to premiere this November. The clip doesn't reveal much of how contestants will participate, but it's evident that Netflix is trying to recreate as much of the original production's atmosphere as possible — right down to the giant "red light, green light" doll. Without the bloodshed, of course.

The 10-episode run has 456 people competing in events both "inspired" by Squid Game and new for the show. The winner receives a large $4.56 million prize, so there's a strong incentive to stick through to the end. Netflix filmed the series earlier this year.

There's no mystery behind the existence of The Challenge: it's a bid to capitalize on the success of Squid Game. The Korean drama remains Netflix's most popular TV show of all time, with over 1.6 billion viewing hours as of June (even Stranger Things season 4 has 'just' over 1.3 billion). Given that Netflix is fond of spinoffs for popular shows, it may have just been a matter of time before the company built on demand for its best-known series.

There isn't as much pressure to release Squid Game: The Challenge as there was upon its announcement in 2022, when Netflix dealt with rare subscriber losses. The company is in a stronger position as of mid-2023 — it added nearly 1.8 million subscribers in the first quarter, and appears to be reaping the rewards of a password sharing crackdown. The firm still faces stiff opposition from rivals like Amazon, Disney and Paramount, however, and a series like this could be key to growing viewership alongside expected blockbusters like 3 Body Problem and the next seasons of Bridgerton and The Witcher.