Netflix’s big budget Korean film The Great Floodproduced with an estimated budget of ₩30 billion (about $22 million), it is facing serious repercussions not only from viewers, but also in the stock market.
Following a wave of negative reviews, shares of related company M83, which handled the film’s visual effects, have plummeted to record lows, leaving investors facing what is effectively a 100% loss.
According to the Korea Exchange on December 27, M83 shares closed at ₩8,950 on the previous trading day, marking the lowest level since the company’s listing. The price fell to nearly half the IPO price of ₩16,000, dealing a blow to investors who had anticipated earnings from The Great Floodthe release.
M83, a media and entertainment company specializing in CG and VFX for film and drama, went public on the KOSDAQ in August last year. Before the film’s release, market analysts predicted this The Great Flood would serve as an important catalyst for the company’s growth. Instead, the opposite happened.
Industry observers believe the sharp decline reflects growing disappointment over the film’s reception in Korea.
Released on Netflix on December 19, The Great Flood quickly became one of the year’s most controversial titles on the platform nationwide. Viewer reactions ranged from I couldn’t even finish 30 minutes TO I feel completely deceived. On the Naver rating platform, the film’s scores polarized sharply between the lowest (1 star) and the highest (10 stars), sparking heated debates online.
The film follows AI researcher Gu Anna (played by Kim Da-mi) as she fights to survive with her son inside a flooded apartment complex after a global deluge caused by an asteroid impact. Although advertised as a high-stakes disaster survival film, many Korean viewers felt misled.
Critics point out that promotional posters and trailers that emphasize submerged buildings and desperate survival scenes create expectations for a classic Korean disaster film in the wake of Haeundae, TunnelOR Exit. However, as the story progresses, the narrative focuses heavily on artificial intelligence and simulation concepts.
This change in tone reportedly left audiences confused and frustrated. I thought it was a disaster movie, but it turned out to be something completely different, has become one of the most common complaints. Many viewers described the experience as a waste of time.
Paradoxically, the national negative reaction contrasts starkly with the film’s global performance.
According to Netflix, The Great Flood ranked first in the world’s top 10 non-English films, topping viewing charts in 54 countries, including South Korea, Spain, Brazil, Qatar and Thailand. The film also entered the Top 10 in 93 countries, demonstrating strong international interest.
Despite its global success, analysts note that Korean audiences appear particularly sensitive to mismatched gender expectations, an issue that may have amplified investor disappointment and anxiety.
AS The Great Flood continues to spark debate, the case highlights the growing disconnect between global streaming metrics and domestic audience sentiment and serves as a cautionary tale for investors who bet heavily on hype alone.
Sources: Daum
