Netflix just dropped Season 2 (titled “Squid Game 2”) on Christmas Day 2024 — more than three years after the original season became a sensation. Season 2 ended on a cliffhanger, with the game’s returning champion leading a bullet-filled rebellion against the mysterious Front Man (Lee Byung-hun).

At a press event on Wednesday, Netflix Chief Content Officer Bela Bajaria rolled a brief clip from “Squid Game 3” in which players alternate randomly receiving either red or blue balls out of a giant gumball machine, deciding teams. Gi-hun is still alive and will again be fighting for his life. Who knows what deadly game awaits them.

“Squid Game” is created, written, and directed by Hwang Dong-hyuk and follows a secretive game in which players fight to the death in children’s games for the chance to win 456 billion Korean won.

The first season of “Squid Game” remains Netflix’s most popular show in its history, surpassing even English-language hits like “Stranger Things ” (Seasons 3 and 4 at least; the first two seasons predate Netflix’s data-transparency era) and “Wednesday.” “Squid Game 2” is currently fourth overall and still within Netflix’s self-imposed 91-day cutoff for its all-time leaderboard. It will likely fall short of the record mark set by Season 1.

The final season of “Squid Game” will arrive in 2025 alongside the final seasons of “Stranger Things,” “You,” the rest of “Cobra Kai,” and “Big Mouth,” as well as the second season of “Wednesday” starring Jenna Ortega. We do not yet have firm premiere dates for “Big Mouth,” “Stranger Things 5” or “Wednesday.”

After concluding 2024 with 302 million global subscribers, a staggering jump in its final quarter of the year thanks to “Squid Game” and buzzy live events like the NFL football games and the “Tyson vs. Paul” fight, Netflix is set up for a huge 2025. With the surge of subscribers, Netflix is also raising prices for the first time in over a year.

Check out some first-look photos for “Squid Game” Season 3 here: