Netflix

Global streaming giant Netflix is hoping to add 50 games by the end of 2022 for it’s subscribers as per the news report from The Washington Post.

Netflix is facing tough competition from other streamers like Amazon Prime Video, Disney Plus, Apple Plus, HBO Max, Paramount Plus, and others so the company just wants to become less reliant on films and TV shows and add something more for it’s subscribers. Last week, the company announced it’s Q1 22 report and for the first time, it has lost a subscriber base in nearly 10 years.

The company initially offered it’s first game last November and since then it has added a few more gaming titles to it’s platform. It has also acquired a few gaming studios like Night School, Next Games, and Boss Fight Entertainment.

Netflix CEO Reed Hastings said during an investor call,

“I’m really happy with what the team has built, a big capacity to be able to provide our members with interactive and gaming experiences. We’ve had some nice successes, which I’ll have Greg talk about. So I think we’re building capacity, frankly, faster than we did when we entered film. So that’s very encouraging. So excited, and you’ve seen we’ve been doing these small acquisitions to build up the know-how and the creative chops to be able to make some really great gains”.

Company’s Chief operating officer Gregory Peters said in a statement,

“We’re open to both models (licensing IP and doing M&A). But I would say, we’re very enthusiastic about building internal capacity. And we’re doing this both from sort of assembling it organically as well as through acquisition, which is a key part of our strategy to be able to build the capacity to produce the games titles that we think are really going to unlock value for our members. And we’re learning more and more every day from the licensed titles that we’ve got, which is helpful.

But you can sort of — there’s an early glimmer of where we’re trying to head with this with the announcement we just recently did with a launch of both a game and an animated series around the Exploding Kittens IP. I don’t know if you’re familiar with this card game, but it’s a super fun physical card game that we’re now going to bring to form in both an animated series and a game. And we’ll have some interplay between these 2 different modes for fans of that IP. But that’s sort of the — an initial step on a long road map we have around thinking about how do we make the film and series side and then the interactive games experience, sort of the interplay between those, magnify the value that our members are getting from both.

So it’s like a 1 plus 1 equals 3 and then hopefully 4 and then 5 situation. So that’s sort of the multiyear vision that we’ve got behind it. And really to deliver on that, we think the internal development capacity is going to be key because we can obviously have those folks be very specifically focused on the opportunities that we see there”.

The statement of the company’s CEO and COO is taken from Seeking Alpha.

Other Trending News:-  News

LEAVE A REPLY

Please enter your comment!
Please enter your name here