- Netflix launched its video game streaming service in November 2021 and has invested in mobile app games.
- The streaming giant has since bought several development studios and expanded its gaming-focused staff.
- Netflix’s move to interactive streaming comes as growth slows to single digits.
While Netflix is chasing a younger audience and struggling to keep content from its existing subscribers, the streaming giant is eyeing a new chapter: video games.
With the launch and rebranding of competitors like HBO’s Max and Disney+ in recent years, and each channel creating its own central hub for content, limiting the number of shows available on Netflix, the OG streaming service has had to refocus to contemplate its next chapter. related to , this time investing heavily in the world of interactive entertainment.
“We compete (and lose) with Fortnite more than HBO, the company. book Online gambling cited the viral sensation in its 2019 earnings report.
In late 2021, Netflix began co-developing its own mobile app Game. The company has hired dozens of new employees and set up its own studio in Helsinki, Finland, to develop new streaming game titles, Insider reports.
Wednesday, Netflix It released its latest game, a graphic adventure game developed by Night School Studios called OXENFREE II: Lost Signals. The point-and-click supernatural thriller sequel is available on the Netflix mobile app, Steam, PlayStation and Nintendo Switch.
Netflix officials did not immediately respond to Insider’s request for comment.
The move into video games comes at a time when Netflix’s growth has slowed dramatically — according to Netflix’s records. Stock analysisThe annual growth of the company till last year was not less than 12%. Despite revenue of $31.62 billion in 2022, the company ended the year with only 6.46% growth compared to 18.81% in 2021 and 24.01% in 2020.
It’s still unclear if Netflix’s latest venture will be a success, especially since other companies like Google have shut down their game streaming services… Less than three yearsBut the company has been a pioneer before: In 2007, Netflix pioneered the entire entertainment industry’s transition to streaming.
So far, Netlfix’s slow but steady pace, especially when compared to its competitors, seems to be having a positive impact on developers. Ringtone to call
Night School Studios was the first acquisition of the Netflix game studio and was acquired in September 2021, a month after the streamer released two beta games related to the Stranger Things series. TechCrunch to call
“We’ve seen a lot of people getting into the space and trying to make big swings,” Ringer, Nightschool founder Shawn Krankle said this week. “[We heard] Initially, this approach was very careful and measured and not, “Let’s go to the top of the mountain and put the Netflix flag up there and.” [say] We change the industry. “
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