It’s possible that many investors didn’t quite grasp the seriousness of Netflix’s plans to get into gaming when they were revealed earlier this year.
Yet here we are, months later, witnessing what could be a major turning point in the company’s history.
What does gaming mean for Netflix?
Not one, but TWO major gaming developments have really made investors stand up and take notice of Netflix this week.
The streaming giant introduced a trio of casual games which, unlike the two already on its site, were not based on Netflix’s ‘Stranger Things’ IP, but complete originals.
These are now available on Android in Spain, Italy, and Poland. As promised when the service was first outlined, these games are completely free to play and contain no ads or promotions.
And that’s not all; it was revealed yesterday that Netflix had acquired Night School Studio, an independent game developer known for its flagship narrative-driven title, ‘Oxenfree’. Netflix’s vice president of game development, Mike Verdu, hailed the acquisition as a major step in the company’s plans to build out the streamers gaming library.
Netflix is certainly putting its money where its mouth is, with plans to bring this service to the U.S. and Europe in the near future, as well as expanding to iOS. While investors may have qualms about the amount of money it spends on this venture, as well as its feasibility, it’s important to note that it’s still early days.
Also, it is likely that as it grows, gaming will become a paid add-on. But for now, it’s set to combat U.S. market saturation and increased competition from the likes of Disney+. Being at the top costs money, and luckily, Netflix has lot’s to spend.
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Editor at MyWallSt
Jamie is the Content Editor here at MyWallSt. His favorite stock is Apple, which is also the first stock he ever bought. Jamie is not only a big fan of its products, but he believes that the tech giant has a whole lot more to give the world, and hasn't even scraped the surface of its potential.