Netflix’s Gaming Platform Levels Up
Estimated reading time: 2 minutes
Netflix (NFLX) has been doubling down on its recent foray into the video game industry. Its internal gaming team now sits at roughly 400 people, and is hiring more.
So far, Netflix has used mobile games as its entry point into the gaming market but wants to get into games that can be streamed from TVs or PCs.
So far, Netflix has invested $1 billion in its gaming division. However, it has a few key advantages.
As of September 20, the company’s games have been downloaded 70.5 million times, up from 30.4 million downloads last year. While this may be impressive year-over-year growth, it still pales in comparison to the world’s biggest games.
But Netflix has other aces up its sleeve. While companies like Microsoft (MSFT) must complete massive acquisitions in order to offer gamers recognizable titles, Netflix has an acclaimed content library to pull from. It has already created games for the popular shows Squid Game and Wednesday.
Read more reporting here.
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