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Netflix co-CEO Greg Peters affirms that their strategy to enter the gaming industry follows a deliberate "crawl, walk, run" approach.
Image credit: Netflix
Netflix took its first step into the game industry in November 2021, introducing five iOS and Android titles that could be accessed through a Netflix subscription. Since then, the streaming giant has expanded its gaming catalog to include more than 70 titles and has made significant acquisitions, including game developers Spry Fox, Next Games, and Night School Studio. These acquisitions brought renowned titles such as Triple Town, Cozy Grove, The Walking Dead mobile games, and Oxenfree under the Netflix umbrella.
However, subscribers have shown minimal interest in Netflix Games. According to CBNC, market analyst firm Apptopia reported that less than 1% of Netflix's 247.15 million subscribers engage in daily gaming. Additionally, it's projected that an average of 2.2 million users played one or more titles per day as of September.
Image credit: Night School Studio, OXENFREE II: Lost Signals
Netflix's gaming library has expanded significantly, growing from 24 to 77 games within the past year. These games have been downloaded approximately 70.5 million times worldwide.
Netflix's co-CEO Greg Peterson mentioned on a prerecorded earnings call with CBNC that the user count trajectory for their gaming segment is similar to previous trends. He expressed optimism about the long-term value of entertainment and the significant opportunities for growth.
"This trajectory is not dissimilar from what we've seen before. When we've launched a new region — or when we launched new genres, like unscripted we had to crawl, walk, run, but we see a tremendous amount of opportunity to build a long-term center value of entertainment," shared Peterson with CBNC.
In terms of Netflix's gaming initiatives, the Wall Street Journal recently reported that the streaming service plans to develop mobile titles based on popular series such as Wednesday, Black Mirror, and Squid Game. There are also reports of Netflix being engaged in discussions regarding the release of a game from Rockstar's Grand Theft Auto series, as part of its expanding presence in the game industry. However, the specific title and the outcome of these discussions remain undisclosed.
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