Netflix is working on launching its own gaming platform to overcome a post-pandemic downward trend in subscriptions.
Netflix‘s subscription growth is slowing, so it’s looking for other ways to bring in new users. After missing its growth forecast during the April-June quarter (adding only 1.54 million new users instead of the 1.75 million it was expecting), the streaming platform has confirmed it’s now expanding into gaming.
Related | Netflix Launches A Show-Inspired Merch Shop
In a letter to investors earlier this week, Netflix says it will soon add video games to its monthly subscription plan for no extra cost. The company didn’t specify when it will launch the new service nor what games it intends to bring into the platform.
However, it revealed that the initiative will take place as a multi-year expansion during which the platform will also be producing its own video games. “The reason we’re doing them is to help the subscription service grow and be more important in people’s lives,” explained Netflix co-CEO Reed Hastings during a recent call with investors.
According to Netflix’s chief product officer, Greg Peters, the company will initially focus on mobile games, before eventually expanding to consoles and TV sets. He also added that the games will initially be related to Netflix’s most popular programs, without this excluding the development of standalone titles.
In a bit of a speculative attitude, he hinted to Netflix one day producing a TV series or film based on one of its video games. “There’s a big, big prize here, and our job is to be really focused,” he explains.
Netflix isn’t expecting an immediate boost from its expansion in the highly competitive video game industry. However, if the expansion is successful, the company could have more leverage to keep raising its subscription fees – something it has been doing steadily for the past few years.
You might also like
More from Lifestyle
The Simpsons: Ned Flanders’ Assassin Sneakers Comes To Life
RETRO Clothing brought the infamous Ned Flanders Assassin Sneakers to life, Homer style. If there is one pair of sneakers that …
Venmo Is Launching A Teen Account And Debit Card
Venmo, the digital wallet app, is introducing teen accounts, a new service allowing parents to open an account for children …
Beats Announces Beats Studio Buds+ Wireless Earbuds
Last week, Beats announced another addition to its Studio Buds lineup - the powerful Beats Studio Buds+.
Hublot Launched A Watch Made From Recycled Nespresso Pods
Hublot and Nespresso partnered to create the Big Bang Unico Nespresso Origin, a luxury watch made from recycled Nespresso pods. You …
Tinder Will Remove Social Profiles From Bios
Tinder says it will remove social profiles from bios as part of its updated community guidelines to keep the dating …
Adidas To Resume Selling Yeezys, Profits Will Go To Charity
Six months after dropping its partnership with Kanye, Adidas has chosen to sell its inventory of Yeezys, for charity. The news …
New Beats Studio Pro Headphones Revealed In iOS Beta
The new Beats Studio Pro headphones could replace the aging Studio 3, adding personalized spatial audio to the Beat's lineup. 9to5Mac …
This Burger King Spider-Verse Whopper Is WILD
Burger King has teamed up with the Spider-Man: Across the Spider-Verse movie to create a special Whopper sandwich and Meal. Burger …
Pokémon TCG Live Is Launching This June
Pokémon TCG Live, the new Pokémon Trading Card Game app, is finally coming out of beta, after two years of …
