Netflix is currently looking to support its business by exploring other content opportunities. According to the Washington Post, video games are a particular focus, and Netflix intends to offer nearly 50 mobile games for subscribers to play by the end of this year.
After announcing its intention to explore the field last July, Netflix began to get more involved in the gaming space. Since then, it has hired several different executives in key positions over the past few months. At the same time, Netflix also released mobile games such as Stranger Things: 1984.
Video games have become fertile ground for the company. It not only turned TV shows like Stranger Things into mobile games, but also adapted popular game IPs such as League of Legends into programs like "Battle of Two Cities" and so on.
The news comes after Netflix lost more than a third of its stock valuation on April 20, 2022. After Netflix pulled out of its Russian operations, the company reportedly lost more than 700,000 subscribers.
For its part, Netflix attributed subscriber churn to competitors like Hulu and Disney+, as well as the practice of sharing accounts.
Netflix owns Texas-based mobile game studio Boss Fight Entertainment, Finland-based Next Games and California-operated Night School Studio.