Streaming media company Netflix announced in its July 18 earnings report that it is investing heavily in the gaming sector. More than 80 video games have been developed in various genres and there are plans for a fixed release schedule.
80+ Games Currently in Development at Netflix | Evening Buzz
Netflix co-CEO Greg Peters noted last week that the company is committed to tapping into the gaming market during the company's second-quarter 2024 earnings briefing. Peters said Netflix is in the third year of its gaming initiative and discussed how it has already launched more than 100 games. "We set ourselves pretty aggressive engagement growth goals [in gaming] and we've met those and in many cases exceeded those," Peters said, adding that the push into gaming tripled engagement in 2023.
These numbers may surprise some gamers, as Netflix doesn't seem to be a major player in the gaming space. Peters argues that Netflix's current investment in gaming is actually "pretty small," but suggests that it's a good avenue for the company to pursue.
As a streaming company focused on TV, most would expect Netflix to stick to the one thing it does best. That would be the assumption, especially now that it has considered more aggressive methods of acquiring subscribers, including implementing an ad-supported tier and taking steps to curb password sharing.
