Netflix is now striving to diversify its content offerings to grow its business. Get ready for 50 more Netflix games this year.
Netflix Has Been Investing Heavily on Gaming
A source familiar with Netflix's thinking told The Washington Post that the firm is looking at content prospects around video games from every angle.
The platform's most recent move is to flip the show-to-video-game pipeline on its head, stating that it will produce both a TV show and a mobile game based on the popular tabletop card game Exploding Kittens.
The publication reported that Netflix has been putting a lot of money into gaming. After declaring its plans to enter the video game market last July, the streaming service has hired a number of executives to key positions in its gaming division in recent months, while also producing mobile games such as Stranger Things: 1984.
Gamespot also said that it has adapted major gaming franchises like League of Legends into shows like "Arcane."
It was said that by the end of the year, the firm will have nearly 50 mobile games available. Netflix's mobile games are available in the Apple App Store for iOS and the Google Play Store for Android users, however, they are exclusively available to Netflix subscribers.
As per The Washington Post, the announcement comes after it was revealed on Wednesday, April 20, that Netflix's stock had lost more than a third of its worth.
Following the invasion of Ukraine, Netflix reportedly lost over 700,000 customers after pulling out of Russia. Netflix also blamed password sharing and high competition from outlets like Disney Plus and Hulu.
Read More: Netflix Games List: How to Play 'Arcanium,' 'Krispee Street'
While the firm is concentrating on producing more hit series such as "Squid Game" and "Bridgerton," it is also purchasing gaming studios with a long-term strategy.
Netflix, as reported by Gamespot, has so far acquired three game studios. Boss Fight Entertainment, based in Texas, Next Games, based in Finland, and Night School Studio, based in California, are all owned by Netflix.
Pressure Mounts on Netflix; Will It Lose Its Employees?
Maybe this move was influenced by Netflix's declining subscriber confidence.
Netflix's stock is plunging after the streaming service's first subscriber drop in more than a decade.
As previously reported, Netflix's stock has dropped 35% after the streaming service announced a significant drop in users and warned that millions more are likely to leave in the near future.
Employees' confidence in the company's long-term trajectory has been shaken by a record drop in its stock price.
"According to the company's latest earnings report, which was released on Tuesday, its customer base decreased by 200,000 subscribers during the period from January to March.
As Netflix's stock price plummets to its lowest level in more than five years, the company faces the prospect of losing its most valuable resource: its employees," the report read.
Working at Netflix has long been regarded as one of Hollywood's most desired positions. The company is one of the most well-known companies in the world, pays well, and offers the chance to work with the people that revolutionized the way people watch television.
"As a result of declining company performance, many employees' options have lost their significance. People who had tens or hundreds of thousands of dollars in their bank accounts are now left with nothing."
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