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1
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· Posted on
February 21, 2024

Netflix has got a new strategy: Game the system to boost the balance sheet

After having it rough last year, Netflix is looking to dabble into a new industry: gaming.

What's the key learning?

  • Netflix introduced mobile games in 2021, and this year they're looking to launch 40 games and working on a high-budget production.
  • The gaming industry is worth nearly $200 billion USD per year, but it's super hard to crack.
  • Less than 1% of Netflix subscribers regularly engaged with its games so far.

👉 Background: We know Netflix as the global streaming service and production company that's become all of our bing-watching haven.

👉 What happened: Netflix had a rough 2022 as revenue and new subscribers slowed down. So now, the 'Flix is looking to dabble into a new industry: gaming.. And they're taking it seriously too.

👉 What else: Netflix introduced mobile games in 2021, and this year they're looking to launch 40 games and working on a high-budget production.

What's the key learning?

💡The gaming industry is super hard to crack... But once you're inside, there are rivers of delicious revenue.

💡The gaming industry is worth nearly $200 billion USD per year. And new-entrants have had a hard time competing against the OG gaming companies like EA Sports, Nintendo, and Activision.

💡In fact, less than 1% of Netflix subscribers regularly engaged with its games so far. So it needs to do a much better job at creating engaging games around its loveable characters.

‍

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