Netflix is not a company that is known for doing things in a small way, case in point, their foray into video games that is taking place right now. 

In a sign that they plan to be bold in this new space they have made two splashy hires for this expansion.  Mike Verdu is coming over from Facebook, where he was previously their VP who worked with developers with the intent of bringing games to their Oculus VR headsets. Before Facebook, Verdu held a major position at Electronic Arts. 

Netflix is planning on having their games on the platform within the next year Bloomberg reported. 

The games will be placed on the streaming app as new programming, and will be rolled out similar to how Netflix showcased documentaries and comedy specials. 

As for the cost of your membership, don’t worry, no plans of jacking the prices up.  Yet.  Wall Street was a fan of the news, as the stock jumped almost 3%. 

GameStop stock took a major dive off this news, falling 7.5%. 

One of the big picture hopes for Netflix is adding the gaming platform will enhance their engagement, and has licensed rights to games based on some of their shows.  

In past earnings calls both Reed Hastings and Ted Sarandos have hinted about their desire to get into gaming, and have specifically referenced Fortnite as a game that competes for their customers time. 

Add comment

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.


LISTEN NOW

VT Audio Episodes