Netflix had also created games based on some of its world-famous shows like Stranger Things and Money Heist (La casa de Papel). There has been a rise in gaming during the recent covid-19 pandemic situation, and this might have been the reason behind the entry of Netflix into the sector.
While the details of the company's games strategy are still very much in flux, it has decided that the games will not feature advertising, the report said.
N-Plus subscribers will also likely help in influencing the production of a pre-planned show, offer feedback, and help Netflix decide the course of action before they commit to production costs.
How Netflix can out-stand in the gaming industry?
Netflix is one of the largest streaming sites for movie and television series. With such huge popularity among the industry, it can easily be inferred that Netflix segments its users based on psychographics and not on demographics.
In fact, there are a total of three elements that are making all the difference are:
- Affordable price
- Original content.
Reason Behind Netflix New Move?
- The total gaming market now exceeds $300 billion, according to an April study by consulting firm Accenture, Netflix’s move would open a new and highly lucrative stream of revenue for the streaming giant.
- Netflix is no stranger to video games it has aired shows based on video game properties such as Castlevania, and Dragon’s Dogma.
- It has also created games based on shows Stranger Things and La casa de Papel (Money Heist).
Netflix is looking to hire an executive to oversee its expansion into video games, a person familiar with the matter said, a sign that it is ramping up efforts to grow beyond its traditional business as streaming competition intensifies. As the company is looking to hire an executive for monitoring its expansion into the gaming sector, we can be quite sure about its entry into the new sector.
This move of Netflix seems to be quite similar to Apple’s online subscription ‘Apple Arcade’ which provides a bundle of games. The move comes at a time when the video gaming industry has benefited from a surge in demand from gamers staying at home during the COVID-19 pandemic. Netflix has reportedly approached veteran gaming industry executives for the job.