© Reuters.
Netflix (NASDAQ:) is reportedly expanding its presence in the gaming industry by leveraging the studios it has acquired to create more game titles based on popular Netflix movies and TV shows.
While the streaming giant initially focused on mobile games, it is now looking to develop higher-end games that can be streamed on TVs or PCs, competing with major players like Sony (NYSE:) and Microsoft (NASDAQ:), the Wall Street Journal reported.
In the coming months, Netflix subscribers will have the opportunity to play games on their mobile devices based on popular shows like “Squid Game” and “Wednesday.” Netflix is also in discussions to create games based on other content like “Extraction,” its Sherlock Holmes series, and “Black Mirror.”
In addition to developing its own titles, Netflix will continue to license existing games in its catalog.
Furthermore, Netflix has explored the possibility of releasing a game within the popular “Grand Theft Auto” series through a licensing deal with Take-Two Interactive Software (NASDAQ:).
Netflix’s games are currently offered to subscribers at no extra charge, and the company does not generate revenue directly from these games. The primary purpose of these games is to enhance the overall subscriber experience by providing an engaging and interactive element to the platform.
It serves as a strategy to retain existing subscribers and attract new ones, especially during periods when their favorite shows are not actively releasing new content.
