Netflix enters gaming industry with new acquisition
Netflix makes foray into gaming as it buys Night School Studio
Netflix is making its foray into the gaming market with the acquisition of game maker Night School Studio.
The deal, announced by Netflix in a company blog post, cites the firm’s ambition to move into the gaming industry to “deliver a great collection of exclusive games designed for every kind of gamer and any level of play”.
Night School Studio was created by Sean Krankel and Adam Hines in 2014 and is best known for its debut game Oxenfree.
Billion dollar industry
The mobile gaming market is already larger than the PC and console gaming markets combined, contributing nearly 57% of the $173bn (£128.8bn, €149bn) global video games revenue in 2020, according to a recent study.
The industry is also predicted to grow to $272bn by 2030, up from $98bn in 2020, at an annual growth rate of 11% over the period.
Inspired by storytelling
The acquisition will push Netflix to diversify beyond its streaming services as it faces competition from the likes of Disney+, Amazon Prime and Apple TV.
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Netflix said its team was inspired by the California-based start-up‘s “bold mission to set a new bar for storytelling in games” as it embarks on a new journey to “build out the creative capabilities of Netflix games”.
Mike Verdu, Netflix‘s vice-president of gaming development, added: “We’re in the early stages of creating a great gaming experience for our members around the world.
“We’ll continue working with developers around the world and hiring the best talent in the industry. Like our shows and films, these games will all be included as part of your Netflix membership – all with no ads and no in-app purchases.”
“Stay tuned for more,” added Verdu.
The purchase price of the acquisition has not been disclosed.