Netflix eyes expansion into video games; company searching for an executive: Report

The streaming platform Netflix is reportedly experimenting with a series of video games for interactive experience as it plans to jump into the gaming industry following sluggish market growth, and stock value tumble of 29 percent after the launch of streaming platform Disney+ in December 2019. According to several reports, in view of the tough race with the giant firms such as Facebook, Apple, Amazon, and Google, Netflix is now eying to gross on profits from the video gaming industry as well as is looking to hire an executive to oversee an expansion of its business.  

The streaming service has approached "veteran game industry executives" to fill positions for the gaming operations as it ramped up efforts to surpass traditional businesses, a report carried by The Information first revealed. The move comes at the time of the global coronavirus pandemic, which Netflix stated, has surged the demand from gamers. In the past, Netflix has used the conceptual idea around the plot of Hollywood movies such as Black Mirror: Bandersnatch and You vs. Wild for interactive programming, and series such as Stranger Things, La casa de Papel, or Money Heist to compute the games that allowed the players to steer the actions of the characters and self run the plot. 

Higher-level “N-Plus” subscriptions

As per the report, the company also plans to expand its video streaming subscriptions through higher-level “N-Plus” subscriptions. This, in turn, will allow the users to access podcasts, custom TV show playlists, and behind-the-scenes content. Netflix has also been rolling out a survey and a questionnaire to evoke interest in the users about its upcoming video gaming project. The streaming platforms already considers blockbuster shooter, Fortnite, as its biggest competitor. The video games launch by Netflix is expected to hit the market by 2025 will fetch an estimated US$300 billion (£232 billion) for the company. Currently, the company’s global revenue from streaming services stands at approximately US$23 billion (£18 billion). Netflix’s gaming service will follow the model of Apple Arcade which allows its consumers to pay a fixed monthly deposit and access from a wide range of streams as well as games. Netflix’s video games will not feature any advertisements.