Netflix, the video streaming giant, is entering the gaming market
It’s been reported that the company is in search of an executive to head up expansion into gaming; one of the fastest growth opportunities globally.
In a report published by “The Information”, Netflix has approached numerous “veteran game industry execs” in its hunt for leadership in their new venture.
It’s likely that Netflix is looking to add a bundle, or separate streaming service to its portfolio of movies and television programs. And gaming makes sense. They already enjoy the largest market-share in the entertainment streaming business – roughly 20% of the US market, but are currently behind their competition when it comes to gaming.
In 2019, Apple launched a bundle in the gaming space with exclusive games called Apple Arcade. At $4.99 a month, the service is quite affordable and has allowed Apple to get-out-of-the-gate before other streaming rivals.
While user growth has been comparatively slow, the service has seen great reviews and is just now beginning to take off. In fact, Apple just announced a major expansion of the bundle.
However, with the larger reach of Netflix, a new gaming segment within the company could soon dwarf any streaming numbers from Apple. With Netflix already enjoying 20% of the US entertainment streaming market, offering video game bundles could quickly leap-frog them over any competition.
Read more about Netflix entering the gaming market HERE.
SOURCE: https://www.polygon.com/22447410/netflix-executive-games-expansion-the-information-report