Netflix to Release More Games Based on its IPs
– 2 min read
Streaming giant Netflix is continuing its focus on games, with plans to release more titles based on its own IPs - ideally to coincide with the launch of new seasons or episodes. Starting in July, the company plans to release about one new game per month.
In its quarterly report (Q2), Netflix also talked about its games strategy, which is now in its third year. "In that time we've seen how big existing games like Grand Theft Auto can be on Netflix, even at this early stage," Netflix states. In that time, they have also found that games based on Netflix IP are also very appealing, especially when timed to the launch of a series or film. That's why games based on Netflix IPs will be released in time to coincide with the start of new episodes/seasons. "In September 2023, we launched Netflix Stories - an ever increasing catalog of interactive fiction games based on hit Netflix series and films - with Love is Blind. In Q2, we added Virgin River and Perfect Match. Starting in July we'll launch about one new title per month like Emily in Paris and Selling Sunset." Separately, a multiplayer game based on the Squid Game universe is planned for later this year, to coincide with the launch of the second season of their "biggest TV series ever".
Netflix had a strong Q2 with 17 per cent revenue growth (revenue: $9,559 million; net income: $2,147 million) and an operating margin of 27 per cent vs. 22 per cent last year. For the full year 2024 the comapny expected reported revenue growth of 14 per cent to 15 per cent. Netflix: "If we execute well - better stories, easier discovery and more fandom - while also establishing ourselves in newer areas like live, games and advertising, we believe that we have a lot more room to grow. Across streaming, pay TV, film, games and branded advertising, it's a $600B+ market, and today Netflix accounts for just ~6% of that revenue. But success starts with the consumer. Because when we delight people with our entertainment, Netflix can drive higher engagement, revenue and profit than the competition. This in turn creates a more loved and valued entertainment company - for our members, creators and shareholders - that we can strengthen and grow over time."
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