An investor letter published Oct. 18 (via The Verge) quotes Netflix as saying the games are a "multi-year journey," indicating that the major streaming service is in the game for the long haul. The company believes that players will continue to watch its content because of the game, and sees "some encouraging signs of gameplay leading to increased engagement." Still, according to recent reports, 99% of Netflix customers haven't even tried the games. Only a small portion of Netflix's 221 million subscribers, an average of 1.7 million daily, use the service for video games. Since Netflix Games debuted in November 2021, more than 23.3 million people have downloaded the games.
For the development of contemporary mobile video games, Netflix has acquired numerous independent game studios. By the end of this year, the streaming company expects to launch up to 50 titles. The company also opens a studio in Helsinki, Finland, to strengthen its internal efforts to improve leisure time. Additionally, Netflix added 2.4 million new customers in the third quarter of 2022, a huge improvement over the first few months of the year. For the first time in over a decade, the streamer has reported losing subscribers.
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