The dominant paid streaming service Netflix is making one of its boldest moves by expanding into video games amid tight competition in the near-satura

Netflix Marches into Video Games: Server Supplier ASRock to Enjoy Growth

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2021-07-16 11:30:09

The dominant paid streaming service Netflix is making one of its boldest moves by expanding into video games amid tight competition in the near-saturated U.S. streaming market.

Netflix had been hiring people from gaming. According to Bloomberg, Netflix has hired Mike Verdu, the biggest name yet who was the former Oculus and Electronic Arts game developing leader.

Although Netflix is still well ahead of its streaming rivals such as Disney+ and HBO Max, but added fewer new subscribers than expected in the latest quarterly report. Meanwhile, t he gaming business is huge. The gaming market size is projected to reach US$398.9 billion by 2026, from US$192.1 billion in 2019, at a compound annual growth rate of 11% during 2021-2026, according to Valuates Report. As a result, Netflix is seeking growth in this new scope.

Netflix has previously tapped into gaming, such as making its series Black Mirror: Bandersnatch a game-like experience, where audiences get to pick the plots and make decisions for the characters that would eventually alter the outcomes of the story.