Netflix's Co-CEO Outlines Plans to Boost $30 Billion Business with Mobile Games

2023-10-23 04:24:23

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Netflix’s Co-CEO Outlines Strategy to Transform 'Very Small' Mobile Games Business into Major Growth Engine for $30 Billion Company

During Netflix's recent earnings call, Co-CEO Greg Peters discussed the company's plans to make games a significant content category. He acknowledged that the current investment in games is relatively small compared to overall content spend and engagement, but emphasized the goal of scaling the gaming business to have a material impact on the company's success.

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Peters also revealed that Netflix does not disclose financial information or performance metrics for its games business, making it unclear how much money is being spent or the impact on profit margins. However, he mentioned that Netflix does not need to spend money to acquire users for its games, unlike its competitors.

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Focus on Title Selection and Awareness

With the global games market projected to generate £188 billion this year, Netflix sees the gaming business as a lucrative opportunity. Peters highlighted the importance of "title selection" to drive gaming growth, leveraging Netflix's extensive user data to offer games that resonate with users. He also emphasized the need for better product features and increased promotion of games.

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Netflix has released 55 games so far and has plans for 70 more in the pipeline. Many of these games are based on popular movies and TV shows, such as Stranger Things and Queen's Gambit. Ted Sarandos, Netflix's other Co-CEO, described these games as a way for "super fans to get themselves in the universe in between seasons of a show."

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While Netflix's competitors like Warner Bros. Discovery, Apple, and Google also have mobile games businesses, Netflix aims to differentiate itself through its unique content offerings and user-centered approach.

Overall, Netflix sees games as a means to significantly boost engagement and ultimately drive core business metrics alongside movies and series.

For more information, visit the original article on Fortune.com.

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