At Thursday’s Geeked Week event, Netflix Inc. NFLX revealed several new games coming to its gaming service.
What Happened: Among the new titles announced were Street Fighter IV: Championship Edition, and Civilization VI. These games will be available to Netflix subscribers without ads or in-app purchases, reported CNET on Friday.
Netflix, known for streaming movies and TV shows, also offers mobile games for iOS and Android devices. Subscribers can access these games at no additional cost.
Other games announced include a Spongebob Squarepants puzzle game, a nautical board game, and a new installment in the Monument Valley series. Some of these titles are available now, while others will be released later this year and in 2025.
Additionally, a game based on the popular series Squid Game is in development, though its release date remains unconfirmed. Netflix has a history of releasing games alongside new seasons of its shows.
Subscribers can download these games by accessing the Netflix app on their mobile devices and navigating to the Mobile Games section.
Why It Matters: Netflix’s foray into gaming is part of a broader strategy to diversify its offerings and maintain its competitive edge in the streaming industry.
Recently, Netflix hit new 52-week highs, driven by a diverse mix of international titles and genres, as highlighted in its first-half 2024 engagement report. The company ended the second quarter with 277.65 million paid members, with future growth expected from international expansion, ad-supported subscribers, and live content.
Netflix CEO Ted Sarandos recently emphasized that there’s no such thing as too much content, embracing a strategy of continuous innovation. This approach has seen Netflix evolve from a DVD-by-mail service to one of the largest streaming platforms globally.
Additionally, Netflix’s recent ventures include a new docuseries featuring Bill Gates, which premiered on Wednesday. The series, titled “What’s Next? The Future With Bill Gates,” covers topics such as climate change, artificial intelligence, and social media.
Analysts like Doug Anmuth from JP Morgan have maintained an “Overweight” rating on Netflix, citing mid-teens revenue growth driven by organic growth, paid sharing, and price increases. The ad-tier expansion and password crackdown are expected to fuel revenue growth in the coming years.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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