Netflix Inc. is planning to venture into Video games to add to its TV shows and films, according to Bloomberg

  • Netflix has appointed Mike Verdu as vice president of the game development division as the company moves to create a gaming team.
  • The company plans to offer video games on its streaming platform from next year.
  • The streaming giant will not charge more for the games, which will appear as a new programming fare alongside the current genre.
  • The plan is expected to allow Netflix to increase prices in future, with the video games viewed as marketing avenues for existing shows. 
  • The company has been expanding by building kid’s programming, opening online merchandise shops, and collaborating with Steven Spielberg.
  • Netflix stocks closed at $566, a 3.3% increase after the news appeared on Bloomberg. The company shares have gone up 1.3% this year. 

Netflix Inc. is ahead of its rivals Walt Disney, HBO Max, Warner Media, and Amazon Inc. with its gaming business offered within its video services.

NFLX: NASDAQ is up + 1.34%