$Netflix(NFLX.US)$ The success of "Squid Game" could bring in nearly $...
$Netflix(NFLX.US)$ The success of "Squid Game" could bring in nearly $900 million for Netflix, more than 40 times its cost of production, Bloomberg News first reported in October.
Even as Netflix hunts for the next Squid Game-like hit for its service it'll hope videogames will be enough to keep viewers hooked. Netflix reported a total to 214 million paid subscribers at the end of the September quarter, but it's not solely relying on movies and TV in 2022.
In 2021, Netflix bought videogame creator Night School Studio, which made mystery graphic adventure game "Oxenfree," in September and has started testing five mobile gaming titles in select European markets.
"We’ve begun testing our games offering in select countries. It remains very early days for this initiative and, like other content categories we’ve expanded into, we plan to try different types of games, learn from our members and improve our game library," the company said in its third-quarter earnings call.
The company has not officially announced a release date for its gaming platform yet, but it's expected in 2022.
The games will be included as part of a Netflix membership with no ads and no in-app purchases. In July, the company hired former Electronic Arts $Electronic Arts Inc(EA.US)$ and $Meta Platforms(FB.US)$ executive Mike Verdu to lead the effort.
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